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Centaurus Metals Ltd.
Summary
| Project: | Mombuca | |
|---|---|---|
| Deposit: | ITZ, Bela | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 9/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-9-2016: Centaurus Metals Ltd. announces an Exploration/Drilling Update report for its ITZ, Bela deposit at the Mombuca project. Drilling results incl. 2m @ 0.42g/t Au from 1m. Centaurus Metals (ASX Code: CTM) advises that the first round of exploration | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Roger Fitzhardinge (Internal) | |
| ABSTRACT: | Centaurus Metals (ASX Code: CTM) advises that the first round of exploration drilling has been completed at its 100%‐owned Mombuca Gold Project in south‐east Brazil with the drill rig demobilised for the time being while the Company assesses and interprets the first batch of results. This initial round of drilling saw five deep diamond drill holes completed over the two prospect areas at Mombuca (the ITZ and Bela Prospect). The results included a shallow intercept of low‐grade gold mineralisation in MBC‐DD‐16‐002 with no significant assays returned from the other four holes. The drilling targeted large, extremely high chargeability anomalies coincident with resistivity highs and magnetic lows. These anomalies are typically excellent geophysical targets for disseminated sulphide mineralisation, with the targets also associated with geochemical signatures and artisanal gold workings. IP anomalies of these dimensions and with chargeability readings of up to 20msec (considered very high) are generally associated with significant amounts (1‐5%) of disseminated sulphides, iron oxides or other geological conditions that can explain the anomalies (e.g. graphitic schists, black shale units, etc). The diamond drill holes that targeted these IP anomalies only returned trace amounts of disseminated sulphides and iron oxides or boxworks of the same within intervals of silica, sericite and chlorite alteration. The zones were often locally fractured and brecciated with strong signs of fluid movement and oxidisation along the zone. Logging of the core by experienced geologists identified strong evidence of the presence of a substantial hydrothermal mineralising system. This together with the absence of any other geological features which could explain the high chargeability signals means that the IP anomalies remain unexplained, especially considering their strength. | |
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