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Centaurus Metals Ltd.

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Summary

Project:

Itapitanga

Deposit:Itapitanga
Location:Brazil
Commodities:Nickel-Cobalt
Date:8/1/2018
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resources Definition
Report details:1-8-2018: Centaurus Metals Ltd. announces a Resource Estimation report for its Itapitanga deposit at the Itapitanga project. Exploration target for Itapitanga project. Centaurus Metals (ASX Code: CTM) is pleased to announce that it has completed an initia
Resources:Exploration Target: 35-45Mt @ 0.80%-1.10% Ni, 0.07%-0.12% Co
CP/QP:[Overall Report]: Roger Fitzhardinge (Internal)
ABSTRACT:Centaurus Metals (ASX Code: CTM) is pleased to announce that it has completed an initial Exploration Target for the Itapitanga Nickel‐Cobalt Project in northern Brazil based on the strong and consistent high‐grade drilling results reported from the project in recent weeks which have confirmed its scale and potential. The Company has defined an Exploration Target of 35‐45Mt at 0.80% to 1.10% nickel and 0.07% to 0.12% cobalt for the Itapitanga Project. Full details of how the Exploration Target has been determined are set out below and are summarised in Table 1. The Exploration Target estimate for the Itapitanga Project comprises between 280,000‐495,000 tonnes of nickel and 24,500‐54,000 tonnes of cobalt. Centaurus’ Managing Director, Darren Gordon, said the Company’s success in advancing the Itapitanga Project from the first auger drill‐hole to a maiden Exploration Target in less than six months was an outstanding achievement. “After just two months of Reverse Circulation drilling, we have been able to clearly establish that Itapitanga is a substantial nickel‐cobalt project with the scale, grade and potential to be a significant and valuable asset for Centaurus. “We have been able to deliver a preliminary Exploration Target of 35‐45Mt at 0.80% to 1.10% nickel and 0.07% to 0.12% cobalt, based on the approximately 3,000m of drilling for which we have results so far. This is quite an achievement considering that we only put the first auger hole into the project in February. “The Exploration Target demonstrates the potential scale and quality of the Itapitanga mineralisation, which occurs at or near surface and has responded very well to conventional processing techniques. This is a great result for the Company and is something we intend to advance towards a maiden JORC Resource in the coming months.”

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