Let the fun begin !!! It should also be noted Mr Gordon is presenting at the RRS on the Gold Coast on the 31/5 ,I'm sure Mr Gordon will be trying to get drilling results to release by this date.
If this is not a 5-Disallowed I'm a bad judge IMHO
Centaurus closes in on maiden drilling program at Serra Misteriosa as size of anomaly continues to grow
Maiden exploration program on track with first drill rig now on site and ready to kick off 3,500m drill program as additional soil sampling extends strike length of +50ppb Au anomaly to 5.0km
KEY POINTS:
- First drill rig on site at the highly prospective Serra Misteriosa Gold Project in Brazil with site access and drill pad preparation now underway as seasonal rainfall in the region subsides.
- Drilling of the maiden 3,500m program expected to start within the next 5-10 days.
- New results from the extensional soil sampling program has added a further 600m of strike length to the +50ppb Au anomaly, increasing the primary high-grade anomaly to a continuous strike length of 5.0 km.
- In-fill sampling on 25m spacings and additional twin sample lines have helped to validate the historical data and continues to demonstrate the consistency of the robust gold anomaly.
- Multiple high-grade (+100 ppb Au and +150 ppb Au) zones correlate well with the Induced Polarisation (IP) chargeability anomalies (+40mV/V) identified in the IP survey completed earlier in the year, further enhancing the excellent walk-up drill targets already identified.
- Serra Misteriosa is the most advanced project of the highly prospective Pará Exploration Package in Northern Brazil, which includes +750km2 of ELs and EL applications in the State of Pará, located between the world-class Carajás IOCG province and the 5Moz Volta Grande gold deposit.
Centaurus Metals (ASX Code:
CTM) is pleased to announce that it is on track to commence its maiden drill program at the highly prospective
Serra Misteriosa Gold Project in Northern Brazil within days with the first drill rig having arrived on site last week and preparations for the start of drilling now well advanced.
The site accesses and drill pads are being prepared and all geological and core processing facilities are ready. As the heavy seasonal rainfall has progressively subsided during the last few weeks the Company has been able to start the necessary site preparations, with drilling now likely to commence in the next 5-10 days.
Exploration work has continued on the target during the wet season and ongoing extensional and in-fill soil sampling programs continue to deliver excellent results. Recent results from these programs have added a further 600m of strike length to the existing 4.4km long +50ppb gold anomaly. This outstanding gold-in-soil anomaly now has a strike length of 5.0km with consistent widths of circa 150m (see Figure 1 below).
The upcoming drilling will be the first time that this exceptional greenfields gold target, which now hosts a
5.0 km long, +50ppb Au gold-in-soils anomaly, will be drill tested.
Figure 1 – Serra Misteriosa, Soil Geochemistry (Au) showing new (bold) and historical (smaller) soils results.
Some recent results from the ongoing soil sampling program are from new extensional sample lines, located to the west of a north-south fault which was previously understood to constrain the high grade soils anomaly to the west. It is now evident that the gold-in-soils anomaly continues to the west of this fault for at least an additional 600m. Furthermore, one of the samples from these lines returned the project’s highest soils sample grade to date at 238 ppb Au.
In-fill sampling was also completed to reduce the spacing down to 25m on all sections that cover the main mineralised zone. The results continue to demonstrate the consistency of the robust gold anomaly both in terms of continuity and grade. A number of additional duplicate lines were completed with excellent results confirming the quality of the historical data.
There are 150m wide zones of +100 ppb Au and locally +150 ppb Au soil sampling results on multiple sections. All of these zones correlate well with the chargeability anomalies identified from the Induced Polarisation (IP) survey completed in January (see Figure 2 below). These zones represent the walk-up drill targets which will be a priority in the upcoming maiden drill program.
The fact that there are gold (plus arsenic and antimony) anomalies directly above these high chargeability zones potentially indicates the presence of gold-bearing disseminated sulphides at depth - a very encouraging feature. Section 1000 in Figure 2 below is an example of this relationship.
Figure 2 – Serra Misteriosa, IP Section 1000 with projected soil geochemistry (Au)
As advised previously, Centaurus commissioned highly-respected geologist, Mr Grant “Rocky” Osborne, to conduct a detailed review of the Serra Misteriosa Gold Project. Mr Osborne has extensive gold and base metals exploration experience on projects in Brazil and Australia, having worked for over 17 years in Brazil with BP Minerals and Western Mining Corp (WMC) and more recently with a number of juniors in Australia. He is responsible for gold and base metal discoveries in both countries.
Mr Osborne’s independent review concluded that the Serra Misteriosa Gold Project represents a very robust geological, geochemical and geophysical target for Intrusion-related gold mineralisation hosted within a shear zone. This is supported by a consistent mineral zoning of Gold (Au), Arsenic (As), Antimony (Sb) and magnetic susceptibility over a long interval combined with relatively simple geology and geophysics (IP and Magnetics).
Centaurus’ Managing Director, Mr Darren Gordon, said the Company was looking forward to the start of drilling with great anticipation.
“We have been working through all the commercial, contractual and logistical back ground work required to prepare for a greenfields drill program at Serra Misteriosa, and we’re now in the final stages of preparations before drilling operations begin,” he said. “The high level of rainfall seen over the last few months is declining significantly and we are confident that we will now be able to break ground within the next five to ten days.
“The size, grade and robustness of this gold-in-soils anomaly is outstanding and it has produced multiple walk-up drill targets that will be the focus of our maiden 3,500m drill program. We look forward to getting the rods turning and delivering first results by early June,” he added.
Click here to download a full copy of this announcement including diagrams and tables.
Released by:
Nicholas Read
Read Corporate
M:
+61 419 929 046
On behalf of:
Darren Gordon
(20min delay)