Not what we were after
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
& MEDIA RELEASE
Australian Office Brazilian Office ASX: CTM
Centaurus Metals Limited Centaurus Brasil Mineração Ltda ACN 009 468 099
Level 3, 10 Outram St Avenida Barão Homem de Melo, 4391
[email protected]
WEST PERTH WA 6005 Salas 606 e 607 ‐ Estoril Telephone: +61 8 6424 8420
Belo Horizonte ‐ MG ‐ CEP: 30.494.275
BRAZIL
28 May 2018
SALOBO WEST COPPER‐GOLD PROJECT – UPDATE ON
DRILLING LICENCE APPLICATION
Centaurus Metals (ASX Code: CTM) has been advised by the local office of the Chico Mendes Institute for
Biodiversity Conservation (ICMBio) that the Company’s application for a drilling and clearing licence at the Salobo
West Copper‐Gold Project in northern Brazil has initially been denied based on a recent change of interpretation
of the relevant environmental regulations.
The Company has already taken steps to elevate consideration of our drilling licence application to higher levels
of the ICMBio environmental agency and will discuss the initial ICMBio decision with the National Mining Agency
(ANM) and Ministry of Mines, given that there has been no new environmental legislation or regulation
introduced relevant to the project area since it was last drilled at the end of 2010 by Anglo American.
The current interpretation and ICMBio’s decision likely means that the process to secure the required clearing and
drilling licence for the area will take longer than originally anticipated, and therefore the Company is unlikely to
be in a position to commence its maiden diamond drill program at Salobo West in August 2018 as planned.
The Company will continue to advance the Project by undertaking further non‐ground disturbing activities. This
work, which is permitted under the current access licences as granted by ICMBio in the second half of 2017, will
include further soil sampling and ground‐based geophysical work with the aim of identifying additional new drill
targets and further enhancing the existing drill targets over the extensive and highly prospective project area.
This work will proceed in parallel with the ongoing exploration program at the Itapitanga Nickel‐Cobalt Project,
where a major RC drilling program is well underway with first assays expected shortly, and with the upcoming
drilling program at the Pebas Copper‐Gold Project where a drilling licence has already been granted.
Centaurus’ Managing Director, Mr Darren Gordon, said the Company would continue to progress its planned
sequence of exploration activities at the Itapitanga and Pebas Projects through the course of the year, while
undertaking additional non‐ground disturbing exploration at Salobo West.
“We are looking forward to seeing the first results from Itapitanga, where the current drill program is making
excellent progress,” he said. “The likely delay at Salobo West is something we will work around in a constructive
way, given we have plenty of work to do in the meantime at Itapitanga and a planned upcoming program at
Pebas.
“We will also continue to add value at Salobo West, which remains a world‐class exploration opportunity,
concurrently with advancing our assessed valid right to secure a drilling licence for the project as quickly as
possible.”
‐ENDS‐
Released by: On behalf of:
Nicholas Read
Read Corporate
M: +61 419 929 046
Darren Gordon
Managing Director
Centaurus Metals Limited
T: +618 6424 8420
(20min delay)