Brazil-focused explorer Centaurus Metals (ASX: CTM) is getting set to begin work at its latest venture in the South American country following the grant of an environmental licence for its Salobo West ground, next to Vale’s massive copper-gold operation
The clearance gives Centaurus the ability to start “ground-disturbing activities” and will involve mapping, stream sediment sampling, soil sampling and ground-based geophysics in the Tapirape-aquiri National Forest where the project is located.
The Salobo West project covers 120km2 of ground along strike from Vale’s Salobo operation, where about 176,000 tonnes of copper and 317,000 ounces of gold were produced in 2016.
Centaurus raised $2.5 million in a rights issue at 0.4c, with the company currently capitalised at around $7 million.
The company is also currently drilling a high-grade gold-in-soils anomaly at its Serra Misteriosa project, located north of Salobo West.
