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CENTAURUS METALS LIMITED — Capital/Financing Update 2011
Mar 3, 2011
64715_rns_2011-03-03_731b2a82-08ff-4836-8e29-f5dde2a46eb2.pdf
Capital/Financing Update
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
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NT
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4 March 2011
POSIT I VE TRENCHIN G RESU L TS ENHANCE J A MBRE I RO PR O JECT R ESOURCE U PGRADE D R ILLING CAMPAIGN UND E RWAY – FOUR DRILL RI G S ON SITE
Int e rnational ir o n ore company Centa u rus Metals Limited (A S X Code: CTM ) is pleas e d to report encouragi n g res u lts from a r ecent trenc h ing progra m at its flag s hip Jambreiro Iron Ore Project in t he State of Minas Gerais, sou t h‐east Braz i l which has c onfirmed both the gra d e and friabl e nature of the ore.
The trenching p rogram – w hich compr i sed a total of 32 trenc h es for 1,50 0 metres (s e e Figure 2 f or location of tre n ches ) – was successful i n defining t h e ore conta c ts over mo s t of the cur r ent resour c e base at Ja m breiro (JO R C co m pliant Infer r ed Mineral Resource of 77Mt grading 29.5% Fe ), as well as extendin g the ore c o ntacts to t h e sou t h east whe r e drilling has not yet be e n undertak e n nor a res o urce defined.
Hig h lights of th e trenching a ssay results include:
| Trench ID |
Trench Interval F e% SiO2% Al2O3% P%* |
Trench Interval F e% SiO2% Al2O3% P%* |
|---|---|---|
| TR 0001 | 34.00 | 3 5.7 44.0 2.8 0.027 |
| TR 0006 36.00 3 3.8 48.2 1.9 0.015 |
||
| TR 0007 | 64.00 | 3 3.6 45.9 3.7 0.021 |
| TR 0012 14.00 3 5.5 44.5 3.0 0.020 |
||
| TR 0014 | 48.00 | 3 5.3 45.0 2.6 0.017 |
| TR 0022 36.00 3 4.1 48.9 1.3 0.021 |
||
| TR 0024 | 10.00 | 3 8.1 39.9 3.2 0.024 |
| TR 0025 40.00 3 3.3 48.7 2.6 0.022 |
||
| *20% cut‐off; continuo us intervals |
The results hav e confirmed the highly friable natur e of Jambre i ro ore at surface, the c o mparativel y higher gra d e nat u re of this f r iable ore a n d the location of the footwall and h angingwall contacts fo r each prospect within t h e Pro j ect area.
Wit h the trenc h ing progra m targeting the footwall and hangin g wall contac t s of the pr o spect area s at Jambrei r o, mo s t trenches w ere often c o mmencing or finishing i n mineralis a tion. TR007, which retu r ned a continuous inter v al of 64 metres at an average grade of 33.6% Fe , w a s the only trench which intersecte d the footw a ll contact a n d hangingwall co n tact in the s ame trench . This interv a l demonstrates particu l arly well th e continuou s nature of t h e fria b le surface m ineralisation found wit h in the 1.1 k i lometre Tigre Prospect.
Tre n ch TR0014 , which returned an average grade of 35.3% Fe over a c o ntinuous i n terval of 4 8 metres, has ide n tified the e xtension o f the hangingwall contact to the south east of the cur r ent resour c e limits. T h is hangingwall co n tact is 78 m etres fro m the footw a ll contact f ound in trench TR001 5 ( 12m at 29.4% Fe ). T h e cur r ent drill program will te s t the exten s ion of the c u rrent reso u rce limits to the south e a st.
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
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The trenching w ork has sig n ificantly enhanced the definition o f drill target s for the cu r rent round of explorati o n and resource u p grade drilling. Three diamond rigs and one R C rig are cur r ently on si t e and are underway on a 5,0 0 0 metre resource upgrade and expl o ration drill p rogram.
‐ENDS‐
Released By: Nic h olas Read Rea d Corporate Mb: (+61) 419 92 9 046 Tel: (+61‐8) 9388 1474
On behalf of: Mr D arren Gord o n Ma n aging Direct o r Cen t aurus Metal s Ltd Tel: (+61‐8) 9420 4000
Competent Person’s Statement
The i n formation in this report that rel a tes to Explorati o n Results and Mineral Resources for the Jambreiro Iron Ore Proje c t is based on information compiled by R o ger Fitzharding e who is a Member of the Aust r alasia Institute o f Mining and M etallurgy and Volodymyr Myad z el who is a Member of Australian Institute of Geoscien t ists. Roger Fit z hardinge is a p e rmanent empl o yee of Centaur u s Metals Limit e d and Volodym y r Myadzel is t h e Senior Resou r ce Geol o gist of BNA Con s ultoria e Sistem a s Limited, independent resourc e consultants engaged by Centaur u s Metals.
Roge r Fitzhardinge and Volodymyr Myadzel have s ufficient experi e nce which is r e levant to the s tyle of mineralization and typ e of deposit un d er consideration and to t he activity which they are unde r taking to qualif y as a Competen t Person as defined in the 2004 Edition of the ‘Australasian Code f or Reporting of Explorat i on Results, Min e ral Resources a n d Ore Reserve’. Roger Fitzhardi n ge and Volody m yr Myadzel con s ent to the inclusion in the report of the m atters based on their informatio n in the form an d context in whic h it appears.
Figure 1 – Photos Showing Trenching across the Ore Zone at Tigre Prospect, Jambreiro.
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
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Figure 2 – Map of the Jambreiro Iron Ore Project Showing Trench Locations
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* A number o_ _f trenches retu_ _r ned results wi_ _t h no significant iron minerali_ _s ation intersection. In some o_ _f these cases o_ _n ly transporte_ _d soil cover wa_ _s encountered. Only where th_ _e in situ contac_ _t s were expose_ _d was the surface interpretati_ _o n adjusted ac_ _c** ordingly.
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
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Table 1 – Jambreiro Trench Program Assay Results March 2011
| Hole ID | Trench Interval |
Fe% | **SiO2% ** | **Al2O3% ** | **Al2O3% ** | P% | Coo rdinates |
Coo rdinates |
|
|---|---|---|---|---|---|---|---|---|---|
| East | North | mRL | |||||||
| TR 0001 | 34.00 | 35.7 | 44.0 | 2.8 | 0 .027 |
7 22502 |
7944938 | 972 | |
| TR 0002 | 12.00 | 25.7 | 58.0 | 2.9 | 0 .034 |
7 22442 |
7944980 | 960 | |
| TR 0003 | 26.00 | 28.7 | 53.8 | 3.0 | 0 .022 |
7 22491 |
7944982 | 964 | |
| TR 0004 | 16.00 | 33.3 | 45.3 | 3.9 | 0 .039 |
7 22221 |
7945130 | 923 | |
| TR 0005 | No Sign ificant Interse ction |
7 22221 |
7945133 | 927 | |||||
| TR 0006 | 36.00 | 33.8 | 48.2 | 1.9 | 0 .015 |
7 22258 |
7945140 | 921 | |
| TR 0007 | 64.00 | 33.6 | 45.9 | 3.7 | 0 .021 |
7 22282 |
7945077 | 930 | |
| TR 0008 | No Sign ificant Interse ction |
7 22509 |
7945031 | 948 | |||||
| TR 0009 | 14.00 | 30.2 | 49.7 | 4.1 | 0 .045 |
7 22379 |
7945013 | 949 | |
| TR 0010 | No Sign ificant Interse ction |
7 22440 |
7945111 | 924 | |||||
| TR 0011 | 10.00 | 27.8 | 45.0 | 9.9 | 0 .021 |
7 22549 |
7945008 | 951 | |
| TR 0012 | 14.00 | 35.5 | 44.5 | 3.0 | 0 .020 |
7 22577 |
7944987 | 947 | |
| TR 0013 | 10.00 | 21.9 | 61.6 | 4.8 | 0 .021 |
7 22681 |
7944708 | 1013 | |
| TR 0013 | 7.00 | 22.7 | 58.3 | 5.8 | 0 .018 |
7 22681 |
7944708 | 1013 | |
| TR 0014 | 48.00 | 35.3 | 45.0 | 2.6 | 0 .017 |
7 22712 |
7944653 | 1019 | |
| TR 0015 | 12.00 | 29.4 | 49.1 | 5.7 | 0 .024 |
7 22773 |
7944704 | 993 | |
| TR 0016 | 6.00 | 28.3 | 52.2 | 4.4 | 0 .019 |
7 22731 |
7944774 | 986 | |
| TR 0017 | 8.00 | 20.7 | 60.3 | 5.7 | 0 .039 |
7 21955 |
7945392 | 843 | |
| TR 0018 | No Sign ificant Interse ction |
7 22101 |
7945318 | 893 | |||||
| TR 0019 | 30.00 | 30.0 | 51.9 | 2.7 | 0 .030 |
7 21926 |
7945306 | 851 | |
| TR 0020 | 26.00 | 27.7 | 52.7 | 4.3 | 0 .036 |
7 22320 |
7946077 | 876 | |
| TR 0021 | 52.00 | 28.1 | 51.4 | 5.0 | 0 .043 |
7 22271 |
7946151 | 890 | |
| TR 0021 | 6.00 | 27.2 | 54.7 | 3.3 | 0 .03 |
7 22533 |
7946017 | 916 | |
| TR 0022 | 36.00 | 34.1 | 48.9 | 1.3 | 0 .021 |
7 22533 |
7946017 | 916 | |
| TR 0023 | No Sign ificant Interse ction |
7 22501 |
7945877 | 926 | |||||
| TR 0024 | 10.00 | 38.1 | 39.9 | 3.2 | 0 .024 |
7 22543 |
7945984 | 925 | |
| TR 0025 | 40.00 | 33.3 | 48.7 | 2.6 | 0 .022 |
7 22369 |
7946081 | 892 | |
| TR 0026 | No Sign ificant Interse ction |
7 22459 |
7946208 | 919 | |||||
| TR 0027 | 10.00 | 30.6 | 49.9 | 4.0 | 0 .037 |
7 22261 |
7946221 | 927 | |
| TR 0028 | No Sign ificant Interse ction |
7 22204 |
7946272 | 947 | |||||
| TR 0029 | 9.00 | 32.7 | 50.6 | 1.7 | 0 .018 |
7 22216 |
7946252 | 936 | |
| TR 0030 | No Sign ificant Interse ction |
7 22671 |
7945866 | 949 | |||||
| TR 0031 | No Sign ificant Interse ction |
7 22708 |
7945844 | 969 | |||||
| TR 0032 | No Sign ificant Interse ction |
7 22759 |
7945812 | 977 |
20 % Fe cut‐off; contin_ _u* ous intervals
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