Centaurus Metals Identifies IOCG Target at Salobo West Project
West Perth, WA / November 8, 2017 / JMN Wire / Centaurus Metals Limited (ASX:CTM) (“Centaurus” or “the Company”) is pleased to announce that it has outlined a highly significant IOCG ‐ style copper ‐ gold target at its 100% ‐ owned Salobo West Project in the world ‐ class Carajás Mineral Province (“Carajás”) in northern Brazil, with results from initial soil sampling and field mapping confirming the prospectivity of the SW1‐B IOCG Prospect
The soil geochemical results have delineated an extensive +6.5km long Cu‐Au(‐Co) anomaly at the SW1‐B Prospect that is up to 600m wide with soil values of up to 412ppm Cu, 108ppb Au and 299 ppm Co . The soil signature for the SW1‐B Prospect is comparable to a number of the known IOCG deposits in the Carajás.
Within the broader SW1‐B anomaly, which is located in the Itacaiúnas Supergroup (host to all know IOCG deposits in the Carajás), the Company has identified three distinct target zones – all displaying geological, structural, geochemical and geophysical characteristics similar to the known IOCG deposits of the region.
- Mapping and soil sampling from the SW1‐B Prospect have delineated an extensive IOCG anomaly that is 6.5km long and up to 600m wide, with a geochemical signature comparable to other known IOCG deposits in the Carajás Mineral Province (“Carajás”).
- Three distinct target zones have been identified within the SW1 ‐ B Prospect, all of which display similar geological, structural, geochemical and geophysical characteristics to these known IOCG deposits.
- Multiple high priority walk ‐ up copper ‐ gold drill targets now defined from the mapping and soil sampling work at the SW1‐B Prospect.
- Field exploration activities have now advanced to the SW1‐A Prospect area, which is located in the same stratigraphic sequence as Vale’s giant Salobo Copper ‐ Gold Mine.
- The Salobo West Project is located in the world ‐ class Carajás Mineral Province, less than 15km along strike from Vale’s giant Salobo Copper ‐ Gold Mine, arguably the second ‐ biggest IOCG in the world.
- Licencing for drilling is being advanced with the environmental agency responsible for the region (ICMBio), with the relevant approvals anticipated to be available early in 2018 to facilitate the commencement of drilling following the end of the regional wet season.