Centaurus Metals has exercised its option to acquire a 100% interest in the Jambreiro Iron Ore Project and represents a potential cornerstone for Centaurus’ Brazilian iron ore business. The project will be acquired from Celulose Nipo Brasileira SA. There will be an exploration target of 40 to 60 million tonnes itabirite iron ore at 30 to 40% Fe for the Project with mineralization mapped over a 7km strike extent. An initial 7 hole diamond drilling program completed by Cenibra has intersected the itabirite mineralization to a vertical depth of 90m. Mineralization is highly friable which is anticipated to enable low-cost beneficiation to a high grade (+63% Fe) product. There is a strong correlation between mapped iron mineralization and ground magnetic signature which indicates significant depth potential of mineralization.
