PERTH (miningweekly.com) – ASX-listed Centaurus Metals has continued with its diversification strategy, adding the Parambu copper project to its landholding under a strategic alliance with Brazilian explorer Terrativa Minerais SA.
The Parambu project includes two exploration licences and two applications covering an area of 6 550 ha. The tenements cover a combined strike length of 23 km and the project is located near logistical infrastructure.
The acquisition of the project comes short on the heels of Centaurus completing the acquisition of the Aurora copper project, also in Brazil, which formalised the strategic alliance with Terrativa.
Centaurus gained full ownership of the Aurora project, while giving Terrativa a number of opportunities to re-enter the project at various development milestones.
Centaurus said on Tuesday that the company’s priority over the next six months would remain the exploration of the Aurora copper project, where recent geophysical work has identified a number of untested priority targets.
In addition to the Aurora and Parumba copper projects, the Terrativa strategic alliance also resulted in a restructure of an existing option agreement between the two parties over the Conquista direct shipping ore project.
The restructure had resulted in Centaurus agreeing to an early exercise of the option over the Conquista project, on revised and favourable terms, and would see Centaurus issue shares instead of having to make a cash payment for the project.