PERTH (miningweekly.com) – A recent ground magnetic survey has proven positive for metals developer Centaurus Metals, with the company saying on Monday that it had confirmed the potential for high-grade direct shipping ore (DSO) at the recently acquired Candonga West project, in Brazil.
Centaurus acquired the Candonga West project at the start of the month. The project had an initial exploration target of between 3.5-million and 8-million tonnes of DSO material, grading between 64% and 67% iron, with a further 20-million to 40-million tonnes of itabirite mineralisation grading between 35% and 45% iron.
Centaurus said on Monday that the recently completed survey confirmed the location of a number of targets and identified new sub-surface anomalies prospective for high-grade DSO mineralisation.
The junior has now started an extensive augur drill programme at Candonga West, as well as a trenching programme similar to that instituted at the Candonga project.
Additionally, Centaurus was investigating options for a gravity survey, which was expected to produce an accurate three-dimensional model that would assist in future diamond and reverse circulation drill-hole targeting.