Centaurus Resources announced completion of a positive scoping study on the Itambé-1 iron ore deposit located within its 100%-owned Itambé iron ore project, situated near Belo Horizonte in Brazil’s Iron Quadrangle. The study indicates that, based on an initial 500,000tpa operation selling ore into the domestic Brazilian steel industry, the Itambé 1 deposit generates gross operating margins of ~AU$16 per tonne of ore sold, a pre corporate tax NPV8% of AU$19.6 million1 and a pre corporate tax IRR of 37%.
Centaurus Resources announced the completion of an initial JORC Inferred Mineral Resource estimate of 15.5 million tonnes grading 37.2% Fe for the Itambé-1 tenement within its 100%-owned Itambé Iron Ore project, located near Belo Horizonte in Brazil’s Iron Quadrangle.
Reported the diamond drilling discovery of a flat lying iron formation composed of Friable Itabirite that beneficiates to a high grade sinter product (>67.7% Fe) via low cost magnetic separation. Significant intersections include: 8.5m @ 45.03% Fe from the surface was found in hole IBPDD0011, in hole IBPDD0017 returned 7.8m @ 50.57% Fe from 21.35m and in 8.2m @ 42.10% Fe from surface in hole IBPDD0006. The Iron Formation remains untested to the north and north-east where a recently completed ground magnetic survey illustrates significant potential for extensions and new ore lenses.
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