Boi Novo Expansion Raises Questions on Depth Potential and Metallurgical Viability

Expanding the Boi Novo Mineralised Corridor

Centaurus Metals Limited (ASX, CTM) has announced a promising expansion of its copper-gold mineralisation footprint at the 100%-owned Boi Novo Project in Brazil’s prolific Carajás Mineral Province. The latest drilling results reveal a newly discovered shallow copper-gold zone at the Nelore East Prospect, highlighted by an impressive intercept of 11.5 metres grading 2.84% copper and 0.90 grams per tonne gold from 91.9 metres depth.

This discovery builds on the company’s ongoing exploration success, with only five holes drilled so far at Nelore East. Down-hole electromagnetic surveys have identified off-hole conductors, suggesting the mineralisation remains open both at depth and along strike, indicating potential for further resource growth.

Continuity and Scale at Nelore West

Meanwhile, drilling at the Nelore West Prospect has confirmed continuity between known high-grade breccia pipes, with broad zones of copper mineralisation ranging from 0.3% to 0.5% copper over widths exceeding 40 metres. These results demonstrate a structurally controlled mineralised corridor with a pinch-and-swell geometry, enhancing the geological understanding of the deposit and refining exploration models.

Notable intercepts at Nelore West include 43.4 metres at 0.32% copper and 0.07 grams per tonne gold, reinforcing the presence of a substantial mineralised system that could support future resource delineation.

Iron Ore Potential Adds Further Value

In addition to copper-gold mineralisation, the Boi Novo drilling program has intersected significant zones of itabirite iron mineralisation within the Banded Iron Formation (BIF). Assays returned intervals such as 36.1 metres grading 32.48% iron, underscoring the project’s multi-commodity potential. The company has defined an exploration target of 520 to 780 million tonnes grading 30-35% iron across multiple prospects, though this remains conceptual pending further work.

Strategic Location and Next Steps

Boi Novo’s location is strategically advantageous, situated just 35 kilometres from Vale’s copper-gold concentrate load-out facility at Parauapebas and less than 20 kilometres from BHP’s Antas Norte copper flotation plant. This proximity to major infrastructure could facilitate future development and logistics efficiencies.

Centaurus has paused drilling to integrate all recent datasets, aiming to develop a comprehensive geological interpretation that will guide the next phase of exploration. Planned activities include deeper drilling beneath the granitic sill at Nelore West to test for high-grade shoots and extensions of the new mineralisation at Nelore East. Metallurgical sampling is underway to assess processing characteristics, with results expected to inform project economics.

Ongoing field exploration, including fixed-loop electromagnetic surveys and geochemical programs across multiple prospects, is expected to generate additional high-quality drill targets, supporting a systematic approach to unlocking Boi Novo’s full potential.