How Will Centaurus Unlock Rio Novo’s Copper-Gold Potential in Carajás?
Centaurus Metals has secured the Rio Novo Copper-Gold Project adjacent to its Boi Novo asset in Brazil’s prolific Carajás Mineral Province, boosting its regional landholding and exploration potential. The acquisition comes with promising historical drill results and immediate plans to integrate Rio Novo into ongoing exploration efforts.
- Acquisition of 40km² Rio Novo Project adjoining Boi Novo in Carajás, Brazil
- Historical drilling shows significant copper-gold mineralisation
- Early access under staged investment deal with Ore Investments Ltda
- Exploration to commence immediately using advanced geophysical methods
- Combined landholding now ~75km² near major mining infrastructure
Strategic Expansion in a World-Class Copper-Gold Province
Centaurus Metals Limited has taken a decisive step to strengthen its copper-gold exploration portfolio with the acquisition of the Rio Novo Project, a 40 square kilometre tenement located immediately north of its existing Boi Novo Project in Brazil’s Carajás Mineral Province. This region is renowned globally for its rich deposits of copper, gold, iron ore, and nickel, making it a highly sought-after jurisdiction for mineral exploration.
The Rio Novo acquisition expands Centaurus’ combined landholding in the Carajás to approximately 75 square kilometres, positioning the company to leverage the geological continuity and infrastructure advantages of the area. The project’s proximity to major facilities, just 35 kilometres from Vale’s copper-gold load-out and 20 kilometres from BHP’s Antas Norte flotation plant, adds logistical appeal to the exploration potential.
Promising Historical Data and Untapped Potential
Historical exploration by the previous owner, Companhia IOCG Norte de Pesquisa Mineral SPE (controlled by Ore Investments Ltda), included 1,465 metres of diamond drilling. Notably, eight of eleven drill holes intersected copper mineralisation with grades and alteration styles comparable to those at Boi Novo and the nearby Grota Rica deposit. Highlights include intercepts such as 2.4 metres at 4.08% copper and 0.25 grams per tonne gold, and 4.1 metres at 0.87% copper and 2.29 grams per tonne gold.
Despite these encouraging results, more than 65% of the Rio Novo tenement remains unexplored, particularly the western half which has never undergone electromagnetic geophysical surveys or systematic soil sampling. This presents a significant opportunity for Centaurus to apply modern exploration techniques like Fixed Loop Electromagnetic (FLEM) and Down-Hole EM (DHEM) surveys, which have proven effective on their existing projects.
Flexible Deal Structure Aligns Interests
The acquisition deal with Ore Investments Ltda features a modest upfront payment and a staged investment schedule, allowing Centaurus early access to the tenement while managing financial exposure. The structure includes milestone payments tied to exploration success and project advancement, with Ore retaining a 1% royalty convertible to a 25% share of proceeds if the project is sold. This arrangement aligns both parties’ interests in de-risking and advancing Rio Novo.
Integration with Ongoing Exploration and Development
Centaurus plans to immediately commence a targeted exploration program at Rio Novo, integrating it with ongoing activities at Boi Novo. The focus will be on detailed geological mapping, soil sampling, and FLEM surveys to refine high-priority copper-gold drill targets. The company aims to rapidly progress to a maiden drill program, building on recent successes at Boi Novo where high-grade copper intersections have been confirmed.
Meanwhile, copper exploration at Rio Novo and Boi Novo will proceed alongside the development of Centaurus’ Jaguar Nickel Sulphide Project, which is advancing through a strategic partnering process. This multi-commodity approach underscores Centaurus’ commitment to unlocking value across its Brazilian portfolio.
Bottom Line?
Centaurus’ Rio Novo acquisition marks a pivotal expansion in a globally significant copper-gold province, setting the stage for accelerated exploration and potential resource growth.
Questions in the middle?
- How will milestone payments impact Centaurus’ financial position if exploration targets are met?
- What are the timelines and expected scale for the maiden drill program at Rio Novo?
- Could the proximity to major infrastructure accelerate project development or attract partners?
