Centaurus Metals Defines Large Copper Targets at Rio Novo Ahead of Q3 Drilling

Rio Novo Unveils Large-Scale Copper Targets

Centaurus Metals (ASX:CTM) has rapidly defined multiple copper-in-soil anomalies exceeding 2 kilometres in strike length at its recently acquired Rio Novo tenements in northern Brazil. These anomalies, identified from an initial soil geochemistry program with over 900 assays returned so far, highlight the significant upside potential of the largely untested Rio Novo ground, which forms part of the expanded Boi Novo Project.

More than half of the assay results remain pending, underscoring the early stage of exploration. The company is accelerating surface exploration with Fixed Loop Electromagnetic (FLEM) and drone magnetic surveys underway or imminent, aiming to refine structural interpretations and generate high-quality drill targets ahead of a planned Q3 2026 drilling campaign. This approach mirrors the successful exploration methods applied at Boi Novo and the flagship Jaguar Nickel Sulphide Project, positioning Rio Novo as a promising frontier for copper-gold discovery. The landholding now covers approximately 75 square kilometres within the prolific Carajás Mineral Province, close to infrastructure including Vale’s copper-gold load-out facility and CoreX’s Antas Norte flotation plant.

Boi Novo Drilling Confirms Continuity and Grade Variability

Meanwhile, drilling at Boi Novo continues to intersect copper-gold mineralisation at both the Nelore West and Nelore East prospects. Recent results include intervals such as 6.7 metres at 1.53% copper and 0.30 g/t gold from 51.9 metres, and 3.9 metres at 1.78% copper and 0.42 g/t gold from 41.8 metres. The Nelore West Prospect shows lateral continuity over a 500-metre structural corridor, with copper mineralisation hosted in mafic rocks and occurring as stringer to semi-massive chalcopyrite-pyrrhotite sulphides. In contrast, the Nelore East Prospect exhibits narrower, structurally complex mineralised shoots, suggesting isolated zones rather than a large continuous body.

These latest drilling results build on a solid foundation of previous intercepts, including 36.7 metres at 1.58% copper and 9.2 metres at 2.73% copper, reinforcing the prospectivity of the Boi Novo mineral system. The company is refining its geological model and targeting strategy ahead of a broader project-wide drilling program that will incorporate Rio Novo targets. This ongoing work reflects Centaurus’ methodical approach to unlocking the full potential of its copper-gold assets in the Carajás region.

Iron Ore Intersections Support Significant Exploration Target

In addition to copper-gold, Boi Novo drilling continues to intersect substantial itabirite iron mineralisation. Recent assays reveal thick zones such as 85 metres at 33.2% iron from surface and 72.3 metres at 30.6% iron from 47.3 metres. The project currently holds an Exploration Target of 520 to 780 million tonnes grading 30 to 35% iron, based on mapping, drilling, and geophysical data across multiple prospects including Bufalo, Guzera, Nelore, and Zebu.

It is worth noting that this Exploration Target is conceptual; no Mineral Resource estimate has yet been defined, and further drilling and analysis will be required to confirm the scale and grade of the iron ore potential. The iron mineralisation is predominantly magnetite-rich, typical of the Banded Iron Formation sequences that are interbedded with mafic volcanic rocks in the area.

Metallurgical Testing Demonstrates Processing Potential

Centaurus has completed preliminary metallurgical test work on a maiden Boi Novo copper-gold composite sample using a traditional flotation flowsheet akin to those employed in neighbouring Carajás IOCG operations. The 54-kilogram composite, containing 1.20% copper and 0.1 g/t gold, produced a high-quality concentrate grading over 25% copper with recoveries up to 95% for copper and approximately 60% for gold.

This positive outcome suggests that mineralisation at Boi Novo could be amenable to conventional processing routes, enabling potential integration with existing third-party infrastructure nearby, such as CoreX’s Antas Norte plant. Such synergies could underpin future development scenarios focused on smaller, high-grade deposits.

Strategic Location and Next Steps

Situated just 20 kilometres from CoreX’s Antas Norte copper flotation plant and 35 kilometres from Vale’s copper-gold load-out facility, the Boi Novo-Rio Novo project area benefits from excellent infrastructure access. This proximity enhances the attractiveness of the project for future development by reducing capital intensity and facilitating potential toll treatment arrangements.

Looking ahead, Centaurus plans to complete the ongoing surface exploration programs at Rio Novo, including the pending assays, drone magnetics, and FLEM surveys, to fully define drill-ready targets for Q3 2026. Concurrently, the company will continue refining the geological model at Boi Novo and advance its broader drilling strategy. These efforts build on recent successes and align with the company’s broader exploration momentum, including its flagship Jaguar Nickel Project, which recently secured significant financing and offtake agreements binding offtake deal with Glencore and non-binding project finance offers.