Centaurus Closes in on Initial JORC Resource at Jambreiro

International iron ore company Centaurus Metals is pleased to report strong results from its 100%-owned Jambreiro Iron Ore Project in south-east Brazil, reinforcing its confidence barmac crusherin the ability of the Project to be a cornerstone of its emerging Brazilian domestic iron ore production business.

The positive results – from initial beneficiation test work, re-sampling and re-assay of historical drill core and a recently completed RC percussion and diamond resource drilling program – will pave the way for a maiden JORC resource estimate for the Jambreiro Project, which is expected in October 2010.

Re-sampling of Historical Drill Holes

The Company has received assay results from re-sampling seven historical vertical diamond holes that were drilled by Cenibra in 2007. Wide intersections of mineralisation were confirmed in most of the holes, including 85.8 metres of iron mineralisation in Hole JAM003. Significant intersections include:

• Hole JAM001 18.4 metres @ 33.1% Fe, 3.66% Al2O3 and 0.03% P from surface


• 33.1 metres @ 35.8% Fe, 2.99% Al2O3 and 0.05% P from 20.4 metres


• Hole JAM002 25.5 metres @ 34.2% Fe, 1.06% Al2O3 and 0.01% P from surface


• Hole JAM003 85.8 metres @ 32.0% Fe, 4.20% Al2O3 and 0.03% P from surface


• Hole JAM006 21.6 metres @ 30.3% Fe, 1.24% Al2O3 and 0.02% P from 2.4 metres


• Hole JAM007 37.3 metres @ 27.5% Fe, 2.74% Al2O3 and 0.04% P from 51.3 metres

The ore type encountered in the drilling was predominantly coarse grained friable itabirite.

Beneficiation Test Work

Centaurus’ preliminary beneficiation test work on a 200kg bulk sample collected from five locations within the Jambreiro mineralised zone produced a 63% Fe coarse sinter hematite product with very low levels of phosphorus and alumina.

The average iron grade of the sample collected was 32.6% Fe from which a low cost gravity upgrade process (spirals) produced the 63% Fe sinter product. In addition, a metal recovery of better than 93% Fe to concentrate was achieved, highlighting the purity of the hematite in the Jambreiro mineralisation.

While this low impurity, 63% Fe coarse sinter hematite product is already highly sought after in the Brazilian domestic market, Centaurus expects that a coarse grained 65% to 66% Fe product can be achieved with some further silica liberation and minor refinement of the demonstrated gravity separation process.

Resource Drilling Program

Centaurus has recently completed an initial resource drilling program on the Jambreiro iron ore mineralisation. Results from this drilling are expected in the next four weeks. Logging of the core and RC chips has highlighted some broad intersections of itabirite up to 100 metres in width and shows a large proportion of the itabirite mineralisation encountered as being friable, coarse grained and amenable to beneficiation to a high grade hematite concentrate.

Once assay results are received from this drill program, and the main beneficiation test work is completed on the new core and RC drill chips, an initial resource estimate will be undertaken for the Jambreiro Project as a precursor to a detailed mining study.

Centaurus’ Managing Director, Mr Darren Gordon, said: “We are very pleased with the results from the Jambreiro Iron Ore Project to date and look forward to pushing ahead with development of this quality project as a centrepiece of our domestic iron ore business in Brazil.

“We are particularly pleased with the beneficiation results which illustrate the ease with which the iron mineralisation at Jambreiro can be upgraded via a low cost gravity separation process to a high-grade saleable hematite product.

“We look forward to receiving the assays from our first phase of drilling in the coming weeks, and then being able to deliver an initial JORC resource in the coming months on what is shaping up as a very exciting project for Centaurus.”