Quite thick semi-mass to massive nickel sulfide intercepts from filling and extended drilling at the Jaguar Central Deposit, and thick, shallow, high-grade nickel at Jaguar North.
CTM enjoys the rewards of maintaining intensive exploration activities following the recent acquisition of Vale’s wholly owned Jaguar Nickel Sulphide Project in Brazil. Jaguar represents the Nickel Sulfate project on the surface and has just announced 48.0mt @ 1.08% Ni Maiden JORC 2012 compliant resources for 517,500 tonnes of nickel. The Jaguar deposit is unique in the field of nickel sulfide, where the mineralization of high-grade nickel sulfide appears almost on the surface and at the same time continues deep. More than 80% of the nickel metal of Maiden Resources is within 200m from the surface of the earth, demonstrating the potential of the project’s powerful open pit mining. Jaguar is already one of the world’s largest undeveloped nickel sulphate projects near the surface, with the deepest holes in the CTM to date extending to a depth of only 300m. This means that in the context of nickel sulphide, the CTM just scratched the surface.
Jaguar Nickel Project Update
CTM has announced more promising results from the Jaguar Central and Jaguar North deposits as it continues its drilling campaign on its 100% owned Jaguar Nickel Sulfide Project in the Karajas Minerals State of Brazil.
Jaguar drilling supports and enhances the recent Maiden JORC 2012 Mineral Resources Estimate (MRE) with a CTM of 48.0 Mt at 1.08% Ni, consistent with high quality, shallow intersections of semi-mass and massive nickel sulphates. If it contains 517,500 tons of nickel, it will continue to provide the flow. Many of the new assay results are from expansion and step-out drill holes that were not included in the June 2020 MRE and are expected to help build existing MREs.
The latest analysis includes some of the best drilling results ever produced from the Jaguar project, suggesting a further short-term increase in existing mineral resources, as well as high-margin nickel sulphate mines. Emphasizes development prospects. High-quality properties of mineralization that extend from the surface of the earth and remain open in the depths. The highlight is a 33.7m intercept at 2.23% Ni at Jaguar Central, which arises from a depth of only 46m.
Many of the latest reported results support the high-grade components of the company’s mineral resources. This mineral resource contains an estimated 321 kt of nickel with a Ni grade of 1.5% or higher, and 70% or more of the high grade resource has a surface of 200 m, which is suitable for open pit mining. The CTM Virgin Resources Estimate released in June contains more than 500,000 tons of nickel with an average grade of 1.0% or higher nickel.
With the third diamond rig reactivated in the coming weeks and all three diamond rigs resuming double-shift operations, CTM will strengthen its designated components of mineral resources through fill drilling while at the same time conducting some testing. Aim to do. Deeper targets where the DHEM conductor plate extends well below the current drilling depth and is likely to represent semi-mass and massive sulfides.
CTM is making great strides in the Jaguar project, a fact reflected in the company’s strong stock performance. The company’s first major milestone was the provision of the first Jaguar JORC 2012 compliant MRE, but this is just the beginning. Ongoing drilling shows that the mineralization extends from shallow depths along the strike, thick, high-grade and consistent. Important is the near-surface nature of mineralization, where 80% of current resources are within 200 meters of the surface. In short, mining, cost, and dignity are similar to open pit gold operations.
From a big picture perspective, the Jaguar Project provides CTM with the opportunity to pursue the development of nickel sulphide projects in advanced and well-placed areas, offering the potential for advanced open pit development. Nickel sulphide deposits such as Jaguar are extremely rare worldwide, and the successful acquisition of such assets by CTM is a breakthrough.
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