Overview

Mine Type	Open Pit
Stage	Permitting
Commodities	Iron Ore
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	The Jambreiro Project’s potential economics have continued to improve since the July 2019 PFS was completed, and in May 2020, Centaurus updated the key inputs to the Jambreiro project economics, including: - Updating of the Capex for CDE Global’s latest proposal for the 1Mtpa modularised plant (including corresponding adjustment to the contingency on the capex; and - Applying up to date FX considerations for the GBP, AUD and USD against the BRL. Consistent with the 2019 PFS, the results of the updated 1Mtpa PFS considered forecast production of 17.9Mt of high-grade low-impurity product at a rate of 1Mtpa over a period of 18 years using the same resource and reserve previously outlined. All other inputs and parameters used in the Revision were the same as those that outlined in the July 2019 PFS Results release of 5 July 2019. There were no material changes required to the assumptions underlying the Jambreiro Ore Reserves outlined above.

Deposit type

• Iron formation hosted

Summary:

The Jambreiro Project is part of a sequence of Archean to lower Proterozoic iron formations (locally known as “itabirite”) and described as the Guanhães Group in the Guanhães region. Mineralisation is hosted in a metavolcanic-sedimentary sequence of rocks including itabirites, quartz-mica schist, amphibolite and gneiss. The friable itabirite extends to a vertical depth of 120m before becoming more compact. The principal ore zone, known as the Tigre Deposit, has a strike extent of 1.8km with true widths varying between 40-80m.

There are three satellite prospects in the immediate project area within 500m of the Tigre Deposit, being: the Cruzeiro, Galo and Coelho (North and South) Deposits. The friable iron mineralisation is continuous along strike, homogenous, medium to coarse grained and composed of mainly hematite and quartz with small amounts of magnetite.

The Itabirite mineralisation comprises concentrations of medium - coarse grained friable, semi-compact and compact material that have undergone enrichment. The mineralisation is composed of quartz, hematite, magnetite, martite with minor goethite, limonite, amphibole (Grunerite), Mica (muscovite) and clay minerals.

Itabirite thicknesses vary from 10m to up to 100m generally dipping 45-70° to the W-SW. The combined strike length of the mapped mineralisation is around 3,000m. Itabirite has been intersected at depths of 240m with friable itabirite intersected to 80m.

With the combination of the Tigre (1,700m), Cruzeiro (1,200m), Galo (1,500m) and Coelho (900m) prospects, the Jambreiro Resource has dimensions of approximately 5,500m of total strike length. The ore body outcrops in most places with a localized thin colluvial cover in places and is open at depth with the deepest mineralisation being intersected at 240m depth. The mineralisation is between 10-100m thick with the average thickness in the main deposit (Tigre) being around 60m.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

Operational metrics

Personnel

Job Title	Name	Phone	Profile	Ref. Date
.......................	.......................	...........		Jan 16, 2024

Total Workforce	Year
......	2019