CentroGold is located in the Gurupi geological province in the state of Maranhão, between the Carajas mining district and the Atlantic coast. It is one of the largest undeveloped gold projects in Brazil operated by OZ Minerals with three main open pit deposits: Blanket, Contact, and Chega Tudo. The recent Pre-Feasibility Study outlined a seven-year life of mine operation where production in the first two years is expected to average 190Koz to 210Koz gold annually and 145Koz to 165Koz ounces per year over the first six years with an expected ~1.1Moz of total production excluding Chega Tudo. OZ Minerals expects to complete an updated Feasibility Study on the project over the next two years with the potential addition of the Chega Tudo deposit and production expected to begin in 2024.
The CentroGold Contact and Blanket deposits remain open at depth and the expansive land package presents a great deal of exploration potential including eight identified targets that may yield complimentary satellite deposits. The current mine plan does not include the Chega Tudo deposit, approximately eight kilometers to the west of the Contact & Blanket deposits. Chega Tudo is the third near surface deposit which provides near-term potential to extend the mine plan or to expand the production profile at CentroGold. Recent work on the CentroGold project included progression of permitting and environmental licensing with regional exploration efforts focused on trenching and sampling the eight other known targets in the CentroGold land package, specifically Mandiocal and Sequeiro. In 2021, Oz Minerals expects to continue permitting and environmental licensing efforts and begin an expanded drill program on the CentroGold project and several exploration targets including an update to the Mineral Resource and Ore Reserve estimate.
Interest: 1% NSR Royalty on 500koz, 2% NSR on next 1Moz, 1% NSR thereafter
Location: Maranhao, Brazil
Project Status: Development
Counterparty: Oz Minerals (ASX: OZL)
CentroGold Contact & Blanket Reserve & Resource Estimate
Chega Tudo Resource Estimate