Centaurus Metals discovered a 77Mt resource for the company’s Jambreiro iron ore project in Minas Gerais, Brazil. The site could become the company’s main foundation for iron ore production as this discovery increases their overall JORC compliant resource inventory to 131.6Mt in southeast Brazil. Based on metallurgical test work, comparison with other itabirite hosted iron ore deposits in the region and feasibility work, Centaurus determined that the resource base can produce 50 million tons of high grade hematite product. Beneficiation test work on the compact itabirite mineralisation at the site is currently underway. In order to meet their goal of 3Mt/yr by 2013 the company will re-commence drilling to upgrade their resource to measured and indicated. Following completion of the beneficiation test work, pre-feasibility study work will begin in 2011.