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Celsius Resources Ltd.
Summary
| Project: | Opuwo | |
|---|---|---|
| Deposit: | Opuwo | |
| Location: | Namibia | |
| Commodities: | Cobalt-Copper-Zinc-Manganese | |
| Date: | 12/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-12-2017: Celsius Resources Ltd. announces an Exploration/Drilling Update report for its Opuwo deposit at the Opuwo project. Drilling results incl. 7m @ 0.12% Co, 0.46% Cu, 0.34% Zn from 59m. Celsius Resources Limited (“Celsius” or “the Company”) is ple | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Brendan Borg (Internal) | |
| ABSTRACT: | Celsius Resources Limited (“Celsius” or “the Company”) is pleased to provide an update on the ongoing resource drilling program at its 95% owned Opuwo Cobalt Project (“Project”) in Namibia. The resource drilling program is nearing completion, with over 14,000 metres completed as at December 9 (Figures 1 and 2). Significantly, a second mineralised DOF horizon has been confirmed in drillhole DOFD0062, which intersected 4.54 m @ 0.12% Co and 0.48% Cu from 56.92 m AND 4.24 m @ 0.15% Co and 0.45% Cu from 80.76 m (Figure 3). Further drilling is required to define the extent of this additional DOF unit. The Company’s geophysical contractor will mobilise an electromagnetic (EM) tool early in the new year, to allow a survey to be conducted on 4 of the deeper drillholes at the Project. The aim of the surveys will be to search for strong conductors in the vicinity of the holes that may represent massive sulphide mineralisation. Pending positive results, this may be followed by a ground electromagnetic (EM) survey to identify areas for additional deeper drilling. With the initial resource drilling nearing completion, our focus will now shift to resource modelling and estimation, as we close in on our maiden resource reporting, scheduled for February. The confirmation of additional zones of mineralisation and further semi-massive sulphide occurrences continues to demonstrate the significant potential upside still to be uncovered at Opuwo. Against a backdrop of cobalt prices reaching USD75,000/tonne, we are looking forward to rapidly advancing the Project in 2018.” | |
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