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Celsius Resources Ltd.
Summary
| Project: | Opuwo | |
|---|---|---|
| Deposit: | Opuwo | |
| Location: | Namibia | |
| Commodities: | Cobalt-Copper-Zinc | |
| Date: | 10/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2018: Celsius Resources Ltd. announces a Resource Estimation report for its Opuwo deposit at the Opuwo project. Exploration Target for Opuwo Cobalt project. Celsius Resources Limited (“Celsius” or “the Company”) is pleased to provide an update regar | |
| Resources: | Exploration Target: 34 - 51Mt @ 0.08% - 0.18% Co, 0.26% - 0.62% Cu, 0.35% - 0.82% Zn | |
| CP/QP: | [Overall Report]: Brendan Borg (Internal) | |
| ABSTRACT: | Celsius Resources Limited (“Celsius” or “the Company”) is pleased to provide an update regarding the resource expansion potential at its 95% owned Opuwo Cobalt Project (“Project”) in Namibia. Data from 52 holes drilled to the west of the existing Mineral Resource has enabled the Company to generate an additional Exploration Target of between 34 and 51 million tonnes, grading approximately 0.08% - 0.18% cobalt, 0.26% - 0.62% copper, and 0.35% - 0.82% zinc. It is noted that the potential quantity and grade is conceptual in nature, and that there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of an additional Mineral Resource for this zone. Formal resource modelling will be undertaken following receipt of all assays from the recently completed drilling in the West Zone, with an updated Mineral Resource estimate planned to be reported in Q4, 2018. Celsius Managing Director, Brendan Borg commented: “This new Exploration Target for the West Zone provides confidence that Opuwo’s already large Mineral Resource has significant potential to continue to grow. Final assays for the recently completed drill program in this area are expected shortly, after which formal resource modelling and estimation will be undertaken by the Company’s independent resource consultants.” | |
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