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Celsius Resources Ltd.
Summary
| Project: | Opuwo | |
|---|---|---|
| Deposit: | Opuwo | |
| Location: | Namibia | |
| Commodities: | Cobalt-Copper-Zinc | |
| Date: | 11/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-11-2018: Celsius Resources Ltd. announces a Scoping Study report for its Opuwo deposit at the Opuwo project. Scoping Study results positive for Opuwo project. Celsius Resources Limited (“Celsius” or “the Company”) is pleased to advise that it has comple | |
| Resources: | (Resource, I+I): 112.4Mt @ 0.11% Co, 0.41% Cu, 0.43% Zn | |
| CP/QP: | [Overall Report]: Brendan Borg (Internal) | |
| ABSTRACT: | Celsius Resources Limited (“Celsius” or “the Company”) is pleased to advise that it has completed a Scoping Study (Study) on its 95% owned Opuwo Cobalt Project (“Project”) in Namibia. The results of the Study justify progression to a Pre-Feasibility level of Study at the Project, which will commence immediately. The Study was completed with contributions from the following external consultants The Opuwo Project hosts Indicated and Inferred Mineral Resources, and an Exploration Target for the West Zone. A portion of the Inferred Mineral Resources/Exploration Target for the West Zone were included in the Scoping Study, and while not anticipated to feature as a significant proportion early in the mine plan, in accordance with ASX Interim Guidance: Reporting Scoping Studies, the ASX Listing Rules and ASIC Information Sheet 214, as the respective proportions of Inferred Mineral Resource and Exploration Target currently defined are likely determining factors in assessing project economics, Celsius is currently prevented from reporting a production target or forecast financial information based on a production target. The results of the Study provide justification for the Company to proceed to a Pre-Feasibility Study (PFS) on the Project. The PFS will be preceded by a trade-off study, the outcomes of which will more clearly define the Scope of Work for the PFS. The Company will update the market as the results of these studies become available. Celsius Managing Director, Brendan Borg commented: “The Project Scoping Study has identified that a potentially large and long-life operation is possible at Opuwo. The Study has identified two process routes that are technically viable, to produce downstream (or refined) products from the Opuwo Mineral Resource. Preliminary studies of environmental, social, power, infrastructure and water supply considerations indicate no significant impediments to the development of the Project. Further, a series of opportunities to enhance and more clearly define the economic value of the Project have been identified, and will form a key part of the Pre-Feasibility Study.” | |
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