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Celsius Resources Ltd.

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Summary

Project:

Opuwo

Deposit:Opuwo
Location:Namibia
Commodities:Cobalt-Copper-Zinc
Date:6/8/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:8-6-2017: Celsius Resources Ltd. announces an Exploration/Drilling Update report for its Opuwo deposit at the Opuwo project. Drilling results incl. 10m @ 0.14% Co, 0.43% Cu, 0.47% Zn from 62m. Celsius Resources Limited (“Celsius” or “the Company”) is plea
Resources:x
CP/QP:[Overall Report]: Brendan Borg (Internal)
ABSTRACT:Celsius Resources Limited (“Celsius” or “the Company”) is pleased to announce continuing strong assay results from drilling at the Opuwo Cobalt Project (“Project”) in Namibia. New sample assays have extended cobaltcopper mineralisation across a distance of approximately 12 km (Figure 1). Celsius Managing Director, Brendan Borg commented: “The assay results from Opuwo continue to expand the cobalt-copper mineralised zone. Importantly, zones of higher grade mineralisation, at over 0.2% cobalt, are being discovered at the Project by Celsius. In our view the continued strength in the cobalt price, currently at over USD56,000 per tonne, increases the appeal of a cobalt dominant Project, such as Opuwo.” Results are consistent with previous batches of results received (refer ASX releases from 20 April, 27 April and 8 May, 2017), and importantly continue to show potential for higher grade zones within the extensive mineralised system at Opuwo. Results from holes DOFR21 to DOFR24, reported in this release, are located outside the currently defined Exploration Target, consisting of between 33 and 41 million tonnes, grading approximately 0.13% - 0.17% cobalt and 0.45% - 0.65% copper, and demonstrate the potential to expand this target as further results come to hand. (Please refer to ASX release of 18 May, 2017 for details on the Exploration Target). 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 a Mineral Resource.

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