Celsius Resources (ASX: CLA) has reported further ‘extensive’ near-surface copper-gold mineralisation from an ongoing drilling campaign at its flagship Maalinao-Caigutan-Biyog (MCB) Project in the Philippines.
The results, generated from drill hole MCB-037, have confirmed and expanded multiple ‘high-grade’ intercepts that are central to an early mine plan at the project.
Key hits include:
- 15.5m @ 1.02% Cu and 0.07g/t Au from 19.5m
- 41.9m @ 0.87% Cu and 0.05g/t Au from 93m
- 150.1m @ 0.86% Cu and 0.47g/t Au from 359.9m
The company notes that the hole delivered a total intersection of 528.7m @ 0.55% Cu and 0.19g/t Au from 19.5m down hole.
Interestingly, the entire intercept contains copper mineralisation above a lower cut-off grade of approximately 0.2% Cu. It is expected that this newly-found shallow copper-gold mineralisation will have a positive impact on future production options in the mine schedule.
Cross section displaying key intercepts including hole MCB-037The MCB copper-gold project is located approximately 320km north of Manila in the Cordillera Administrative Region in the Philippines and is the flagship project within the Makilala portfolio.
The project boasts a maiden JORC-compliant Mineral Resource Estimate of 313.8 million tonnes @ 0.48% Cu and 0.15g/t Au for 1.5 million tonnes of contained copper and 1.47 million ounces of gold.
With the project’s current drilling program ongoing, Celsius reports that it will modify the next set of drill holes to focus on shallow ‘high-grade’ copper-gold mineralisation.
Images: Celsius Resources Ltd
