Celsius Resources (ASX: CLA) has reported ‘significant’ copper-gold mineralisation from the maiden drill hole of its exploration campaign at the Sagay Copper-Gold Project in the Philippines.
Assays from Hole SGY-031, the first of the seven planned the at the project’s Nabiga-A Hill prospect, have returned true widths of up to 300m based on a 0.2% Cu cut-off. The total intersection is 319.5m @ 0.53% Cu and 0.13g/t Au from 837.8m down hole.
High-grade core was also confirmed to extend vertically, and appears to be controlled by large-scale breccias which can also be identified on the surface.
Higher-grade intervals using a 0.5% Cu cut-off include 192.2m @ 0.6% Cu and 0.13g/t Au from 886m down hole, and 26.0m @ 0.85% Cu and 0.24g/t Au from 1,128m down hole.
“The copper-gold mineralisation at Nabiga-A Hill clearly has large scale potential”
Addressing the result, Celsius Resources Managing Director Robert Gregory said: “The copper-gold mineralisation at Nabiga-A Hill clearly has large scale potential. On the surface there is a silica cap and alteration typical of a big porphyry system. Defining the trend of the mineralisation now gives us the opportunity to test how far the system extends to the surface beneath the silica cap.”
Based on the outcropping breccia bodies and close-to-vertical controlling structures, Celsius believes that the copper-gold mineralisation may extend upwards from these deeper positions.
Cross section displaying Hole SGY-031 relative to interpreted geology at the Sagay Copper-Gold ProjectThe Sagay Copper-Gold Project is located in the north-eastern part of Negros Island, within the Province of Negros Occidental in the Philippines. The project appears to contain ‘very large-scale’ porphyry copper mineralisation at depth, defined by ‘numerous’ historical drill intersections.
The company, via subsidiary TMCI, had previously completed 25,056m of drilling across 31 diamond holes at the project, for a total cost of approximately $10.8 million.
Looking forward, the next phase of drilling at Sagay is already underway, targeted at up-dip extensions of the mineralisation defined in SGY-031 and surrounding historical drilling.
Images: Celsius Resources Limited
