Celsius MCB project

Celsius Resources returns further shallow ‘high-grade’ copper assays at MCB

Celsius Resources (ASX:CLA) reports further shallow ‘high-grade’ copper assays following an ongoing drilling campaign at its flagship MCB Copper-Gold Project in the Philippines.

The results have continued to identify new positions of shallow mineralisation and are in line with other recent drilling results, confirming the existence of an extensive shallow higher-grade zone.

Key intersections include 93m @ 0.59% Cu and 0.05g/t Au from 18m including 47m @ 0.79% Cu and 0.07g/t Au from 18m. An additional intersection of 7.4m @ 0.65% Cu and 0.41g/t Au from 349.1m was also reported.

Commenting on the results, Celsius Resource Country Operations Director Peter Hume said: “The results from MCB are continuing to grow the size of the shallow higher grade copper zones.

“The results from MCB are continuing to grow the size of the shallow higher grade copper zones”

We are getting much better definition now on the various high-grade zones, which are important for the optimisations of the MCB mine plan. We can see many good high-grade intersections coming together to expand on the earlier understanding of these high-grade zones.

Where we get multiple high-grade zones staked on top of each other, we can achieve outstanding results, as recently announced from hole MCB-038 which intersected 611.4m @ 1.39% Cu and 0.75g/t Au from 32.5m.”

The company also notes that it continues to define a large, broader envelope of copper mineralisation at a lower cut-off grade at about 0.2% Cu, demonstrating the ‘large-scale’ potential of copper-gold mineralisation at the MCB deposit.

In addition, the results from drillhole MCB-039 have confirmed further extensions to the known ‘higher grade’ copper mineralisation as part of a series of flat lying ‘high-grade’ zones which are extending away from vertically and orientated feeder structures.

The MCB Project is located about 320km north of Manila on the Philippines main island of Luzon.

The project currently has a JORC Mineral Resource Estimate (MRE) of 313.8Mt @ 0.48% Cu, and 0.15g/t Au at a cut-off grade of 0.2% Cu of which 290.3Mt @ 0.48% Cu is in the Indicated category and 23.5Mt @ 0.48% Cu is in the Inferred category.

With assays returned, Celsius announces that it has moved forward with drillhole MCB-040 to further expand the ‘higher grade’ copper mineralisation and deliver potential improvements to its scoping study.

Images: Celsius Resources Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.