Celsius confirms strong drill results at flagship MCB Project
Celsius Resources has released its latest drill results from the flagship MCB copper-gold project:
- Continuity of high-grade core confirmed with assay results from MCB-033, including 87.85m @ 1.24% Cu and 0.36g/t gold from 305m down hole.
- Total intersection of 619m @ 0.41% copper and 0.08g/t gold (true width est. of ~408m) from 17m down hole.
- MCB-033 has successfully achieved its primary objective of confirming the geological and grade continuity leading to improved confidence in the MCB Mineral Resource estimate.
- Results improve confidence in the existing MCB Mineral Resource estimate.
- Drilling of MCB-034 is well underway (currently at 380 metres), which is positioned to the northeast of MCB-033 along strike of the high-grade copper-gold mineralisation.
- Further drill holes are planned to test the open depth extent to the high-grade copper-gold positions.
In encouraging news, Celsius Resources’ Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”) has confirmed high-grade copper-gold assay results from the Company’s first drill hole, which was completed at the MCB Copper-Gold Project, located on the island of Luzon in the Philippines.
The results from Hole MCB-033 confirm the high-grade mineralisation and increase confidence in this portion of the mineral resource.
“We are delighted that these results confirm the significance of our maiden mineral resource and continue to validate our confidence in the high-grade copper-gold core at our MCB project. This high-grade core is the main focus of our Scoping Study, which is progressing well,” said Celsius Resources Executive Director Blair Sergeant.
Significant intersections within the above-mentioned high-grade core included 87.85m @ 1.24% Cu and 0.36g/t gold, confirming the geological and grade continuity, improving the confidence on current JORC Compliant Mineral Resource Estimate
The team was also able to successfully complete downhole surveys and fitting of vibrating wire piezometers (VWP) to record subsurface pore water pressure, which is important for supporting the development of a hydrological model as part of the mine planning, a key component of the MCB Project Scoping Study.
Rehabilitation of the MCB-033 site is ongoing.