Media

• Drilling has commenced at Opuwo Cobalt Project.
• The first hole has now been completed.
• 8x 150m PQ diamond holes to be drilled for new metallurgical test work.
• Additional metallurgical test program to also be undertaken.

Celsius Resources is pleased to announce that its Namibian subsidiary, Opuwo Cobalt Mining Pty Ltd has commenced drilling at the Opuwo Cobalt Project in Namibia. The first of eight PQ diamond drill holes has been completed. The ore was intercepted at the exact location modelled reinforcing the consistent nature of the Dolomite Ore Formation (“DOF”).

There have been heavy rains on site delaying mobilisation. Drilling is now occurring on two shifts and the remaining 7 holes are scheduled to be completed by end of April. Approximately 4 tonnes of fresh metallurgical sample will be obtained during the program.

As previously announced, past metallurgical test work carried out on Opuwo focused on producing a concentrate via flotation and then recovering the cobalt via either autoclave leaching or concentrate roasting. With a better understanding of the ore mineralogy, opportunities have arisen for enhancing the commercial viability of Opuwo through application of tailored metallurgical processes.

Celsius MD Robert Gregory commented: “The Opuwo Project has the potential to be a world-class source of future cobalt supply. The conclusion of the drill program to generate ore samples for the commencement of the metallurgical testing and development work programs is an important step in establishing the feasibility of the Opuwo project. Of note, the identified processing options encompass both low cost and reduced environmental footprint that aligns with the increasing demand for cobalt and copper in electric vehicles.”

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