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Maalinao-Caigutan-Biyog (MCB Project)

The Maalinao-Caigutan-Biyog (MCB Project) is Celsius Resources’ world-class copper-gold project situated in the Philippines on the country’s main island of Luzon - about 320 km north of Manila.

The MCB Project, which is held by CLA’s Philippine subsidiary, Makilala Mining Company, Inc., contains a JORC Mineral Resource estimate comprising 313.8Mt @ 0.48% copper, and 0.15g/t gold, at a cut-off grade of 0.2% copper of which:

290.3Mt @ 0.48% copper is in the Indicated category; and

23.5Mt @ 0.48% copper is in the Inferred category.

Within the above mentioned JORC Resource is a high-grade core of 93.7Mt @ 0.80% copper and 0.28g/t gold, at a cut-off grade of 0.5% copper.

MCB Copper-Gold Project Maiden JORC Mineral Resource

The advanced MCB Project was owned by Freeport-McMoRan – the world’s third largest copper producer, who invested in excess of $14.5m in Country on this asset.  Historical exploration conducted by Freeport delivered some incredible drill intersections, including:

  • 384.00 m @ 1.25% copper & 0.46 g/t gold, within 767.00 m @ 0.77% copper & 0.27 g/t gold
  • 177.00 m @ 1.98% copper & 0.95 g/t gold, within 630.50 m @ 0.81% copper & 0.32 g/t gold
  • 186.85 m @ 1.84% copper & 0.86 g/t gold, within 612.00 m @ 0.82% copper & 0.31 g/t gold
  • 243.30 m @ 1.38% copper & 0.75 g/t gold, within 505.00 m @ 0.87% copper & 0.38 g/t gold
  • 92.00 m @ 1.80% copper & 1.12 g/t gold, within 680.00 m @ 0.54% copper & 0.20 g/t gold


For more information, please read our Scoping Study (released 1/12/21).

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Makilala is currently undertaking a 4,000 metre drilling program, comprising 6 diamond holes:

FIRST HOLE RESULTS: (MCB-033)
  • Total intersection of 619m @ 0.41% copper and 0.08g/t gold (true width est. of ~408m) from 17m down hole; including
  • 87.85m @ 1.24% copper and 0.36g/t gold from 305m down hole.
Celsius receives high grade copper-gold results from first drill hole at MCB Project
SECOND HOLE RESULTS: (MCB-034)
  • Continuity of high-grade core confirmed with assay results from MCB-034, including 74m @ 0.97% Cu and 0.14g/t gold from 353m down hole.
  • Total intersection of 607m @ 0.44% copper and 0.04g/t gold from 26m down hole.
Celsius receives further high-grade copper-gold results from MCB Project
THIRD HOLE RESULTS: (MCB-036)
  • New section of shallow high-grade copper intersected from diamond drill hole MCB-036
  • Total intersection of 670.7m @ 0.43% copper and 0.12g/t gold from 19m down hole.
  • Including internal shallow higher-grade intervals of:
    • 122.2m @ 0.92% copper and 0.24g/t gold from 26.5m and,
    • 13m @ 3.69% copper and 0.39g/t gold from 89m
  • Copper mineralization starts at surface and is now confirmed to extend to depths of over 700m below surface.
  • New shallow higher-grade sections of copper-gold mineralization to be followed up in a modified extension to the drilling program at MCB.
Shallow High-Grade Copper Intersected in MCB-036
FOURTH HOLE RESULTS: (MCB-037)
  • Extensive copper mineralisation from near surface to the end of hole in MCB-037.
  • Total intersection of 528.7m @ 0.55% copper and 0.19g/t gold from 19.5m down hole.
  • Multiple sections of high-grade copper confirmed:
    • 15.5m @ 1.02% copper and 0.07g/t gold from 19.5m,
    • 41.9m @ 0.87% copper and 0.05g/t gold from 93m and,
    • 150.1m @ 0.86% copper and 0.47g/t gold from 359.9m.
Celsius Resources confirms multiple high-grade copper positions at MCB-037
FIFTH HOLE RESULTS: (MCB-038)
  • Intersection of 611.4m @ 1.39% copper and 0.75g/t gold from 32.5m (1.67% CuEq*).
  • Multiple internal higher-grade results confirmed:
    • 150.85m @ 1.90% copper and 1.57g/t gold from 207.15m (2.55% CuEq*),
    • 234.45m @ 1.90% copper and 0.87g/t gold from 391.55m (2.22%CuEq*) and,
    • 77.55m @ 2.47% copper and 2.12 g/t gold from 232.10m (3.34%CuEq*)
CLA hits 611.4m @ 1.39% copper and 0.75g/t gold at MCB

Drilling results

Significant historical and current drilling results are shown in Figure 1, with MCB-033 being the first hole in the current 6 hole drilling program;

767.00 m @ 0.77% copper and 0.27 g/t gold, from 30 m, including
384.00 m @ 1.25% copper and 0.46 g/t gold, from 384 m (MCB-030)

630.50 m @ 0.81% copper and 0.32 g/t gold, from 11.5 m, including
177.00 m @ 1.98 % copper and 0.95 g/t gold, from 349 m (MCB-018)

612.00 m @ 0.82% copper and 0.31 g/t gold, from 18 m, including
186.85 m @ 1.84% copper and 0.86 g/t gold, from 363 m (MCB-009)

505.00 m @ 0.87% copper and 0.38 g/t gold, from 29 m, including
243.30 m @ 1.38% copper and 0.75 g/t gold, from 103 m (MCB-002)

680.00 m @ 0.54% copper and 0.20 g/t gold, from 34 m, including
92.00 m @ 1.80% copper and 1.12 g/t gold, from 382 m (MCB-029)

325.00 m @ 0.86% copper and 0.13 g/t gold, from 18 m (MCB-011)

548.80 m @ 0.51% copper and 0.03 g/t gold, from 8 m (MCB-010/10A)

438.70 m @ 0.45% copper and 0.16 g/t gold, from 4 m (MCB-019)

452.50 m @ 0.48% copper and 0.06 g/t gold, from 31.5 m, including
41.25 m @ 0.81% copper and 0.08 g/t gold, from 109.50 m and
54.00 m @ 0.63% copper and 0.06 g/t gold, from 280.00 m (MCB-003)

222.65 m @ 0.62% copper and 0.60 g/t gold, from 11.35 m, including
142.90 m @ 0.81% copper and 0.85 g/t gold, from 11.35 m (MCB-025)

384.00 m @ 0.40% copper and 0.26 g/t gold, from 8 m, including
28.00 m @ 0.63% copper and 0.26 g/t gold, from 354 m (MCB-020)

540.60 m @ 0.37% copper and 0.06 g/t gold, from 18 m, including
12.00 m @ 0.80% copper and 0.06 g/t gold, from 146 m and
14.90 m @ 0.58% copper and 0.65 g/t gold, from 276 m (MCB-008)

359.80 m @ 0.40% copper and 0.11 g/t gold, from 4 m (MCB-001)

142.00 m @ 0.61% copper and 0.43 g/t gold, from 174 m, including
76.00 m @ 0.72% copper and 0.60 g/t gold, from 204 m (MCB-022)

252.00 m @ 0.42% copper and 0.11 g/t gold, from 46 m, including
42.00 m @ 0.48% copper and 0.20 g/t gold, from 50 m (MCB-023)

Picture1

Figure: Cross-section of drill holes relative to the interpreted geology and significant assay results at MCB

Sagay Project (Nabiga-a Hill Prospect)

Is owned and operated by Celsius Resources’ Philippine subsidiary, Tambuli Mining Company, Inc. (“Tambuli”) and is located in the centre of the Philippines archipelago in the northern part of Negros Island. Historical drilling highlights a very large-scale porphyry copper mineralisation at depth, as defined by the numerous thick drill hole intersections.

Tambuli completed its technical due-diligence and evaluation resulting in the CLA Board deciding to pursue further exploration of its second asset in the Philippines.

Drilling operations have now commenced:

  • Drilling contractor has been appointed for 7 diamond drill holes totalling approximately 4,400 metres.
  • The current exploration program is planned for three broad priority targets and upon completion, should facilitate the declaration of a maiden JORC Mineral Resource Estimate.
  • Planning for the implementation of the mandatory Environmental and Community Development Programs is well underway.


Results from historical drilling conducted by Freeport-McMoRan include:

  • 77.22m @ 0.69% copper & 0.19 g/t gold, within 521.37m @ 0.47% copper & 0.13g/t gold,
  • 113.96m @ 0.68% copper & 0.20 g/t gold, within 461.38m @ 0.49% copper & 0.14 g/t gold,
  • 23.93m @ 1.03% copper & 0.51 g/t gold, within 207.48m @ 0.44% copper & 0.12g/t gold,
  • 26.74m @ 0.89% copper & 0.02 g/t gold, within 80.28m @ 0.64% copper & 0.03g/t gold,
  • 25.79m @ 0.98% copper & 0.01g/t gold, within 56.86m @ 0.58% copper & 0.02g/t gold,
  • 390.09m @ 0.46% copper & 0.11 g/t gold
Print
Picture12

Cross-section of hole SGY-036 relative to the interpreted geology and earlier significant assay results which exist beneath hole SGY-036

FIRST HOLE RESULTS: (SGY-031)
  • Confirmed large-scale copper-gold at Sagay with true widths of up to 300m based on a 0.2% copper cut-off.
  • Total intersection of 319.5m @ 0.53% copper and 0.13g/t gold from 837.8m down hole using a 0.2% copper cut-off.
  • High-grade core also confirmed to extend vertically and controlled by large-scale breccias which can also be identified on the surface.
  • • Higher grade intervals using a 0.5% copper cut-off intersected are:
    • 192.2m @ 0.6% copper and 0.13g/t gold from 886m down hole, and
    • 26.0m @ 0.85% copper and 0.24g/t gold from 1128m down hole
  • Vertical extensions to the defined large-scale copper-gold mineralisation to be tested up-dip at shallow levels underway.
  • Alteration and extensive copper mineralisation highlight the potential for large scale mineralisation at Sagay to extend up close to surface.
Celsius Resources Confirms Large-Scale Copper-Gold at Sagay
THREE SHALLOW HOLES RESULTS: (SGY-035, SGY-036-SGY-038)
  • Results from 3 drill holes confirms copper mineralisation at depths of less than 45 metres.
  • SGY-036 intersected extensive brecciation, silicified rock and the observable presence of the copper minerals chalcocite, chalcopyrite and covellite, with a best intersection of 44.3m @ 0.27% copper.
  • Key geological features including breccia bodies, stockwork veining, large scale alteration and extensive copper mineralisation highlight the potential for large scale mineralisation at Sagay to extend up close to surface.
Celsius Confirms Copper Near Surface at Sagay Project
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Malangsa Prospect

Owned and operated by Celsius Resources’ Philippine subsidiary, PDEP, Inc., Malangsa is located in Southern Leyte and is an early stage copper-gold prospect with possible economic porphyry and epithermal mineralisation.

A rapid survey was conducted in 2009 and determined presence of Cu-Au in stream samples.

Situated in the middle of two known productive small-scale gold mine camps where samples were collected from veins with reported values of up to 6.81% Cu, 7.66ppm Au and 148ppm Ag.

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