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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, which is currently the subject of a Scoping Study due to be completed towards the end of Q3 2021.
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
Makilala is currently undertaking a 4,000 metre drilling program, comprising 6 diamond holes:
| FIRST HOLE RESULTS: |
|
|---|---|
| SECOND HOLE RESULTS: |
|
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)
![Celsius0084A[1]](https://celsiusresources.com.au/wp-content/uploads/2021/06/Celsius0084A1-scaled.jpg "Celsius0084A[1]")
Figure 1: Cross Section A-B with highlighted drill hole intercepts and interpreted geology
