Celsius Resources update on Opuwo Cobalt Project

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Celsius Resources Limited announced that update on the latest developments, and forward work program, at its 95% owned Opuwo Cobalt Project in Namibia. In order to test the potential upside to the depth of the resource, a single diamond drillhole was drilled approximately 300 metres north of the resource drilling area. This hole has intersected 4 m @ 0.13% Co and 0.40% Cu, from 480 m to 484 m down hole, consistent with other near surface results in the area. The sulphides present are noted to be considerably coarser than elsewhere in the deposit. The mineralisation at this location is interpreted to result from remobilisation of the metals of interest into the more intense sulphide bands observed in the core. Several other deep holes have also intersected mineralisation and have assays pending.

Mr Brendan Borg Managing Director of Celsius, commented that "The confirmation of significant down-dip extension to the cobalt and copper mineralisation at Opuwo has dear implications for the scale of the Project. We are on track to report our maiden Mineral Resource in February, and look forward to reporting a large number of significant drilling results in the lead up to this event."

Source : Strategic Research Institute SteelGuru