Sign up Australia
Proactive Investors - Run By Investors For Investors

Celsius Resources drilling assays high-grade cobalt in Namibia

Continued strength in the cobalt price increases the appeal of the project.
Celsius Resources drilling assays high-grade cobalt in Namibia
A scoping study is expected to be completed before the end of 2017

Celsius Resources (ASX:CLA) is continuing receive strong assay results from drilling at the Opuwo Cobalt Project in Namibia.

New sample assays have extended cobalt-copper mineralisation across circa 12 kilometres.

Significant intercepts from the latest batch of drilling assays, using a cut-off grade of 0.05% cobalt, include:

- 6 metres at 0.17% cobalt and 0.52% copper from 71 metres, including 4 metres at 0.23% cobalt and 0.62% copper from 73 metres;

- 10 metres at 0.14% cobalt and 0.43% copper from 62 metres; and 

- 6 metres at 0.13% cobalt and 0.64% copper from 147 metres.

This initial phase of drilling is designed to test a 20 kilometre strike length of the cobalt-copper mineralised horizon.

Wide spaced drilling has been completed across circa 12 km of strike, with the mineralised horizon confirmed by assays in each drill fence to date.

Celsius’ drilling is currently nearing completion at the Western Zone, where higher grade cobalt mineralisation (up to 4,300 ppm, or 0.43%) has been identified at surface. Assays are pending.

The company has also commenced diamond drilling to collect samples for metallurgical testing.

Celsius is planning metallurgical testing program, preliminary mining studies and resource definition drilling to provide inputs for a scoping study, with completion before the end of 2017.

The continued strength in the cobalt price, currently at over US$56,000 per tonne, increases the appeal of a cobalt dominant project, such as Opuwo.

View full CLA profile View Profile

Celsius Resources Ltd Timeline

Related Articles

lithium rock
Preliminary feasibility study (PFS) completed, definitive feasibility study (DFS) scheduled for delivery by the end of 2018.
Picture of high-grade manganese sample
April 12 2018
Mineral Resources' proposed takeover of Atlas Iron indicates that the market for manganese assets is on the rise.
December 08 2017
King's Bay's drill core is already attracting significant interest, with assays due next month

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use