Highlights from the latest batch of assays received from the recently completed drilling program include:
- 17 metres at 0.14% cobalt and 0.42% copper;
- 10 metres at 0.12% cobalt and 0.59% copper and 4 metres at 0.13% cobalt and 0.55% copper (same hole); and
- 7.7 metres at 0.11% cobalt and 0.52% copper.
The results are highly encouraging as Celsius close in on reporting its maiden resource.
A diamond drill rig has remained on site at Opuwo, and has commenced drilling to the west of the resource definition drilling that was completed in late 2017.
Three diamond drill holes have so far been completed in this area, all intersecting Dolomite Ore Formation (DOF) mineralisation.
Furthermore, the company’s geophysical contractor has completed downhole electromagnetic surveys at the project, with data currently being modelled and interpreted.
The company is well funded with circa $4.3 million in cash as at 31 December 2017 following a $3.94 million placement of shares in October to institutional and professional investors at $0.055 each.