Celsius Resources secures two-year exploration permit renewal for Botilao Copper-Gold Prospect

Celsius Resources Limited (ASX, AIM: CLA) has announced a significant regulatory advancement in the Philippines, securing a two-year renewal for its exploration activities at the Botilao Porphyry Copper-Gold Prospect.

The approval was granted by the Philippine Mines and Geosciences Bureau (MGB) to Celsius’s Philippine affiliate, Makilala Mining Company, Inc. (MMCI). The renewal of Exploration Permit No. 011-2023-CAR allows the company to continue operations in the Cordillera Administrative Region for an additional 24 months.

This extension is crucial for ensuring the continuity of technical studies designed to define the extent and characteristics of mineralisation within the permit area. Under the renewed terms, MMCI will advance its geological understanding of the Botilao Prospect through a work program that includes continued surface mapping, geochemical sampling, and data integration. These activities aim to evaluate targets for potential follow-up geophysical surveys and drilling, subject to further approvals.

The Botilao prospect is strategically important due to its location near the Maalinao-Caigutan-Biyog Copper-Gold Project (MCB Project).

MMCI Technical Director Peter Hume highlighted the significance of the renewal for the company's broader strategy:

“The renewal of the Botilao exploration permit represents an important milestone, enabling the Company to build on the technical work completed to date. Botilao remains a highly prospective tenement with geological similarities to the nearby Maalinao-Caigutan-Biyog Copper-Gold Project (“MCB Project”) Deposit and has the potential to provide additional feed that could extend the operating life of the MCB Project process plant. The renewal allows exploration activities to be progressed in a systematic and responsible manner, consistent with the Company’s commitments to environmental stewardship and community engagement.”

The upcoming exploration activities will be complemented by an approved Environmental Work Program, which outlines specific measures for impact mitigation and rehabilitation. Concurrently, the company’s Community Development Program will continue to support socio-economic initiatives identified through consultation with host communities and local government units.