Celsius Resources

Celsius Resources Limited (ASX/AIM:CLA) is a multi-asset copper and gold resources company with a robust portfolio of geographically diverse projects in the Philippines.

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Celsius Resources (ASX,AIM:CLA) today announced an upgrade to the Mineral Resource Estimate (MRE) for its flagship Maalinao-Caigutan-Biyog Copper-Gold Project (MCB) in the Philippines. 

The updated global mineral resource now totals 343 million tonnes (Mt) at 0.46% copper (Cu) and 0.12 g/t gold (Au), reported at a 0.2% Cu cut-off grade. 

This revised estimate confirms the project contains 1.6 million tonnes of contained copper and 1.4 million ounces of contained gold. 

The recent drilling program, which was primarily conducted to obtain metallurgical samples and support geotechnical studies, successfully strengthened the resource definition.

This drilling has allowed for an increase in the confidence level to the Measured category in addition to a refinement of the boundaries to the Mineral Resource. 

Overall, the 2025 MRE has an additional 5Mt containing 14 thousand tonnes (kt) total copper compared with the 2022 MRE. 

Makilala Technical Director, Peter Hume, commented that while the focus was established to support the updating of the Feasibility Study and Front-End Engineering Design (FEED) program, the company was "pleasantly surprised with further high-grade results". 

These results, along with recently announced recoveries, will further underpin the MCB Project’s economic viability and will form the basis of the JORC mining reserve. 

Notably, the MRE defines a high-grade core (at a 0.5% Cu cut-off) of 99Mt @ 0.79% Cu and 0.24 g/t Au in the Measured and Indicated categories. 

The revised MRE is now being utilised for the delivery of the JORC mining reserve along with further increased confidence in the mine plan. 

The updated Feasibility Study and the FEED for the MCB Project are scheduled for release in December 2025. 

The MCB project is the flagship within the Celsius portfolio and is located in the Cordillera Administrative Region in the Philippines, approximately 320km north of Manila.

Celsius Resources reveals resource upgrade at MCB Copper-Gold Project