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Drilling contractor appointed at Opuwo

Drilling contractor appointed at Opuwo

07 February 2022 Announcement
  • Celsius Resources has engaged Drilling Contractor for Opuwo Project.
  • Eight x 150m PQ diamond holes to be drilled for new metallurgical test work.
  • Mobilisation payment ~AUD106k will be in cash and the work program paid in Celsius shares. ~AUD312k
  • New metallurgical test program to also be undertaken.

Celsius Resources is pleased to announce its Namibian subsidiary Opuwo Cobalt Mining Pty Ltd, has engaged Stewardship Drilling Pty Ltd to drill eight (8) PQ diamond drill holes to obtain fresh representative core for a new metallurgical test work program. 

Under the agreement, Celsius will pay Stewardship cash for the mobilisation and drilling additives estimated at AUD106k, after which Stewardship will receive payment in Celsius shares at a setat set price of 3 cents for the drilling, estimated to total AUD312k.  

The 8 holes will be drilled at 4 locations along strike and angled 10 degrees from the dip of the orebody to obtain as much mineralised core possible.  The holes will be twined to obtain core at different depths. Approximately 500kg of Dolomite Ore Formation (“DOF”) mineralsed ore will be recovered from each hole.

To read more, click here.

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