Celsius Resources hits 65m @ 1.73%Cu & 0.37g/t Au from MCB-041
We are pleased to announce we have received further shallow and high-grade copper assay results from the ongoing drilling program at our flagship MCB copper-gold project, owned by its Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”).
The results continue to extend the envelope of the near surface mineralisation which complement previous drilling results from holes completed at MCB from 2021 to 2022 and validate the historical drilling information completed by Freeport-McMoRan.
The results from MCB-041 are particularly significant as they have allowed the near surface higher-grade copper mineralisation envelope to extend further to the east. This location in general was previously only supported by one drill hole (MCB-010A – see Figure 1). MCB-041 has significantly expanded the footprint of the near surface, higher-grade copper mineralisation at MCB.
Country Operations Director Mr. Peter Hume said:
“Our drilling strategy was modified in 2022 to shift the focus from deep targets to the recently identified near surface higher-grade targets and it is starting to significantly pay off with better-than-expected results.”
“We had previously interpreted that the high-grade targets were mostly at depth, but an analysis of the recent results, particularly from MCB-036* which intersected 59m @ 1.29% copper and 0.27g/t gold, MCB-037** which intersected 28.95m @ 1.12% copper and 0.06g/t gold, and now MCB-041, have confirmed the presence of a more extensive shallow copper mineralisation than previously understood.”
“We expect these combined results will make a solid positive enhancement to the feasibility study which will commence in early 2023.”