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Celsius Receives Further Shallow High-Grade Copper-Gold Results

Celsius Receives Further Shallow High-Grade Copper-Gold Results

28 February 2023 Announcement


  • Assay results from three additional drill holes have all confirmed further extensions to the shallow, high-grade copper mineralisation at MCB.
  • Assay result highlights include:
    • 51.3m @ 0.93% copper and 0.06g/t gold from 7.7m in drill hole MCB-042
    • 101.5m @ 0.90% copper and 0.18g/t gold from 9m in drill hole MCB-043
    • 131.1m @ 0.93% copper and 0.23g/t gold from 11m in drill hole MCB-044
  • The favourable results from the drilling campaign enhances confidence in the updated 2022 Mineral Resource estimate for MCB.

Celsius Resources is pleased to announce it has received further shallow and high-grade copper assay results from the company’s drilling program at its flagship MCB Copper-Gold Project, held under its Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”). 

The results continue to identify new positions of shallow mineralisation in line with previous drilling results from holes completed at MCB over the last two years, and historical drilling information completed earlier by Freeport McMoRan.

Celsius Executive Director and MMCI Country Operations Director, Peter Hume said:

“We continue to see higher-grade sections defined over a broad area now at shallow levels. The earlier success we had in 2022 defining new shallow higher grade copper mineralisation is continuing into 2023.

We still have further tests to carry out on the possible extensions to these higher-grade copper zones which we believe will continue to improve the proposed production schedule, specifically during the early years, as part of our Feasibility Studies.

MCB is a unique copper-gold mine opportunity in the Philippines, with a Memorandum of Agreement forged with the Balatoc Community and is now in the process of securing a mining agreement with the Philippine Government, paving the way to successfully developing the MCB Project and mutually benefitting our shareholders and local stakeholders alike.”  

To read the full announcement, please click here.

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