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CLA hits 611.4m @ 1.39% copper and 0.75g/t gold at MCB

CLA hits 611.4m @ 1.39% copper and 0.75g/t gold at MCB

04 July 2022 Announcement

We are pleased to announce we have received outstanding large scale and high-grade assay results from the ongoing drilling program at our flagship MCB copper-gold project, held under our Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”). 


  • Intersection of 611.4m @ 1.39% copper and 0.75g/t gold from 32.5m (1.67% CuEq*).
  • Multiple internal higher-grade results confirmed:
    • 150.85m @ 1.90% copper and 1.57g/t gold from 207.15m (2.55% CuEq*),
    •  234.45m @ 1.90% copper and 0.87g/t gold from 391.55m (2.22%CuEq*) and,
    • 77.55m @ 2.47% copper and 2.12 g/t gold from 232.10m (3.34%CuEq*)

The results are in line with other recent drilling results from holes MCB-036 and MCB-037 (see CLA announcements dated 13 December 2021 and 23 May 2022, respectively) confirming the presence of an extensive shallow higher-grade position.

MCB-038 continued on further to confirm and expand the position of two additional higher-grade zones which have a horizontal orientation within a larger and broader lower grade envelop. 

The results from MCB-038 were designed to improve the confidence level of the existing Mineral Resource in addition to focusing on defining further higher-grade positions for the purpose of enhancing the feasibility study.

Celsius Executive Chairman, Mr. Martin Buckingham said: “The results from MCB-038 are exceptional, and we believe reflect the quality of the MCB deposit.

We still have a few more diamond drill holes to come which are planned to further define the shallow and easy to access higher-grade copper at MCB. The drilling results over the past 6 months have identified important additions to copper mineralisation and we are looking forward to understanding the impact of these results as we move into our JORC Update resource estimate and feasibility studies in the second half of this year.

These large intersections have substantial gold credits to result in very high CuEq values after allowing for the estimated recoveries of both the copper and gold.”

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