Media
Issuance of permit for Celsius’ Botilao Copper Gold Tenement underway
| Highlights • Application for an exploration permit for Botilao Copper-Gold Prospect has been lodged under Celsius’ Philippine subsidiary, Makilala Mining Company, Inc. • All application requirements for the Permit issuance have been met and awaiting clearance of signatories from the National Government. • Botilao is along the same northeast structure which is a major control of the porphyry Cu-Au mineralisation adjacent to the MCB Project. |
Celsius Resources is pleased to announce that a secondary tenement, the Botilao Porphyry Copper-Gold Prospect under its Philippine subsidiary, Makilala Mining Company, Inc. (MMCI),which is located beside the MCB project will be explored to complement the development of the area with a potential to extend the operational mine life.
The Mines and Geosciences Bureau has confirmed that all documentary requirements have been satisfied which will allow the permit issuance upon the clearance of signatories which is anticipated in the coming weeks.
Celsius Executive Chairman Atty. Julito R. Sarmiento, said:
“This is another opportunity for Celsius to explore and develop our portfolio of copper-gold assets in the Philippines. We appreciate the trust of the Marcos Jr.’s Administration in the Company’s commitment to build responsible and transformative mining projects that goes beyond regulatory compliances.
This tenement could add significant value and complement the Maalinao-Caigutan-Biyog (“MCB”) Copper-Gold Project, given its location and porphyry Cu-Au mineralisation within the area.”
To read the full announcement, please click here.