- Celsius Resources’ (CLA) subsidiary Tambuli Mining has confirmed large-scale copper-gold at the Sagay project within the Province of Negros Occidental in the Philippines
- The activities complement 25,056 metres of the previous drilling across 31 diamond drill holes at the site, costing approximately $10.8 million
- Results from one drill hole have confirmed large-scale copper-gold with true widths of up to 300 metres based on a 0.2 per cent copper cut-off
- The company will now focus drilling to further define the shallower extents of the higher-grade core within the lower grade envelope
- Shares in Celsius were trading up 7.41 per cent at 2.9 cents
Celsius Resources’ (CLA) subsidiary Tambuli Mining has confirmed large-scale copper-gold at the Sagay project within the Province of Negros Occidental in the Philippines.
Assays have been received from the first out of seven planned diamond drill holes for the exploration campaign at one of two prominent hills that stand out on the project area.
The activities complement 25,056 metres of the previous drilling across 31 diamond drill holes at the site costing approximately $10.8 million.
Results from one drill hole have confirmed large-scale copper-gold with true widths of up to 300 metres based on a 0.2 per cent copper cut-off.
The total intersection is 319.5 metres at 0.53 per cent copper and 0.13 grams of gold per tonne (g/t gold) from an 837.8-metre down hole using a 0.2 per cent copper cut-off.
High-grade core was also confirmed to extend vertically and controlled by large-scale breccias which can also be identified on the surface.
Managing Director Robert Gregory said on the surface there is a silica cap and alteration typical of a big porphyry system.
“Defining the trend of the mineralisation now gives us the opportunity to test how far the system extends to the surface beneath the silica cap,” he said.
Higher grade intervals using a 0.5 per cent copper cut-off intersected were 192.2 metres at 0.6 per cent copper and 0.13g/t gold from an 886-metre down hole, and 26 metres at 0.85 per cent copper and 0.24g/t gold from an 1128-metre down hole.
Vertical extensions to the defined large-scale copper-gold mineralisation to be tested up-dip at shallow levels underway.
The company will now focus drilling to further define the shallower extents of the higher-grade core within the lower grade envelope.
Shares in Celsius were trading up 7.41 per cent at 2.9 cents at 11:25 am AEDT.