- Celsius Resources’ (CLA) Philippine subsidiary, Makilala Mining, receives high-grade copper-gold assay results from the company’s first drill hole at the MCB Project in the Philippines
- Drilling intersections include 87.85 metres at 1.24 per cent copper and 0.36g/t gold
- Celsius says the results confirm geological and grade continuity
- Drilling is continuing at the prospect, with further drill holes planned to test the open depth extent to the high-grade copper-gold positions
- Celsius Resources is down 7.14 per cent, trading at 3.9 cents at 12:20 pm AEST
Celsius Resources’ (CLA) Philippine subsidiary, Makilala Mining, has received high-grade copper-gold assay results from the company’s first drill hole at the MCB Project in the Philippines.
The results from one hole confirmed the high-grade mineralisation, which the company says increases its confidence in this portion of the mineral resource.
Significant intersections from drilling include 87.85 metres at 1.24 per cent copper and 0.36 g/t gold, which Celsius says confirms geological and grade continuity.
The team have now completed downhole surveys and fitting of vibrating wire piezometers to record subsurface pore water pressure, which it says is important for supporting the development of a hydrological model as part of the mine planning.
This will also be a key component of the MCB Project scoping study.
Mikilala Mining first began drilling activities at the project in February, with the planned drilling designed to test depth extensions to the high-grade section of the copper–gold mineralisation and examine further strike extensions to the deposit across a defined fault.
Drilling is continuing at the prospect, with further drill holes planned to test the open depth extent to the high-grade copper-gold positions.
Celsius Resources is down 7.14 per cent, trading at 3.9 cents at 12:20 pm AEST.