Celsius Resources (ASX:CLA) receives “outstanding” results from MCB

• Celsius Resources (CLA) receives “outstanding” high grade assay results from its ongoing drilling program at its flagship MCB copper-gold project in the Philippines
• The new results are in line with previous results, with the stand out hole MCB-038 continuing to confirm and expand two additional higher grade zones
• Celsius says the drill hole has confirms there is a number of higher-grade positions as predicted and has improved its confidence level of the existing mineral resource
• Results from hole MCB-038 showed 611.4 metres at 1.39 per cent copper and 0.75 grams per tonne gold (g/t) from 32.5 metres
• CLA shares are up 42.9 per cent to trade at two cents at 10:50 am AEST

Celsius Resources (CLA) has received “outstanding” high grade assay results from its ongoing drilling program at its flagship MCB copper-gold project in the Philippines.

The new results are in line with previous results, with the stand out hole MCB-038 continuing to confirm and expand two additional higher grade zones.

Results from hole MCB-038 showed 611.4 metres at 1.39 per cent copper and 0.75 grams per tonne gold (g/t) from 32.5 metres.

Celsius said the drill hole has confirmed there is a number of higher-grade positions as predicted and has improved its confidence level of the existing mineral resource.

Results from the latest assays include 150.85 metres at 1.90 per cent copper and 1.57 g/t gold from 207.15 metres and 234.45 metres at 1.90 per cent copper and 0.87g/t gold from 391.55 metres.

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

“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 six 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.”

CLA shares were up 42.9 per cent to trade at two cents at 10:50 am AEST.