Celsius Resources Limited (ASX: CLA) reports that it has encountered significant mineralisation at depth at its 95% owned Opuwo Cobalt Project in Namibia.
The current drilling program at Opuwo of approximately 15,000 metres is aiming to define the cobalt – copper – zinc resource from surface down to a vertical depth of approximately 200 metres. In order to test the potential upside to the depth of the resource, a single diamond drillhole (DOFD0077) has been drilled approximately 300 metres north of the resource drilling area.
This hole has intersected the mineralised dolomite ore formation (DOF) at a down hole depth of 488..37 metres, representing a vertical depth of approximately 380 metres below ground surface. The mineralisation intersected contains intervals that are semi-massive and coarse grained in nature, with sulphides visually identified as linnaeite (cobalt), chalcopyrite (copper), sphalerite (zinc), and pyrrhotite (iron). Assays for this hole are expected in approximately 4 weeks.
Celsius Managing Director, Brendan Borg said the intersection of mineralisation at this depth demonstrates the upside to the scale of the project, given that the initial Exploration Target Range, consisting of between 33 and 41 million tonnes, grading approximately 0.13% – 0.17% cobalt and 0.45% – 0.65% copper, was modelled to a depth of 150 – 250 metres.
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He said the increased intensity of sulphide mineralisation in DOFD0077 supports the geological team’s theory that a feeder zone, or zones , may exist for the extensive mineralisation at Opuwo, currently identified in drilling by Celsius over more than 15 km of strike length.
“This discovery of deeper and more intense mineralisation is an exciting development for the Project, as it demonstrates significant potential upside to the scale of the mineralised system,” Mr Borg said.
“This is the first occurrence of semi – massive sulphides at the Project and adds weight to our theory that a more significant feeder system for the mineralisation may exist.”
The Company’s geophysical contractor will now mobilise an electromagnetic (EM) tool to allow a survey to be conducted on this drillhole. The aim of the survey will be to search for strong conductors in the vicinity of the hole that may represent massive sulphide mineralisation. Pending positive results, this may be followed by a ground electromagnetic (EM) survey to identify areas for additional deeper drilling.