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Drilling contractor appointed at Opuwo

  • Celsius Resources has engaged drilling contractor for Opuwo Project.
  • Eight 150m PQ diamond holes to be drilled for new metallurgical test work.
  • Mobilisation payment will be in cash and the work program paid in Celsius shares.
  • New metallurgical test program to also be undertaken.

Celsius Resources is pleased to announce its Namibian subsidiary Opuwo Cobalt Mining Pty Ltd, has engaged Stewardship Drilling Pty Ltd to drill eight PQ diamond drill holes to obtain fresh representative core for a new metallurgical test work program.

Under the agreement, Celsius will pay Stewardship cash for the mobilisation and drilling additives estimated at $106,000, after which Stewardship will receive payment in Celsius shares at a setat set price of 3 cents for the drilling, estimated to total $312,000.

The eight holes will be drilled at four locations along strike and angled 10 degrees from the dip of the orebody to obtain as much mineralised core possible.

The holes will be twined to obtain core at different depths. Approximately 500kg of Dolomite Ore Formation (DOF) mineralised ore will be recovered from each hole.

Previous drilling delineated a mineral resource at Opuwo comprising 224.2 million tonnes at a grade of 0.12% cobalt, 0.43% copper, and 0.54% zinc.

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