Announcement Date: 2022-11-07
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Celsius Resources Ltd.
Project name: Sagay
Location: Philippines
Commodities: Gold,Copper
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Celsius Resources Limited (“Celsius” or “the Company”) is pleased to declare a maiden JORC compliant Mineral Resource for the Sagay (SGY) Copper-Gold Project (“Project”), held under its Philippine Subsidiary Company, Tambuli Mining Co., Inc (TMCI) and located at the Island of Negros in the Philippines. The latest results suggest that the SGY Project hosts a large-scale porphyry copper-gold mineralisation. The Global Mineral Resource estimate comprises 302 million tonnes of 0.41% copper, and 0.11g/t gold, at a lower cutoff grade of 0.2% copper. The maiden Mineral Resource Estimate (MRE) is located at Nabiga-a Hill, within the broader SGY Project area. At Nabiga-a, the MRE has been defined by a total of 32 diamond drill holes which are very broadly spaced and have shown copper mineralisation over an extensive area from the surface down to 1.2km in depth. Celsius Resources Executive Director Peter Hume said
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