Celsius Resources (ASX: CLA)

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As demand for cobalt surges on the back of the rise of new and innovative technologies such as electric vehicles, one ASX company has wasted no time in working towards its goal of defining a mineral resource at its Opuwo Cobalt Project in Namibia.

Only two months after Celsius Resources’ (ASX:CLA) agreed to acquire 100% of Opuwo Cobalt Pty Ltd — the company that holds an option to acquire the Opuwo Cobalt Project ­– CLA released promising results from its maiden drill program.

Results have exceeded expectations.

In fact, results from the first four holes of 20 recently drilled confirm that mineralisation has been intersected in wide spaced drilling over 11 kilometres of strike. There is likely to be more positive results to come as CLA is continuing to test 30km of prospective strike.  

20 holes have now been completed for a total of 1,627 metres and there are still a lot of assay results due over the coming weeks.

Further positive results should lead to a constant stream of news flow over the coming weeks and months.

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With highly regarded and experienced geologist Brendan Borg appointed as Managing Director to lead the way forward, CLA will be busy in the course of the next few months as it looks to release a complete set of results from this first drilling program, commence a diamond drilling program in early May and begin planned metallurgical studies.

All of this work is expected to contribute to a scoping study for the project, which is planned to be completed by the end of the year.

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Forward looking Celsius Resources’ (ASX:CLA) decision to focus on the lucrative business of cobalt just as demand surges, could be a potential masterstroke for the company. Especially as the rise of new and innovative technologies such as electric vehicles really begins to gain traction.

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