Celsius Resources (ASX: CLA)

 
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Celsius Resources (ASX: CLA) continues to progress exploration at its Opuwo Cobalt Project in Namibia as it works towards locking in a JORC Mineral Resource.

The potential of the project to host large scale, sediment hosted copper-cobalt mineralisation with approximately 30km strike length of prospective mineralized horizon has been established.

CLA has now taken a 95% interest in the highly prospective project, up from its earlier 30% holding. And in what is seen as an endorsement of the project, CLA’s joint venture partner, Gecko Namibia, has established itself as CLA’s largest shareholder and its Managing Director, the highly experienced Pine van Wyk, has joined the CLA board.

Recent drilling at the project has returned some impressive results, including a new mineralised zone. The results are consistent with previous batches of results, showing potential for higher grade zones within the extensive mineralised system.

The interceptions included seven metres at 1,321 ppm cobalt, 1.11% copper and 1.10% zinc and two metres at 3,075 ppm cobalt, 0.41% copper and 1.13% zinc.

The information on this page should not be the only trigger for your investment decision. Click on the links below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.

Now could be an ideal time to take a closer look at CLA, especially as it has just expanded its landholding and potential to identify further cobalt and copper mineralisation.

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