Celsius Resources ( ASX:CLA )
Cobalt, lithium and graphite are taking the commodity world by storm. Highly leveraged to rechargeable battery demand, producers of these commodities are benefitting from rapid growth in lithium-ion battery powered electric vehicles, smartphones, and other new age technologies.
With over 1470 square kilometres in land tenure in the mining friendly African nation of Namibia, Celsius Resources (ASX:CLA) is looking to leverage off the lithium-ion battery boom and has already logged some early success.
CLA has recently completed a 17,000 metre resource drilling campaign at its 95%-owned Opuwo Cobalt Project, where it plans to define a large cobalt Resource.
The company is on track to report its maiden Mineral Resource in February and expects to report a large number of significant drilling results in its lead up. It will continue with further drilling, sampling and mapping programmes throughout January.
Drilling assays from the programme are due to flow in over January and February, from which the maiden JORC-compliant Resource will be reported.
With rising cobalt and copper prices supporting their endeavours, CLA intend to ‘rapidly advance’ the project this year. The project is large scale, having favourable mineralogy of cobalt and copper sulphide minerals, and being low in deleterious elements: notably arsenic, cadmium and uranium.
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CLA has positioned itself for success as a commercial cobalt producer. This is still some way down the track, but if CLA can prove up a significant cobalt Resource in coming months, the A$90 million-capped company may not stay a small cap for long.
Cobalt Exploration Underway and Assays Flowing in for CLA
Jan 18, 2018
Celsius Resources (ASX:CLA) plan to define a large cobalt Resource at its 95%-owned Opuwo Cobalt Project in Namibia as soon as this quarter.