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- Celsius Resources’ (CLA) subsidiary has commenced drilling at the Opuwo cobalt project in northwestern Namibia
- The first of eight holes have been completed, with ore intercepted in the exact location modelled, reinforcing the consistent nature of the Dolomite Ore Formation
- Mobilisation has been delayed due to heavy rain on site, with drilling expected to be complete by the end of April
- About 4 tonnes of samples will be taken during the drill program, with a metallurgical test program planned
- Shares are trading 7.89 per cent lower today at 2.1 cents each
Celsius Resources’ (CLA) subsidiary has commenced drilling at the Opuwo cobalt project in northwestern Namibia.
The first of eight holes have been completed, with ore intercepted in the exact location modelled. The company said this reinforces the consistent nature of the Dolomite Ore Formation.
The mobilisation has been delayed due to heavy rain on-site, with drilling now occurring on two shifts.
Drilling of the remaining holes is expected to be complete by the end of April.
About 4 tonnes of samples will be taken during the drill program, with a metallurgical test program planned.
Managing Director Robert Gregory said the project has the potential to be a world-class source of future cobalt supply.
“The conclusion of the drill program to generate ore samples for the commencement
of the metallurgical testing and development work programs is an important step in establishing the feasibility of the Opuwo project,” he said.
“Of note, the identified processing options encompass both low cost and reduced environmental footprint that aligns with the increasing demand for cobalt and copper in electric vehicles.”
Shares were trading 7.89 per cent lower today at 2.1 cents each at 12:30 pm AEDT.
