Market hot for Celsius after it smashes cobalt target

CELSIUS Resources has smashed its Opuwo cobalt project resource target, outlining a 112 million tonne estimate in Namibia grading 0.11% cobalt, 0.41% copper and 0.43% zinc.

Market hot for Celsius after it smashes cobalt target Market hot for Celsius after it smashes cobalt target Market hot for Celsius after it smashes cobalt target Market hot for Celsius after it smashes cobalt target Market hot for Celsius after it smashes cobalt target

Celsius has shown its Opuwo project has big cobalt potential.

Last year the company said it was targeting 33-41Mt at 0.13-0.17% cobalt and 0.45-0.65% copper from an 11km zone.

The current estimate includes 72Mt of indicated resources and covers a zone extending about 10km.

The potential for further resource expansions are considered "excellent" with mineralisation (and grade continuity), already "confirmed over a total of more than 15 km of strike (and) over 100 km of total prospective strike identified".   

Drilling is continuing while scoping work is expected to be completed late this quarter.

The project has given positive metallurgical signals to date.

Celsius started 2018 with A$4.3 million cash, with $3.9 million raised last October when new shares were issued at 5.5c.

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