Australian miner Celsius Resources Limited says it is confident that further drilling will lead to an upgrade of its current estimate of the underground mineral resource at the Opuwo Cobalt Project in Namibia.
The known mineral resource at Opuwo comprises 112.4 million tonnes at 0.11% cobalt, 0.41% copper and 0.43% zinc and a cut-off grade of 0.06% cobalt.
Company managing director Brendan Borg said the results of recent exploratory drilling operations indicated the possibility of further cobalt discoveries.
“The results of the external resource modelling and estimation confirm the consistent and expansive scale of the project.
“We are confident that further drilling, which is already underway, will enable future upgrades to the maiden JORC mineral resource,” Borg said.
Results drawn from the maiden resource sampling will form the basis of a scoping study for the Opuwo project, which holds an estimated 126,100 tonnes of pure cobalt.