Celsius commences cobalt drilling campaign

Published at Mar 14, 2017, in Small Caps

Finfeed presents this information for the use of readers in their decision to engage with this product. Please be aware that this is a very high risk product. We stress that this article should only be used as one part of this decision making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.

Celsius Resources (ASX:CLA) advised on Tuesday morning that it had commenced drilling at the Opuwo Cobalt Project located in Namibia. The group expects results from early drilling to come to hand within four weeks.

The main aim of the drilling program is to provide a systematic first-pass test along a 20 kilometre strike length of the Dolomite Ore Formation (DOF) horizon with the program forming the major part of the company’s stage I earn in to the project.

This is an early stage play so investors considering this stock for their portfolio should seek professional financial advice.

Initial drilling will test strike and depth extensions to cobalt-copper-zinc mineralisation intersected in historical drill holes.

As a backdrop, the Opuwo project benefits from access to infrastructure with the regional capital only 30 kilometres to the south where services such as accommodation, fuel, supplies and an airport and hospital are available.

The site is serviced by bitumen roads which also connect to port facilities. Power can already be accessed within the projects boundary.

The following list the milestones that Celsius needs to meet in terms of the various earn in stages.

Shares in CLA have increased more than 50% in 2017, but there could be further upside to come as drilling results are returned and the company meets the aforementioned milestones.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!