Celsius Resources release further cobalt-copper assays
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.
The latest cobalt-copper mineralisation assay data released by Celsius Resources (ASX: CLA) on Monday confirmed that the strike length at its Opuwo project located in Namibia now spans 11 kilometres. Further results are pending as the company continues to drill across 30 kilometres of strike.
Management also noted that mineralisation continued to return low levels of deleterious elements such as arsenic, cadmium and uranium.
The highest grade cobalt intercept to date was 5 metres grading 0.2% cobalt. There were two other intercepts of 6 metres and 5 metres grading 0.13% and 0.12% cobalt, broadly consistent with previous assay results received in late April.
Results to date have been well received with CLA’s share price increasing approximately 20% since the first assay results were received on April 20.
It should be noted share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
Management highlighted the fact that mineralisation extends to surface and outcrops in many places and, based on the assay data to date, grades appear to increase with depth. Further drilling will be conducted to test for down dip extensions, thus confirming the true thickness of the mineralisation.
Given the comprehensive drilling campaign that is being currently undertaken and management’s intentions to explore the prospect of targets at lower depths, it wasn’t surprising today to see the company announce a pending capital raising.
CLA is in a trading halt until Wednesday and FinFeed will keep you posted regarding details of the capital raising.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Longhou Capital Markets Pty Ltd (AFSL No. 292464). 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.
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.