Celsius Resources (ASX:CLA) has acquired the option to earn an interest in the highly prospective Opuwo Cobalt Project in Namibia, in Southern Africa.
The Opuwo Cobalt Project is an advanced exploration project, with intensive surface exploration already undertaken by previous explorers. The Project has the potential for large scale cobalt-copper mineralisation and has excellent infrastructure.
The Opuwo Cobalt Project is located 800 kilometres from the capital Windhoek and 750 kilometres from the port at Walvis Bay — each connected to the project by bitumen roads.
Celsius Resources is set to commence drilling in early March at the Opuwo Cobalt Project, which has the potential to host large scale, sediment hosted copper-cobalt mineralisation with approximately 30km strike length of prospective mineralized horizon.
Previous exploration at the Opuwo Cobalt Project uncovered encouraging results and identified a number of targets, which CLA is using to fast track its own development.
Despite intensive surface exploration by previous explorers, only seven historical drill holes have been completed in the project area. Two of these, in the same location, have been assayed for cobalt with the following significant results:
• 8m at 1137ppm Co + 0.54% Cu + 0.53% Zn from 60.4m
• 4.65m at 1153ppm Co + 0.55% Cu + 0.59% Zn from 106.65m
The upcoming drilling will seek to confirm historic results as well as aim to identify higher grade portions of the DOF, especially in light of recent high grade surface samples released by the company.
Five of the 11 samples returned assays greater than 1000ppm Co., up to a maximum of 3655ppm Co. From 55 historical surface samples of the Dolomite Ore Formation (DOF) horizon and its adjacent lithologies, 12 samples returned assays greater than 1000ppm Co, with 4 returning assays above 2000ppm Co.
The verification samples also support historical trenching results, including:
• 3m at 2714ppm Co + 0.30% Cu + 1.09% Zn (K-T4)
• 2m at 2490ppm Co + 0.50% Cu + 1.30% Zn (K-T5)
Due to the advanced nature of the Opuwo Cobalt Project, the immediate focus of exploration will be drilling.
In collaboration with its partners Opuwo Cobalt Pty Ltd and Gecko Namibia, drilling is set to commence at the Opuwo Cobalt Project in early March.
With the prevailing cobalt price, Celsius Resources has a highly prospective Project in a location that could meet future demand.