REG - Celsius Resources Ld - Exploration Permit for Botilao Prospect Issued

Celsius ResourcesAnnouncement

07/08/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230807:nRSG4852Ia&default-theme=true

RNS Number : 4852I  Celsius Resources Limited  07 August 2023

 

ASX/AIM RELEASE

 7 August 2023

 

Philippine Government issues exploration permit for Celsius' Botilao Copper-Gold Prospect
HIGHLIGHTS

· Philippine Mines and Geosciences Bureau has issued a two-year exploration
permit for Celsius' Botilao Copper-Gold Prospect.

· The Exploration Work Program will be implemented along with an
Environmental Work and Community Development Work Programs which will be
developed in consultation with the host community.

_______________________________________________________________________________

 

Celsius Resources Limited ("Celsius") (ASX, AIM: CLA) is pleased to announce
the issuance of an exploration permit for the Botilao Porphyry Copper-Gold
("Botilao") Prospect in the Cordillera Administrative Region under its
Philippine subsidiary, Makilala Mining Company, Inc. ("MMCI or "the Company").

 

The Exploration Work Program under the initial two-year permit aims to define
the extent and distribution of the observed mineralisation along Botilao
Creek, which will consist of regional to semi-detailed geochemical sampling
and mapping to generate future targets for possible geophysical surveys and
eventual diamond drilling activities.

 

This will be complemented with an Environmental Work Program which outlines
environmental protection and enhancement activities during the exploration
period, as well as a Community Development Program consisting of
socio-economic projects which will be identified in consultation with the host
community.

 

Celsius Managing Director Peter Hume, said:

"Given its location, it is possible that the mineralisation controls in the
Botilao Prospect are similar to those at the Maalinao-Caigutan-Biyog
Copper-Gold ("MCB") Project deposit 1 . Thus, they may have the same
mineralisation style and grades which will be confirmed once we progress the
exploration. This Prospect, once developed, will bring additional value to
Celsius' portfolio and complement the MCB Project."

 

Photo opportunity after the signing of the Botilao Prospect Exploration Permit
(from left to right: MMCI Project Monitoring & Evaluation Supervisor Anne
Zee Luz Laguerder; Mines and Geosciences Bureau (MGB) Tenements Chief, Danilo
Deleña; Celsius Chairman and MMCI President Atty. Julito Sarmiento; Celsius
Managing Director Peter Hume; and MGB Mining Permit Evaluation Section Head
Manny Binuya).

 

BOTILAO PORPHYRY COPPER-GOLD PROSPECT

 

Botilao is located in the Cordillera Administrative Region in the Philippines,
approximately 320km north of Manila (Figure 1). It is a prospect within the
MMCI portfolio with a tenement area of 947.67 hectares, southwest of the MCB
Project (Figure 2).

 

Historical exploration work conducted by Lepanto Consolidated Mining Inc. in
the '70s includes drilling diamond bore holes and geochemical sampling along
exploratory tunnels. A 1973 inspection and verification report by the Bureau
of Mines 2  indicated that Lepanto was able to delineate two (2) major
mineralisation zones striking northeast. Drilling and exploration tunnel works
were concentrated around Botilao Creek, south of Pasil River. The report
indicated tunnel samples with copper grades up to ~1%.

 

The result of historical exploration works and the current understanding of
the MCB Deposit will provide the initial working model for the Botilao
Prospect (Figure 3).

 

Along with geochemical sampling, mapping of different rock types or
lithologies in the area will be conducted to characterise and delineate
mineralised or altered zones. Detailed mapping will focus on identified
mineralised outcrops to ensure proper understanding of the classification and
controls of mineralisation.

 

 

 

Figure 2.  Location of the Botilao tenement with respect to the MCB Tenement.
The Pasil River Fault which is the mineralisation control for the MCB Deposit
extends towards the Botilao Prospect.

 

 

 

Figure 3. Blue and green copper minerals observed along the walls of the
Botilao outcrop.

 

Forward Looking Statements

 

Some of the statements appearing in this announcement may be in the nature of
forward-looking statements. You should be aware that such statements are only
predictions and are subject to inherent risks and uncertainties. Those risks
and uncertainties include factors and risks specific to the industries in
which the Company operates and proposes to operate as well as general economic
conditions, prevailing exchange rates and interest rates and conditions in the
financial markets, among other things. Actual events or results may differ
materially from the events or results expressed or implied in any
forward-looking statement.

No forward-looking statement is a guarantee or representation as to future
performance or any other future matters, which will be influenced by a number
of factors and subject to various uncertainties and contingencies, many of
which will be outside the Company's control.

The Company does not undertake any obligation to update publicly or release
any revisions to these forward-looking statements to reflect events or
circumstances after today's date or to reflect the occurrence of unanticipated
events. No representation or warranty, express or implied, is made as to the
fairness, accuracy, completeness or correctness of the information, opinions
or conclusions contained in this announcement. To the maximum extent permitted
by law, none of the Company's Directors, employees, advisors, or agents, nor
any other person, accepts any liability for any loss arising from the use of
the information contained in this announcement. You are cautioned not to place
undue reliance on any forward-looking statement. The forward-looking
statements in this announcement reflect views held only as at the date of this
announcement.

 

This announcement has been authorised by the Board of Directors of Celsius
Resources Limited.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.

 

 

Celsius Resources Contact Information

Level 5, 191 St. Georges Terrace

Perth WA 6000

 

PO Box 7059

Cloisters Square PO

Perth WA 6850

 

P: +61 2 8072 1400

E: info@celsiusresources.com.au (mailto:info@celsiusresources.com.au)

W: www.celsiusresources.com (http://www.celsiusresources.com)

 

 Celsius Resources Limited
 Peter Hume                          P: +61 2 8072 1400

 Managing Director                   E: info@celsiusresources.com.au (mailto:info@celsiusresources.com.au)

                                     W: www.celsiusresources.com (http://www.celsiusresources.com)

 Multiplier Media

 (Australia Media Contact)
 Jon Cuthbert                        M: +61 402 075 707

                                     E: jon.cuthbert@multiplier.com.au (mailto:jon.cuthbert@multiplier.com.au)

 Tavistock Communications            +44 (0) 207 628 3396

 (UK Media and Investor Relations)
 Charles Vivian                      M: 0044 7977297903

                                     E: charles.vivian@tavistock.co.uk

 Tara Vivian-Neal                    M: 0044 7394408654

                                     E: tara.vivian-neal@tavistock.co.uk
 Beaumont Cornish Limited

 (Nominated Adviser)

 Roland Cornish/Felicity Geidt/Andrew Price                                  +44 (0) 207 628 3396

 SPAngel

 (Broker)

 John Meyer/Ewan Leggat/Harry Davies-Ball                                    +44 (0) 203 470 0470

 

 1  Refer to ASX Announcement dated 12 December 2022 for the updated JORC
compliant Mineral Resource Estimate ("MRE") for the MCB Project. The Company
confirms that it is not aware of any new information or data that materially
affects the information included in the announcement dated 12 December 2022
and that all material assumptions and technical parameters  underpinning the
MRE continue to apply and have not materially changed.

 2  Almogela, D. H. (1973) Report on the Inspection and Verification of the
Exploration Activities of Lepanto Consolidated Mining Company, Bureau of
Mines, 16-18 March 1973

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGUGDIXUGDGXR