REG - Celsius Resources Ld - Issue of permit for Botilao Copper-Gold underway

Celsius ResourcesAnnouncement

20/06/2023 07:00

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RNS Number : 2149D  Celsius Resources Limited  20 June 2023

 

ASX/AIM RELEASE

20 June 2023

 

Issuance of permit for Celsius' Botilao Copper-Gold Tenement underway
HIGHLIGHTS

· Application for an exploration permit for Botilao Copper-Gold Prospect has
been lodged under Celsius' Philippine subsidiary, Makilala Mining Company,
Inc.

· All application requirements for the Permit issuance have been met and
awaiting clearance of signatories from the National Government.

· Botilao is along the same northeast structure which is a major control of
the porphyry Cu-Au mineralisation adjacent to the MCB Project.

_______________________________________________________________________________

 

Celsius Resources Limited ("Celsius") is pleased to announce that a secondary
tenement, the Botilao Porphyry Copper-Gold Prospect under its Philippine
subsidiary, Makilala Mining Company, Inc. ("MMCI or "the Company"), which is
located beside the MCB project will be explored to complement the development
of the area with a potential to extend the operational mine life.

 

The Mines and Geosciences Bureau has confirmed that all documentary
requirements have been satisfied, which will allow the permit issuance upon
the clearance of signatories which is anticipated in the coming weeks.

 

Celsius Executive Chairman Atty. Julito R. Sarmiento, said:

 

"This is another opportunity for Celsius to explore and develop our portfolio
of copper-gold assets in the Philippines. We appreciate the trust of the
Marcos Jr.'s Administration in the Company's commitment to build responsible
and transformative mining projects that goes beyond regulatory compliances.
This tenement could add significant value and complement the
Maalinao-Caigutan-Biyog ("MCB") Copper-Gold Project, given its location and
porphyry Cu-Au mineralisation within the area."

 

 

 

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 Makilala portfolio with a tenement area of 947.67 hectares,
southwest of the MCB Project.

 

Drilling was previously conducted by Lepanto Exploration Asia in the '70s
which determined the presence of copper-gold mineralisation in the area.

 

Botilao is along the same northeast structure which is a major control of the
porphyry Cu-Au mineralisation in the MCB Project that will provide the initial
working model for the Botilao Prospect (Figure 3).

 

The proposed initial two-year exploration work program aims to define the
extent and distribution of the observed mineralisation along Botilao Creek.
Activities will consist of regional to semi-detailed geochemical sampling and
mapping to generate future targets for possible geophysical surveys and
eventual diamond drilling activities.

 

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

 

 Botilao Prospect

 Tenement Area

 

 

Figure 3.  The 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.

 

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

 

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.

 

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

                                         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 20 3470 0470

 

 

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