Ann: Mineralised Zone Extended to 12 km at Opuwo Cobalt Project, page-2

MINERALISED ZONE EXTENDED TO 12 KM AT OPUWO COBALT PROJECT

HIGHLIGHTS

• Cobalt-copper mineralisation now confirmed by assays over approximately 12 km of strike.
• Latest results include:
• 6 m @ 0.17% cobalt and 0.52% copper, including 4 m @ 0.23% cobalt and 0.62% copper.
• 10 m @ 0.14% cobalt and 0.43% copper.
• 6 m @ 0.13% cobalt and 0.64% copper.
• 4 m @ 0.14% cobalt and 0.56% copper.
• 3 m @ 0.11% cobalt and 0.39% copper.

• Mineralisation continues to return low levels of deleterious elements such as arsenic, cadmium and uranium. • Drilling nearing completion at the Western Zone, where higher grade cobalt mineralisation (up to 4,300 ppm, or 0.43%) has been identified at surface. Assays are pending.

• Diamond drilling has commenced, to collect samples for metallurgical testing.

• Metallurgical testing program, preliminary mining studies and resource definition drilling planned to provide input into Project Scoping Study, with completion before the end of 2017.

Celsius Managing Director, Brendan Borg commented:
“The assay results from Opuwo continue to expand the cobalt-copper mineralised zone. Importantly, zones of higher grade mineralisation, at over 0.2% cobalt, are being discovered at the Project by Celsius. In our view the continued strength in the cobalt price, currently at over USD56,000 per tonne, increases the appeal of a cobalt dominant Project, such as Opuwo.”

Looks alright, would expect a bounce today.