Investment Highlights
• Celsius to acquire 100% of Opuwo Cobalt Pty Ltd, which holds an option to acquire the Opuwo Cobalt Project in Namibia.
• Opuwo Cobalt Project has potential to host large-scale sediment hosted copper-cobalt mineralisation, with approximately 30km strike length of prospective mineralised horizon.
• Over 20km of the horizon is outcropping and has been mapped and sampled with the horizon not closed offto the East.
• Seven historical drillholes completed in the project area.
• Of these, only two drillholes, drilled in one location, have been assayed for cobalt with following results:
o 8m at 1137ppm Co + 0.54%Cu + 0.53%Zn from 60.4m o 4.65m at 1153ppm Co + 0.55%Cu + 0.59%Zn from 106.65m
• Petrographic studies indicate mineralisation is sulphide hosted, which should result in a relatively straight forward extraction process.
• Project is ready-to-drill, with project vendors providing access to in country drilling services.
• Opuwo Cobalt Pty Ltd has entered into a farm-in agreement to earn staged interests in the Opuwo Cobalt Project.
• Acquisition of Opuwo Cobalt Pty Ltd to be satisfied by issuing 27,777,773 shares to the shareholders of Opuwo Cobalt Pty Ltd (following shareholder approval).
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- Ann: SURFACE SAMPLES CONFIRM POTENTIAL OF OPUWO COBALT PROJECT
Ann: SURFACE SAMPLES CONFIRM POTENTIAL OF OPUWO COBALT PROJECT, page-11
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