Cobalt explorer Celsius Resources (ASX: CLA) has struck cobalt grading up to 0.15% from the recently completed drilling campaign at its 95%-owned Opuwo project in Namibia.
The latest assay batch returned numerous intersections with cobalt and copper mineralisation.
Cobalt grades ranged from 0.09% to 0.15%, while copper graded between 0.37% and 1.01%.
The widest intersection was 10m at 0.13% cobalt and 0.45% copper, while another 7.49m intersection returned 0.14% cobalt and 0.79% copper, with a 5m interval comprising 0.15% cobalt and 1.01% copper.
“The Opuwo cobalt project is approaching an exciting phase or its evolution as we await receipt of the final assay results from our 2017 drilling, and prepare to report our maiden JORC mineral resource,” Celsius managing director Brendan Borg said.
According to the company, the remaining assays are due next week, with the JORC-compliant estimate scheduled to be released in March.
This latest assay batch follows a reported 17m intersection with 0.14% cobalt and 0.42% copper, and a 10m intersection grading 0.12% cobalt and 0.59% copper reported at the beginning of the month.
The now complete resource drilling campaign comprised 99 holes for 17,266m across pre-defined target areas.
Metallurgical testwork has recovered 88% of the cobalt in the 0.14g/t head grade sample. Celsius reported the mineralisation was amenable to conventional flotation processing, with further test work ongoing and results anticipated by the end of the current quarter.
Meanwhile, exploration at Opuwo is underway with a diamond drill rig testing the western region of the project, as well as gap drilling and exploring other visibly identified targets.
Celsius claims Opuwo has the potential to develop into a large-scale cobalt operation, with favourable mineralogy and minimal contaminants.
Opuwo encompasses about 1,470 square kilometres about 30km from its namesake town, which offers essential accommodation, supplies, fuel, airport and hospital infrastructure.
A 66kV transmission line crosses the project’s eastern boundary affording Celsius accessible power, with the country’s primary power station also in proximity to the tenements.
Sealed roads connect Opuwo across 750km to Namibia’s Walvis Bay port for export potential.
Additionally, Celsius purports Namibia to be a politically stable and mining friendly African jurisdiction.
Shares in Celsius were steady at A$0.11 by early afternoon trade.