Celsius Resources Ltd (ASX:CLA, AIM:CLA) has welcomed an updated JORC mineral resource estimate (MRE) for the Sagay Copper Project on the Island of Negros in the Philippines.
This update relates to shallow supergene copper mineralisation, which now includes measured and indicated mineral resources, with the previous MRE only in the inferred category.
The combined measured, indicated and inferred mineral resource now stands at 312 million tonnes grading 0.39% copper and 0.11 g/t gold with the global resource remaining largely unchanged with around 1.2 million tonnes of contained copper and 1 million ounces of contained gold.
A lower cut-off grade of 0.2% copper was applied, broadly aligning with the expected economic limits of the likely mining and processing options.
The update to the MRE at Sagay — largely based on the results from the 2023 drilling program — is at a shallow copper position around 500 metres west of the main body of mineralisation discovered to date.
Drilling at Sagay has broadly defined a large-scale copper mineralisation which is interpreted to be a typical porphyry copper style of mineralisation, common throughout the Philippine archipelago.
The mineralisation exists from near surface down to depths of more than 1.2 kilometres with strike lengths of up to 1 kilometre and true widths extending into the hundreds of metres. The copper mineralisation remains open in multiple directions, with further shallow targets untested.
Opportunity for low-cost start-up
Importantly, this shallow copper zone presents the opportunity to investigate a low-cost start-up development via a feasibility study which Celsius has submitted to the Philippine Government.
Celsius Resources managing director Peter Hume said: “The greater definition of the shallow supergene copper at Sagay has increased both the resource category and our own confidence in the ability to look at a new shallow sustainable friendly development option.
“The previous mineral resource only placed this area in the inferred category, and with this new update to the mineral resource, this area is now largely in the measured and indicated category, which allowed us to complete and submit a feasibility study to the Philippine Government
Sustainable approach to development
“The company has taken a sustainable approach to the proposed development of the Sagay mineral resource, similar to its flagship MCB (Maalinao-Caigutan-Biyog) project. Eliminating the use of a conventional tailings dam and using the tailings for environmental rehabilitation, along with processing the ore through gravity separation, therefore eliminates the use of chemicals,” said Hume.
“We are in the process of finalising the project’s environmental impact assessment which will clearly demonstrate the company’s commitment to environmental protection and preservation through advanced mining technologies, he added”
Chairman Julito R Sarmiento said: “The development of the Sagay Project can assist with meeting the global demand for green metals in an effort to transition to clean energy sources and achieve the global goal of net zero emissions by 2050 to stave off climate change calamity.
"Celsius constantly takes serious efforts to develop genuinely responsible projects by tightening up our environmental management systems and stepping up our social and environmental performance.”