TIDMCLA
RNS Number : 8701Y
Celsius Resources Limited
08 January 2024
ASX/AIM RELEASE
8 JANUARY 2024
Celsius' Sagay Project applies for DMPF
HIGHLIGHTS
-- An application for a Declaration of Mining Project
Feasibility has been submitted to the Philippine Mines and
Geosciences Bureau confirming the technical and financial viability
for the Sagay Copper-Gold Project;
Celsius Resources Limited (" CLA " or " Celsius ") (ASX, AIM:
CLA) is pleased to announce that its Philippine subsidiary, Tambuli
Mining Company, Inc. (" TMCI " or the " Company "), has applied for
a Declaration of Mining Project Feasibility ("DMPF") for its Sagay
Copper-Gold Project (" Sagay " or the " Project ") in the island of
Negros.
The said application proclaims the presence of minerals in the
area applied for, which are recoverable by socially acceptable,
environmentally safe and economically sound methods as further
manifested in the following key documents comprising the
application:
-- Mining Project Feasibility Study Report
-- Final Exploration Report
-- Environmental Impact Statement Report
-- Environmental Protection and Enhancement Program
-- Final Mine Rehabilitation/Decommissioning Plan
-- Social Development and Management Program
-- Care and Maintenance Program
These plans and programs were developed following an extensive
stakeholder consultation process to ensure the integration of
social and environmental safeguards and local context. Endorsements
from host local government units were also secured in the form of
resolutions interposing no objection to the project.
Celsius Executive Chairman, Atty. Julito "Sarge" Sarmiento,
said:
"This is another achievement for Celsius' portfolio of assets in
the Philippines. As with the Maalinao-Caigutan-Biyog Copper-Gold
("MCB") Project, we aim to develop the Sagay Project into a
productive mine that would not only bring value to our stakeholders
and shareholders, but also showcase our commitment to sustainable
and responsible mining practices.
We are at such a critical and pivotal point in human history
where the ongoing climate change emergency demands an accelerated
transition away from fossil fuels to renewable energy, and a green
economy would necessitate the extraction of more so-called green
metals like copper. The Company believes that mineral extraction
must be done through innovative solutions which optimise benefits
and avoid adverse social and environmental impacts. We will work
closely with the national and local government units as development
partners to pursue shared goals."
The DMPF application, supported by an Environmental Compliance
Certificate, are a key requirement towards the achievement of a
mineral permit with the Philippine Government for an exclusive
right to conduct mining operations within the tenement. Further
updates will be provided to share holders as the Company moves
through the approval process.
SAGAY COPPER-GOLD PROJECT
The Sagay Copper-Gold Project ("Sagay" or "the Project") is in
the northeastern part of Negros Island, within the City of Sagay in
the Province of Negros Occidental, Philippines (Figure 3). Negros
Island is part of the central group of Islands in the Philippines
commonly referred to as "the Visayas".
A Maiden Mineral Resource for Nabiga-a Hill was declared for the
project on 7 November 2022[1] comprising 302 million tonnes @ 0.41%
copper and 0.11g/t gold for 1.2 million tonnes of contained copper
and 1 million ounces of contained gold, of which 15 million tonnes
@ 0.45% copper and 0.11g/t gold is classified as Indicated and 287
million tonnes @ 0.41% copper and 0.11g/t gold is classified as
Inferred.
Figure 1. Location of the Sagay Project in the island of Negros,
Philippines.
Listing Rule 5.19 and 5.23 Disclosure
The information is this announcement with respect to the MRE for
the Sagay Project was first announced by the Company to ASX on 7
November 2022. The Company confirms that it is not aware of any new
information or data that materially affects the information
included in the announcement dated 7 November 2022 and that all
material assumptions and technical parameters underpinning the MRE
continue to apply and have not materially changed.
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.
Competent Persons Statement
Information in this report relating to the reporting of Mineral
Resource Estimates and Exploration Results is based on information
compiled, reviewed and assessed by Mr. Steven Olsen, who is a
Member of the Australasian Institute of Mining and Metallurgy and
the Australian Institute of Geoscientists. Mr. Olsen is a
consultant to Celsius Resources Limited and has sufficient
experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined by the 2012
Edition of the Australasian Code for reporting of Exploration
Results, Mineral Resources and Ore Reserves. Mr. Olsen consents to
the inclusion of the data in the form and context in which it
appears.
This announcement has been authorised by the Board of Directors
of Celsius Resources Limited.
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
W: www.celsiusresources.com
Celsius Resources Limited
Peter Hume P: +61 2 8072 1400
(Managing Director) E: info@celsiusresources.com.au
W: www.celsiusresources.com
Multiplier Media
(Australia Media Contact) Jon M: +61 402 075 707
Cuthbert E: jon.cuthbert@multiplier.com.au
Tavistock Communications
(UK Media and Investor Relations) +44 (0) 207 628 3396
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 P: +44 (0) 207 628 3396
(Nominated Adviser) E: corpfin@b-cornish.com.uk
Roland Cornish/Felicity Geidt/Andrew
Price
WH Ireland (Broker) P: +44 (0) 20 7220 1666
Harry Ansell/James Joyce/Isaac
Hooper
[1] Refer to ASX announcement dated 7 November 2022 for the
maiden Mineral Resource Estimate (MRE) for the Sagay Project
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END
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