Celsius Resources Limited
ASX/AIM RELEASE
10
APRIL 2024
Sagay Project permit extension
issued
HIGHLIGHTS
·
The Philippine Mines and
Geosciences Bureau has issued an extension of the Sagay Project's
exploration permit.
______________________________________________________________________________
Celsius Resources Limited
("Celsius" or "the Company") (ASX, AIM:CLA) is pleased
to announce the extension of the exploration permit for the Sagay
Copper Project ("Sagay" or
"Project"), held under its
Philippine subsidiary, Tambuli Mining Company, Inc ("TMCI") located on the Island of Negros
in the Philippines.
The extension of EP-000003-VI was
issued on 1 April 2024 and was based on Section 30 of the
Department Administrative Order No. 2010-21[1], which states that "the exploration permit shall be deemed
automatically extended in case it expires prior to the approval of
the Declaration of Mining Project Feasibility ("DMPF") and until such time that a
mineral agreement is approved".
The Sagay Project's DMPF application
submitted to the Philippine Mines and Geosciences Bureau
("MGB") has been accepted
and is currently under review. The approval of said application
will consequently allow TMCI to apply for a mineral agreement with
the Philippine Government (see
CLA Announcement dated 8 January 2024).
Celsius Resources Executive
Chairman, Atty. Julito "Sarge" Sarmiento said:
"We are in the process of completing the Environmental Impact
Assessment for the Sagay Project as the basis for the issuance of
an Environmental Compliance Certificate which is one of the key
requirements for the approval of the DMPF. We are taking every step
to ensure that we have comprehensively covered all potential
environmental impacts of the proposed Project with avoidance,
protection and prevention as top of mind approaches, and that any
residual impacts are minimised and managed. Environmental
stewardship will always be at the forefront of our business
operations.
As
with our Maalinao-Caigutan-Biyog project ("MCB Project"), we will continue to
adhere with the Philippine Government's regulatory permitting
requirements to ensure the safe development and operations of the
Sagay Project."
The extended term of the exploration
permit for Sagay is limited to comply with the requirements of the
DMPF and further updates will be provided to shareholders as TMCI
moves through the approval process.
THE
SAGAY COPPER-GOLD PROJECT
Location
The Sagay Copper Project is located
in the north-eastern part of Negros Island, within the cities of
Sagay and Escalante in the Province of Negros Occidental,
Philippines (Figure 1). Negros Island is part of the central
group of Islands in the Philippines commonly referred to as "the
Visayas".
Figure 1. Location of the Sagay Copper
Project in the Island of Negros, Visayas,
Philippines
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.
An updated Mineral Resource Estimate
("MRE") was announced to
ASX on 6 February 2024 comprising of a combined measured,
indicated, and inferred Mineral Resource of 312 million tonnes @
0.39% copper and 0.11 g/t gold.
Listing Rule 5.19 and 5.23
Disclosure
The information is this announcement
with respect to the MRE for the Sagay Project was announced by the
Company to ASX on 6 February 2024. The Company confirms that it is
not aware of any new information or data that materially affects
the information included in the announcement dated 6 February 2024
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
(Managing Director)
|
P: +61 2 8072 1400
E:
info@celsiusresources.com.au
W:
www.celsiusresources.com
|
Multiplier Media
Jon Cuthbert
|
M: +61 402 075 707
E:
jon.cuthbert@multiplier.com.au
|
Beaumont Cornish Limited
(Nominated Adviser)
Roland Cornish/Felicity Geidt/Andrew
Price
|
P: +44 (0) 207 628 3396
E:
corpfin@b-cornish.com.uk
|
WH
Ireland (Broker)
Harry Ansell/James Joyce/Isaac
Hooper
|
P: +44 (0)
20 7220 1666
|
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.