Celsius Reports 86m at 0.56% Cu Including 16m at 1.26% Cu in New Drill Hole

Strong Drill Results Bolster MCB Project Outlook

Celsius Resources Limited has announced compelling new drilling results from its flagship MCB Copper-Gold Project in the Philippines. The latest diamond drill hole, MCB-UG-001, intersected a continuous 86-metre zone grading 0.56% copper and 0.06 grams per tonne gold starting at just 16 metres downhole. Within this broader interval, a higher-grade section of 16 metres at 1.26% copper was also identified, surpassing expectations based on the existing resource model.

These results provide a robust validation of the mineralisation continuity and grade, reinforcing the economic potential of the deposit. The MCB Project, located in the Cordillera Administrative Region of Northern Luzon, is already supported by a substantial Mineral Resource Estimate announced in late 2022, comprising 338 million tonnes at 0.47% copper and 0.12 g/t gold.

Feasibility Study Update Progresses

The company reports that the feasibility study update is now 60% complete, with final mine design and 3D layouts for the processing plant and site infrastructure nearing completion. This study aims to refine the project economics and operational plans, building on a prior scoping study that envisaged a 25-year underground mining operation with a processing plant capacity of 2.28 million tonnes per annum.

Key economic indicators from the earlier study included a post-tax net present value of US$464 million and an internal rate of return of 31%, assuming copper and gold prices of US$4.00 per pound and US$1,695 per ounce respectively. The updated feasibility study is expected to incorporate the new drilling data, potentially enhancing the project's value proposition.

Next Steps and Market Implications

Pending assay results for the deeper sections of the drill hole, which extend to over 450 metres, will be released once validated. Following the completion of all assays, Celsius plans to publish an updated Mineral Resource Estimate and a JORC Ore Reserve Statement alongside the final feasibility study update by December 2025.

These developments are critical milestones for Celsius Resources as it advances the MCB Project towards potential production. The confirmation of higher-grade mineralisation zones strengthens the case for a robust mine plan that could deliver significant value to investors and stakeholders.