CLA (ASX) Ann: Quarterly Activities Report

Originally posted by gertom ↑

Originally posted by bigfatsirion
Still well funded, and an additional $700k being spent on exploration and evaluation this quarter, compared to last. Northwest anticline drilling results in 3-4 weeks time, and updated Mineral Resource in March. Exploration drilling of the regional targets not progressing as quickly as I thought / hoped, perhaps the anticline has really grabbed their attention, perhaps they're being deliberately vague so they can drop a number or exploration results in succession, or perhaps they're not that interesting.

Its these comments that sustain my excitement though. I get the undertone, but wish I understood them better technically:

"The number of sediment-hosted mineralisations and the lateral extent of the mineralised horizons (DOF Cobalt-Copper horizon 43 km, NOTZ Zinc-Lead horizon 25 km) point to a very large hydrothermal system tapping fluids from the basement and kilometre thick sedimentary successions in the basal rocks of the local Neoproterozoic basin, and an effective way of precipitation in the form of SEDEX (McArthur River type and Mn-Fe-Bahorizons), Copperbelt-style (“first reductant” type) and MVT-type deposits in carbonate rocks in the later carbonate sediments of the basin. Celsius is planning to test 5 of the prospects in a first drilling phase and further targets later in 2019. ASX RELEASE | PAGE 8 The Damaran orogeny lead to a part remobilisation of the base metals and re-precipitation as orogenic copper systems (chalcopyrite-pyrrhotite-quartz-carbonate) as well as late Zn-Pb-quartz-carbonate veins. While these veins often form small high grade mineralisations they are not regarded as exploration targets but potentially point to mineralised source rocks at depth."
BFS & RDL thought I might repost comments on CLA Nov 30 Ann.
My Comments Dec02
Pointers from CLAann. of drilling program Red my comments

The Company’s largermetallogenetic model - drill targets for the licence area
All of Celsius’ targets in the Kunene area form part of a regionalmetallogenetic model withthe world-class DOF cobalt-copper deposit Maiden Jorc and several significant prospects notfollowed up yet by exploration. now to bedrilled. The number of sediment-hosted mineralisations and the lateralextent of the mineralised horizons (DOF Cobalt-Copper horizon 43 km, NOTZZinc-Lead horizon 25 km) point to a very large hydrothermal system tappingfluids under lining by CLA from thebasement and kilometre thick sedimentary successions in the basal rocks of thelocal Neoproterozoic basin, and an effective way of precipitation in the formof SEDEX (McArthur River type and Mn-Fe-Bahorizons), Copperbelt-style (“firstreductant” type) and MVT-type deposits in carbonate rocks in the latercarbonate sediments of the basin. Celsius will test 5 of the prospects in a first drilling phase and 4targets in 2019

Structures related to the Opuwo lineament have likely acted as animportant fluid pathway over long time spans during the early extensionaltectonic regime, forming a focusing mechanism for fluid flow, and thus mineralisation potentialalong this feeder zone(Figure 2). The Opuwo Lineament drill targets have been clearly definedby conductors from the recent SkyTEM data and are supported by geochemicalanomalism (Co, Cu, Zn) identified in regional soil sampling programs.
IMO...This13 Hole drill program should give a valuable understanding of the largermetallogenetic model
Andpossibly discovery of new mineable mineralisation
Andperhaps discovery of that sort after feeder zone

Expand

Note of interest from the quarterly report.

"Commenced high level discussions with potential off take customers".

Things coming together.
Just need the price of Cobalt to move up.

No.	Vol.	Price($)
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0.012	1968589	6
0.013	1135230	3
0.014	3150000	6
0.015	500000	1
0.016	2155633	7

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(20min delay)
Last 1.0¢		Change -0.001(9.09%)		Mkt cap ! $29.13M

Open	High	Low	Value	Volume
1.1¢	1.1¢	1.0¢	$717	70.60K

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