Celsius Resources (ASX:CLA) announced its first JORC-compliant ore reserve estimate for the Maalinao-Caigutan-Biyog Copper-Gold Project in the Philippines, operated through its affiliate Makilala Mining.
The maiden reserve defines 130.2 million tonnes of underground ore grading 0.66% copper and 0.21 g/t gold, containing approximately 856,000 tonnes of copper and 891,000 ounces of gold at a 0.84% copper-equivalent grade.
The estimate underpins the Project’s updated feasibility study and ongoing discussions with potential financing partners. It has been prepared and certified by DMT Consulting, an independent competent person with no commercial interest in Celsius or MCB.
The proposed underground operation will employ sub-level open stoping with paste backfill and dry-stack tailings, supported by a conventional concentrator plant.