Celsius Resources Limited (Celsius or the Company) (ASX: CLA) is pleased to announce it has identified ten priority gold targets within its 100% owned Yass gold project in the Lachlan Fold Belt region of NSW, Australia.
Highlights:
- Multiple high priority targets identified at Yass gold project following geological and geophysical data review
- Geology at Gooda and Daltons prospects interpreted to host NNE & NNW intersecting structure similar to the historic Caledonian Mines area held by Sky Metals
- Key targets located 8 km along strike from Caledonian Mines
- Draft instrument of Grant for ELA 5928 received (final grant to shortly follow), paving the way for field activities to commence at the Project.
- Celsius continues to review potential acquisitions and investments in commodities which complement or diversify the Company’s current commodity exposure
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The priority targets have been developed following a review of all available geological and geophysical data at the project, which comprises the historic high grade Gooda and Daltons gold fields near the town of Yass in NSW, along strike from the Caledonian Mines area held by Sky Metals (ASX.SKY)
Commenting on the prospective targets, Celsius Resources Chairman Bill Oliver said: “The Lachlan Ford Belt is an increasingly active exploration region due to the exciting gold deposits which have recently been discovered. We are pleased to be able to generate some high-quality targets within the region at both the Yass and Cullarin West projects. The forthcoming grant of ELA 5928 will allow Celsius to build an exciting exploration campaign at these projects and I look forward to updating investors and the broader market as the program progresses.”
Multiple geological similarities to the Caledonian Mines area have been identified, located 8 km along strike to the north where 81m at 0.9 g/t Au was returned from historical trenching and 6 m at 8 g/t Au from historic drilling.
Magnetic data indicates prominent intersecting north-northeast and north-northwest structures at the Caledonian Mines area with similar structures observed at the Gooda and Daltons prospects held by Celsius.
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