21st Nov 2007 07:48
Centamin Egypt Limited21 November 2007 NEW HIGH GRADE ZONE AT AMUN DEEPS DISCOVERED WITH 22m @ 21.83g/t Centamin Egypt Limited ("Centamin" or "the Company") (ASX:CNT, AIM:CEY, TSX:CEE)which is developing the first large scale modern gold mine in Egypt, is pleasedto announce it has intersected a further extremely high grade zone of goldmineralization during its drilling program at the Sukari project in the EasternDesert region. This mineralized intersection sits outside the current optimized pit shell andalso outside the upgraded 6.84 Moz Measured and Indicated resource (Measured2.6Moz, Indicated 4.2Moz), and 3.6 Moz Inferred resource, which was announced on20 September 2007. The high grade gold assay results were intersected in hole RCD1221 which wasdrilled as a step-out hole to test the down dip extension of the porphyry in theAmun zone on northing 10525N. This hole intersected a high grade zone of 22m @21.83g/t Au from 549m, containing a higher grade zone of 8m @ 58.58g/t Au withvisible gold from 559m. The intersection is a high grade structure parallel to and below the Hapi Zone.This deeper structure correlates to 6m @ 15.21g/t Au in hole RCD521 from 542m25m north on 10550N and an adjacent, extremely high grade looking zonecontaining abundant visible gold and sulphide, intersected in recently drilledhole RCD1280 (assay results are awaited). Hole RCD1279, a further 100m north on 10650N, has also intersected thick, highlymineralised porphyry with quartz veins containing several visible gold grains ina similar zone at depth and assays are also pending for this hole. Pending theassays awaited and infill drilling, this is consistent with the continuity alongstrike of the high grade Amun Deeps mineralization and the presence of anothersignificant high grade structure beneath the Hapi Zone. The current drill program has been very successful in targeting the down dipextension of the Hapi zone and deeper parallel high grade structures within themain porphyry, providing significant results over the past few months of focusin the Amun Deeps area. It remains the Company's strategy to drill further theAmun Deeps zone to add significant ounces to the global gold resource. Further recent assay results from this current Amun Deeps program are asfollows: HOLE NORTH EAST AZI DIP EOH (m) FROM (m) INTERVAL Gold (g/t) (m) RCD1173 10000 10675 270 -77 571 384 26 3.59 RCD1174 10100 10665 270 -85 579 371 104 1.59 RCD1225 10125 10662 270 -87 586.7 366 83 1.95 Including 380 3 15.83 RCD1187 10450 10750 270 -70 452.7 299 51 4.45 RCD1221 10525 10800 270 -85 666.2 393 22 2.01 455 26 3.07 549 22 21.83 Including 559 8 58.58 For Centamin Egypt Limited Josef El-Raghy Managing Director/CEO 21 November 2007 For more information please contact: Centamin Egypt Limited Pelham Public Relations Ambrian Partners Limited + 61 (8) 9316 2640 + 44 (0) 207 743 6376 + 44 (0) 207 776 6400 Josef El-Raghy Candice Sgroi Richard Brown www.centamin.com Mobile: + 44 (0) 7894 462 114 Information in this report which relates to exploration, geology, sampling anddrilling is based on information compiled by geologist Mr R Osman who is a fulltime employee of the Company, and is a member of the Australasian Institute ofMining and Metallurgy with more than five years experience in the fields ofactivity being reported on, and is a 'Competent Person' for this purpose and isa "Qualified Person" as defined in "National Instrument 43-101 of the CanadianSecurities Administrators". His written consent has been received by the Companyfor this information to be included in this report in the form and context whichit appears. The assay samples were analysed by Ultra Trace Pty Ltd, CanningVale, Western Australia. The information in this report that relates to mineral resources is based onwork completed by Mr Nicolas Johnson, who is a Member of the AustralianInstitute of Geoscientists. Mr Johnson is a full time employee of Hellman andSchofield Pty Ltd and has sufficient experience which is relevant to the styleof mineralisation and type of deposit under consideration and to the activitywhich he is undertaking to qualify as a "Competent Person" as defined in the2004 edition of the "Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101 of the Canadian Securities Administrators". MrJohnson consents to the inclusion in the report of the matters based on hisinformation in the form and context in which it appears. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Centamin PLC