29th Nov 2007 07:01
Centamin Egypt Limited29 November 2007 CENTAMIN EGYPT LIMITED INITIAL DRILLING AT KURDEMAN PROSPECT INTERSECTS ORE GRADE ZONES Centamin Egypt Limited (ASX:CNT, AIM:CEY, TSX:CEE) which is developing the firstlarge scale modern gold mine in Egypt is pleased to announce that it hasintersected ore grade zones during reconnaissance reverse-circulation drillingof historical workings at the Kurdeman prospect in Egypt's eastern desert. See link to map of Sukari Gold Mines: http://www.rns-pdf.londonstockexchange.com/rns/7393i_-2007-11-28.pdf The initial 5 hole drill program was carried out at the Kurdeman prospect, whichlies 8 kilometres south along strike of the major Sukari gold deposit whichCentamin is developing to bring into production in the fourth quarter of 2008.As previously reported, the current resource estimate of the Sukari depositstands at 6.84 Moz Measured and Indicated, and 3.6Moz Inferred. Drilling intersected the targeted quartz vein-shear zone, which was worked byancient and colonial miners, hosted in felsic to intermediate volcanic andintrusive rocks. The high grade gold mineralisation intersected is associated with smoky greyquartz veins and sulphides. Hole KRC002 returned an ore grade intercept ofdownhole thickness 9m @ 9.29g/t Au from 27m, including 2m @ 32.2g/t Au from 32min the smoky quartz vein. The shallow ore grade interval was in a wider 30m zone of Au anomalous,hydrothermally altered and sheared felsic to intermediate rock. Hole KRC005, drilled 140m south along strike of KRC002, intersected similarzones involving smoky, massive quartz veining in sheared and altered felsicrocks. Two ore grade zones were returned, 3m @ 4.56g/t Au from 18m (including 1m @8.54g/t from 19m) and 2m @ 11.92g/t from 26m, with a similar halo ofmineralisation in altered and sheared rock. The intersections are open alongstrike and down dip. Centamin is planning further drilling to assess the Kurdeman Shear Zone andquartz veins. The company considers Kurdeman and the numerous other regionaltargets contained within the 160 km2 Sukari Concession, to be highly significantas potential sources of high grade mill feed for the Sukari plant. Geological sampling and mapping at several other regional prospects close to themain Sukari Gold Mine have also returned strongly gold anomalous resultsrequiring follow up. The following table shows the full intersections from the 5 hole programdescribed above: HOLE NORTH EAST DIP AZI EOH FROM TO INTERVAL AUAR1 KRC002 2752141 671189 -60 270 150 27 36 9 9.29 incl. 32 34 2 32.20 145 146 1 14.00 KRC005 2751991 671194 -60 270 150 18 21 3 4.56 incl. 19 20 1 8.54 26 28 2 11.92 incl. 27 28 1 20.40 For Centamin Egypt Limited Josef El-RaghyManaging Director/CEO29 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 6400Josef El-Raghy Candice Sgroi Richard Brownwww.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. Centamin Egypt Limited reported an upgraded 6.84 Moz Measured and Indicatedresource (Measured 2.6Moz, Indicated 4.2Moz), and 3.6 Moz Inferred resource, on20 September 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Centamin PLC