20th Dec 2007 07:00
Centamin Egypt Limited20 December 2007 Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE, ASX:CNT, AIM:CEY) SUKARI GOLD PROJECT RESOURCE UPGRADE 7.46 MOZ MEASURED AND INDICATED, PLUS 3.7 MOZ INFERRED HIGHLIGHTS * The Sukari Mineral Resource upgraded to 7.46 Moz Measured and Indicated, plus3.7 Moz Inferred * An increase of 0.62 Moz Measured and Indicated ounces and 0.04 Moz Inferredounces above the Mineral Resource announced in September 2007 * The resource increase is based on additional assay results from approximately15,000 metres of drilling received from 12 September 2007 to 12 December 2007 * Drilling continues with 9 rigs on site RESOURCE MODELLING Total Resource (December 2007) Measured Indicated Total Inferred Cut-off (Measured + Indicated) Mt g/t Mt g/t Mt g/t Moz Mt g/t Moz 0.5 60.10 1.41 99.87 1.48 159.96 1.45 7.46 64.0 1.8 3.7 0.7 43.01 1.73 72.25 1.81 115.26 1.78 6.61 47.6 2.2 3.3 1.0 27.66 2.22 47.20 2.33 74.86 2.29 5.52 32.9 2.8 2.9 Note to Table: Figures in table may not add correctly due to rounding The resources are estimates of recoverable tonnes and grades using MultipleIndicator Kriging ("MIK") with block support correction. Typically, measuredresources lie in areas where drilling is available at a nominal 25 x 25 metrespacing, indicated resources occur in areas drilled at approximately 25 x 50metre spacing and inferred resources exist in areas of broader spaced drilling.The resource model extends from 9700mN to 12200mN and to an approximate depth of350mRL (approximately a maximum depth of 950 metres below the crest of theSukari hill) and is based on all assay data available at 12 December 2007. Thesampling from an additional 15,000 metres of drilling (primarily diamond drillcore) has been added to the resource sampling data set used in the new mineralresource estimate. The Measured and Indicated Mineral Resource has increased by 0.62 Moz and by 9%to 7.46 Moz, from 6.84 Moz (20 September 2007), showing the effectiveness of theinfill drilling. South of 11300N the resource is 6.68 Moz Measured and Indicatedplus 3.0 Moz Inferred; 90% of the total Measured and Indicated resource atSukari is south of 11300N. The majority of the resource growth occurred within the Amun Deeps and Ra/Gazelle Zones, both testing the Hapi Zone and parallel mineralized structures.Some of the high grade intersections in the estimate included at 10450N - 51m @4.45g/t from 299m (RCD1187), 10525N - 22m @ 21.83g/t from 549m (RCD1221) and11200N - 43m @ 5.01g/t from 593m (D1240). Other significant intersections are inthe table below. Drilling will continue to test the Hapi Zone and related structures in the AmunDeeps, Ra/Gazelle and Pharaoh Zones with 9 rigs on site. Significant high grade samples included in December 2007 Resource: Hole North East Azi Dip EOH (m) From (m) Interval (m) Gold (g/t) *RCD1173 10000 10675 270 -77 571 384 26 3.59 *RCD1225 10125 10662 270 -88 586.7 366 83 1.95 RCD1224 10175 10665 270 -87 556.5 338 10.3 36.09 RCD1228 10275 10700 270 -73 467.1 298 61 4.35 RCD1228 10275 10700 270 -73 467.1 434 4 36.62 D1271 10425 10700 270 -77 481.8 297 42 2.75 *RCD1187 10450 10750 270 -70 452.7 299 51 4.45 *RCD1221 10525 10800 270 -85 666.2 455 26 3.07 *RCD1221 10525 10800 270 -85 666.2 549 22 21.83 D1240 11200 10700 270 -77 652.2 462 58 4.32 D1240 11200 10700 270 -77 652.2 593 43 5.01 *RCD756 11425 10620 0 -90 877.5 791 58 3.76 Note: Intervals shown in the table are down hole intercepts, drilled at highangles relative to the internal mineralized structures and the Sukari Porphyry. * Denotes assay intersections previously announced on 06 and 21 November 2007. Please note that the full version of this announcement, including pictures and/or charts will be available on the Company's website www.centamin.com. For Centamin Egypt Limited Josef El-RaghyManaging Director/CEO19 December 2007 For more information please contact: Centamin Egypt Limited+ 61 (8) 9316 2640Josef El-Raghy Pelham Public RelationsTe l : + 44 (0) 207 743 6672, Mobile : + 44 (0) 7977 297 903Charles Vivian Ambrian Partners Limited+ 44 (0) 207 776 6400Richard Brown 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. Refer to the Technical Report which was filed in March 2007 for furtherdiscussion of the extent to which the estimate of mineral resources/reserves maybe materially affected by any known environmental, permitting, legal, title,taxation, socio-political, marketing or other relevant issue. Incorporation By Reference - This press release is incorporated by reference inCentamin Egypt Limited's final short form prospectus dated 18 December 2007filed with the securities regulatory authorities in each of the provinces ofCanada (except for Quebec). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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