20th Sep 2007 12:21
Centamin Egypt Limited20 September 2007 SUKARI GOLD PROJECT UPGRADES RESOURCE BY 666,000 OUNCES TO 10.45 MOZ Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE, ASX:CNT, AIM:CEY)which is rapidly developing the Sukari Gold project to production, has recordedthe largest month on month resource increase since the commencement of drillingin 1997. Since the last resource update of 9.79 million ounces (Measured : 2.5Moz,Indicated : 4.0Moz, Inferred : 3.3Moz), released on 08 August 2007, the resourcehas risen above 10 million contained ounces. HIGHLIGHTS • Sukari Mineral Resource upgraded to 10.45 million contained ounces of gold • Increase of 666,000 ounces above the Mineral Resource announced in August 2007 • Cost per ounce discovered to date - US$5 • Mineral Resource increase based on 6 weeks of drilling data • Further high grade intersections of 2m @ 76.35g/t Au, 23m @ 6.23g/t Au and 105m @ 4.10g/t Au • Drilling continues with 9 rigs on site RESOURCE MODELLING The Sukari Mineral Resource now stands at 212.83Mt @ 1.53g/t Au for 10.45Moz Au(Measured : 2.6Moz, Indicated : 4.2Moz, Inferred : 3.6Moz), at a 0.5g/t Au cutoff grade. +-------------------------------------------------------------------------------------------+| Mineral Resource (September 2007) |+---------+---------------------+-------------------+--------------------+------------------+| | | | Total | || | | | | || | Measured | Indicated | (Measured + | Inferred || | | | Indicated) | || Cut-off +---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+| | Mt | g/t | Moz | Mt | g/t | Moz | Mt | g/t | Moz | Mt | g/t | Moz |+---------+---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+| 0.5 | 57.43 |1.40 | 2.6 | 91.02 |1.45 | 4.2 | 148.45 |1.43 |6.84 | 64.4 | 1.7 | 3.6 |+---------+---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+| 0.7 | 41.13 |1.72 | 2.3 | 65.46 |1.79 | 3.8 | 106.59 |1.76 |6.04 | 47.6 | 2.2 | 3.3 |+---------+---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+| 1.0 | 26.50 |2.21 | 1.9 | 42.57 |2.30 | 3.1 | 69.07 |2.27 |5.03 | 32.7 | 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 with block support correction. Measured resources lie in areaswhere drilling is available at a nominal 25 x 25 metre spacing, Indicatedresources occur in areas drilled at approximately 25 x 50 metre spacing andInferred resources exist in areas of broader spaced drilling. The resource modelextends from 9700mN to 12200mN and to a maximum depth of 350mRL (a maximum depthof 950 metres below the crest of the Sukari hill) and is based on all assay dataavailable at 12 September 2007. Significant growth of the resource occurred in the last 6 weeks in the Hapi Zoneof the Amun Deeps from 10100N to 10400N. This accounted for approximately 80% ofthe upgrade and further drilling is underway which will continue to add to thishighly prospective area. Several high grade zones have previously been reported in this area and beloware two additional holes included in this upgrade. Hole North East Azi Dip EOH (m) From (m) Interval Gold (g/ (m) t)RCD1166 10102 10611 270 -87 534.50 279 23 6.23RCD1166 10102 10611 270 -87 534.50 309 68 1.89 RCD1178 10298 10758 270 -85 617.60 380 105 4.10RCD1178 10298 10758 270 -85 617.60 500 17 12.45 including 501 2 76.35 The Company is very pleased with the continued rapid increase in the size of theSukari Gold deposit and there still exists the potential for further significantresource addition within the same Amun / Ra / Gazelle and Pharaoh zones asdrilling continues. For Centamin Egypt Limited Josef El-RaghyManaging Director/CEO 20 September 2007 For more information please contact: Centamin Egypt Limited Pelham Public Relations Evolution Securities+ 61 (8) 9316 2640 + 44 (0) 207 743 6376 + 44 (0) 20 7071 4300Josef El-Raghy Candice Sgroi Simon Edwards([email protected])www.centamin.com Mobile: + 44 (0) 789 446 2114 www.uk.evosecurities.com 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