- Published: 12 February 2009
- Written by Editor
Sukari Gold Project Resource Upgrade 9.39 Moz Measured and Indicated, Plus 3.5 Moz Inferred
Centamin Egypt Limited ("Centamin" or "the Company") (TSX: CEE)(ASX: CNT)(AIM: CEY) announces upgrades to the Sukari Gold Project in Egypt.
HIGHLIGHTS
- The Sukari mineral resource upgraded to 9.39 Moz Measured and Indicated, plus 3.5 Moz Inferred, at 0.5g/t cut-off
- Measured and Indicated resource increased by 376,582oz, Inferred increased by 174,355oz
- Measured and Indicated resources equal to 73% of global resources
- South of 11312N (ie 1.3km of the 2.3km outcrop) the resource is estimated at 8.53 Moz Measured and Indicated and 2.8 Moz Inferred, equal to 88% of global resource
- The resource increase is based on additional assay results from approximately 14,352 metres of drilling received from 02 October 2008 to 25th January 2009
- Total drilling to date exceeds 380,000 metres and drilling continues with 8 rigs on site
- Deepest hole drilled at Sukari (1,176 metres) to date stopped due to rig capacity in porphyry mineralization
- Results include 189m @ 2.51g/t Au, and 66m @ 4.80g/t Au
To view Figure 1, the Sukari resource growth graph from April 1997 to February 2009, please visit the following link: http://media3.marketwire.com/docs/CentaminSukariGraph.jpg
RESOURCE MODELLING
Table 1 - Total Resource (February 2009)
------- ------------- ------------- -------------------- ------------------
Total
Measured Indicated Measured + Indicated Inferred
------- ------------- ------------- -------------------- ------------------
Cut-off Tonnes Grade Tonnes Grade Tonnes Grade Gold Tonnes Grade Gold
------- ------------- ------------- -------------------- ------------------
g/t Au (Mt) (g/t (Mt) (g/t (Mt) (g/t (Moz) (Mt) (g/t (Moz)
Au) Au) Au) Au)
------- ------------- ------------- -------------------- ------------------
0.50 72.39 1.48 118.73 1.56 191.11 1.53 9.39 64.3 1.7 3.5
------- ------------- ------------- -------------------- ------------------
0.70 52.46 1.82 86.68 1.91 139.14 1.88 8.40 46.5 2.1 3.2
------- ------------- ------------- -------------------- ------------------
1.00 34.35 2.34 57.67 2.45 92.02 2.41 7.13 31.3 2.7 2.7
------- ------------- ------------- -------------------- ------------------
Note to Table: Figures in table may not add correctly due to rounding
The last four months drilling effort has been very successful in both conversion of inferred resources to Measured and Indicated resources and in global growth. Measured and Indicated resources grew by approximately 4% to 9.39Moz and the inferred grew by approximately 5% to 3.5Moz. Measured and Indicated resources account for 73% of the global resource (i.e. all categories).
Resource growth at Sukari occurred within the Amun Zone from 10350N to 10550N, testing the Horus Zone at depth where mineralization remains open greater than 1.1km below wadi level. Drilling also focused on the definition and conversion of inferred resources to higher confidence categories (Measured and Indicated) in the Amun Deeps and the Hapi Zone from 10475N to 10575N. In the Pharaoh Zone, significant resource addition occurred from 11425N to 11575N where the Hapi Zone has been defined further along strike. The structure remains open.
Some of the high grade intersections in the estimate included in the Amun Deeps at 10475N, where hole RCD1391 intersected highly mineralised porphyry returning 189m @ 2.51g/t Au from 356m. The hole also intersected the Horus Zone at depth, returning 9m @ 4.52g/t from 860m. In the Pharaoh Zone at 11500N, re-entry hole RCD470 returned 66m @ 4.80g/t Au from 691m in the Hapi Zone. Details on these and other significant intersections are in the table below.
Table 2 - Significant high grade samples included in February 2009 Resource
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EOH FROM INTERVAL GOLD
HOLE NORTH EAST DIP AZI (m) (m) (m) (g/t) ZONE
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RCD470 11500 10669 -85 90 817.5 691 66 4.8 Pharaoh Zone
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RCD571 11450 10652 -88 90 867.8 763.7 48.3 1.42 Pharaoh Zone
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D1388 10050 10550 -83 270 670.7 439 20 7.39 Downthrust
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RCD1391 10475 10795 -75 270 1136.7 356 189 2.51 Amun Deeps
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860 9 4.52 Horus Zone
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D1392 10525 10587 -86 270 1076.1 314 14 6.28 Hapi Zone
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D1408 11575 10683 -87 270 788 686 47 1.78 Pharaoh Zone
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Intervals shown in the table are down hole intercepts, drilled at high
angles relative to the internal mineralized structures and the Sukari
Porphyry.
Planned drilling will continue in the Pharaoh Zone to define the Hapi Zone and related high grade structures north along strike. In the Amun Zone, drilling will continue to test the Amun Deeps north of 10600N, and continue to outline the Downthrust and Horus Zones at depth.
For Centamin Egypt Limited
Josef El-Raghy, Managing Director/CEO
12 February 2009
Information in this report which relates to exploration, geology, sampling and drilling is based on information compiled by geologist Mr Richard Osman who is a full time employee of the Company, and is a member of the Australasian Institute of Mining and Metallurgy with more than five years experience in the fields of activity being reported on, and is a 'Competent Person' for this purpose and is a "Qualified Person" as defined in "National Instrument 43-101 of the Canadian Securities Administrators". His written consent has been received by the Company for this information to be included in this report in the form and context which it appears.
The assay samples were analysed by Ultra Trace Pty Ltd, Canning Vale, Western Australia.
The information in this report that relates to mineral resources is based on work completed by Mr Nicolas Johnson, who is a Member of the Australian Institute of Geoscientists. Mr Johnson is a full time employee of Hellman and Schofield Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a "Competent Person" as defined in the 2004 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". Mr Johnson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Refer to the Technical Report which was filed in March 2007 for further discussion of the extent to which the estimate of mineral resources/reserves may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issue.
ABN 86 007 700 352
Contacts:
Centamin Egypt Limited
Josef El-Raghy
+ 61 (8) 9316 2640
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.centamin.com
Pelham Public Relations
Candice Sgroi
+ 44 (0) 207 743 6376 or Mobile: + 44 (0) 7894 462 114
Ambrian Partners Limited
Richard Brown
+ 44 (0) 207 7634 4700
Ambrian Partners Limited
Richard Greenfield
+ 44 (0) 207 7634 4700
SOURCE: Centamin Egypt Limited
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.centamin.com
