RNS Number:8369RCentamin Egypt Limited08 April 2008 Centamin...

RNS Number:8369R
Centamin Egypt Limited
08 April 2008
Centamin Egypt Limited ("Centamin" or "the Company")
(TSX:CEE, ASX:CNT, AIM:CEY)
SUKARI GOLD PROJECT RESOURCE UPGRADE
8.12 MOZ MEASURED AND INDICATED, PLUS 3.5 MOZ INFERRED
HIGHLIGHTS
* The Sukari Mineral Resource upgraded to 8.12 Moz Measured and Indicated, plus
3.5 Moz Inferred
* An increase of 660,000oz in Measured and Indicated ounces above the Mineral
Resource announced in December 2007 (an increase of approximately 9%)
* The resource increase is based on additional assay results from approximately
21,000 metres of drilling received from 12 December 2007 to 30 March 2008
* Total drilling to date exceeds 325,000m and 1,350 holes
Total Resources Graph:
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RESOURCE MODELLING
Total Resource (March 2008)
Measured Indicated Total Inferred
Measured + Indicated
Cut-off Tonnes Grade Tonnes Grade Tonnes Grade Gold Tonnes Grade Gold
g/t Au (Mt) (g/t Au) (Mt) (g/t Au) (Mt) (g/t Au) (Moz) (Mt) (g/t Au) (Moz)
0.50 63.85 1.43 107.84 1.50 171.69 1.47 8.12 63.2 1.7 3.5
0.70 46.12 1.75 78.99 1.82 125.11 1.80 7.23 46.7 2.1 3.2
1.00 29.94 2.24 52.19 2.33 82.13 2.30 6.07 31.8 2.7 2.8
Note to Table: Figures in table may not add correctly due to rounding
The resources are estimates of recoverable tonnes and grades using Multiple
Indicator Kriging ("MIK") with block support correction. Typically, measured
resources lie in areas where drilling is available at a nominal 25 x 25 metre
spacing, indicated resources occur in areas drilled at approximately 25 x 50
metre spacing and inferred resources exist in areas of broader spaced drilling.
The resource model extends from 9700mN to 12200mN and to an approximate depth of
350mRL (approximately a maximum depth of 950 metres below the crest of the
Sukari hill) and is based on all assay data available at 30 March 2008. The
sampling from an additional 21,000 metres of drilling (primarily diamond drill
core) has been added to the resource sampling data set used in the new mineral
resource estimate.
The focus of the last three months drilling effort has been very successful in
that Measured and Indicated resources grew significantly by approximately 9%
from 7.46Moz (19 December 2007) to 8.12Moz. The company is extremely pleased
with the progress of the infill drilling programme in the Amun Deeps which
augurs well for future underground development of this area. Measured and
Indicated resources now account for 70% of the global resource i.e. all
categories.
Resource growth at Sukari occurred within the Amun Deeps from 9900N to 10700N,
testing the Hapi Zone and deeper, sub-parallel mineralized structures. Some of
the high grade intersections in the estimate included at 10550N hole D1280 which
intersected spectacular visible gold and galena in a massive quartz vein (558
-559m) within highly mineralised porphyry returning 35m @ 164.09g/t Au* from
550m (including 1m @ 5,420g/t Au* from 558m). At 9950N, hole D1308 intersected
11m @ 12.90g/t Au from 419m and at 10125N, hole D1328 returned 19m @ 8.03g/t Au
from 292m. Details on these and other significant intersections are in the table
below.
Planned drilling will continue to infill and step-out to test the extension of
the Hapi Zone and related structures in the Amun Deeps Zone to 11200N. Drilling
will re-commence in the Ra/Gazelle and Pharaoh Zones north of 11200N where
mineralization is open and requires infill to fully define the Hapi Zone and
related high grade structures.
Significant high grade samples included in March 2008 Resource
Hole North East Azi Dip EOH (m) From Interval Gold (g/t)
(m) (m)
D1308 9950 10645 270 -80 535.4 419 11 12.90
incl. 420 1 119.00
D1306 10025 10612 270 -87 390 86 1.91
D1328 10125 10660 270 -76 654.4 292 19 8.03
incl. 296 7 20.58
317 72 2.36
D1294 10225 10715 270 -83 655.5 355 57 1.72
427 20 2.04
D1298 10325 10700 270 -74 421 19 3.73
D1301 10375 10700 270 -78 636.9 306 31 2.84
404 51 2.04
D1307 10400 10845 270 -80 469.2 422 19 5.31
incl. 429 1 63.50
D1295 10475 10515 270 -83 342.8 159 16 3.44
*D1280 10550 10842.63 270 -82 726.70 469 46 2.21
550 35 164.09
incl. 558 1 5420.00
incl. 576 2 49.65
Notes: (1) Intervals shown in the table are down hole intercepts, drilled at
high angles relative to the internal mineralized structures and the Sukari
Porphyry; true widths do not apply or are not used in drilling the stockwork
style mineralization at Sukari; (2) * Denotes assay intersections previously
announced on 06 February 2008.
For Centamin Egypt Limited
Josef El-Raghy
Managing Director/CEO
08 April 2008
For more information please contact:
Centamin Egypt Limited Pelham Public Relations Ambrian Partners Limited
+ 61 (8) 9316 2640 Tel : + 44 (0) 207 743 6376, + 44 (0) 207 634 4709
Josef El-Raghy Mobile : + 44 (0) 789 446 2114 Richard Brown
Candice Sgroi
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END