Sukari Gold Project Resource

RNS Number : 6086V

Centamin Egypt Limited

14 July 2009

 



Immediate Release

14 July 2009

Centamin Egypt Limited ('Centamin' or 'the Company') 

(TSX:CEE, ASX:CNT, AIM:CEY)

SUKARI GOLD PROJECT RESOURCE UPGRADE

520,000oz Gold increase in Measured and Indicated Resource

HIGHLIGHTS

• The Sukari mineral resource upgraded to 9.91Moz Measured and Indicated, plus 3.3Moz Inferred

• An increase in the Measured and Indicated resource of approximately 520,000oz or 6%

• New resource ounces based on assay results of 20,000m of drilling largely from the Pharaoh and Amun Zones, and the deeper Hapi Zone

• Drilling indicates that mineralization continues further North of the existing reserve, with continuous high grades in the deeper zones

• Significant results included in this upgrade 79m @ 4.48g/t Au and 43m @ 17g/t Au

Figure 1 - Sukari resource growth graph from April 1997 to July 2009

 Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/6086V_-2009-7-14.pdf

 RESOURCE MODELLING

Table 1 - Total Resource (July 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 Au	(Mt)	(g/t Au	(Mt)	(g/t Au	(Moz)	(Mt)	(g/t Au)	(Moz)
0.5	75.65	1.48	125.77	1.56	201.41	1.53	9.91	61.3	1.7	3.3
0.7	54.48	1.82	91.50	1.93	145.97	1.89	8.85	43.9	2.1	2.9
1	35.50	2.35	60.89	2.47	96.39	2.43	7.52	29.3	2.7	2.5

Note to Table: Figures in table may not add correctly due to rounding

The recent drilling effort has been successful in both conversion of Inferred resources to Measured and Indicated, and global growth in the Pharaoh and Amun Zones targeting the Hapi Zone. Measured and Indicated resources grew by approximately 6% to 9.91Moz, and account for 75% of the global resource (i.e. all categories). 

High grade intersections included in the estimate are related to the Hapi Zone and deeper zones of mineralization which include in the Pharaoh Zone; 43m @ 17.00g/t Au from 499m in hole RCD1435* (11250N), 79m @ 4.48g/t Au from 662m in hole D1420* (11275N) and 17m @ 10.49g/t Au from 610m and 55m @ 3.48g/t Au from 641m in hole D1431* (11400N). Please refer to Table 2 below for details on these and other significant intersections. 

The drilling shows the high grade Hapi and related zones extend from the far south Amun Zone over 1.5km north to the area of current drilling, and may possibly continue to the northern end of the hill. These zones along the entire strike length of Sukari Hill (2.5km) are the target of current comprehensive infill and extension drilling with 8 diamond drilling rigs.

Table 2 - Significant high grade samples included in July 2009 Resource 

HOLE	NORTH	EAST	DIP	AZI	EOH (m)	FROM (m)	INTERVAL (m)	GOLD (g/t)	ZONE	STRUCTURE
D1420*	11275	10835	-80	270	763.5	654	79	4.48	Pharaoh	Hapi
D1423*	11350	10866	-88	270	644.8	542	47	2.85	Pharaoh	Hapi
D1431*	11400	10850	-83	270	786.1	610	17	10.49	Pharaoh	Hapi
D1431	11400	10850	-83	270	786.1	641	55	3.48	Pharaoh	Hapi
D1432	10475	10784	-73	270	692.7	314	97	1.98	Amun Deeps	Hapi
D1435*	11250	10950	-84	270	584	499	43	17.00	Pharaoh	Hapi
D1440	11300	10883	-83	270	683.3	569	14	6.71	Pharaoh	Hapi
D1446	11550	10787	-87	270	753	636	70	2.20	Pharaoh	Hapi

Note to Table: Intervals shown in the table are down hole intercepts, drilled at high angles relative to the internal mineralized structures and the Sukari Porphyry. 

*Previously announced 20 May 2009.

For Centamin Egypt Limited

Josef El-Raghy

Managing Director/CEO

14 July 2009

For more information please contact:

Centamin Egypt Limited + 61 (8) 9316 2640 Josef El-Raghy  www.centamin.com

Buchanan Communications Limited + 44 (0) 207 7466 5000 Bobby Morse Ben Willey

Ambrian Partners Limited + 44 (0) 207 7634 4700 Richard Brown Richard Greenfield

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 May 2009 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.

 

END

 

 

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