Sukari Gold Project Resource

RNS Number : 2038N

Centamin Egypt Limited

12 February 2009

 



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

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

SUKARI GOLD PROJECT RESOURCE UPGRADE

9.39 MOZ MEASURED AND INDICATED, PLUS 3.5 MOZ INFERRED

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 

Follow the link below to view;

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

http://www.rns-pdf.londonstockexchange.com/rns/2038N_1-2009-2-12.pdf

 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 Au	(Mt)	(g/t Au	(Mt)	(g/t Au	(Moz)	(Mt)	(g/t Au	(Moz)
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 

HOLE	NORTH	EAST	DIP	AZI	EOH (m)	FROM (m)	INTERVAL (m)	GOLD (g/t)	ZONE
RCD470	11500	10669	-85	90	817.5	691	66	4.8	Pharaoh Zone
RCD571	11450	10652	-88	90	867.8	763.7	48.3	1.42	Pharaoh Zone
D1388	10050	10550	-83	270	670.7	439	20	7.39	Downthrust
RCD1391	10475	10795	-75	270	1136.7	356	189	2.51	Amun Deeps
						860	9	4.52	Horus Zone
D1392	10525	10587	-86	270	1076.1	314	14	6.28	Hapi Zone
D1408	11575	10683	-87	270	788	686	47	1.78	Pharaoh Zone

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

For more information please contact:

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

Pelham Public Relations + 44 (0) 207 743 6376 Candice Sgroi Mobile: + 44 (0) 7894 462 114

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 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.

 

END

 

 

MSCIIFEVFAIFLIA