Centamin Egypt Ltd
Gold Project: 9.39 Moz Measured and Indicated, Plus 3.5 Moz Inferred
Centamin Egypt Limited, Mount Pleasant, Western Australia., (TSX: CEE.TO) (ASX: CNT.AX) (AIM: CEY), is a mineral exploration and development company that has been actively exploring in Egypt since 1995.
1 billion shares outstanding ( 1,011,023,333 ) fully diluted as at 11 February 2009
The principal asset of Centamin is its interest in the Sukari Gold Project, located in the Eastern Desert of Egypt.
Sukari Gold Project
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
The Sukari Gold Project is Egypt's first modern gold mine.
Ore will be hauled to the run of mine pad next to the Processing Plant and either direct tipped to the crusher or stockpiled for future reclaim at an initial throughput rate of 4M tonnes per annum.
The commencement of mining operations is a significant milestone for Centamin and for Egypt.
Mining has commenced with an initial fleet of five CAT 785C Dump Trucks and a O&K RH120E excavator. A further delivery of five CAT 785C Dump Trucks and a second O&K RH120E excavator is scheduled for February in order to advance development activities throughout 2009.
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