TIDMCEY
RNS Number : 6550W
Centamin Egypt Limited
31 July 2009
+---------------------------------------+---------------------------------------+
| For Immediate Release | 31 July 2009 |
+---------------------------------------+---------------------------------------+
Centamin Egypt Limited ("Centamin" or "the Company")
(TSX:CEE, ASX:CNT, AIM:CEY)
QUARTERLY REPORT FOR THE QUARTER ENDED 30 JUNE 2009
Highlights
Construction and Development
* First gold pour achieved from the Sukari Gold Project
* Commissioning activities commenced with good progress on remaining construction
activities
* Cummins Power Station commissioned with other mechanical and piping
installations well advanced
*
*
* Final approvals for direct seawater intake achieved during the quarter, further de-risking the projectBore field development for 25km seawater pipeline completed with sound resultsPeak manpower achieved during the quarter with +1,200 personnel on site
Operations
* Mineral resource upgraded to 9.91 Moz Measured and Indicated, plus 3.3 Moz
Inferred
* Measured and Indicated increase of 520,000 oz or 6%
* Drilling returned highly encouraging assay results in the northern half of the
Sukari Hill
* Open pit mining operations progressing well with owner operator mining fleet
* Underground mining contractor mobilisation and preliminary works commenced
*
*
*
* 14,264m of diamond drill ("DD") completed during the quarterContinued resource definition drilling to target Hapi, Amun Deeps and Pharaoh Zone with 8 drill rigsRegional Exploration continues - Detailed mapping and site preparation completed for Quartz Ridge; more high grade surface samples and shear zones identifiedSignificant intersections received for the quarter include:
D1431 - 17m @ 10.49g/t Au
D1432 - 97m @ 1.89g/t Au
D1434 - 19m @ 2.87g/t Au
D1435 - 43m @ 17.00g/t Au
D1440 - 14m @ 6.71g/t Au
D1446 - 70m @ 2.20g/t Au
D1450 - 25m @ 2.58g/t Au
Corporate
* Private placement raises gross proceeds of C$30M
Commenting on the quarterly report Josef El-Raghy, Managing Director/CEO of
Centamin, stated:
"We are pleased with the success of our first gold pour and remain committed to
ramping up to full production towards the end of 2009".
SUKARI GOLD PROJECT CONSTRUCTION
The first gold pour was achieved from the Sukari Gold Project on 26 June 2009.
Stage 1 construction and commissioning activities progressed well within the
quarter. Stage 1 and Stage 2 construction and commissioning activities will
continue throughout the next quarter.
Construction activities have focused on main power generation systems, plant
pipe installations, mechanical equipment installation, electrical controls and
the seawater pipeline. Peak workforce levels were achieved during the second
quarter with significant scopes of work awarded and progressed. Workforce
levels will continue at maximum capacity as Stage 1 construction activities are
completed and full commissioning of major plant components are achieved.
Progress pictures can be viewed on the Company's website - www.centamin.com.
Project Engineering and Design
As previously reported, MetPlant Engineering Services Pty Ltd, an Australian
based company, has completed engineering and design work for the Process Plant
and have handed over documentation in their native formats. Final arrangements
are being made to close off the design contract.
Piping engineering and design with SENET in South Africa continues to progress
well with Stage 1 rack piping design complete and all drawings received. Stage 2
final drawings are currently in progress.
Crusher & Conveyor Systems
Crusher area structural steel and mechanical installation is now complete with
commissioning of the crusher and lubrication units continuing. Conveyor belts
CV-01A and CV-01 have been spliced and installed successfully. PLC systems
checks are underway and commissioning is due for completion shortly.
Reclaim and Grinding Systems
Mill assembly progressed well through the quarter with all shell and head
segments installed and the Ball and SAG Mill ring gear, pinion and motors in
place with final alignment checks ongoing and continued commissioning in the
coming quarter. The apron feeders have been fully installed and commissioned
successfully.
All major steel requirements have been delivered to site. Installation of the
pebble crushing and handling facilities is now being focussed upon and is due
for completion in the middle of the next quarter.
CIL Circuit & Gold Recovery
CIL top of tank steel erection is well advanced and interconnecting launder
installation was finalised during the quarter. Tank agitators have been
assembled and installed.
Construction of the gold room has progressed well with the majority of
mechanical installations now in place on the first and ground floors. Partial
commissioning of the elution and strip areas of the gold room took place and
further commissioning activities are scheduled to occur in the forthcoming
quarter.
Reagents, Air & Water Services
Cyanide and caustic soda build continues and is due for completion in the
forthcoming quarter.
The air services building is approaching completion and all compressors and air
blowers have been installed mechanically. The RO plant is fully installed and
ready for commissioning.
Power Plant
Installation and commissioning of the Cummins (7MW) power station was finalised
following mechanical fit out of the generator sets and installation of cable
ladder.
Mechanical and piping installation has progressed in the MAK (28MW) power
station with mechanical installations practically complete for the diesel
systems. The focus at present is on engines 3 and 4 for the lube oil, cooling
water, air and diesel piping systems. Installation and commissioning of the
various systems for these engines to run on diesel is expected to take place in
the next quarter.
Building installation works are approaching completion with minor works and
external cladding in progress.Engine overhauls are well advanced and will be
completed early next quarter.
Fuel Farm tank installation is progressing well with three major tanks completed
and commissioned for use. The remaining tanks shall be completed early in the
next quarter. Piping of the tanks to the pump skids and pipe racks is
progressing well.
Site Buildings and Infrastructure
The major plant 20MVA power transformers were installed during the quarter. MCC
buildings have been established and completed at various locations.
Civil works and steel erection on the main pipe racks for Stage 1 were completed
during the quarter and services for underground piping installation were
finalised. Erection of steel framing and offices for the main warehouse building
were completed with minor works and fencing to be finalised. Commissioning of
the site laboratory is scheduled for early in the next quarter.
Tailings and Tailings Storage Facility ("TSF")
The thickener and cyanide process water tanks are fully installed, with steel
work and pump systems approaching completion.
Stage 1 of the TSF construction is approaching completion with minor works to be
finalised in the next quarter. The underdrainage and decant riser pipes have
been installed along with the final sections of high density polyethylene
("HDPE") Civil works for Stage 2 construction, which will provide two-years'
storage capacity, have also progressed well.
Seawater Supply System
During the quarter, the company received the final government approval for the
direct seawater intake pipeline. Mobilisation and installation works are
expected to commence in the next quarter with a targeted completion date toward
the end of 2009.
Water bore development, which was established whilst the approval process for
direct seawater intake was ongoing, is now complete, with sufficient successful
bores.
Mechanical installation of the 25km seawater supply system is complete with
testing of the tanks having taken place during the quarter. Electrical
installation of the overhead power lines along the length of the pipeline is now
in place. Transformers and MCC installation will be completed in the next
quarter to fully commission the pump stations.
(please refer to attached pdf to view picture)
Progress Picture 1: First Gold Pour
RESOURCE DEFINITION
Resource definition drilling continues to be successful in both conversion of
Inferred resources to Measured and Indicated and in global growth. Measured and
Indicated resources grew by 520,000 or approximately 6% to 9.91Moz, with 3.3Moz
of Inferred category at a 0.5g/t Au cut off grade (Table 1 & Figure 1).
Table 1 - Total Resource (July 2009)
+---------+---------+-------+--------+-------+--------+-------+-------+--------+-------+-------+
| | | | | | Total | | | |
+---------+---------+-------+--------+-------+------------------------+--------+-------+-------+
| | Measured | Indicated | Measured + | Inferred |
| | | | Indicated | |
+---------+-----------------+----------------+------------------------+------------------------+
|Cut-off | Tonnes |Grade |Tonnes |Grade |Tonnes |Grade | Gold |Tonnes |Grade | Gold |
+---------+---------+-------+--------+-------+--------+-------+-------+--------+-------+-------+
| g/t | (Mt) | (g/t | (Mt) | (g/t | (Mt) | (g/t |(Moz) | (Mt) | (g/t |(Moz) |
| Au | | Au) | | Au) | | Au) | | | Au) | |
+---------+---------+-------+--------+-------+--------+-------+-------+--------+-------+-------+
| 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
Resource growth at Sukari occurred in the south from 10450N to 10700N, testing
the Hapi Zone and Amun Deeps porphyry block. Mineralisation remains open greater
than 1.1km below wadi level and along strike to the north of 10700N where
drilling is currently focussed. In the Pharaoh Zone, significant resource
addition and conversion occurred from 11200N to 12000N where the Hapi, deeper
and west dipping Cleopatra style zones has been defined further along strike.
Mineralisation remains open and is also the target of intensive drilling (Figure
2).
High grade intersections in the estimate are primarily related to the Hapi and
deeper zones of mineralisation including (from the southern Amun Zone); 97m @
1.89g/t Au from 314m in hole RCD1432 on section 10475N and 19m @ 2.87g/t Au from
452m in D1434 on 10650N.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).
Details on these and other significant intersections are shown in Table 2 and
Figure 3.
(please refer to attached pdf to view figure 1)
Figure 1 - Sukari resource growth graph from April 1997 to July 2009
(please refer to attached pdf to view figure 2)
Figure 2 - Plan View of Porphyry with Upgraded Resource distribution and current
work areas
Table 2 - Significant high grade samples included in July 2009 Resource
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
| HOLE | NORTH | EAST |DIP |AZI | EOH | FROM | INTERVAL | GOLD |
| | | | | | (m) | (m) | (m) | (g/t) |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
|D1420* | 11275 |10835 |-80 |270 | 763.5 | 662 | 79 | 4.48 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
|D1423* | 11350 |10866 |-88 |270 | 644.8 | 542 | 47 | 2.85 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
|D1431* | 11400 |10850 |-83 |270 | 786.1 | 610 | 17 | 10.49 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
| D1431 | 11400 |10850 |-83 |270 | 786.1 | 641 | 55 | 3.48 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
| D1432 | 10475 |10784 |-73 |270 | 692.7 | 314 | 97 | 1.89 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
|D1435* | 11250 |10950 |-84 |270 | 584 | 499 | 43 | 17.00 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
| D1440 | 11300 |10883 |-83 |270 | 683.3 | 569 | 14 | 6.71 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
| D1446 | 11550 |10787 |-87 |270 | 753 | 636 | 70 | 2.20 |
+--------+--------+-------+-----+-----+--------+---------+------------+---------+
Intervals shown in the table are down hole intercepts, drilled at high angles
relative to the internal mineralized structures and the Sukari Porphyry.
(*Denotes previously announced 20 May 2009 & 14 July 2009)
(please refer to attached pdf to view figure 3)
Figure 3 - Long Section of Sukari Porphyry showing key intersections,
mineralised zones and drilling targets
EXPLORATION
During the quarter, resource definition drilling was concentrated in the
northern Pharaoh Zone, primarily targeting the Hapi Zone and deeper
mineralisation, but also upper parts of the porphyry; and in the far north; near
surface west dipping Cleopatra style zones (Figure 3). Some drilling also
occurred in the south of the Sukari porphyry from Wadi Fault, targeting the
Downthrust extension of the Amun Deeps porphyry block, and down dip and along
strike extensions of the Hapi Zone. Drilling will continue with eight rigs in
all of the above areas for the foreseeable future.
Amun and Ra Zones (10000 - 11200N)
Hole D1432 was drilled to infill the main porphyry block and Hapi Zone, test the
extent of the Amun Deeps porphyry block and the Downthrust Zone and successfully
intersected high grade mineralisation (97m @ 1.89g/t Au; 22m @ 1.11g/t and 6m @
2.73g/t). Hole D1434 was drilled further north on 10650N to infill around high
grade zones in previously reported holes D1416, RCD1417 and D1415 (March Quarter
2009) and successfully intersected the Amun Deeps (19m @ 2.87g/t Au) and
Downthrust Zones, in areas with little previous drilling (Figure 4). This has
provided encouragement to continue testing along strike north of 10700N where
current holes D1455 and 1463 (assays awaited) have recently intersected
significant blocks of mineralised porphyry.
(please refer to attached pdf to view figure 4)
Figure 4 - Section 10625N - Amun Zone
Pharaoh Zone (11200N - 12100N)
Most of the drilling during the quarter was focussed in the Pharaoh Zone,
targeting infill and along strike extension of the high grade Hapi Zone
mineralisation, deeper high grade zones at the base and contact of the main
porphyry to the sedimentary country rock package and more west-dipping
mineralisation in the far north (Figure 3).
Drilling continued to return strong intersections at the base of the porphyry
intrusion in the Hapi and deeper zones (Table 4). This correlated strongly with
previously recorded results along strike and up and down dip; and infilled
previously untested areas of the porphyry (Figure 5).
(please refer to attached pdf to view figure 5)
Figure 5: Section 11275 - D1420 has successfully tested to the footwall,
extending the porphyry dimensions and resource blocks and returned a high grade
intersection of 79m @ 4.48g/t Au from 662m
Holes such as D1435 (11250N - 43m @ 17.00g/t Au from 499m), D1440 (11300N - 14m
@ 6.71g/t Au from 569m), D1431 (11400N - 17m @ 10.49g/t Au from 610m and 55m @
3.48g/t Au from 641m), D1450 (11500N - 25m @ 2.58g/t Au from 655m) and D1446
(11550N - 25m @ 2.58g/t Au from 636m) prove the continuity and significance of
the Hapi and deeper zones (Figure 3 & 5), with the northwards continuation the
subject of ongoing drilling.
The coming quarter will see drilling continuing in the Pharaoh Zone north of
11600N to define the Hapi and deeper Zones along strike. In the Amun Zone,
drilling will continue to test the Amun Deeps, Downthrust and Hapi Zones north
of 10700N. Drilling access tracks are underway using drill and blast and
rock breakers to unlock the strong resource potential of the steepest parts of
the North West part of the hill, previously sparsely drilled due to the
challenging topography.
REGIONAL EXPLORATION
Regional exploration work focussed on detailed mapping and understanding the
Quartz Ridge prospect before drilling commences early in the coming quarter.
Drilling will target the sheared and mineralised south east dipping sheared and
altered contacts and east-west to NE striking Au mineralised quartz veins of an
altered, sheared felsic granodiorite intrusive body (Figure 6).
Wide spaced regional work continued to increase coverage of the mapping and
geochemistry.
(please refer to attached pdf to view figure 6)
Figure 6 - Quartz Ridge Prospect - Mapped Geology, surface Au Assays and
proposed drill holes
GRADE CONTROL
35,223m of reverse circulation ("RC") grade control ("GC") drilling from 2,310
holes was completed during the quarter in Stage 1 (Amun Zone) and 2 (Ra Zone) of
the "open pit" area (Figure 3) with a total of 28,302 samples being processed.
Drilling and mapping has shown high grade Au is associated with strongly sheared
and sericite-hematite altered porphyry; with stock works of extensional quartz
veins and sheared contacts with the hanging wall rocks. Correlations between the
resource model and grade control are strong, with mineralised controlling
structures showing up in the grade control and mapping well.
OPEN PIT MINING
Centamin conducts its open pit mining operations on an 'owner operator' basis.
Primary mining fleet includes ten CAT785C rear dump trucks and two O&K RH120E
excavators with additional mine support equipment in place. Atlas Copco
equipment is used to supply grade control and blast hole drilling equipment.
Mining and blasting operations have performed well since commencement of
blasting on 01 February 2009.
During the quarter, Stage 1 was advanced 21m vertically from the 1166mRL to the
1145RL; and the Stage 2 vertical advance was 24m from the 1208mRL with 50% of
the 1184mRL remaining at the end of the quarter.
A total of 1,157,305 bank cubic metre ("BCM") of material was mined during the
quarter with 352,885 tonnes of ore mined and delivered to the ROM pad for
processing. For the financial year, a total of 2,574,020 BCM of material has
been mined.
UNDERGROUND MINE DEVELOPMENT
Centamin announced on 03 April 2009 that it had issued a Letter of Intent to
Barminco for the immediate mobilisation of personnel and equipment, and
subsequent commencement of underground mining activities at the Sukari Gold
Project in Egypt.
Mobilisation of initial underground mining fleet and contractor personnel was
completed in June. Site works have commenced with electrical power line and
other support services being finalised ahead of portal construction and decline
development in the September 2009 quarter.
An initial underground mining rate of 500,000 tonnes per annum at a grade
between 5-10g/t Au is being targeted thus bringing higher grade ore feed into
production earlier than otherwise would have been scheduled through surface
mining at circa 2g/t. Full production from the underground is scheduled to be
achieved approximately 18 months after commencement of the decline.
PROCESSING & TREATMENT
First gold production was achieved at Sukari on 26 June 2009. The gold pour
produced an estimated 130 gold ounces (subject to final assay) and represents a
significant milestone for the Company and for Egypt, with the establishment of
the first modern gold mine in Egyptian history.
CORPORATE
On 02 April 2009, the Company announced it had entered into an agreement with
Macquarie Bank Limited ("MBL") to provide a corporate loan facility of up to
US$25 million. It is the Company's intention that development of the Sukari Gold
Project will be funded out of existing cash resources and internally generated
cash flow however the loan facility provides the Company with access to
additional funds at a low cost for future use, if required. The loan facility is
subject to final documentation and remains undrawn to date.
On 03 July 2009, the Company announced that it had attained subscriptions from
various North American resource focussed funds for a private placement of 19
million ordinary shares at an offering price of C$1.56 per share raising gross
proceeds of C$29.6M. Centamin Egypt Limited intends to use the net proceeds of
the offering for the continued exploration activities and general corporate
purposes.
The Company is currently debt free, unhedged and able to aggressively pursue
further exploration and development activities, including the underground
development of the high grade Amun Deeps zone.
SUKARI GOLD PROJECT (BACKGROUND)
Centamin is a mineral exploration and development company that has been actively
exploring in Egypt since 1995. The principal asset of Centamin is its interest
in the Sukari Gold Project, located in the Eastern Desert of Egypt. The Sukari
Gold Project is at an advanced stage of development, with construction having
commenced in the second quarter of 2007 and first gold bar having been poured on
26 June 2009. This milestone marked the commencement of production and
commissioning at the Sukari gold mine ahead of the commercial ramp up of
production, which is anticipated over the coming months.
A definitive feasibility study ("DFS") for the development to commercial
production of the Sukari Gold Project was completed in February 2007.
A summary of the findings of the DFS were:-
* the DFS concluded that a 4mpta plant producing on average 200,000 ounces per
annum, over 15 years of mining, is economically robust; and
* total Capital Construction costs are estimated at US$216m with average cash
operating costs of US$290/oz (inclusive of 3% royalty) over the 15 year mining
period. As at 30 June 2008, the Company is of the opinion that due to increased
commodities prices, project delays and currency movements since finalisation of
the DFS that the capital estimate is at risk by 20%. Average cash operating
costs have also been revalidated as at 30 June 2008 due the higher cost of
consumables, and are forecast to be US$365/oz.
The Sukari Gold Project will be the first large-scale modern gold mine to be
developed in Egypt. Centamin's operating experience in Egypt gives it a
significant first-mover advantage in acquiring and developing other gold
projects in the prospective Arabian-Nubian Shield.
The Sukari Gold Project is hosted by a large, sheeted vein-type and
brittle-ductile shear zone hosted gold deposit developed in a granitoid
intrusive complex. Gold mineralization is hosted exclusively by a granitoid body
of granodiorite - tonalite composition referred to as the Sukari Porphyry. The
Company has entered into a Concession Agreement with the Egyptian Government
that provides for exploration and exploitation rights at the Sukari Gold Project
and whereby the Operating Company, owned 50% by the Company's wholly owned
subsidiary, Pharaoh Gold Mines NL and 50% by Egyptian Mineral Resource Authority
("EMRA"), has been established. Centamin is entitled to recover all of its
exploration, operating and capital costs from operating surpluses of the
operating company.
The Sukari Mining Licence covers an area of 160 km2 and is for a period of 30
years, with an option for a further 30 years.
The Sukari Gold Project has been scheduled for open pit mining over an initial
15-year period. During that time 78 Mt ore @ 1.5 g/t Au is expected to be mined,
producing 3.7Moz gold. A further 374 Mt of waste material is also expected to be
mined resulting in a waste to ore strip ratio of 4.8:1.
Ore and waste will be mined using conventional open pit mining methods. The
operation is planned to utilize selective mining techniques to separate ore and
waste. Provision has been made for drilling and blasting all primary and oxide
materials. 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 the 4 Mtpa Process Plant throughput rate.
Mining will be progressed at an increased rate compared to processing;
approximately 5 Mt of ore is expected to be mined and 4 Mt of ore will be
processed annually. Operating at an increased mining rate allows the cut off
grade for feed to the Plant (referred to as "cutover" grade) to be increased in
the early years of the schedule. This in turn increases the metal output and
project revenue in these early years, thus increasing the discounted operating
surplus cashflow. According to current schedules, the low-grade stockpile
produced as a result of applying a cutover grade, will be processed after mining
has ceased, extending the current operating life of the project for a further
six years. As a result, the average milled grade during the mining period is
forecast to be 1.87 g/t Au, compared to 0.66 g/t Au for the low-grade stockpile.
Centamin will own and operate its mining fleet. The production fleet will be
based on 380 t class excavators and 150 t class rigid body trucks. At full
production, three production fleets, each comprising a single excavator and
sharing a maximum of 21 trucks, will be required. The capital cost of the
initial mining fleet has been estimated at US$49.3 million.
The proposed process route entails:-
* crushing;
* stockpiling crushed ore;
* grinding;
* flotation of a (bulk sulphide) concentrate containing the precious metals;
* thickening of the concentrate;
* fine milling of the concentrate;
* leaching the precious metals from the concentrate in a dilute cyanide solution;
* adsorbing the precious metals onto activated carbon;
* stripping the precious metals from the carbon;
* recovering the precious metals as gold doré; and
* placing the concentrate tailing in the tailings storage facility.
Tailings from the treatment of weathered oxide ore early in the mining schedule
contain too much gold to discard. Hence, the bulk flotation tail is further
treated by:-
* thickening;
* leaching the precious metals into a dilute cyanide solution;
* adsorbing the precious metals onto activated carbon;
* stripping the precious metals from the carbon;
* recovering the precious metals as gold doré; and
* placing these tailings in the tailings storage facility.
Process water will be drawn from a bore field located adjacent to the Red Sea.
The seawater will be pumped approximately 25 km to the mine site to satisfy all
Process Plant and mining requirements. Most of the seawater will be pumped into
a raw water pond located near the Processing Plant, whilst around 500m³/day will
be pumped to a Water Treatment Plant for potable and fresh water supplies.
Power will be generated on site by a 28 MW primary power station, operated on
heavy fuel oil. A modern camp facility was constructed to cater for
approximately 700 occupants. The camp currently houses approximately 550
occupants, with another 150 occupants being housed in the old exploration camp.
On behalf of Centamin Egypt Limited
Josef El-Raghy
Managing Director/CEO
31 July 2009
For more information please contact:
+-------------------+---------------------------------------+--------------------+
| Centamin Egypt | Buchanan Communications Limited | Ambrian Partners |
| Limited | + 44 (0) 207 7466 5000 | Limited |
| + 61 (8) 9316 | Ben Willey | + 44 (0) 207 7634 |
| 2640 | Bobby Morse | 4700 |
| Josef El-Raghy | | Richard Brown |
| www.centamin.com | | Richard Greenfield |
+-------------------+---------------------------------------+--------------------+
Quality Assurance and Control and Qualified Person
The information in this report that relates to ore reserves has been compiled by
Mr Tadek Wojtowicz and internally reviewed by Mr Andrew Pardey. Mr Pardey is a
Member of the Australasian Institute of Mining and Metallurgy and is a full time
employee of the Company. He has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity 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
the "National Instrument 43-101 of the Canadian Securities Administrators" and
"CIM Definition Standards For Mineral Resources and Mineral Reserves" of
December 2005 as prepared by the CIM Standing Committee on Reserve Definitions
of the Canadian Institute of Mining. Mr Pardey's 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 information in this report that relates to ore reserves has also been
independently verified by Mr Pieter Doelman, an employee of Coffey Mining Pty
Ltd Perth. Mr Doelman is a Member of the Australasian Institute of Mining and
Metallurgy and has sufficient experience, relevant to the style of
mineralisation and type of deposit under consideration and to the activity 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 the
"National Instrument 43-101 of the Canadian Securities Administrators" and the
"CIM Definition Standards For Mineral Resources and Mineral Reserves" of
December 2005 as prepared by the CIM Standing Committee on Reserve Definitions
of the Canadian Institute of Mining. Mr Doelman consents to the inclusion of
this estimate in reports.
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 independently 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.
.
Table 4 - Significant Intersections June 2009 Quarter
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| HOLE |NORTH | EAST |DIP |AZI | EOH |FROM | TO |INTERVAL |AUAR1 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
|RCD569 |11300 |10883 |-88 |270 | 629.7 | 473 |479 | 6 | 1.52 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 549 |550 | 1 | 128 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1428 |11375 |10880 |-83 |270 | 655 | 251 |283 | 32 | 1.25 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 574 |582 | 8 | 4.10 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 579 |580 | 1 | 22.7 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 592 |634 | 42 | 1.21 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 595 |596 | 1 | 8.3 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 605 |607 | 2 | 7.9 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1429 |11900 |10810 |-68 |270 | 563.7 | 414 |426 | 12 | 1.34 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 425 |426 | 1 | 7.10 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 453 |472 | 19 | 1.33 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 462 |463 | 1 | 6.64 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1430 |10650 |10820 |-74 |270 | 249.5 | 196 |207 | 11 | 1.19 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1431 |11400 |10850 |-83 |270 | 786.1 | 87 | 91 | 4 | 1.53 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 306 |319 | 13 | 1.42 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 311 |312 | 1 |10.40 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 601 |605 | 4 | 8.59 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 602 |603 | 1 | 24.1 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 610 |627 | 17 |10.49 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 624 |625 | 1 | 138 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 641 |696 | 55 | 3.48 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 678 |690 | 12 |10.20 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 680 |681 | 1 |34.90 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1432 |10475 |10784 |-73 |270 | 692.7 | 314 |411 | 97 | 1.89 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 350 |352 | 2 | 7.07 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 378 |380 | 2 | 7.68 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 388 |391 | 3 | 4.52 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 407 |408 | 1 | 8.24 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 417 |421 | 4 | 28.1 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 646 |647 | 1 | 6.36 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1434 |10650 |10820 |-74 |270 | 798.5 | 72 | 80 | 8 | 1.27 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 157 |169 | 12 | 1.83 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 452 |471 | 19 | 2.87 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 454 |458 | 4 | 5.10 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 647 |656 | 9 | 1.16 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1435 |11250 |10950 |-84 |270 | 584 | 73 | 77 | 4 | 3.98 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 76 | 77 | 1 | 11.2 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 85 | 97 | 12 | 1.14 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 246 |249 | 3 | 5.68 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 247 |248 | 1 | 15.8 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 340 |350 | 10 | 3.31 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 340 |341 | 1 | 14.1 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 499 |542 | 43 | 17.0 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 505 |506 | 1 | 22.9 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 525 |526 | 1 | 68.1 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 531 |533 | 2 | 279 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1436 |11950 |10828 |-65 |270 | 400 | 3 | 30 | 27 | 1.16 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 217 |230 | 13 | 1.01 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1438 |11475 |10770 |-80 |270 | 784.3 | 635 |702 | 67 | 1.05 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 635 |636 | 1 | 7.15 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1439 |12000 |10828 |-60 |270 | 463.6 | 2 | 31 | 29 | 1.55 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 17 | 18 | 1 | 9.51 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 52 | 62 | 10 | 1.22 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1440 |11300 |10883 |-83 |270 | 683.3 | 569 |583 | 14 | 6.71 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 575 |579 | 2 | 69.5 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1442 |11925 |10810 |-60 |270 | 563.5 | 3 | 29 | 26 | 1.55 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1443 |11250 |10871 |-80 |270 | 870.1 | 688 |704 | 16 | 1.09 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 734 |758 | 24 | 1.69 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 744 |745 | 1 | 7.78 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 775 |791 | 16 | 1.40 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1445 |11675 |10760 |-82 |270 | 821.5 | 0 | 12 | 12 | 2.01 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1446 |11550 |10787 |-87 |270 | 753 | 339 |346 | 7 | 2.26 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 340 |341 | 1 | 10.6 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 636 |706 | 70 | 2.20 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 642 |643 | 1 | 12.1 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 686 |688 | 2 | 8.55 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1447 |11900 |10816 |-82 |270 | 585 | 362 |372 | 10 | 1.28 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 486 |489 | 3 | 2.14 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1448 |12050 |10798 |-77 |270 |112.18 | 67 | 75 | 8 | 1.34 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 73 | 74 | 1 | 5.69 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1450 |11500 |10778 |-70 |270 | 730.4 | 634 |644 | 10 | 1.24 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 655 |680 | 25 | 2.58 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 672 |674 | 2 | 8.43 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1452 |11725 |10800 |-78 |270 | 668.2 | 630 |653 | 23 | 1.23 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 631 |632 | 1 | 5.11 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | | | | |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| D1453 |11500 |10885 |-82 |270 | 729.3 | 581 |591 | 10 | 1.30 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 623 |644 | 21 | 1.73 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | incl. | 642 |643 | 1 | 5.81 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
| | | | | | | 672 |687 | 15 | 2.69 |
+--------+-------+-------+-----+-----+--------+------+-----+----------+-------+
Note: 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
Please click on link below to see the full copy with pictures and site diagrams:
(LSE to inset link to PDF)
http://www.rns-pdf.londonstockexchange.com/rns/6550W_-2009-7-31.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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