Underground Update and Q3 Results Date (6065U)
19 Octubre 2010 - 1:10AM
UK Regulatory
TIDMCEY
RNS Number : 6065U
Centamin Egypt Limited
19 October 2010
Centamin Egypt Limited ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
SUKARI UNDERGROUND DEVELOPMENT REACHES
HIGH GRADE HAPI ZONE
ORE DRIVES COMMENCE
Q3 RESULTS DATE
Centamin, the gold mining group with operations in Egypt, is
pleased to announce its underground decline development has
intersected the high grade Hapi zone mineralisation as expected at
the 920 level of the mine, approximately 1190 m from the portal
entrance and at a vertical depth below surface of 180m.
The development of multiple ore drives to develop trial stopes
and position drilling equipment for definition drilling has now
commenced. Ground conditions in the ore drives are as anticipated,
and are very favourable. Additional equipment has successfully been
mobilised to site by the underground mining contractor, which
includes:
- an additional AD55 (55 tonne) Elphinstone articulated 4WD
haulage truck;
- an additional R2900G Elphinstone Bogger; and
- one Tamrock 7-7V Longhole Production Drill rig.
An Atlas Copco MCR diamond drill rig is in country and is
expected to be in Sukari during the course of October, whilst a
further AD55 haulage truck is scheduled for arrival in November,
which will complete the initial production mobilisation
programme.
One metre channel chip samples collected within the ore zone
confirm gold mineralisation, with grades ranging from 3.3g/t to
66g/t being encountered. Once sufficient ore development has taken
place, definition drilling will begin, with the determination of
the optimal underground mining method to be selected
thereafter.
Commenting on this key milestone of the development of the
Sukari underground mine, Josef El-Raghy, Chairman of Centamin,
said:
"Reaching the high grade Hapi Zone from our underground
development is an important contributor to Centamin's strategy to
increase our gold production from the current Sukari plant. The
initial sampling from underground is very encouraging and we look
forward to bringing Sukari's underground operations into commercial
production over the coming months. I would like to thank our
dedicated underground development team at Sukari and our
underground mining contractor Barminco for their commitment to
delivering the first stage safely, on budget and on time for what
we will believe will be a substantial and long term underground
mining operation."
Q3 Results Date
Centamin will announce its results for the quarter ended 30
September 2010 (Q3) on Wednesday, 03 November 2010. In order to
inform both the London and Toronto Stock Exchanges simultaneously,
the announcement will be screened via the Regulatory News Service
of the London Stock Exchange at 11am, and at 7am on Canada News
Wire on the Toronto Stock Exchange. A conference call for analysts
and investors with the Centamin management team will take place at
11.30am GMT / 7.30am Eastern Time on the day of the Q3 results.
Dial in details for the conference call will be announced at the
time of the Q3 results.
For Centamin Egypt Limited
Josef El-Raghy
Chairman
19 October 2010
For more information please contact:
Centamin Egypt Limited Buchanan Communications Limited
+ 203 5411 259 or + 61 8 9316 + 44 (0) 207 466 5000
2640 Bobby Morse
Josef El-Raghy Katharine Sutton
www.centamin.com
The information in this report that relates to ore reserves has
been compiled 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.
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.
All exploration and resource samples were analysed by Ultra
Trace Pty Ltd, Canning Vale, Western Australia. All mine based
production samples were analysed by Sukari Assay Laboratory,
Egypt.
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 ofmineralisation 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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