TIDMCEY
RNS Number : 6705M
Centamin PLC
23 September 2021
23 September 2021
Centamin plc
("Centamin" or "the Company")
LSE: CEY / TSX: CEE
Geology at the core of our business
Martin Horgan, CEO, commented: "Today we are setting out our
approach to the geological management of Centamin's assets and how
this underpins our vision of becoming a multi-asset gold producer.
Our focused geology campaign over the last 12 months, led by a
revitalised geological leadership team, has highlighted the
tremendous opportunities in the business and potential in our
assets. We believe we can deliver an additional 3Moz of reserves
through organic growth over the next 24 months, including extending
the Sukari underground life of mine to 10 years."
Centamin is hosting a virtual capital markets webcast today,
Thursday 23 September 2021, for investors and analysts. The event
will be hosted by Martin Horgan, CEO, Craig Barker, Group Mineral
Resource Manager, and Howard Bills, Head of Exploration, with the
presentation starting at 10.00 am BST (UK time). Martin, Craig and
Howard will deliver a technical presentation focusing on Centamin's
approach to geology and exploration, framing the embedded growth
opportunities within the business.
HIGHLIGHTS
-- An integrated pipeline of identified organic growth
opportunities targeting an additional 3Moz in Group Mineral
Reserves by 2024
-- Value-driven and focused approach to geology at the Company's
flagship asset, Sukari Gold Mine, targeting underground life of
mine extension to 10 years by 2024
-- Best-in-class geological leadership team established and delivering results
-- First mover advantage in Egypt - two-year exploration
programme scheduled from Q1 2022 with targets generated across
+3,000km(2) new exploration ground in Egypt's highly prospective
Arabian Nubian Shield
-- Doropo Project (C ô te d'Ivoire) pre-feasibility study
underway and on track for completion mid-2022
-- Delivering operational consistency at Sukari by improving the
resource to mill ounce reconciliation to +/-10% by 2024
-- Doubled the gold Mineral Resource at the Company's greenfield
ABC Project (C ô te d'Ivoire) to 2.16Moz @ 0.93 g/t Inferred
-- Disciplined investment for long term sustainability,
budgeting US$38 million exploration spend in 2021 and US$40-45
million in 2022
WEBCAST
The event will start at 10.00 am BST and, including a Q&A
session, is expected to end no later than 12.00 pm BST.
Event access: To join the webcast:
https://webcasting.brrmedia.co.uk/broadcast/612e5ff612f0cb436ea6856e
. Please allow a few minutes to register.
A recording of the event and presentation material will be
available on the Company's website shortly after the webcast has
concluded.
Questions: During the live event, there is a tab where investors
can submit questions. Should any questions arise after the event or
while watching the replay, please email investor@centaminplc. com
.
FOR MORE INFORMATION please visit the website www.centamin.com or contact:
Centamin plc Buchanan
Alexandra Barter-Carse, Corporate Communications Bobby Morse/ Ariadna Peretz/
+44 (0) 7700 713 738 James Husband
investor@centaminplc. com + 44 (0) 20 7466 5000
centamin@buchanan.uk.com
ABC Project (cÔte d'ivoire) MINERAL RESOURCE ESTIMATE
The 2020 drilling programme increased overall ABC Mineral
Resources by nearly 100% (contained metal) above a cut-off of
0.5g/t Au to 2.16Moz Inferred compared with 1.15Moz in the December
2019 Mineral Resource estimate reported in March 2020. This
increase directly resulted from the recent drilling programme
defining significant mineralised volume additional to the Kona
South prospect estimated in 2019, now known as Kona Central.
The Mineral Resource data presented in the table included in
this document comprise a summary extract for the Mineral Resource
reports for the Group's ABC Project properties in Cote d'Ivoire
only. For comparative purposes, data for 2020 has been included
where possible. Numbers have been rounded, and therefore there may
be small differences in the totals. Varying cut-off grades have
been clearly stated.
The Mineral Resources are reported according to the Canadian
Institute of Mining Metallurgy and Petroleum (CIM) 2014 Definition
Standards for Mineral Resources & Mineral Reserves and the CIM
2019 Estimation of Mineral Resources & Mineral Reserves Best
Practice Guidelines.
2021 2020
Category Tonnage Grade Gold Tonnage Grade Gold
Content Content
(Moz) (Moz)
================ =========== ========= =========
(Mt) (g/t) (Mt) (g/t)
================ =========== ======== ====== ========= ======== ====== =========
ABC PROSPECT Measured - - - - - -
0.5g/t cut-off
grade Indicated - - - 20 1.03 0.65
=========== ======== ====== ========= ======== ====== =========
M+I - - - 20 1.03 0.65
============================ ======== ====== ========= ======== ====== =========
Inferred 72 0.93 2.16 16 0.9 0.5
RESOURCE NOTES
ABC Project
-- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability
-- The ABC Resource estimate comprises two deposits - Kona South & Kona Central
-- Drill spacing is a nominal 50 x 50 x 1 metre spacing
-- Reverse Circulation and Diamond drilling only has been used for the estimation
-- The grade estimation has been undertaken using Ordinary
Kriging and Localised Uniform Conditioning methodologies
-- At Kona Central, a categorical Indicator Kriging (at a 0.25
g/t Au threshold) has been used to define internal ore and waste
domains
-- The grade estimate has been classified as Inferred in
accordance with the CIM 2014 guidelines
-- The Updated Mineral Resource has been reported at an economic
cut-off grade of 0.5g/t, 250m below surface and within 100 metres
of the nearest sample
-- This Updated Mineral Resources Estimate was prepared by Mr.
Patrick Adams of Cube Consulting Pty Ltd who represents the
Qualified Person for the estimate
-- This Updated Mineral Resources Estimate is not expected to be
materially affected by environmental, permitting, legal title,
taxation, socio-political, marketing or other relevant issues.
The ABC resource data sets include Reverse Circulation and
Diamond drill data with gold estimates based on 50-gram Fire Assay
analysis completed at Bureau Veritas Mineral Laboratories,
Abidjan.
Qualified persons
A "Qualified Person" is as defined by the National Instrument
43-101 of the Canadian Securities Administrators. The named
Qualified Person(s) have verified the data disclosed, including
sampling, analytical, and test data underlying the information or
opinions contained in this announcement in accordance with
standards appropriate to their qualifications. Each Qualified
Person consents to the inclusion of the information in this
document in the form and context in which it appears.
Information of a scientific or technical nature in this
document, including but not limited to the Mineral Resource
estimates, was prepared by and under the supervision of the Group
Qualified Persons, Howard Bills, Group Exploration Manager, and
Craig Barker, Group Mineral Resource Manager, and Patrick Adams,
the independent Qualified Person from Cube Consulting Pty Ltd. All
are geoscientists and fulfil the requirements of being a "Qualified
Person(s)" under the CIM Definition Standards.
Investors should be aware that the figures stated are estimates
and no assurances can be given that the stated quantities of metal
will be produced.
Mineral Resource Estimates contained in this document are based
on available data as at 31 July 2021.
NOTES
Guidance
The Company actively monitors the developments of the COVID-19
pandemic and guidance may be impacted if the workforce or operation
are disrupted.
Forward-looking Statements
This announcement (including information incorporated by
reference) contains "forward-looking statements" and
"forward-looking information" under applicable securities laws
(collectively, "forward-looking statements"), including statements
with respect to future financial or operating performance.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "believes",
"expects", "expected", "budgeted", "forecasts" and "anticipates".
Although Centamin believes that the expectations reflected in such
forward-looking statements are reasonable, Centamin can give no
assurance that such expectations will prove to be correct.
Forward-looking statements are prospective in nature and are not
based on historical facts, but rather on current expectations and
projections of the management of Centamin about future events and
are therefore subject to known and unknown risks and uncertainties
which could cause actual results to differ materially from the
future results expressed or implied by the forward-looking
statements. In addition, there are a number of factors that could
cause actual results, performance, achievements or developments to
differ materially from those expressed or implied by such
forward-looking statements; the risks and uncertainties associated
with the ongoing impacts of COVID-19 or other pandemic, general
business, economic, competitive, political and social
uncertainties; the results of exploration activities and
feasibility studies; assumptions in economic evaluations which
prove to be inaccurate; currency fluctuations; changes in project
parameters; future prices of gold and other metals; possible
variations of ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; climatic
conditions; political instability; decisions and regulatory changes
enacted by governmental authorities; delays in obtaining approvals
or financing or completing development or construction activities;
and discovery of archaeological ruins. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information or statements, particularly in
light of the current economic climate and the significant
volatility, uncertainty and disruption caused by the outbreak of
COVID-19. Forward-looking statements contained herein are made as
of the date of this announcement and the Company disclaims any
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise.
Accordingly, readers should not place undue reliance on
forward-looking statements.
LEI: 213800PDI9G7OUKLPV84
Company No: 109180
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