REG - Centamin PLC - Encouraging Maiden EDX Drill Results
09/01/2024 07:00
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RNS Number : 0061Z Centamin PLC 09 January 2024
9 January 2024
Centamin plc
("Centamin", "Group" or "the Company")
LSE: CEY / TSX: CEE
encouraging maiden edx drill results
Drilling intersects gold mineralisation near Sukari Gold Mine
Centamin announces the results of its maiden drill programme on the Company's
Eastern Desert Exploration ("EDX") landholding in Egypt and provides an update
on the anticipated exploration programme for 2024. The Company's EDX blocks
comprise 3,000km(2) of greenfield exploration tenements within Egypt's Nubian
Shield - a highly prospective geological belt which has not been explored
using modern exploration methods.
MARTIN HORGAN, CEO, commented: "Through the application of our systematic
approach to assessing the geological potential of our Egyptian exploration
portfolio, our team has delivered an encouraging set of maiden drill results
across several targets within the Nugrus block, which is adjacent to our
operating mine, the Sukari Gold Mine.
Supported by a pending new mining regulatory and fiscal regime, these results
underpin Egypt's emergence as an attractive exploration jurisdiction which
Centamin is uniquely positioned to leverage given our experience and long
standing position in-country.
We have an exciting work programme budgeted for 2024 which includes
delineating potential resources and further drill targets in Egypt as part of
our growth strategy, which has already increased pre-depletion Group reserves
by 3.5Moz over the last three years."
DRILL HIGHLIGHTS
Centamin completed a 16,216 metre ("m") reverse circulation ("RC") maiden
drill programme across eight targets on the Nugrus block which is located
adjacent to the Sukari Mining Concession. Significant drill intercepts
include:
· Little Sukari prospect (28km west of the Sukari Gold Mine):
§ 46m at 3.3 grams per tonne of gold ("g/t Au") from 91m downhole
§ 77m at 1.84 g/t Au from 44m
§ 69m at 2.01 g/t Au from 81m
§ 46m at 2.14 g/t Au from 116m
§ 29m at 2.71 g/t Au from 2m
· Umm Majal prospect (23km west of Sukari Gold Mine):
§ 18m at 2.33 g/t Au from 21m
§ 15m at 1.46 g/t Au from 4m
§ 8m at 2.67 g/t Au from 2m
§ 5m at 16.20 g/t Au from 44m
2024 Exploration programme
· Detailed geological mapping and ground geophysical (IP and
magnetics) surveys to be carried out over the Nugrus prospects, Little Sukari
and Umm Majal, in H1 2024.
· Up to 15,000 metres of RC and diamond core drilling budgeted for
follow up drill testing at Little Sukari and Umm Majal, alongside preliminary
metallurgical testing, a conceptual resource estimate and optimisation study
to steer ongoing drilling. This programme may be expanded to include first
pass drill testing of potential new Nugrus targets generated through ongoing
exploration fieldwork.
· Results-driven exploration programme on the Um Rus block to be
determined after receipt of the soil geochemistry results, expected in H1
2024.
· Bulk leach extractable gold ("BLEG") drainage sampling programme
commenced on the Najd block in late December 2023 and will be ongoing
throughout H1 2024.
· Generative exploration will continue across all the exploration
licences, including soil geochemistry, rock chip sampling over gold-in-soil
anomalies, and detailed geological mapping with the objective to identify new
drill targets.
PRINT-FRIENDLY VERSION OF THE ANNOUNCEMENT: LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
About Centamin
Centamin is an established gold producer, with premium listings on the London
Stock Exchange and Toronto Stock Exchange. The Company's flagship asset is the
Sukari Gold Mine ("Sukari"), Egypt's largest and first modern gold mine, as
well as one of the world's largest producing mines. Since production began in
2009 Sukari has produced over 5 million ounces of gold, and today has a
projected mine life to 2035.
Through its large portfolio of exploration assets in Egypt and West Africa,
Centamin is advancing an active pipeline of future growth prospects, including
the Doropo project in Côte d'Ivoire, and over 3,000km(2) of highly
prospective exploration ground in Egypt's Arabian Nubian Shield.
Centamin practices responsible mining activities, recognising its
responsibility to deliver operational and financial performance and create
lasting mutual benefit for all stakeholders through good corporate
citizenship.
FOR MORE INFORMATION please visit the website www.centamin.com
(http://www.centamin.com) or contact:
Centamin plc FTI Consulting
Alexandra Barter-Carse, Head of Corporate Communications Ben Brewerton / Sara Powell / Nick Hennis
investor@centaminplc.com (mailto:investor@centaminplc.com) +442037271000
centamin@fticonsulting.com (mailto:centamin@fticonsulting.com)
Eastern desert Exploration ("EDX"), Egypt
The EDX blocks comprise 3,000km(2) of highly prospective greenfield
exploration tenements and represents a significant landholding of
underexplored geological terrane. Based on remote sensing studies, including
mapping of artisanal mining sites, the interpretation of satellite imagery and
mineral mapping techniques, all three blocks of ground are considered to be
highly prospective.
Centamin's EDX blocks are divided into three exploration licenses:
1. Nugrus block is 1,086km(2) and adjacent to the Sukari Gold Mine
160km(2) mining concession
2. Um Rus block is 524km(2) and located 50km north of Sukari
3. Najd block is 1,374km(2) and located southeast of the former El Sid
gold mine.
Image 1: Centamin's Eastern Desert Exploration Licenses (Egypt) (LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
)
Nugrus BLOCK
Exploration activity commenced in Q2 2022 with priority given to Nugrus given
its proximity to the Sukari Mining Concession and consequent lowering of the
threshold of potential economic discovery due to the possibility of utilising
the Sukari processing infrastructure, subject to agreement with our local
partners, the Egyptian Mineral Resource Authority.
Since starting fieldwork, 741 BLEG samples, 18,257 soil samples and 3,066 rock
chip samples have been collected across the Nugrus block. This systematic
fieldwork initially delineated seven high priority drill targets for a maiden
drill testing programme which commenced in May 2023. An eighth target (Wadi
Marwah) was added mid-programme, following encouraging ongoing generative
exploration results.
Image 2: Nugrus 2023 - Maiden drill targets (LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
)
The maiden RC drill programme was completed in Q4 2023, having drilled 16,216
metres. Drill fences were spaced at approximately 50-150 metres and drillholes
at approximately 50-100 metres along the fences depending on target size and
accessibility.
The Little Sukari prospect returned the most encouraging results of the
programme. Zones of consistent gold mineralisation up to 30-60 metres wide
occur over a strike length of at least 250 metres and extend at least 230
metres downdip to a vertical depth of approximately 200 metres below
surface. Mineralisation remains open at depth.
Little Sukari derives its name from its geological and geochemical resemblance
to the Sukari deposit, with mineralisation developed in a geochemically
distinct granodioritic intrusive, emplaced in a shear zone that is developed
within an ophiolitic "melange" succession like the wider host sequence at
Sukari. The Little Sukari prospect is situated approximately 28km west of the
Sukari Gold Mine.
Image 3: Little Sukari - Plan view of 2023 drilling collars, gold
mineralisation outline and cross-section locations (LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
)
Image 4: Little Sukari - Cross-section LS270 - 5990 showing drill holes and
gold mineralisation (LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
)
Image 5: Little Sukari - Cross-section LS270 - 6080 showing drill holes and
gold mineralisation (LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
)
Image 6: Little Sukari - Cross-section LS270 - 6140 showing drill holes and
gold mineralisation (LINK
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.centamin.com%2Fmedia%2F3007%2Fcey-rns_edx-update_final_080124_website.pdf&data=05%7C02%7CAlexandra%40centaminplc.com%7C59aaeaab63c14e868df208dc105a2a98%7Ca02403da39374fe8917b48e08012a5e7%7C0%7C0%7C638403226934696440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=X7JGCUduyqSL1cPO7WmeGKdtjoAmDzHFx1iSGgNmuPk%3D&reserved=0)
)
The Umm Majal prospect is located 5 km southeast of Little Sukari. The gold
mineralisation is hosted in an altered granitoid that appears to be distinct
from the host rocks at Little Sukari, but occurs within a similar
ophiolitic-melange sequence. Mineralisation occurs over a strike length of
200-250 metres and the gold mineralised zone is up to 20 metres wide. Initial
shallow drill testing has demonstrated gold mineralisation up to 30-40 metres
below surface. No deep holes were drilled to test continuity at greater depths
and the mineralisation remains open downdip.
2024 work programme
Up to 15,000 metres of both RC and core drilling is planned for Little Sukari,
Umm Majal, and other nearby targets, starting in H1 2024 with results
expected before the end of the year. Ground based induced-potential and
magnetic geophysical surveying is planned to start in Q1 2024. A larger-scale
airborne geophysical surveying is under consideration during the cooler winter
months of 2024-2025 based on the successful proof of concept airborne
geophysical survey undertaken over the 160km(2) Sukari Concession during 2022.
Detailed mapping of prospective targets will continue alongside generative
exploration fieldwork throughout 2024.
Um Rus BLOCK
Exploration activities commenced in H2 2022 with systematic generative
fieldwork carried out with the aim of identifying justifiable drill targets.
Fieldwork comprised the collection of 302 BLEG samples, 2,700 soil samples,
and 69 rock grab and chip samples. Soil sampling blocks were identified
through BLEG anomalism, the occurrence of artisanal mining and favourable
lithology and structure. This first phase of work was completed in December
2023. Soil geochemistry results are expected in early 2024 with follow up
work, including drill testing of justifiable drill targets, to commence during
2024.
2024 work programme
Soil sampling based on the interpretation of earlier BLEG survey results was
completed at the end of the 2023. Full results are expected during Q1 2024
with follow up generative exploration fieldwork to continue throughout 2024
leading to drill testing justifiable targets that may emerge.
NajD BLOCK
During Q4 2023 a field camp was set up in the Najd block, and by late December
2023, a BLEG sampling programme had been initiated. The programme was designed
based on a blend of geomorphological and lithostructural interpretation,
spectral and alteration mapping, and the identification of artisanal mining
sites, all of which were derived from satellite imagery.
2024 work programme
BLEG sampling will be carried out through Q1 2024. A follow up exploration
programme will be driven by the results of the BLEG survey.
Model mining exploitation agreement ("MMEA")
The MMEA was agreed in principle in 2023, as the investment framework that
will apply to commercial discoveries within Centamin's three EDX exploration
blocks and will take effect once signed and the Egyptian parliamentary
approval is granted. This is anticipated during H1 2024 with exploration work
progressing in parallel (link to original announcement here
(https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4355862&lang=en-GB&companycode=au-cey&v=)
).
Under the MMEA, exploitation licenses will be issued for a 30-year stabilised
fiscal and legal regime, including:
· 5% government net smelter royalty on revenue
· 22.5% corporate tax rate
· 15% government financial net profit interest (on post tax income)
· 0.5% community development contribution, and
· Life of mine commitments towards local employment, training and
procurement.
Significant drill intercepts (>2 metres width)
Tenement ID Prospect ID Hole ID From To Interval (m) Grade
(m)
(m)
(g/t Au)
Nugrus Block Ambaud North ANRC002 47 49 2 2.63
Nugrus Block Ambaud North ANRC002 121 125 4 0.68
Nugrus Block Ambaud North ANRC003 70 75 5 1.28
Nugrus Block Ambaud North ANRC003 86 92 6 0.75
Nugrus Block Ambaud North ANRC004 38 41 3 3.47
Nugrus Block Ambaud North ANRC004 52 54 2 2.04
Nugrus Block Ambaud North ANRC005 125 127 2 2.28
Nugrus Block Ambaud North ANRC005 134 137 3 1.04
Nugrus Block Ambaud North ANRC006 49 51 2 1.99
Nugrus Block Ambaud North ANRC006 166 168 2 3.65
Nugrus Block Ambaud North ANRC007 95 97 2 3.94
Nugrus Block including 96 97 1 7.36
Nugrus Block Ambaud South ASRC004 15 17 2 3.3
Nugrus Block Ambaud South ASRC007 80 82 2 1.51
Nugrus Block Ambaud South ASRC009 91 93 2 8.12
Nugrus Block including 92 93 1 14.5
Nugrus Block Ambaud South ASRC009 98 100 2 4.47
Nugrus Block including 99 100 1 8.31
Nugrus Block Ambaud South ASRC010 30 36 6 6.49
Nugrus Block including 31 32 1 28.8
Nugrus Block including 33 34 1 6.14
Nugrus Block Ambaud South ASRC010 108 111 3 0.58
Nugrus Block Ambaud South ASRC011 81 83 2 1.93
Nugrus Block Ambaud South ASRC011 97 100 3 0.65
Nugrus Block Jebel Rabdi JRRC004 93 95 2 12.6
Nugrus Block Jebel Rabdi JRRC015 160 162 2 0.68
Nugrus Block Little Sukari LSRC003 104 106 2 0.87
Nugrus Block Little Sukari LSRC003 156 159 3 3.02
Nugrus Block Little Sukari LSRC004 1 4 3 0.55
Nugrus Block Little Sukari LSRC004 11 30 19 1.48
Nugrus Block including 23 24 1 5.19
Nugrus Block Little Sukari LSRC004 89 96 7 3.45
Nugrus Block including 89 92 3 5.98
Nugrus Block Little Sukari LSRC005 21 23 2 1.15
Nugrus Block Little Sukari LSRC005 32 34 2 0.97
Nugrus Block Little Sukari LSRC005 46 54 8 1.01
Nugrus Block Little Sukari LSRC005 67 70 3 1.17
Nugrus Block Little Sukari LSRC005 81 95 14 1.37
Nugrus Block Little Sukari LSRC005 126 128 2 1.75
Nugrus Block Little Sukari LSRC005 154 156 2 1.99
Nugrus Block Little Sukari LSRC006 6 23 17 1.53
Nugrus Block including 6 7 1 6.17
Nugrus Block Little Sukari LSRC006 99 121 22 1.27
Nugrus Block Little Sukari LSRC007 63 90 27 1.79
Nugrus Block including 63 64 1 10.35
Nugrus Block including 67 68 1 5.26
Nugrus Block including 82 83 1 9.92
Nugrus Block Little Sukari LSRC007 101 108 7 1.53
Nugrus Block Little Sukari LSRC007 115 119 4 0.59
Nugrus Block Little Sukari LSRC007 123 125 2 1.26
Nugrus Block Little Sukari LSRC007 177 180 3 1.73
Nugrus Block Little Sukari LSRC008 45 52 7 0.91
Nugrus Block Little Sukari LSRC008 111 116 5 0.75
Nugrus Block Little Sukari LSRC008 135 170 35 0.9
Nugrus Block Little Sukari LSRC009 22 24 2 1.21
Nugrus Block Little Sukari LSRC009 50 52 2 1.03
Nugrus Block Little Sukari LSRC009 62 69 7 0.89
Nugrus Block Little Sukari LSRC009 74 77 3 1.06
Nugrus Block Little Sukari LSRC009 81 150 69 2.01
Nugrus Block including 143 144 1 5.19
Nugrus Block Little Sukari LSRC010 2 31 29 2.71
Nugrus Block including 6 7 1 36.7
Nugrus Block Little Sukari LSRC010 39 60 21 1.36
Nugrus Block Little Sukari LSRC010 66 75 9 1.13
Nugrus Block Little Sukari LSRC011 2 26 24 1.08
Nugrus Block Little Sukari LSRC012 15 17 2 0.9
Nugrus Block Little Sukari LSRC012 44 121 77 1.84
Nugrus Block including 69 70 1 5.2
Nugrus Block including 87 88 1 8.26
Nugrus Block Little Sukari LSRC012 132 148 16 1.04
Nugrus Block Little Sukari LSRC013 133 135 2 2.43
Nugrus Block Little Sukari LSRC018 162 185 23 1.42
Nugrus Block Little Sukari LSRC019 116 162 46 2.14
Nugrus Block including 144 146 2 15.62
Nugrus Block including 148 149 1 5.95
Nugrus Block including 159 161 2 6.28
Nugrus Block Little Sukari LSRC021 113 145 32 1.89
Nugrus Block Little Sukari LSRC021 159 164 5 1.11
Nugrus Block Little Sukari LSRC022 26 37 11 1.43
Nugrus Block Little Sukari LSRC022 82 84 2 0.94
Nugrus Block Little Sukari LSRC022 93 95 2 2.24
Nugrus Block Little Sukari LSRC022 106 109 3 1.31
Nugrus Block Little Sukari LSRC023 190 192 2 0.71
Nugrus Block Little Sukari LSRC023 207 235 28 1.76
Nugrus Block Little Sukari LSRC024 133 146 13 1.82
Nugrus Block Little Sukari LSRC024 169 172 3 1.11
Nugrus Block Little Sukari LSRC025 70 72 2 1.16
Nugrus Block Little Sukari LSRC025 103 122 19 2.84
Nugrus Block including 105 106 1 9.33
Nugrus Block including 109 110 1 6.45
Nugrus Block including 111 112 1 6.21
Nugrus Block Little Sukari LSRC026 1 29 28 1.78
Nugrus Block Little Sukari LSRC026 33 35 2 2.2
Nugrus Block Little Sukari LSRC026 39 50 11 0.77
Nugrus Block Little Sukari LSRC026 108 114 6 1.6
Nugrus Block Little Sukari LSRC027 3 8 5 0.75
Nugrus Block Little Sukari LSRC027 60 66 6 0.86
Nugrus Block Little Sukari LSRC027 76 80 4 2.53
Nugrus Block including 78 79 1 7.45
Nugrus Block Little Sukari LSRC027 95 98 3 1.27
Nugrus Block Little Sukari LSRC029 121 125 4 1.92
Nugrus Block Little Sukari LSRC030 53 55 2 47.35
Nugrus Block including 53 54 1 60.1
Nugrus Block including 54 55 1 34.6
Nugrus Block Little Sukari LSRC030 83 86 3 2.24
Nugrus Block Little Sukari LSRC030 91 137 46 3.3
Nugrus Block including 93 95 2 46.35
Nugrus Block including 111 112 1 7.37
Nugrus Block Little Sukari LSRC030 144 165 21 1.14
Nugrus Block Little Sukari LSRC030 172 184 12 1.84
Nugrus Block including 178 179 1 5.1
Nugrus Block Little Sukari LSRC030 200 225 25 1.07
Nugrus Block Little Sukari LSRC030 230 232 2 5.42
Nugrus Block including 230 231 1 9.91
Nugrus Block Little Sukari LSRC031 197 206 9 2.14
Nugrus Block including 199 200 1 5.31
Nugrus Block Little Sukari LSRC031 236 245 9 2.59
Nugrus Block including 238 239 1 13.3
Nugrus Block Little Sukari LSRC032 125 163 38 1.84
Nugrus Block including 161 162 1 6.86
Nugrus Block Little Sukari LSRC032 204 207 3 0.97
Nugrus Block Little Sukari LSRC033 163 165 2 0.95
Nugrus Block Little Sukari LSRC033 171 186 15 1.19
Nugrus Block Little Sukari LSRC033 236 240 4 1.05
Nugrus Block Little Sukari LSRC034 197 218 21 1.4
Nugrus Block Little Sukari LSRC034 227 230 3 10.82
Nugrus Block including 229 230 1 9.58
Nugrus Block Umm Majal UMRC001 47 55 8 0.78
Nugrus Block Umm Majal UMRC001 62 69 7 1.54
Nugrus Block including 68 69 1 5.67
Nugrus Block Umm Majal UMRC001 76 78 2 3.13
Nugrus Block including 76 77 1 5.46
Nugrus Block Umm Majal UMRC002 2 10 8 2.67
Nugrus Block including 7 8 1 7.89
Nugrus Block Umm Majal UMRC002 29 40 11 0.59
Nugrus Block Umm Majal UMRC002 55 57 2 0.79
Nugrus Block Umm Majal UMRC003 4 19 15 1.46
Nugrus Block including 16 18 2 5.87
Nugrus Block Umm Majal UMRC003 24 33 9 0.82
Nugrus Block Umm Majal UMRC004 27 29 2 0.8
Nugrus Block Umm Majal UMRC005 21 29 8 1.25
Nugrus Block Umm Majal UMRC006 21 39 18 2.33
Nugrus Block Umm Majal UMRC006 49 55 6 1.12
Nugrus Block Umm Majal UMRC006 73 76 3 1.31
Nugrus Block Umm Majal UMRC007 5 23 18 0.96
Nugrus Block Umm Majal UMRC007 30 38 8 0.67
Nugrus Block Umm Majal UMRC008 47 50 3 0.74
Nugrus Block Umm Majal UMRC009 8 10 2 1.11
Nugrus Block Umm Majal UMRC009 71 77 6 1.2
Nugrus Block Umm Majal UMRC009 93 95 2 1.24
Nugrus Block Umm Majal UMRC009 100 107 7 0.84
Nugrus Block Umm Majal UMRC010 7 20 13 1.13
Nugrus Block Umm Majal UMRC010 30 34 4 1.31
Nugrus Block Umm Majal UMRC010 50 54 4 1.71
Nugrus Block Umm Majal UMRC011 44 49 5 16.2
Nugrus Block including 45 46 1 5.48
Nugrus Block including 48 49 1 80.9
Nugrus Block Umm Majal UMRC012 11 16 5 2.12
Nugrus Block Umm Shaw USRC001 61 63 2 2.01
Nugrus Block Umm Shaw USRC001 93 98 5 1.85
Nugrus Block Umm Shaw USRC002 92 98 6 2.78
Nugrus Block Umm Shaw including 93 94 1 7.41
Nugrus Block Umm Shaw USRC002 130 135 5 1.34
Nugrus Block Umm Shaw USRC004 40 42 2 0.91
Nugrus Block Umm Shaw USRC004 61 67 6 1.68
Nugrus Block Umm Shaw USRC006 67 69 2 14.58
Nugrus Block Umm Shaw including 67 68 1 27.3
Nugrus Block Wadi Kiribi KBRC002 0 7 7 0.5
Nugrus Block Wadi Kiribi KBRC004 23 25 2 6.41
Nugrus Block including 24 25 1 9.12
Nugrus Block Wadi Kiribi KBRC004 68 71 3 4.29
Nugrus Block including 70 71 1 11.45
Nugrus Block Wadi Marwah WMRC007 117 119 2 1.08
Nugrus Block Wadi Marwah WMRC007 183 185 2 0.57
Nugrus Block Wadi Marwah WMRC008 132 134 2 1.14
Nugrus Block Wadi Marwah WMRC009 0 2 2 0.99
Nugrus Block Wadi Marwah WMRC010 1 7 6 2.27
Nugrus Block including 6 7 1 6.5
Nugrus Block Wadi Marwah WMRC011 8 16 8 2.07
Nugrus Block Wadi Marwah WMRC011 49 55 6 0.79
Nugrus Block Wadi Marwah WMRC013 13 28 15 0.72
Nugrus Block Wadi Marwah WMRC014 31 35 4 1.46
Nugrus Block Wadi Marwah WMRC015 5 7 2 1.02
ENDNOTES
Sampling and analysis
RC samples are collected at one-metre intervals, split using a three-tier
riffle splitter and weighed, bagged, and labelled at the drill site.
All samples are submitted to ALS Minerals, a subsidiary of ALS Global. Sample
preparation takes place at their laboratory in Marsa Alam. All samples are
crushed to 70% passing -2 mm and then pulverised to 85% passing -75 µm.
Barren quartz washes are passed through all crushing equipment at the start of
every shift, between batches of samples, and every 20 samples during sample
crushing. Pulverising equipment is subjected to a barren quartz wash at the
start of every shift, between sample batches, every ten samples during sample
milling, as well as when mill pucks are changed.
ALS Minerals then transport the samples to their analytical laboratory in
Loughrea, Ireland for analysis by 50 grams fire assay with an ICP-AES finish.
The chain of custodianship is maintained throughout the shipping process.
Samples returning values over 10 g/t gold are re-assayed gravimetrically.
Quality Assurance and Quality Control
Check samples including uncertified blank samples, certified reference
materials ("standards"), and field duplicate samples were inserted into the
sample stream at a rate of 5 % each for a total of 15 check samples per 100
samples sent to the laboratory.
All assay results, including check sample results, are subject to standard QC
before being captured into a Centamin-administered database.
Calculation of intercepts
Significant intercepts reported are calculated with minimum downhole lengths
of two-metres using a cut-off grade of 0.5 g/t Au and including up to four
consecutive metres of internal dilution. No top cuts are used. Internal
intervals >5 g/t Au that occur within broader intercepts are reported
separately as included intervals.
Mineralised intercepts are not true widths, but are presented as drilled, in
other words, as apparent mineralised widths in the drill hole.
Qualified Person
Information of a scientific or technical nature in this document was prepared
under the supervision of Qualified Person, Howard Bills, Head of Exploration
at Centamin plc, for the exploration results.
The Qualified Person is an employee of the Company and is not independent of
the issuer applying the test set out in Section 1.5 of NI 43-101.
Standards of Disclosure for Mineral Projects of the Canadian Securities
Administrators.
The Qualified Person has 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.
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. Such statements include "future-oriented financial information"
or "financial outlook" with respect to prospective financial performance,
financial position, EBITDA, cash flows and other financial metrics that are
based on assumptions about future economic conditions and courses of action.
Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as "believes", "expects", "expected",
"budgeted", "forecasts" and "anticipates"." and include production outlook,
operating schedules, production profiles, expansion and expansion plans,
efficiency gains, production and cost guidance, capital expenditure outlook,
exploration spend and other mine plans. 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. Financial outlook and future-ordinated financial
information contained in this news release is based on assumptions about
future events, including economic conditions and proposed courses of action,
based on management's assessment of the relevant information currently
available. Readers are cautioned that any such financial outlook or
future-ordinated financial information contained or referenced herein may not
be appropriate and should not be used for purposes other than those for which
it is disclosed herein. The Company and its management believe that the
prospective financial information has been prepared on a reasonable basis,
reflecting management's best estimates and judgments at the date hereof, and
represent, to the best of management's knowledge and opinion, the Company's
expected course of action. However, because this information is highly
subjective, it should not be relied on as necessarily indicative of future
results. 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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