REG - Centamin PLC - Group Exploration Update
07/07/2022 07:17
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RNS Number : 5988R Centamin PLC 07 July 2022
7 July 2022
Centamin plc
("Centamin", "Group" or "the Company")
LSE: CEY / TSX: CEE
Group Exploration Update
confirming growth potential across the portfolio
Centamin announces an update summarising progress on the ongoing exploration
initiatives across it's prospective portfolio in Egypt and West Africa. The
work completed so far this year has successfully identified the potential for
satellite open pit ore sources within the Sukari concession and extensions of
the Sukari underground orebody, inclusive of high grade Bonanza zones.
MARTIN HORGAN, CEO, commented: "The team at Sukari continues to deliver
excellent results which demonstrate the quality of our portfolio - positive
drill results have demonstrated the upside potential in the orebody that can
support both life of mine extensions and an increase in underground production
. Across the broader concession we identified shallow satellite surface
targets, potentially adding growth and operational flexibility to our mine
plan, and completed the first airborne geophysical survey in Egypt - a
milestone for Centamin and Egypt's hard rock sector.
We also made excellent progress across our organic pipeline of projects that
offer growth and diversification. The Pre-feasibility Study at Doropo
progressed well with drilling focussed on both converting existing Inferred
Resources to Indicated Resources and testing newly identified growth
targets. During Q2, field work commenced in our highly prospective Eastern
Desert exploration licences. With over 20 years of operating history in Egypt,
Centamin is uniquely positioned to deliver the significant potential of the
licences in the most cost-effective way."
HIGHLIGHTS
· Sukari underground drilling. The underground exploration
programme at Sukari continued to support our strategy of delineating the full
potential of the underground orebody to deliver both mine life extension and
operational expansion. Drilling was completed across all areas of the
underground, including at Horus Deeps where drilling intersected the
highest-grade mineralisation in that zone to date. Horus Deeps remains open to
the north, south and down dip and represents the long-term future of the
operation. Notable drill results include:
· Horus Deeps - 54m at 15.1g/t Au, including 3.8m at 161g/t Au and
2.15m at 44.84g/t Au
· Ptah - 23m at 7.2g/t Au, including 2m at 14.29g/t Au and 6m at
17.72g/t Au
· Amun - 17m at 9.6g/t Au, including 1m at 136g/t Au
· Amun - 8.5m at 7.6g/t Au, including 1m at 52.8g/t Au
· Sukari Bonanza zones. The Bast area between Ptah and Amun
continues to return high grade underground zones of Bonanza style
mineralisation. Drilling in this area, demonstrates a consistent geological
host within 100m of existing infrastructure which could improve underground
operational flexibility through the development of a new high-grade mining
area in the near-term. Drilling highlights include:
· 10m at 64g/t Au, including 2m at 199g/t Au
· 4.5m at 267g/t Au, including 4m at 301.29g/t Au
· 17m at 12.5g/t Au, including 2.5m at 6.84g/t Au and 4m at
47.09g/t Au
· Sukari surface exploration. An exploration programme has
identified multiple shallow open pit gold satellite targets within the mining
concession which have the potential to supplement Sukari mill feed, in the
short to medium term, improving operational flexibility. Initial drill results
from two of the newly identified areas include:
· Wadi Alam - 22m at 2.9g/t Au from 41m
· V Shear East 10m at 2.9g/t Au from 41m
· Eastern Desert Exploration ("EDX"). Fieldwork has commenced with
a systematic exploration approach aimed at identifying and prioritising
commercial scale opportunities. EDX covers 3,000km2 of highly prospective and
under explored land across three blocks. Six high priority targets already
identified within the Nugrus block will be subject to geological sampling and
mapping, ahead of drill testing at the earliest opportunity. These priority
targets contain in excess of 20km of alluvial artisanal workings and over 300
hard rock artisanal sites
· West Africa. Work continues towards delivery of the Doropo
pre-feasibility study by the end of 2022. Drilling has been completed and was
focussed on converting a significant proportion of the Inferred Resource to
the Indicated Resource category, and on exploring newly identified areas of
mineralisation which have the potential to deliver further resource growth.
*Readers are encouraged to refer to the detailed drill results disclosed at
the end of this exploration update.
Near term Milestones & Targets
* Solar power plant commissioning - Q3 2022
* Capital structure review - Q3 2022
* Underground expansion study - Q3 2022
* Doropo Project (Côte d'Ivoire) pre-feasibility study - Q4 2022
* Sukari Resource & Reserve update - Q4 2022
Sukari Underground Drilling update
With the completion of the orebody re-logging exercise in early 2022 and the
development of an integrated geological framework for the Sukari orebody,
drilling at the Sukari underground operation continued to test for both
resource extension and conversion to support both the growth of the
underground reserve base and in turn the underground production expansion
study. The exploration programme has focussed on defining targets close to
existing infrastructure which can be quickly and cost effectively brought into
the mine planning process, while also continuing to test the depth and strike
extents (which remain open) that underpin the longer term potential of the
underground mine and the mine expansion plan.
The current drill programme also focussed on the further delineation of the
high-grade Bonanza zones as announced in December 2021 which have the
potential to host low tonnage / high grade targets.
Drilling completed up to 30(th) June 2022 is planned to be incorporated into a
Mineral Resource and Reserve update scheduled for completion in Q4 2022.
Following the recent move to owner-mining in the underground and, demobilising
the previous contract mining group, during H1 2022 the new underground
drilling contractor Geodrill Ltd successfully commenced drilling operations at
the Sukari underground mine. Geodrill is operating six underground diamond
drill rigs at Sukari and plans to introduce RC drilling in due course to
increase the sample size, increase metre production rates and reduce the drill
spacing which in turn, is expected to improve the Resource estimation process.
Follow link to view
http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf) : Figure
1: Long section looking east of the Sukari deposit, drill intercepts, the
Sukari porphyry and extent of mineralisation with current and life of mine pit
outlines.
Amun & Ptah
As the main current production areas of the underground mine, drilling in the
Amun and Ptah zones has focussed on both the conversion of Inferred Mineral
Resources to Indicated Mineral Resources and the development of strike
extensions to known mineralisation. Mineral Reserves that may be developed in
these areas are proximal to existing infrastructure and therefore can be
brought into the mining schedule quickly and cost effectively.
At Amun, drilling is aiming to increase the resource base, with holes
UGRSD2303 and UGRSD2304 intersecting 8.55m at 7.64g/t Au and 17m at 9.55g/t
Au, respectively, indicating both conversion and extension of resources
proximal to current workings. At Ptah, hole UGRSD3522 intersected 39.4m at
4.4g/t Au converting Inferred to Indicated Mineral Resources while increasing
the width of known resources with visible gold found in the last 1.4 metres on
the western contact of the Sukari porphyry (Figure 2).
Follow link to view
http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf) Figure
2: Hand-drawn oblique cross section through Ptah showing diamond drill hole
UGRSD3522 and significant assay intercepts converting Inferred Mineral
Resources into Indicated and Measured Mineral Resources from the 570mRL.
Horus
The Horus zone sits at depth beneath the Amun zone and represents the
long-term future of the underground operations. Mining development is
currently pushing into the upper levels of Horus enabling the establishment of
drill platforms from which the Horus Deeps zone is being developed. Work in
Horus is focused on both extensional drilling as we seek to establish the
extent of the mineralisation while simultaneously infilling known zones of
mineralisation to convert Inferred Mineral Resources to Indicated Mineral
Resources for use in medium to long term mine planning, thus underpinning the
Underground Expansion Planning work. During the last 6 months, Horus Deeps
returned it's best ever intercept whereby infill diamond hole UGRSD4561A
intercepted 54m at 15.09g/t Au within the Sukari porphyry, further underlining
the long-term potential of the Sukari underground (Figure 3).
Follow link to view
http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf) Figure
3: Hand-drawn oblique cross section showing diamond drill hole UGRSD4561A with
significant intercepts and geological interpretation of the Horus Deeps
region.
Bast
The Company identified the presence of high grade 'Bonanza Zones' in the Bast
Zone during 2021, these zones sit within close proximity to existing mining
infrastructure. These targets have been subject to further infill drilling on
15m spaced intervals to better define the geological framework in which this
gold is hosted. Drilling continues to yield high grade intercepts including
4.5m at 276.94g/t Au consisting of 2 to 4 metre wide quartz veins or milled
breccias on the contact of an east dipping felsic porphyry and carbonaceous
sediments hosted within a shear zone. Multiple economic zones of gold have
also now been defined within the shear zone on lithological contacts which
further improves the ounce per vertical metre and economics of the area
(Figure 4). Eighty (80) metres to the south, within the same structural
corridor, recent drilling intersected 7.5m at 10.66g/t Au including 0.3m at
215g/t Au in hole UGRSD3485. Drilling continues in this area to bring these
ounces into the mine plan in the short term.
Follow link to view Figure 4
http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf) :
Hand-drawn cross section 10770N looking north through the Bast high-grade zone
shows the orientation of the quartz veins, spatial location with the contact
of a felsic porphyry, sediments and serpentinites. Results are pending within
the Bast zone for diamond drill hole UGRSD3516.
Sukari SURFACE Exploration
In 2021 an exploration programme was commenced to systematically explore the
full 160km(2) of the Sukari Mining Concession to identify the potential for
satellite feed material which would, in addition to growing the Mineral
Resource and Reserve base of the mine, provide additional flexibility to the
operating plan. The surface exploration programme consisted of systematic
sampling of all artisanal and small scale mining sites within the mining
concession area, detailed prospect mapping and surface geochemistry. In
parallel, the Mineral Resource Management (MRM) team reviewed previously
drilled gold prospects such as Kurdeman, Quartz Ridge and V-Shear South to
reassess their potential to host mineable targets.
The surface exploration work identified seven drill targets, of which five had
not been drilled previously. All these prospects are located within 10km of
the Sukari mill and include:
* Wadi Alam
* V Shear East
* Sukari North
* Sukari North Extension
* Um Tundabah
* Kurdeman East
* East Melange Contact
A 10,000m drill programme to test these targets was completed in Q4 2021 and
the assay results have indicated encouraging results indicating mineralised
targets that have the potential to form satellite feed to the mill in the
short to medium terms. The initial drill results from the Wadi Alam, V Shear
East,
Um Tundubah and Kurdeman East prospects warrant follow up infill and step out
drilling based on the following notable drill intercepts:
Prospect Name Hole Number From (m) To (m) Interval (m) Grade g/t Au
Wadi Alam WA004 41 63 22 2.9
Wadi Alam WA008 115 126 11 2.8
V_Shear East VSE006 50 53 3 17.7
V_Shear East VSE011 50 55 5 10.6
V_Shear East VSE004 41 51 10 2.9
V_Shear East VSE011 17 25 8 3.5
Um Tunduba UT005 74 76 2 4.6
Um Tunduba UT004 36 38 2 2.6
Kurdeman East KRE010 101 106 5 4.1
Kurdeman East KRE008 106 111 5 1.6
http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf)
The MRM team has advanced their review of the results of the previously
drilled gold prospects such as Kurdeman, Quartz Ridge and V-Shear South. This
work has initially focussed on Kurdeman with Quartz Ridge to follow. At
Kurdeman the initial drill programme identified multiple zones of quartz
veining of 1-4metres wide on lithological contacts with visible gold in core
and the assay results included the following highlights:
Prospect Name Hole Number From (m) To (m) Interval (m) Grade g/t Au
Kurdeman KRC002 27 36 9 9.3
Kurdeman KRC015 116 118 2 34.7
Kurdeman KRD016 27 31 4 19.2
Kurdeman KRD024 45 47 2 56.7
Kurdeman KRD042 50 53 3 26.4
The V-Shear South prospect, which was drilled in 2019 and H1 2020, is not
considered worthy of follow-up drilling at this time.
A 25,000m drilling programme is planned to commence in H2 2022, which will
further test the new discoveries and carry out 25x25m infill resource drilling
at Kurdeman, with the goal of developing Mineral Resources at each target and
completing evaluation work which may support their potential inclusion in the
mine plan.
The Company notes that the potential quantity and grade of these prospects are
conceptual in nature, that there has been insufficient exploration to define a
mineral resource and that it is uncertain if further exploration will result
in the prospects being delineated as a mineral resources.
Airborne Geophysical survey
An airborne geophysical survey, covering the entire 160km(2) Sukari mining
concession area, was completed during Q2 2022. The heliborne survey, which
marks a first for Sukari and more broadly the mining sector in Egypt, combined
VTEM, Magnetic and Radiometric techniques, flown at 100m line spacing across
the concession area. The programme was designed to further the understanding
of the geological and structural setting of the Sukari mineralised system
itself as well as the numerous gold prospects across the concession area.
The geophysical data is currently being processed with expected delivery of an
initial set of VTEM, Magnetic and Radiometric imagery during July when further
processing and interpretation of the overall data set will be undertaken
before the planning of the next phase of work based on the outcomes of the
survey.
Eastern desert Exploration ("EDX")
The EDX Blocks, awarded in 2021 comprise 3,000km(2) of highly prospective
greenfield exploration tenements within the Egyptian section of the Arabian
Nubian Shield. This area has not been explored in the modern era using current
exploration methods and represents a significant land package of highly
prospective but underexplored geological terrane. The land package is divided
in to 3 Blocks - the Nugrus Block surrounding the Sukari mine, the Um Rus
Block located 50km north of Sukari and the Najd Block which is located
southeast of the former El Sid mine.
http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5988R_1-2022-7-6.pdf)
Based on remote sensing studies - mapping of artisanal mining sites, the
interpretation of satellite imagery and mineral mapping techniques - all three
blocks of ground are known to be highly prospective. Work to date in the
Nugrus Block has identified six priority targets which contain in excess of
20km(2) of alluvial artisanal workings and over 300 hard rock artisanal sites.
During May 2022 the final environmental permits were received, enabling the
commencement of exploration activity on the Nugrus Block. The initial
exploration strategy is based on two principal objectives:
* Systematic reconnaissance scale exploration covering all three Blocks of
ground, during the hot summer months, using BLEG sampling of the extensive dry
wadi (drainage) systems. This will enable the safe relinquishment of ground
following the first two-year exploration cycle as well as to identify areas of
potential gold mineralisation that have not been already discovered by
artisanal miners; and,
* Systematic surface exploration using exploration geochemistry and geological
mapping of high priority targets, that have already been identified based on
remote sensing studies, to generate early drill targets. This work will
commence in Q4 at the start of the cool winter months.
Doropo - Côte d'ivoire
Work is continuing towards the delivery of the Doropo pre-feasibility study
("PFS")by the end of the year. The field programme has seen the completion of
in excess of 100,000 metres of drilling which is expected to convert the
majority of the Inferred Resource to the Indicated Resource category and
support the completion of the PFS.
Resource growth potential has also been identified indicating the potential to
laterally extend several of the Main Cluster deposits, and at the Kilosegui
deposit, which is located 30km southwest of the Main Cluster, the current 7km
long Mineral Resource area is open along strike in both directions and down
dip.
A detailed soil geochemistry sampling programme is being conducted across the
Doropo Main Cluster project footprint. The work completed to date has
identified potential areas for Mineral Resource expansion. These targets will
require drilling and will therefore not make the cut-off for inclusion in the
PFS. Accordingly, the targets offer potential upside to the Mineral Resource
estimate on which the PFS will be based.
Work towards the PFS is progressing with many of the major workstreams
complete or significantly advanced as described below:
* Mineral Resource and Reserve update - With infill drilling now complete, the
updated Mineral Resource estimates are currently in progress and are expected
to be completed during Q3 2022
* Plant design - Comminution test work and the process plant front-end design
has been completed
* Metallurgical drilling completed, with the metallurgical test work programme
underway
* Geotechnical drilling programme is now over 75% complete
* E&S baseline studies and stakeholder engagement to support the evaluation
of options for mine design, sequencing and site infrastructure.
The PFS is expected to be completed late in Q4 2022, which will be followed by
a formal decision to proceed with a definitive feasibility study ("DFS") .
About Centamin
Centamin is an established gold producer, with premium listings on both 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 circa 5 million ounces of gold, and today
has a projected mine life of 12 years.
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 the Egypt's Arabian Nubian Shield.
Centamin practices responsible mining activities, recognising its
responsibility to not only deliver operational and financial performance but
to 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 Buchanan
Michael Stoner, Group Corporate Manager Bobby Morse/Ariadna Peretz
investor@centaminplc.com (mailto:investor@centaminplc.com) + 44 (0) 20 7466 5000
centamin@buchanan.uk.com (mailto:centamin@buchanan.uk.com)
ENDNOTES
Quality Assurance and Quality Control (QA/QC)
Centamin has instigated external QAQC processes to control the quality of the
analytical data through systematic monitoring of the accuracy and precision
(i.e. repeatability) within the drill sampling and assaying process, including
checks for contamination. The types of check samples that have been introduced
into the sample stream include blank samples ("blanks"), certified reference
materials ("standards"), and field duplicate samples.
The QAQC procedures employed during the drilling programs have involved the
routine insertion of control samples into the sample collection stream,
consisting of Certified Reference Material (CRM), uncertified coarse and
certified pulp "blind" blank samples, and duplicate samples. Management and
assessment of the analytical control data is undertaken by the site geologists
to allow timely diagnostics of sample errors and identification of error
sources.
In addition, the site based Centamin and external SGS and Bureau Veritas (BV)
analytical laboratories have their own internal quality performance processes
which follow best practice guidelines required for qualification under
International Organization for Standardization (ISO) standards. The standard
QAQC protocols for the laboratories includes the insertion of CRMs, blanks,
duplicates and repeat assaying to monitor the quality of the preparation and
analytical processes of the laboratory. The results of the internal laboratory
quality controls, where the internal lab is only used for sample preparation,
are reported regularly to Centamin on a batch by batch basis, and are closely
monitored by Centamin personnel.
Qualified Person
Information of a scientific or technical nature in this document was prepared
under the supervision of Craig Barker for the Sukari Underground drilling
results and Howard Bills for the surface exploration results. The Qualified
Persons are employees of the Company and are 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", "plans" or variations thereof or
stating that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions. Froward-looking statements include
production outlook, operating schedules, production profiles, expansion and
expansion plans, efficiency gains, production and cost guidance, capital
expenditure outlook, exploration spend, the completion of and timing with
respect to resource updates and feasibility studies, and other and operational
and 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, assumptions 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
forward-looking 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
Sukari Concession Drilling Results
Prospect Name Hole Number Dip Azimuth From (m) To (m) Interval (m) Grade g/t Au MF gm Au
Kurdeman East KRE010 -60 247 101 106 5 4.05 20.25
Kurdeman East KRE008 -60 250 106 111 5 1.57 7.85
Kurdeman East KRE007 -60 249 158 163 5 0.9 4.5
Kurdeman East KRE011 -60 247 50 54 4 1.06 4.24
Kurdeman East KRE011 -60 247 41 45 4 0.61 2.44
Kurdeman East KRE014 -60 249 132 135 3 0.56 1.68
Sukari North SNRC021 -60 279 104 112 8 0.68 5.44
Sukari North SNRC023 -60 274 121 124 3 0.76 2.28
Sukari North SNRC017 -60 273 32 35 3 0.6 1.8
Sukari North SNRC020 -60 276 3 5 2 0.89 1.78
Sukari North SNRC021 -60 279 35 37 2 0.7 1.4
Sukari North SNRC023 -60 274 81 83 2 0.57 1.14
Sukari North Extension SNERC005 -60 231 6 19 13 0.74 9.62
Sukari North Extension SNERC010 -60 273 53 62 9 0.82 7.38
Sukari North Extension SNERC006 -60 228 59 67 8 0.58 4.64
Sukari North Extension SNERC009 -60 237 39 45 6 0.52 3.12
Sukari North Extension SNERC002 -60 284 9 12 3 0.96 2.88
Sukari North Extension SNERC008 -60 234 6 9 3 0.83 2.49
Sukari North Extension SNERC013 -60 270 41 43 2 1.24 2.48
Sukari North Extension SNERC008 -60 234 25 27 2 1.08 2.16
Sukari North Extension SNERC003 -60 239 34 37 3 0.62 1.86
Sukari North Extension SNERC013 -60 270 98 100 2 0.66 1.32
Sukari North Extension SNERC009 -60 237 51 53 2 0.59 1.18
Um Tunduba UT005 -60 1 74 76 2 4.62 9.24
Um Tunduba UT004 -60 3 36 38 2 2.6 5.2
Um Tunduba UT006 -60 2 23 25 2 2.22 4.44
Um Tunduba UT007 -60 5 43 45 2 2.13 4.26
Um Tunduba UT002 -60 4 43 46 3 1.2 3.6
Um Tunduba UT003 -60 358 25 27 2 0.83 1.66
Um Tunduba UT009 -60 0 52 55 3 0.55 1.65
V_Shear East VSE006 -60 140 50 53 3 17.72 53.16
V_Shear East VSE011 -60 141 50 55 5 10.59 52.95
V_Shear East VSE004 -60 139 41 51 10 2.92 29.2
V_Shear East VSE011 -60 141 17 25 8 3.45 27.6
V_Shear East VSE010 -60 140 6 11 5 4.47 22.35
V_Shear East VSE009 -60 145 98 101 3 7.3 21.9
V_Shear East VSE006 -60 140 74 77 3 6.51 19.53
V_Shear East VSE004 -60 139 60 68 8 1.8 14.4
V_Shear East VSE009 -60 145 126 135 9 1.31 11.79
V_Shear East VSE010 -60 140 21 28 7 1.62 11.34
V_Shear East VSE011 -60 141 141 143 2 5.12 10.24
V_Shear East VSE008 -60 146 173 177 4 2.53 10.12
V_Shear East VSE011 -60 141 107 114 7 1.34 9.38
V_Shear East VSE009 -60 145 74 76 2 4.34 8.68
V_Shear East VSE012 -60 142 78 88 10 0.86 8.6
V_Shear East VSE003 -60 138 82 87 5 1.58 7.9
V_Shear East VSE001 -60 139 83 85 2 3.92 7.84
V_Shear East VSE011 -60 141 66 68 2 3.86 7.72
V_Shear East VSE005 -60 146 110 112 2 2.54 5.08
V_Shear East VSE003 -60 138 74 77 3 1.68 5.04
V_Shear East VSE008 -60 146 82 88 6 0.77 4.62
V_Shear East VSE012 -60 142 126 130 4 1.04 4.16
V_Shear East VSE011 -60 141 78 83 5 0.72 3.6
V_Shear East VSE009 -60 145 147 150 3 0.92 2.76
V_Shear East VSE012 -60 142 110 112 2 0.95 1.9
V_Shear East VSE007 -60 144 105 108 3 0.62 1.86
V_Shear East VSE007 -60 144 100 103 3 0.56 1.68
Wadi AlAlam WA004 -60 198 41 63 22 2.92 64.24
Wadi AlAlam WA008 -60 204 115 126 11 2.79 30.69
Wadi AlAlam WA003 -60 208 1 12 11 1.89 20.79
Wadi AlAlam WA005 -60 204 27 32 5 3.43 17.15
Wadi AlAlam WA006 -60 203 103 108 5 1.29 6.45
Wadi AlAlam WA007 -60 205 68 74 6 0.88 5.28
Wadi AlAlam WA007 -60 205 109 111 2 2.2 4.4
Wadi AlAlam WA002 -60 200 48 51 3 1.32 3.96
Wadi AlAlam WA006 -60 203 78 80 2 1.24 2.48
Wadi AlAlam WA003 -60 208 31 33 2 1.04 2.08
Wadi AlAlam WA009 -60 307 99 103 4 0.5 2
Wadi AlAlam WA009 -60 307 59 62 3 0.6 1.8
Wadi AlAlam WA009 -60 307 43 45 2 0.73 1.46
Wadi AlAlam WA006 -60 203 66 68 2 0.61 1.22
Sukari Underground Significant Assay Results >1g/t Au
Zone Hole ID Dip Azimuth From To Interval Grade
Amun UGRSD2303 -6 315 38.35 46.9 8.55 7.64
Includes 12 13 1 3.78
39 40 1 3.22
41.3 41.75 0.45 8.02
45 46 1 52.8
UGRSD2304 -5 331 35 52 17 9.55
includes 18 20.5 2.5 3.62
39 40 1 3.41
44.3 45 0.7 4.89
49 50 1 136.00
Ptah *P710-GT1 -20 91 0 18 18 4.17
includes 0 1 1 3.51
5 10 5 7.60
15 16 1 17.50
*P710-GT1 -20 91 44 47 3 9.55
includes 45 46 1 27.50
UGRSD3445 14 97 63 86 23 7.24
including 65 67 2 14.29
70 71 1 5.10
74 80 6 17.72
82 85 3 4.11
UGRSD3446 -7 125 46 49.7 3.7 9.80
including 14 15 1 3.30
37 38 1 3.85
47 48.4 1.4 24.17
Ptah UGRSD3502 6 155 74.1 83 8.9 9.67
including 74.1 81 6.9 12.10
UGRSD3503 9 147 67.65 78 10.35 3.35
including 73 77 4 6.90
UGRSD3505 12 140 0.1 59.6 59.5 3.60
including 14 26.6 12.6 12.35
37 38 1 3.82
59 59.6 0.6 3.18
UGRSD3505 12 140 64 79.75 15.75 3.22
including 64 65 1 31.04
69 70 1 4.81
75 76 1 3.42
UGRSD3511 -4 97 5 28 23 5.48
including 7 8 1 93.90
24 25 1 3.25
UGRSD3514 -7 104 53 60 7 12.40
including 7 8 1 93.90
UGRSD3522 -13 100 5 44.4 39.4 4.40
including 7 8 1 3.32
23 24 1 5.47
29 30.4 1.4 10.19
32 35 3 16.30
40 41 1 5.27
43 44.4 1.4 46.38
UGRSD3526 -20 109 43 49 6 4.25
including 44 46 2 11.57
UGRSD3533 7 103 82 103 21 4.20
including 83 89 6 10.01
97 98 1 15.40
101 102 1 3.02
BAST UGRSD3485 7 92 36.65 44.15 7.5 10.66
includes 36.65 37 0.35 4.31
39 39.3 0.3 215.00
41 42 1 8.87
UGRSD3495 -1 92 36 53 17 12.49
includes 42 44.5 2.5 6.84
51 55 4 47.09
BAST UGRSD3480 -45 91 0 10 10 64.42
including 0 1 1 159.00
3 5 2 199.00
UGRSD3486 -10 94 85 89 4 24.72
including -8 108 47 48 1 3.97
85 86 1 95.30
UGRSD3487 0 91 69 86 17 6.35
including 72 73.6 1.6 58.38
UGRSD3517 -9 91 13 16.1 3.1 4.14
including 14 16.1 2.1 5.81
UGRSD3517 -9 91 94.5 99 4.5 267.95
including 95 99 4 301.29
UGRSD3519 -18 90 97 115.2 18.2 3.25
including 99 100 1 8.64
102 103 1 40.10
UGRSD3520 -8 93 50.6 61.85 11.25 11.18
including 59 62.45 3.45 33.82
Horus *UGRSD0029 -89 260 796 801 5 3.06
*UGRSD0030 -75 189 548 570 22 4.02
*UGRSD0094 -81 189 157 157.6 0.6 17.39
UGRSD2221 -55 292 47.4 55 7.6 55.00
UGRSD2221 -55 292 97.5 98.8 1.3 3.36
UGRSD2226 -44 238 76.2 80.15 3.95 22.66
UGRSD2284 -80 283 239.7 242 2.3 79.23
including 239.7 240.85 1.15 159.59
UGRSD2293 -27 296 51.1 62 10.9 3.41
including 51.1 51.7 0.6 6.79
53 54 1 23.10
UGRSD4546 -87 284 350.3 351.85 1.55 35.72
UGRSD4546 -87 284 412 421.6 9.6 4.76
UGRSD4560 -83 114 253 257.2 4.2 15.76
including 253 255 2 32.10
UGRSD4560 -83 114 533.3 539.5 6.2 8.83
including 534 536 2 4.71
538 539.5 1.5 27.44
UGRSD4562 -73 290 312 316 4 3.99
UGRSD4689 -36 288 340.1 346 5.9 4.94
including 340.1 341 0.9 29.20
Horus UGRSD4561A -86 299 277 331 54 15.09
including 277 278 1 4.27
284 287.8 3.8 161.31
304 306.15 2.15 44.84
311 313 2 7.10
315 316 1 11.00
319 320.05 1.05 32.38
UGRSD4561A -86 299 454 459 5 4.28
including 456 458 2 8.55
479 480 1 4.02
514.8 515.6 0.8 3.36
UGRSD4564 -77 326 268 281 13 5.57
including 268 273 5 5.87
275 280 5 8.07
291 293 2 3.96
UGRSD4677 -57 246 234.9 239.9 5 5.56
including 234.9 236 1.1 20.10
238.6 239.9 1.3 4.24
UGRSD4692 -65 289 326.5 333 6.5 4.06
including 303 303.8 0.8 4.43
328 331 3 6.78
UGRSD4693 -76 291 408.85 414 5.15 5.68
including 411 413 2 12.69
UGRSD4695 -46 301 269.2 278 8.8 6.54
including 245.4 246 0.6 18.20
273 274 1 51.10
1. Significant intercepts are located within the Sukari Mine Concession and
proximal to the mine workings
2. Minimum down hole width reported is 3 metres with a maximum internal dilution
of 4 metres.
3. True widths are approximately 90% of the intersection width
4. Drill holes with an astericks (5.) indicate sampling from old holes
6. All holes are drilled with NQ.
7. Coordinates are in mine-grid.
8. No factors of material effect have hindered the accuracy and reliability of
the data presented above.
9. No upper cuts applied.
10. For detailed information on drilling, sampling and analytical methodologies
refer to the NI43-101 "Technical Report for the Mineral Resource and Mineral
Reserve Estimate for the Sukari Gold Project, Egypt Sukari Project" filed on
Sedar at 30 June 2015.
http://www.sedar.com/ (http://www.sedar.com/)
Sampling and Analysis
All drill cores are sampled in intervals up to a maximum of two metres and
minimum of 0.3 metres, with 1 metre sample intervals being the common length
within mineralized zones. The dimensions of the mineralized zones far exceed
the standard sample length. NQ core is drilled for both grade control and
exploration. The core is cut by diamond saw, with half core samples
submitted for assaying and the residual half core is retained in plastic core
trays. All drill cores are photographed prior to cutting and/or sampling.
Following SGM standard procedures, a full suite of field and laboratory
duplicates and replicates along with internationally accredited standards are
submitted with each batch of samples. Diamond drill core is prepared and
assayed at the onsite laboratory at Sukari Gold Mine in Egypt. Samples are
routinely assayed for gold and sulphur using Fire Assay and Eltra analytical
techniques.
Sample tickets are entered into the bags with a numbering system, which
reconciles sample and assayed results in the Fusion database. The average core
recovery within the modelled resource constraints is greater than 95%. The
weight of a core sample varies between 3kg and 5kg.
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