Centamin PLC (LSE:CEY, TSX:CEE, OTC:CELTF), operator of the Sukari gold mine in Egypt, provided an update on its exploration progress in Egypt and West Africa.
Drilling at Sukari was completed across all areas of the underground and Centamin has identified the potential for satellite open pit ore sources within the Sukari concession and extensions of the Sukari underground orebody, including high-grade ‘Bonanza’ zones.
Also at Sukari, drilling at Horus Deeps intersected the highest-grade mineralisation in that zone to date. Horus Deeps, which sits below the Amun zone, remains open to the north, south and down dip and represents the long-term future of the operation, said Centamin.
Notable drill results include 54 metres (m) at 15.1 grammes a tonne (g/t) gold, including 3.8m at 161g/t and 2.15m at 44.84g/t, at Horus Deeps; and 23m at 7.2g/t gold, including 2m at 14.29g/t and 6m at 17.72g/t, at Ptah. At Amun, the best results include 17m at 9.6g/t gold, including 1m at 136g/t, and 8.5m at 7.6g/t gold, including 1m at 52.8g/t.
Drilling between Ptah and Amun continued to return high-grade underground zones of Bonanza style mineralisation. Drilling in this area demonstrated 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, Centamin said.
Drilling highlights between these two zones include: 10m at 64g/t gold, including 2m at 199g/t; 4.5m at 267g/t gold, including 4m at 301.29g/t; and 17m at 12.5g/t gold, including 2.5m at 6.84g/t and 4m at 47.09g/t.
"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,” said chief executive Martin Horgan.
“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.”
The company plans to incorporate drilling completed up to end-June into a mineral resource and reserve update, which is scheduled for completion in the fourth quarter of 2022.
Elsewhere, work is continuing towards the delivery of a pre-feasibility study at Doropo in the Ivory Coast by the end of the year.
"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,” said Horgan. “During Q2, field work commenced in our highly prospective Eastern Desert exploration licences.”