- Centamin PLS (CEE) has summarized its ongoing exploration work across its assets in Egypt and West Africa
- The Sukari area has shown bonanza grade gold zones
- Sukari’s underground orebody has been completely drilled, with Horus Deeps being the highlight
- Work at Doropo is ongoing to have a prefeasibility study done by the end of this year
- The Eastern Desert licenses are being followed up with six priority targets found
- Centamin PLS (CEE) is up 5.04 per cent trading at $1.25 per share as of 12:08 p.m. ET
Centamin PLS (CEE) has updated the ongoing exploration initiatives across its prospective portfolio in Egypt and West Africa.
The company has identified the potential for ore sources at its Sukari area which showed bonanza grade gold zones.
“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,” Martin Horgan, CEO of Centamin, remarked.
According to the company, the program at Sukari gave supportive evidence for portraying the full potential of the underground orebody, which can deliver life of mine and operational expansions.
Drilling was reported to have been completed across all the underground, including at Horus Deeps. This is where drilling intersected the highest-grade mineralization in that zone to date. The company stated that Horus Deeps represents the operation’s long-term future.
“We also made excellent progress across our organic pipeline of projects that offer growth and diversification… 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,” Horgan said.
The company’s work at Doropo is ongoing so that the study can be completed by the end of this year.
Horgan also remarked that the company began fieldwork on its Eastern Desert licenses in Egypt earlier this year. Centamin has been operating in the country for roughly 20 years, which it believes to be an economic advantage.
The Eastern Desert areas have six high priority targets within the Nugrus block which will be followed up with sampling and mapping.
Centamin PLS (CEE) is up 5.04 per cent trading at $1.25 per share as of 12:08 p.m. ET.
