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Centamin Plc
Summary
| Project: | Doropo | |
|---|---|---|
| Deposit: | Doropo | |
| Location: | Cote D'Ivoire | |
| Commodities: | Gold | |
| Date: | 2/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-2-2019: Centamin Plc announces a Resource Estimation report for its Doropo deposit at the Doropo project. Updated mineral resource estimate at the project. Centamin is pleased to announce the results of the 120,000 metres drill programme in 2018, acros | |
| Resources: | (Resource): 50Mt @ 1.31g/t Au (Ind.), 19Mt @ 1.3g/t Au (Inf.) | |
| CP/QP: | [Resources]: Norman Baillie, Rupert Osborne (Internal;H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Centamin is pleased to announce the results of the 120,000 metres drill programme in 2018, across the Company's wholly own landholdings, resulted in an increase in mineral resources by more than 100%. A maiden resource has been declared at the ABC Project and the Doropo Project mineral resource has grown by 58%. Building on these results, a further 90,000 metres is budgeted and underway for 2019. The mineral resource data presented in the tables included in this announcement, comprise a summary extract of the of the Doropo and ABC mineral resource report, using drill assay results received up to and including 10 December 2018. For comparative purposes, data for 2017 has been included for Doropo. In the instance of ABC, this is a maiden mineral resource and therefore no previous data has been provided for comparative purposes. Numbers have been rounded and therefore they may be small differences in the totals. "2018 saw a further increase in our investment and level of activity in CDI across our 3,472km² land holding. We have only scratched the surface of the potential of these assets, and we are maintaining an intensive campaign in 2019 to define further quality gold ounces. Doropo continues to demonstrate the potential to be our next organic development project. Ongoing exploration and concurrent viability studies will further unlock the potential future scale of this project as we assess the economics against our internal project value creation criteria. The PEA is progressing well and we look forward to reporting the results to the market at the end of H2 2019. Delivery of a maiden reserve and further feasibility work are critical milestones for 2019, ahead of a Board decision on capital allocated for development. The success and scale of the 2018 ABC discovery results and the reporting of the maiden Kona South resource in less than two years of active exploration, highlights the scale and quality of the Lolosso Gold Corridor and the regional generative potential of the ABC land package. Centamin's core strategy remains on delivering returns using its highly cash generative business which not only delivers a high yield for its shareholders as per our sustainable dividend policy, but also delivering fully funded growth from our exciting exploration portfolio." | |
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