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Centerra Gold Inc.
Summary
| Project: | Oksut | |
|---|---|---|
| Deposit: | Oksut | |
| Location: | Turkey | |
| Commodities: | Gold | |
| Date: | 2/22/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-2-2019: Centerra Gold Inc. announces a Resource Estimation report for its Oksut deposit at the Oksut project. Annual resource/reserve update + new drill results incl. 39.3m @ 1.17g/t Au. Toronto, Canada, February 22, 2019: Centerra Gold Inc. (“Centerra | |
| Resources: | (Reserve, Prob.): 28.843Mt @ 1.4g/t Au | |
| CP/QP: | [Resources]: Gordon Reid (Internal) | |
| ABSTRACT: | Toronto, Canada, February 22, 2019: Centerra Gold Inc. (“Centerra”) (TSX: CG) today issued its 2018 yearend estimates for mineral reserves and mineral resources. 2018 year-end mineral reserves have been estimated based on a gold price of $1,250 per ounce and a copper price of $3.00 per pound. At December 31, 2018, proven and probable gold mineral reserves total an estimated 14.2 million contained ounces (706.3 Mt at 0.6 g/t gold), compared to 16.3 million contained ounces (746.8 Mt at 0.7 g/t gold) the prior year. During 2018, proven and probable gold mineral reserves decreased by 2.1 million contained ounces, after processing of 977,000 contained ounces and a net deletion of 1.1 million contained ounces. The decrease in gold mineral reserve contained ounces is primarily due to the Company’s sale of the Mongolian business unit (Gatsuurt Project) that represented 1.3 million contained ounces of mineral reserves. Excluding the impact of the sale of the Company’s Mongolian business unit gold mineral reserves decreased by 782,000 contained ounces in 2018. The 2018 year-end gold mineral reserves have been estimated using a gold price of $1,250 per ounce. At the Kumtor Mine, in the Kyrgyz Republic, at the end of December 2018, proven and probable gold mineral reserves total an estimated 4.0 million ounces of contained gold (51.6 Mt at 2.4 g/t gold), compared to 4.5 million contained ounces (57.1 Mt at 2.4 g/t gold) as at December 31, 2017. During 2018, proven and probable gold mineral reserves decreased by 471,000 contained ounces, after accounting for processing of 668,000 contained ounces in 2018, of which 11,000 contained ounces came from processing gold-bearing carbon fines, and further offset by a 24,000 ounce positive reconciliation from the Central Pit stockpiles and a 162,000 ounce positive reconciliation to the resource model in the Central Pit. | |
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