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Centerra Gold Inc.
Summary
| Project: | Oksut | |
|---|---|---|
| Deposit: | Oksut | |
| Location: | Turkey | |
| Commodities: | Gold | |
| Date: | 2/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-2-2017: Centerra Gold Inc. announces a Resource Estimation report for its Oksut deposit at the Oksut project. Annual statement of mineral resources and ore reserves, unchanged since previous estimate. Toronto, Canada, February 23, 2017: Centerra Gold I | |
| Resources: | (Reserve, Prob.): 26.173Mt @ 1.4g/t Au for 1.161Moz Au contained at project | |
| CP/QP: | [Resources]: Gordon Reid (Internal) | |
| ABSTRACT: | Toronto, Canada, February 23, 2017: Centerra Gold Inc. (TSX: CG) today issued its 2016 year-end estimates for mineral reserves and mineral resources. Scott Perry, CEO of Centerra Gold said: “In 2016, with the acquisition of Thompson Creek Metals Company Inc. and adding the Mount Milligan mine to our operating platform we have significantly added to our gold mineral reserves and now for the first time include copper mineral reserves. At the Company’s 50% owned Greenstone Gold Property, in Canada, the mineral resources were successfully converted to mineral reserves with the bankable feasibility study on the Hardrock Project released in November, which also contributed to the increase in our total gold mineral reserves to an estimated 16 million ounces of contained gold.” At the end of 2016, Centerra’s estimated proven and probable gold mineral reserves increased by 7.6 million contained ounces, after accounting for processing of 696,000 contained ounces in 2016. Centerra’s proven and probable mineral reserves now total an estimated 16.0 million ounces of contained gold (673.4 Mt at 0.7 g/t gold), compared to 8.4 million contained ounces (112.5 Mt at 2.3 g/t gold) as of December 31, 2015. The mineral reserve increase is primarily a result of the addition of Mount Milligan mineral reserves after the 1 University Avenue, Suite 1500 Toronto, ON M5J 2P1 tel 416-204-1953 fax 416-204-1954 www.centerragold.com 2 Company closed the acquisition of Thompson Creek Metals Company Inc. on October 20, 2016 and the completion of the feasibility study on the Hardrock Project where mineral resources were upgraded to mineral reserves in November 2016. The 2016 year-end mineral reserves have been verified and estimated using a gold price of $1,200 per ounce. | |
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