Home Market News Mining <!DOCTYPE html> <html> <head> <title>Centamin’s Sukari Gold Reserves Surge</title> </head> <body> Centamin Breaks Ground, Grows Sukari Gold Reserves for Third Straight Year

Centamin’s Sukari Gold Reserves Surge Centamin Breaks Ground, Grows Sukari Gold Reserves for Third Straight Year

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    Centamin Breaks Ground, Grows Sukari Gold Reserves for Third Straight Year

What a whirlwind of success for Centamin! With a 3.5 million-ounce uptick in proven and probable mineral reserves since 2020, the company smashed its target. The growth soared due to the expansion of reserves in Sukari and the inclusion of maiden mineral reserves at Doropo in Côte d’Ivoire.

In a jaw-dropping feat, Centamin revealed that proven and probable mineral reserves at the end of 2023 were 28% higher than the year before, hitting 194 million tonnes at an average grade of 1.23 grams per tonne for 7.7 million ounces of contained gold.

And if that’s not enough, measured and indicated mineral resources also showed substantial growth, with 392 million tonnes at an average grade of 1.06 grams per tonne for 13.4 million ounces of contained gold, inclusive of mineral reserves.

Ready to take the world by storm, the company plans to further expand its resources and reserves in the new year. There’s a budget set for 285,000 meters of drilling at Sukari, with a strong focus on grade control and infill drilling.

Hold onto your hats, folks! Another pivotal task for Centamin involves completing the definitive feasibility study for Doropo. A whopping 10,200 meters of sterilization drilling is on the cards to confirm infrastructure locations, with results expected in mid-2024.

Meanwhile, the company anticipates the release of full assay results from the Eastern Desert Exploration (EDX) maiden 16,000-meter drill campaign in the first quarter, a crucial guide for future work programs.

Chief Executive Officer Martin Horgan exclaimed, “Our improved geological understanding at Sukari has enabled a 500,000-ounce increase in reserves over the recently published life of mine plan’s 5.3 million-ounce estimate.”

Sukari, Egypt’s largest and first modern gold operation, is no slouch either. It has been churning out gold since 2009 and has already exceeded 5 million ounces, with a projected mine life of 14 years. Now that’s a showstopper!