Centamin Egypt Limited
TSX : CEE
AIM : CEY
ASX : CNT

Centamin Egypt Limited

May 20, 2009 07:30 ET

Centamin Egypt Limited Drilling Update

TORONTO, ONTARIO--(Marketwire - May 20, 2009) - Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(ASX:CNT)(AIM:CEY) is pleased to announce that the resource definition drilling in the northern half of Sukari Hill porphyry continues to return highly encouraging assay results, with a thick, high grade intersection of 43m @ 17g/t Au from 499m downhole (including 1m @ 68.1g/t Au from 525m and 2m @ 279g/t Au from 531m) recorded in hole D1435 on section 11250N. D1435 was drilled in the Pharaoh Zone, 150m south of D1431 (11400N) which returned an intersection of 55m @ 3.48g/t Au. Several other holes in the area have also returned strong assays, such as D1420 (11275N) - 79m @ 4.48g/t Au; D1423 (11350N) - 47m @ 2.85g/t Au and RCD470 (11525N) - 66m @ 4.80g/t Au.

The D1435 intersection is associated with the along strike and down dip extension of the high grade Hapi and deeper zones of mineralisation, and its significance is highlighted by continuity with several other recently returned strong Au assay intersections (including D1431). The drilling shows the high grade Hapi and related zones extend from the far south Amun Zone over 1.5km north to the area of current drilling, and are likely to continue to the northern end of the hill, a further 1km to the north.

These zones along the entire strike length of Sukari Hill (2.5km) are the target of current comprehensive infill and extension drilling with 8 diamond coring rigs. Most of the intersections described above are outside the most recent February 2009 resource estimate (9.39Moz Measured and Indicated, plus 3.5Moz Au Inferred - see Table 1 below), therefore, considerable resource ounces are anticipated to be added in the next resource upgrade, due in July 2009.



Table 1 - Total Resource (February 2009)

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Total Measured +
Measured Indicated Indicated Inferred
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Cut-off Tonnes Grade Tonnes Grade Tonnes Grade Gold Tonnes Grade Gold
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g/t Au Mt g/t Au Mt g/t Au Mt g/t Au Moz Mt g/t Au Moz
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0.50 72.39 1.48 118.73 1.56 191.11 1.53 9.39 64.3 1.7 3.5
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0.70 52.46 1.82 86.68 1.91 139.14 1.88 8.40 46.5 2.1 3.2
----------------------------------------------------------------------------
1.00 34.35 2.34 57.67 2.45 92.02 2.41 7.13 31.3 2.7 2.7
----------------------------------------------------------------------------

Note to Table: Figures in table may not add correctly due to rounding


For Centamin Egypt Limited

Josef El-Raghy, Managing Director/CEO

20 May 2009

Information in this report which relates to exploration, geology, sampling and drilling is based on information compiled by geologist Mr Richard Osman who is a full time employee of the Company, and is a member of the Australasian Institute of Mining and Metallurgy with more than five years experience in the fields of activity being reported on, and is a 'Competent Person' for this purpose and is a "Qualified Person" as defined in "National Instrument 43-101 of the Canadian Securities Administrators". His written consent has been received by the Company for this information to be included in this report in the form and context which it appears.

The assay samples were analysed by Ultra Trace Pty Ltd, Canning Vale, Western Australia.

The information in this report that relates to mineral resources is based on work completed by Mr Nicolas Johnson, who is a Member of the Australian Institute of Geoscientists. Mr Johnson is a full time employee of Hellman and Schofield Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a "Competent Person" as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101 of the Canadian Securities Administrators". Mr Johnson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Refer to the Technical Report which was filed on www.sedar.com in March 2007 for further discussion of the extent to which the estimate of mineral resources/reserves may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issue.

ABN 86 007 700 352

Contact Information

  • Centamin Egypt Limited
    Josef El-Raghy
    + 61 (8) 9316 2640
    + 61 (8) 9316 2650 (FAX)
    Email: centamin@centamin.com.au
    Website: www.centamin.com
    or
    Buchanan Communications Limited
    Ben Willey
    + 44 (0) 207 7466 5000
    or
    Buchanan Communications Limited
    Bobby Morse
    + 44 (0) 207 7466 5000
    or
    Ambrian Partners Limited
    Richard Brown
    + 44 (0) 207 7634 4700
    or
    Ambrian Partners Limited
    Richard Greenfield
    + 44 (0) 207 7634 4700