Centamin increases reserves at its Sukari gold mine in Egypt

Centamin announced that the company delivered a 1.3Moz increase in Sukari gold mine measured and indicated mineral resources to 11.11Moz at 1.08 g/t Au, representing a 13% increase in ounces after twelve months of mining depletion and inclusive of mineral reserves.

The company said it has also delivered a 5% increase in Sukari proven and probable mineral reserves to 6.0Moz at 1.1g/t Au after twelve months of mining depletion. This included adding 0.8Moz of mineral reserves before mining depletion.

Importantly, Centamin pointed out it has identified multiple Sukari mineral resource and reserve growth opportunities, with 280,000 metres of drilling budgeted for 2023 focusing on open pit resource-to-reserve conversion at depth, underground exploration and delineation of known targets, and testing surface targets across the Sukari Concession.