Centamin provides Doropo project update

Highlights:

• Infill drilling adds 2.4 million oz of indicated resources for a total of 2.52 million oz at a grade of 1.52 g/t of gold, constrained within US$2000/oz pit shells.
• Indicated resources represent a 22% increase in grade versus the 2021 preliminary economic assessment (PEA) average grade of 1.25 g/t Au.
• Resource growth identified, extensions and regional exploration targets have been identified using both new data and reinterpreting old data.
• The potential for significant capital and operating cost savings are under investigation as part of the PFS after encouraging initial metallurgical test work results indicate the opportunity to simplify the processing circuit.
• PFS completion is expected in 1H23, to enable the inclusion of the results of the mineral processing and metallurgical test work upside opportunity.

Martin Horgan, CEO, commented:

“The Doropo PFS workstreams are advancing well and delivering positive results. Following the completion of an extensive infill drilling programme through 2021 and 2022, we have now delivered the first mineral resource estimate constrained in pit shells, with 2.5 million oz in the indicated category eligible to be assessed for inclusion in the maiden reserves estimate. The indicated resource grade of 1.52 g/t Au should support improved project economics given it exceeds the 1.25 g/t Au average feed grade assumed in the 2021 PEA. In addition, the exploration team has successfully identified a number of targets for follow-up drilling that show potential to deliver further resource growth.

Furthermore, as part of the PFS metallurgical test work programme, we have identified an opportunity to remove the flotation and regrind circuit that was outlined in the PEA, in favour of a whole of ore leach flowsheet. Given the potential to deliver significant capital and operating cost savings, we are undertaking further comparative test work ahead of publishing the outcome of the PFS which is now expected in 1H23.”

Read the article online at: https://www.globalminingreview.com/mining/29112022/centamin-provides-doropo-project-update/