Centamin has announced the results of its maiden drill programme on the company’s Eastern Desert Exploration (EDX) landholding in Egypt and has provided an update on the anticipated exploration programme for 2024.
The company’s EDX blocks comprise 3000 km2 of greenfield exploration tenements within Egypt’s Nubian Shield – a highly prospective geological belt which has not been explored using modern exploration methods.
Martin Horgan, CEO, commented: “Through the application of our systematic approach to assessing the geological potential of our Egyptian exploration portfolio, our team has delivered an encouraging set of maiden drill results across several targets within the Nugrus block, which is adjacent to our operating mine, the Sukari Gold Mine.
Supported by a pending new mining regulatory and fiscal regime, these results underpin Egypt’s emergence as an attractive exploration jurisdiction which Centamin is uniquely positioned to leverage given our experience and long-standing position in-country.
We have an exciting work programme budgeted for 2024 which includes delineating potential resources and further drill targets in Egypt as part of our growth strategy, which has already increased pre-depletion Group reserves by 3.5 million oz over the last three years.”
Source: Global Mining Review
