Large Gold Deposit Discovered in Egypt

Martin Horgan, the CEO of Centamin, has revealed a substantial gold deposit discovery in eastern Egypt. Preliminary results from exploration and drilling operations in the Najros Block, surrounding the Sukari mine, have shown promising findings.

Horgan emphasized the success of Centamin's intensive work program in 2024, focusing on identifying potential gold resources and additional drilling targets in Egypt. This strategic approach has contributed to a noteworthy increase in the exploration group's reserves during the past three years, estimated at 3.5 million ounces in the pre-exhaustion stage.

According to a report from Centamin, the exploration blocks cover 3,000 square kilometers in the Egyptian Nubian Shield region. This geological area, with high potential, has not been explored using modern methods until now.

In 2023, Centamin completed an initial drilling program spanning 16,216 meters across eight targets in the Najros area, adjacent to the Sukari mine concession. The program unveiled two significant points indicating the presence of gold ore: the small Sukari site (28 km west of the Sukari mine) and Umm Majal (23 km west of the Al-Sukari Mine). This discovery marks a significant development in the mining landscape of the region and holds promise for future economic growth.