Centerra sees big reserve increase at Kumtor

Centerra Gold (CG-T) has significantly increased the reserve at its Kumtor gold mine in Kyrgyzstan, thanks to a mine-site exploration program.

Newly defined high-grade mineralization in the SB Zone, at the south end of the Kumtor pit, increased the Kumtor reserve to 40.2 million tonnes grading 3.8 grams gold per tonne at year-end. At the end of 2004, Kumtor had reserves of 31 million tonnes grading 3.3 grams per tonne.

Kumtor’s measured and indicated resources are also up significantly, with the new figure (exclusive of reserves) at 24 million tonnes grading 3.9 grams per tonne, compared with 17.6 million tonnes grading 3.4 grams per tonne at the end of 2004. Inferred resources at Kumtor were calculated at 5.5 million tonnes grading 4.6 grams, down from 2004, reflecting an upgrade of inferred resources to indicated.

Two other holes drilled on the SB Zone since December intersected mineralization down-dip from the known resources. Hole D1030A, drilled to test below the pit outline at its extreme southwest, intersected 46.9 metres grading 5.1 grams gold per tonne. Hole D1039A, drilled about 120 metres to the east, cut a 71-metre length that averaged 10.1 grams per tonne.