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Centerra Gold Announces 2021 Year-End Mineral Reserves and Resources and Fourth Quarter Exploration Update
This news release contains forward-looking information that is subject to risk factors and assumptions as set out in the Cautionary Note Regarding Forward-Looki
About this update from Centerra Gold Inc.
[{"type":"text","content":" This news release contains forward-looking information that is subject to risk factors and assumptions as set out in the Cautionary Note Regarding Forward-Looking Information section on pages [14-15]. All figures are in United States dollars unless otherwise stated. TORONTO, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) today announced its 2021 year-end estimates for mineral reserves and mineral resources. 2021 year-end mineral reserves have been estimated based on a gold price of $1,350 per ounce for the Mount Milligan Mine and the Öksüt Mine and $1,250 per ounce for the Kemess Property, and a copper price of $3.00 per pound. Centerra Mineral Reserves and Resources Highlights as at December 31, 2021: Centerra’s proven and probable gold mineral reserves total 4.85 million ounces of contained gold (288 million tonnes (Mt) at 0.52 g/t gold), a decrease of 0.3 million ounces of contained gold from December 31, 2020 (excluding the impact of the loss of control of the Kumtor Mine in May 2021). Centerra’s overall measured and indicated gold mineral resources, exclusive of mineral reserves, increased by 1.4 million ounces to 7.1 million ounces of contained gold (653 Mt at 0.34 g/t gold), excluding the impact of the loss of control of the Kumtor Mine. Centerra added ounces to the Mount Milligan Mine’s mineral resources as a result of in-fill drilling completed during the 2021 drilling program. Centerra’s proven and probable copper mineral reserves decreased by 101 million pounds to 1,366 million pounds of contained copper (257 Mt at 0.24% copper), primarily as a result of 2021 depletion. Centerra’s measured and indicated copper mineral resources, exclusive of mineral reserves, increased by 453 million pounds to 5,783 million pounds of contained copper (1,032 Mt at 0.20% copper). Centerra Year-End Gold Mineral Reserves and Mineral Resources Mineral Reserves As at December 31, 2021, Centerra’s proven and probable gold mineral reserves total an estimated 4.85 million contained ounces (288 Mt at 0.52 g/t gold), compared to 11.2 million contained ounces (374.6 Mt at 0.93 g/t gold) in the prior year. In 2021, proven and probable gold mineral reserves decreased by 6.3 million contained ounces, primarily due to processing of approximately 0.5 million contained ounces and the loss of c...