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Centerra Gold Announces 2022 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 12-13. All figures are in United States dollars unless otherwise stated. TORONTO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) today announced its 2022 year-end estimates for mineral reserves and mineral resources. 2022 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, a copper price of $3.25 per pound for the Mount Milligan Mine, and a gold price of $1,200 per ounce and a copper price of $2.50 per pound for the Kemess Project. The Company added 0.6 million proven and probable gold mineral reserves in 2022, net of depletion, when compared to the balances included in the 2021 year-end estimates (released February 25, 2022). On November 7, 2022, the Company released a technical report for mineral resources and mineral reserves at the Mount Milligan Mine (“Mount Milligan Mine TR”). The Mount Milligan Mine TR added 1.1 million ounces of gold and 260 million pounds of copper as of December 31, 2021. The balances as of December 31, 2021 used for comparative purposes in this document will consider the updated figures included in the Mount Milligan Mine TR. Centerra Mineral Reserves and Resources Highlights as at December 31, 2022: Centerra’s proven and probable gold mineral reserves total 5.5 million ounces of contained gold (358 million tonnes (Mt) at 0.46 grams of gold per tonne (g/t gold)), a decrease of 0.48 million ounces of contained gold from December 31, 2021, as a result of depletion. Centerra’s overall measured and indicated gold mineral resources, exclusive of mineral reserves, decreased by 0.1 million ounces to 6.1 million ounces of contained gold (551 Mt at 0.34 g/t gold). Centerra’s proven and probable copper mineral reserves decreased by 94 million pounds to 1,532 million pounds of contained copper (331 Mt at 0.21% copper), as a result of depletion. Centerra’s measured and indicated copper mineral resources, exclusive of mineral reserves, were 6,453 million pounds of contained copper (1,144 Mt at 0.26% copper). Centerra Year-End Gold Mineral Reserves and Mineral Resources Mineral Re...