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 ReservesAs 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 control of the Kumtor Mine (including the
gold inventory of approximately 6.0 million contained ounces as of
December 31, 2020). Partially offsetting the overall decrease was
the addition of approximately 0.2 million contained ounces at the
Öksüt Mine.
Mount MilliganAt the Mount Milligan Mine, proven
and probable gold mineral reserves total an estimated 1.8 million
ounces of contained gold (150.0 Mt at 0.38 g/t gold) as of December
31, 2021, compared to 2.1 million contained ounces gold (170.6 Mt
at 0.39 g/t gold) as of December 31, 2020. For 2021, proven and
probable gold mineral reserves decreased by 310,000 contained
ounces of gold, including the processing of 306,000 contained
ounces of gold.
ÖksütAt the Öksüt Mine, proven and probable gold
mineral reserves total an estimated 1.1 million ounces of contained
gold (30.5 Mt at 1.16 g/t gold) at December 31, 2021, compared to
the estimated 1.1 million ounces of contained gold (26.3 Mt at 1.34
g/t gold) as at December 31, 2020. Proven and probable gold mineral
reserves 2021 depletion (196,000 ounces) was more than offset by an
increase of 203,000 contained ounces due to an updated life of mine
plan and decrease of the cut-off grade from 0.2 g/t to 0.16 g/t
gold.
KemessAt the Kemess Property, the proven and
probable gold mineral reserves for the Kemess Underground Project
are unchanged at an estimated 1.9 million contained ounces (107.4
Mt at 0.50 g/t gold) as at December 31, 2021.
Mineral ResourcesCenterra’s
measured and indicated gold mineral resources decreased by
approximately 0.9 million ounces of contained gold to 7.1 million
ounces of contained gold (652.9 Mt at 0.34 g/t gold), when compared
to the December 31, 2020 estimate. The decrease is a result of the
loss of control of the Kumtor Mine (2.3 million ounces as of
December 31, 2020), partially off-set by the addition of 1.4
million ounces to the Mount Milligan Mine’s mineral resources as a
result of in-fill drilling completed during the 2021 drilling
program. All measured and indicated gold resource figures in this
section are presented exclusive of gold mineral resources.
Mount MilliganAt the Mount Milligan Mine,
measured and indicated resources increased by 1.4 million contained
ounces of gold, as a result of the infill drilling described above,
for a total of 2.8 million ounces of contained gold (284.0 Mt at
0.31 g/t gold) as at December 31, 2021.
ÖksütAt the Öksüt Mine, measured and indicated
gold resources as at December 31, 2021 increased by 53,000
contained ounces, attributable to an updated resource estimate,
offset by processing 196,000 contained ounces of gold during
2021.
KemessAt the Kemess Underground and Kemess East
projects, measured and indicated gold resources are unchanged
compared to December 31, 2020, totaling 4.0 million ounces of
contained gold (351.2 Mt at 0.36 g/t gold).
Inferred Gold Mineral Resources
The Company’s inferred gold mineral resource estimate totals 1.0
million contained ounces of gold (95.4 Mt at 0.34 g/t gold) as at
December 31, 2021, a decrease of 4.3 million contained ounces when
compared to December 31, 2020. The decrease is primarily a result
of the loss of control of the Kumtor Mine which resulted in a
decrease of 4.4 million contained ounces, partially offset by the
addition of 125,000 ounces at the Mount Milligan Mine.
Inferred mineral resources have a great amount
of uncertainty as to their existence and as to whether they can be
mined economically. It cannot be assumed that all or part of the
inferred mineral resources will ever be upgraded to a higher
category.
Centerra Year-End Copper Mineral
Reserves and Mineral Resources
Mineral ReservesProven and
probable copper mineral reserves total an estimated 1,366 million
pounds of contained copper (257 Mt at 0.24% copper).
Mount MilliganAt the Mount Milligan Mine, proven
and probable copper mineral reserves total an estimated 736 million
pounds of contained copper (150 Mt at 0.22% copper) as at December
31, 2021 compared to 837 million pounds of contained copper (171 Mt
at 0.22% copper) as at December 31, 2020. The decrease of 101
million contained pounds of copper was primarily due to the
processing of 97 million contained pounds of copper in 2021.
KemessThe Kemess Underground Project’s proven
and probable copper mineral reserves are unchanged and are
estimated to be 630 million pounds of contained copper (107 Mt at
0.27% copper) as at December 31, 2021.
Mineral ResourcesMeasured and
indicated copper mineral resources total an estimated 5,783 million
pounds of contained copper (1,032 Mt at 0.20% copper). The copper
mineral resources are located at the Mount Milligan Mine, the Berg
Property, the Kemess Underground, and Kemess East properties, all
which are located in Canada. All measured and indicated copper
mineral resource figures in this section are presented exclusive of
mineral reserves.
Mount MilliganAt the Mount Milligan Mine,
measured and indicated mineral resources increased by 453 million
pounds of contained copper to an estimated 974 million pounds (284
Mt at 0.16% copper) as at December 31, 2021. The increase in
measured and indicated mineral resources resulted from an updated
resource estimate upon the completion of the 2021 in-fill drilling
program.
KemessAt Kemess, measured and indicated mineral
resources are unchanged at 2,107 million pounds of contained copper
as at December 31, 2021. The Kemess Underground measured and
indicated mineral resources total an estimated 697 million pounds
of contained copper (174 Mt at 0.18% copper) and Kemess East
measured and indicated mineral resources total an estimated 1,410
million pounds of contained copper (178 Mt at 0.36% copper).
Inferred Copper Mineral
ResourcesCenterra’s inferred copper mineral resource
estimate totals 539 million pounds of contained copper (108 Mt at
0.16% copper). This includes an estimated 47 million pounds of
contained copper (17 Mt at 0.19% copper) at Mount Milligan that
represents a year-over-year increase of 19 million pounds of
contained copper due to a revised resource estimation and
classification. At Kemess inferred copper mineral resources include
210 million pounds of contained copper (48 Mt at 0.20% copper) at
Kemess Underground and 203 million pounds of contained copper (29
Mt at 0.31%) at Kemess East, both unchanged from December 31,
2020.
Inferred mineral resources have a great amount
of uncertainty as to their existence and as to whether they can be
mined economically. It cannot be assumed that all or part of the
inferred mineral resources will ever be upgraded to a higher
category.
GoldfieldOn February 22, 2022,
the Company announced that it had entered into a definitive
agreement to acquire the Goldfield District Project (“Goldfield”)
from Waterton Nevada Splitter, LLC. Goldfield consists of three
known deposits: Gemfield, Goldfield Main and McMahon Ridge.
Centerra is aware that a previous NI 43-101 technical report was
published in 2013 on the Goldfield property by a previous
owner. Centerra has reviewed that report and subsequent
studies on the project as part of its due diligence and expects to
further refine and update that work before announcing a resource
estimate (expected in the first half of 2023) and an updated
feasibility study thereafter.
Table 1 (see additional footnotes on page
7)Centerra Gold Inc. 2021 Year-End Mineral Reserve
and Resources Summary – Gold
(1)(as at December 31, 2021)
Proven and Probable Gold Mineral Reserves |
|
Proven |
Probable |
Total Proven and Probable |
Property |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Mount Milligan (4) |
107,444 |
0.39 |
1,342 |
42,531 |
0.36 |
496 |
149,975 |
0.38 |
1,838 |
Öksüt |
494 |
1.23 |
20 |
30,034 |
1.16 |
1,123 |
30,528 |
1.16 |
1,143 |
Kemess Underground |
- |
- |
- |
107,381 |
0.50 |
1,868 |
107,381 |
0.50 |
1,868 |
Total |
107,938 |
0.39 |
1,362 |
179,946 |
0.60 |
3,487 |
287,884 |
0.52 |
4,849 |
|
Measured and Indicated Gold Mineral Resources
(2) |
|
Measured |
Indicated |
Total Measured and Indicated |
Property |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Mount Milligan (4) |
134,531 |
0.31 |
1,331 |
149,426 |
0.30 |
1,428 |
283,957 |
0.31 |
2,759 |
Öksüt |
17,720 |
0.50 |
283 |
- |
- |
- |
17,720 |
0.50 |
283 |
Kemess Underground |
- |
- |
- |
173,719 |
0.31 |
1,737 |
173,719 |
0.31 |
1,737 |
Kemess East |
- |
- |
- |
177,500 |
0.40 |
2,305 |
177,500 |
0.40 |
2,305 |
Total |
152,251 |
0.33 |
1,614 |
500,645 |
0.34 |
5,470 |
652,896 |
0.34 |
7,084 |
|
Inferred Gold Mineral Resources
(3) |
|
Property |
Tonnes(kt) |
Grade(g/t) |
Contained Gold (koz) |
Mount Milligan (4) |
17,232 |
0.37 |
203 |
Öksüt |
1,215 |
0.44 |
17 |
Kemess Underground |
47,700 |
0.34 |
529 |
Kemess East |
29,300 |
0.30 |
283 |
Total |
95,447 |
0.34 |
1,032 |
1) Centerra’s equity interests as of this news
release are as follows: Mount Milligan 100%, Öksüt 100%, Kemess
Underground and Kemess East 100%. Numbers may not add up due to
rounding2) Mineral resources are in addition to mineral reserves.
Mineral resources do not have demonstrated economic viability.3)
Inferred mineral resources have a great amount of uncertainty as to
their existence and as to whether they can be mined economically.
It cannot be assumed that all or part of the inferred mineral
resources will ever be upgraded to a higher category.4) Production
at Mount Milligan is subject to a streaming agreement with RGLD
Gold AG and Royal Gold, Inc. (collectively, “Royal Gold”) which
entitles Royal Gold to 35% of gold sales from the Mount Milligan
Mine. Under the stream arrangement, Royal Gold will pay $435 per
ounce of gold delivered. Mineral reserves and resources for the
Mount Milligan property are presented on a 100% basis.
Table 2 (see additional footnotes on page
7)Centerra Gold Inc. 2021 Year-End Mineral Reserve
and Resources Summary - Other Metals (1)
(as at December 31, 2021)
Property |
Tonnes(kt) |
Copper Grade
(%) |
Contained Copper (Mlbs) |
Molybdenum Grade
(%) |
Contained Molybdenum(Mlbs) |
SilverGrade(g/t) |
Contained Silver(koz) |
Proven Mineral Reserves |
Mount Milligan (4) |
107,444 |
0.23 |
534 |
- |
- |
- |
- |
Probable Mineral Reserves |
Mount Milligan (4) |
42,531 |
0.21 |
201 |
- |
- |
- |
- |
Kemess Underground |
107,381 |
0.27 |
630 |
- |
- |
1.99 |
6,878 |
|
Total Proven and Probable Mineral Reserves |
Mount Milligan (4) |
149,975 |
0.22 |
736 |
- |
- |
- |
- |
Kemess Underground |
107,381 |
0.27 |
630 |
- |
- |
1.99 |
6,878 |
Total Copper and Silver |
257,356 |
0.24 |
1,366 |
- |
- |
0.77 |
6,878 |
|
Measured Mineral Resources
(2) |
Mount Milligan (4) |
134,531 |
0.16 |
479 |
- |
- |
- |
- |
Berg(5) |
176,384 |
0.36 |
1,391 |
0.03 |
132 |
3.02 |
17,152 |
Kemess Underground |
- |
- |
- |
- |
- |
- |
- |
Kemess East |
- |
- |
- |
- |
- |
- |
- |
Thompson Creek |
57,645 |
- |
- |
0.07 |
92 |
- |
- |
Endako |
47,100 |
- |
- |
0.05 |
48 |
- |
- |
|
Indicated Mineral Resources
(2) |
Mount Milligan (4) |
149,426 |
0.15 |
495 |
- |
- |
- |
- |
Berg(5) |
220,284 |
0.27 |
1,311 |
0.03 |
161 |
3.08 |
21,799 |
Kemess Underground |
173,719 |
0.18 |
697 |
- |
- |
1.55 |
8,632 |
Kemess East |
177,500 |
0.36 |
1,410 |
- |
- |
1.97 |
11,240 |
Thompson Creek |
59,498 |
- |
- |
0.07 |
85 |
- |
- |
Endako |
122,175 |
- |
- |
0.04 |
118 |
- |
- |
|
Total Measured and Indicated Mineral Resources
(2) |
Mount Milligan (4) |
283,957 |
0.16 |
974 |
- |
- |
- |
- |
Berg(5) |
396,668 |
0.31 |
2,702 |
0.03 |
293 |
3.05 |
38,951 |
Kemess Underground |
173,719 |
0.18 |
697 |
- |
- |
1.55 |
8,632 |
Kemess East |
177,500 |
0.36 |
1,410 |
- |
- |
1.97 |
11,240 |
Total Copper and Silver |
1,031,844 |
0.20 |
5,783 |
0.02 |
636 |
1.39 |
58,823 |
Thompson Creek |
117,143 |
- |
- |
0.07 |
177 |
- |
- |
Endako |
169,275 |
- |
- |
0.04 |
166 |
- |
- |
|
Inferred Mineral Resources
(3) |
Mount Milligan (4) |
17,232 |
0.19 |
47 |
- |
- |
- |
- |
Berg(5) |
13,982 |
0.26 |
79 |
0.02 |
5 |
4.39 |
1,971 |
Kemess Underground |
47,700 |
0.20 |
210 |
- |
- |
1.65 |
2,530 |
Kemess East |
29,300 |
0.31 |
203 |
- |
- |
2.00 |
1,880 |
Total Copper and Silver |
108,214 |
0.16 |
539 |
0.02 |
50 |
1.27 |
6,381 |
Thompson Creek |
806 |
- |
- |
0.04 |
1 |
- |
- |
Endako |
47,325 |
- |
- |
0.04 |
44 |
- |
- |
1) Centerra’s equity interests as of this news
release are as follows: Mount Milligan 100%, Kemess Underground
100%, Kemess East 100%, Berg 100%, Thompson Creek
100%, and Endako 75%. Numbers may not add up due to rounding.2)
Mineral resources are in addition to mineral reserves. Mineral
resources do not have demonstrated economic viability.3) Inferred
mineral resources have a great amount of uncertainty as to their
existence and as to whether they can be mined economically. It
cannot be assumed that all or part of the inferred mineral
resources will ever be upgraded to a higher category.4) Production
at Mount Milligan is subject to a streaming agreement which
entitles Royal Gold to 18.75% of copper sales from the Mount
Milligan Mine. Under the stream arrangement, Royal Gold will pay
15% of the spot price per metric tonne of copper delivered. Mineral
reserves and resources for the Mount Milligan property are
presented on a 100% basis.5) In December 2020, the Berg property
was optioned to a third party which has the right to acquire a 70%
interest in the property over a period of up to five years.
Table 3 - Centerra Gold Inc. (see
additional footnotes on page 7)Reconciliation of
Mineral Reserves and Mineral
Resources(1)(2)
– Contained Gold (koz) as at December 31, 2021
|
December 31,2020
(2) |
2021Throughput(3) |
2021
Addition(Deletion)(4) |
December 31,2021 |
Proven and Probable Gold Mineral Reserves |
Mount Milligan |
2,148 |
306 |
(4) |
1,838 |
Öksüt(5) |
1,136 |
196 |
203 |
1,143 |
Kemess Underground |
1,868 |
- |
- |
1,868 |
Kumtor Open Pit |
6,013 |
- |
(6,013) |
- |
Total |
11,166 |
502 |
(5,814) |
4,849 |
Measured and Indicated Gold Mineral Resources |
Mount Milligan |
1,396 |
- |
1,363 |
2,759 |
Öksüt(5) |
230 |
- |
53 |
283 |
Kemess Underground |
1,737 |
- |
- |
1,737 |
Kemess East |
2,305 |
- |
- |
2,305 |
Kumtor Open Pit |
2,280 |
- |
(2,280) |
- |
Total |
7,948 |
- |
(864) |
7,084 |
Inferred Gold Mineral
Resources(6) |
Mount Milligan |
78 |
- |
125 |
203 |
Öksüt(5) |
23 |
- |
(6) |
17 |
Kemess Underground |
529 |
- |
- |
529 |
Kemess East |
283 |
- |
- |
283 |
Kumtor Open Pit and Underground |
4,465 |
- |
(4,465) |
- |
Total |
5,378 |
- |
(4,346) |
1,032 |
1) Centerra’s equity interests as of this news
release are as follows: Mount Milligan 100%, Öksüt 100%, Kemess
Underground and Kemess East 100%. As previously reported, Centerra
is no longer in control of the Kumtor Mine.2) Mineral reserves and
mineral resources reported in Centerra’s Annual Information Form
filed in March 2021. Centerra reports mineral reserves and mineral
resources separately. The amount of reported mineral resources does
not include those amounts identified as mineral reserves. Mineral
resources do not have demonstrated economic viability. Numbers may
not add due to rounding.3) Corresponds to process plant feed at
both Mount Milligan and Öksüt.4) Changes in mineral reserves or
mineral resources, as applicable, are attributed to: (i) changes to
metal price and foreign exchange assumptions, (ii) information
provided by drilling and subsequent reinterpretation and
reclassification of mineral resources, and (iii) changes to cost
estimates and metallurgical recoveries.5) Öksüt open pit mineral
reserves and mineral resources include the Keltepe and Guneytepe
deposits.6) Inferred mineral resources have a great amount of
uncertainty as to their existence and as to whether they can be
mined economically. It cannot be assumed that all or part of the
inferred mineral resources will ever be converted to a higher
category.
Additional Footnotes for Tables 1, 2,
3 General
- A conversion factor of 31.1035
grams per troy ounce of gold is used in the mineral reserve and
mineral resource estimates.
Mount Milligan
- The mineral reserves have been
estimated based on a gold price of $1,350 per ounce, copper price
of $3.00 per pound and an exchange rate of 1USD:1.30CAD.
- The open pit mineral reserves are
estimated based on an NSR cut-off of $7.64 per tonne (C$9.55 per
tonne) and takes into consideration metallurgical recoveries,
concentrate grades, transportation costs, smelter treatment charges
and royalty and streaming arrangements in determining economic
viability.
- The mineral resources have been
estimated based on a gold price of $1,550 per ounce, copper price
of $3.50 per pound and an exchange rate of 1USD:1.30CAD.
- The open pit mineral resources are
constrained by a pit shell and are estimated based on a copper
equivalent basis which was equivalent to NSR cut-off of $7.35 per
tonne (C$9.55 per tonne) and takes into consideration metallurgical
recoveries, concentrate grades, transportation costs, smelter
treatment charges and royalty and streaming arrangements in
determining economic viability.
- Further information concerning the
Mount Milligan deposit, including key assumptions, parameters and
methods used to estimate mineral resources and mineral reserves, as
well as environmental and other risks are described in Centerra’s
most recently filed Annual Information Form and in the Mount
Milligan Mine Technical Report, dated March 26, 2020, each of which
has been filed on SEDAR at www.sedar.com and EDGAR at
www.sec.gov/edgar.
Öksüt
- The mineral reserves have been
estimated based on a gold price of $1,350 per ounce and an exchange
rate of 1USD:7.5TL.
- The open pit mineral reserves are
estimated based on 0.16 grams of gold per tonne cut-off grade.
- Open pit optimization used a tonne
weighted LOM metallurgical recovery of 77% (Keltepe Pit 75%,
Guneytepe Pit 85%).
- The mineral resources have been
estimated based on a gold price of $1,550 per ounce.
- Open pit mineral resources are
constrained by a pit shell and are estimated based on 0.16 grams of
gold per tonne cut-off grade.
- Further information concerning the
Öksüt deposit, including key assumptions, parameters and methods
used to estimate mineral resources and mineral reserves, as well as
environmental and other risks are described in Centerra’s most
recently filed Annual Information Form which is available on SEDAR
at www.sedar.com and EDGAR at www.sec.gov/edgar and the
Technical Report on the Öksüt Project, dated September 3, 2015,
which is available on SEDAR at www.sedar.com.
Kemess Underground
- The mineral reserves have been
estimated based on a gold price of $1,250 per ounce, copper price
of $3.00 per pound and an exchange rate of 1USD:1.25CAD.
- The mineral reserves are estimated
based on an NSR cut-off of C$17.30 per tonne and takes into
consideration metallurgical recoveries, concentrate grades,
transportation costs and smelter treatment charges in determining
economic viability.
- The mineral resources have been
estimated based on a gold price of $1,450 per ounce, copper price
of $3.50 per pound and an exchange rate of 1USD:1.25CAD.
- The mineral resources are estimated
based on an NSR cut-off of C$15.00 per tonne and takes into
consideration metallurgical recoveries, concentrate grades,
transportation costs and smelter treatment charges.
- Further information concerning the
Kemess Underground deposit is described in the technical report
dated July 14, 2017 and filed on SEDAR at www.sedar.com by AuRico
Metals Inc. The technical report describes the exploration history,
geology and style of gold mineralization at the Kemess Underground
deposit. Sample preparation, analytical techniques, laboratories
used and quality assurance-quality control protocols used during
the exploration drilling programs are consistent with industry
standards and carried out by independent certified assay labs.
Kemess East
- The mineral resources have been
estimated based on a gold price of $1,450 per ounce, copper price
of $3.50 per pound and an exchange rate of 1USD:1.25CAD.
- The mineral resources are estimated
based on an NSR cut-off of C$17.30 per tonne and takes into
consideration metallurgical recoveries, concentrate grades,
transportation costs and smelter treatment charges.
- Further information concerning the
Kemess East project is described in the technical report dated July
14, 2017 and filed on SEDAR by AuRico Metals Inc. The technical
report describes the exploration history, geology and style of gold
mineralization at the Kemess East project. Sample preparation,
analytical techniques, laboratories used and quality
assurance-quality control protocols used during the exploration
drilling programs are consistent with industry standards and
carried out by independent certified assay labs.
Thompson Creek
- The mineral resources have been
estimated based on a molybdenum price of $14.00 per pound.
- The open pit mineral resources are
constrained by a pit shell and are estimated based on 0.030%
molybdenum cut-off grade.
Endako
- The mineral resources have been
estimated based on a molybdenum price of $14.00 per pound and an
exchange rate of 1USD:1.25CAD.
- The open pit mineral resources are
constrained by a pit shell and are estimated based on 0.025%
molybdenum cut-off grade.
Berg
- The mineral resources have been
estimated based on a copper price of $3.50 per pound, molybdenum
price of $14.00 per pound, silver price of 21.00 per ounce and an
exchange rate of 1USD:1.25CAD.
- The open pit mineral resources are
constrained by a pit shell and are estimated based on 0.25% copper
equivalent cut-off grade that takes into consideration
metallurgical recoveries, concentrate grades, transportation costs,
and smelter treatment charges in determining economic
viability.
Qualified PersonSlobodan (Bob)
Jankovic, Professional Geoscientist, member of the Association of
Professional Geoscientists of Ontario (APGO) and Centerra’s Senior
Director, Technical Services, has reviewed and approved the
scientific and technical information related to mineral reserves
and resources estimates contained in this news release. Mr.
Jankovic is a Qualified Person within the meaning of Canadian
Securities Administrator’s National Instrument 43-101 Standards of
Disclosure for Mineral Projects (“NI 43-101”).
All mineral reserve and resources have been
estimated in accordance with the standards of the Canadian
Institute of Mining, Metallurgy and Petroleum and NI 43-101.
Mineral reserve and mineral resource estimates
are forward-looking information and are based on key assumptions
and subject to material risk factors. If any event arising from
these risks occurs, the Company’s business, prospects, financial
condition, results of operations or cash flows and the market price
of Centerra’s shares could be adversely affected. Additional risks
and uncertainties not currently known to the Company, or that are
currently deemed immaterial, may also materially and adversely
affect the Company's business operations, prospects, financial
condition, results of operations or cash flows and the market price
of Centerra’s shares. See the section entitled “Risk Factors” in
the Company’s annual Management’s Discussion and Analysis
(MD&A) for the year-ended December 31, 2021, available on SEDAR
at www.sedar.com and EDGAR at www.sec.gov/edgar and see also the
discussion below under the heading “Caution Regarding
Forward-looking Information”.
2021 Fourth Quarter Exploration
Update
Exploration activities in the fourth quarter of
2021 included drilling, surface sampling, geological mapping and
geophysical surveying at the Company’s various projects and earn-in
properties, targeting gold and copper mineralization in Canada,
Turkey, Finland and the United States of America.
Exploration expenditures at the Company’s
continuing operations for the year and for the quarter were $37.4
million and $9.2 million, respectively. The activities were focused
on expanded drilling programs at the Mount Milligan Mine and the
Öksüt Mine, as well as at the Sivritepe Project, which is a
greenfield exploration property located in north-eastern
Turkey.
Mount Milligan Mine
The 2021 diamond drilling program at the Mount
Milligan Mine totalled 39,505 metres in 68 drill holes (13,914
metres in 27 exploration drill holes and 25,591 metres in 41
resource expansion drill holes). Primary brownfield exploration
targets included zones below the current ultimate open-pit
boundary, i.e., MBX Deep and WBX Deep, and on the eastern margin of
the open-pit, i.e., Great Eastern Fault (“GEF”) zone, where
positive drilling results were returned in 2019 and 2020.
Mount Milligan Brownfield Drilling and
Exploration
Exploration and resource expansion drilling
continued in the fourth quarter of 2021 with the completion of 22
diamond drill holes totalling 15,445 metres. Fifteen drill holes,
totalling 10,024 metres, were completed in the MBX and WBX Deep
zones resource expansion/exploration targets below the current
ultimate open-pit boundary in the central portion of the deposit.
Three drill holes, totalling 2,568 metres, were completed in the
DWBX zone planned for resource expansion on the western pit wall.
Four drill holes, totalling 2,853 metres, were completed in the GEF
zone, testing for both shallow mineralization associated with the
GEF, and deeper porphyry mineralization associated with the
underlying Great Eastern stock.
Complete or partial assay results were returned
for 22 drill holes, including results from 8 holes drilled in the
third quarter of 2021 and 14 holes drilled in the fourth quarter of
2021. These include potential significant mineralization from below
the ultimate open-pit boundary in the MBX and WBX Deep zones, and
along the western margin of the open-pit in the DWBX zone.
Selected significant intersections are reported
below:
MBX and WBX Deep Zones (central portion of the
open-pit)
21-1349 |
71.1 metres @ 0.67 g/t Gold (“Au”), 0.24% Copper (“Cu”) from 3.7
metres including 12.0 metres @ 1.22 g/t Au, 0.36% Cu from 36.0
metres93.0 metres @ 0.35 g/t Au, 0.31% Cu from 168.0 metres60.0
metres @ 1.15 g/t Au, 0.03% Cu from 267.0 metresincluding 16.4
metres @ 2.06 g/t Au, 0.03% Cu from 306.0 metres |
21-1339 |
40.9 metres @ 0.13 g/t Au, 0.11% Cu from 24.0 metres72.0 metres @
0.28 g/t Au, 0.14% Cu from 159.0 metres |
21-1342 |
73.3 metres @ 0.23 g/t Au, 0.18% Cu from 9.1 metres101.5 metres @
0.17 g/t Au, 0.16% Cu from 88.1 metres |
21-1344 (partial results) |
76.0 metres @ 0.26 g/t Au, 0.15% Cu from 3.0 metres22.0 metres @
0.15 g/t Au, 0.18% Cu from 87.0 metres |
21-1345 |
53.3 metres @ 0.23 g/t Au, 0.17% Cu from 3.7 metres50.3 metres @
0.70 g/t Au, 0.24% Cu from 262.7 metresincluding 13.0 metres @ 1.03
g/t Au, 0.17% Cu from 299.0 metres |
21-1348 |
17.0 metres @ 1.05 g/t Au, 0.11% Cu from 6.0 metresincluding 11.00
metres @ 1.47 g/t Au, 0.12 Cu from 8.0 metres58.6 metres @ 0.30 g/t
Au, 0.27% Cu from 186.0 metres |
21-1351 |
62.1 metres @ 0.16 g/t Au, 0.08% Cu from 7.9 metres148.0 metres @
0.47 g/t Au, 0.17% Cu from 211.0 metresincluding 14.0 metres @ 1.46
g/t Au, 0.17% Cu from 304.0 metres |
21-1352 |
63.0 metres @ 0.24 g/t Au, 0.24% Cu from 37.0 metres |
21-1353 |
45.3 metres @ 0.38 g/t Au, 0.17% Cu from 3.7 metres |
21-1354 (partial results) |
112.2 metres @ 0.71 g/t Au, 0.34% Cu from 424.3 metres |
21-1355 (partial results) |
29.0 metres @ 0.27 g/t Au, 0.30% Cu from 3.0 metres31.0 metres @
0.14 g/t Au, 0.24% Cu from 42.0 metres45.5 metres @ 0.31 g/t Au,
0.05% Cu from 141.5 metres |
21-1356 (partial results) |
152.5 metres @ 0.35 g/t Au, 0.06% Cu from 6.4 metres |
DWBX Zone (western margin of the open-pit)
21-1335 |
113.0 metres @ 0.22 g/t Au, 0.17% Cu from 260.0 metres 59.9 metres
@ 0.23 g/t Au, 0.14% Cu from 375.1 metres119.0 metres @ 0.46 g/t
Au, 0.37% Cu from 490.0 metres |
21-1336 |
196.5 metres @ 0.33 g/t Au, 0.35% Cu from 84.5 metres88.0 metres @
0.38 g/t Au, 0.61% Cu from 290.0 metres |
21-1337 |
53.1 metres @ 0.17 g/t Au, 0.24% Cu from 319.0 metres42.0 metres @
0.16 g/t Au, 0.28% Cu from 396.0 metres |
21-1338 |
15.3 metres @ 1.10 g/t Au, 0.34% Cu from 318.7 metres50.2 metres @
0.30 g/t Au, 0.35% Cu from 339.5 metres |
21-1340 |
26.0 metres @ 0.68 g/t Au, 0.10% Cu from 145.0 metres183.0 metres @
0.27 g/t Au, 0.37% Cu from 198.0 metres |
21-1346 (partial results |
90.0 metres @ 0.22 g/t Au, 0.31% Cu from 80.0 metres42.0 metres @
1.22 g/t Au, 0.26% Cu from 230.0 metresincluding 22.6 metres @ 1.96
g/t Au, 0.11% Cu from 239.4 metres |
21-1350 (partial results) |
181.7 metres @ 0.92 g/t Au, 0.27% Cu from 333.0 metres53.0 metres @
0.32 g/t Au, 0.44% Cu from 541.0 metres |
Assay results returned from the MBX Deep zone
during the fourth quarter of 2021 show wide intercepts of
potentially significant mineralization below the ultimate open-pit
boundary. Porphyry-style mineralization is associated with potassic
altered latite-andesite units in the footwall of the MBX monzonite
porphyry stock. All lithologies are variably crosscut by early,
transitional, and late-stage veins. To date, the tested dimensions
of the MBX Deep zone are approximately 200 metres (north-northeast
to south-southwest) by 140 metres (east to west) with an average
width of 110 metres, for significant intervals, and potential to
expand to the south and to the east. A second series of fault-bound
monzonite porphyry intrusions with potassic alteration ±
mineralized early veins have been drilled at depth underlying the
ultimate pit boundary and the MBX stock by approximately 400 metres
to 600 metres.
Assay results returned from the DWBX zone during
the fourth quarter show wide intercepts of porphyry-style
mineralization along the western margins of the ultimate pit
boundary, with narrow intercepts of vein associated high gold-low
copper mineralization. Porphyry-style mineralization is associated
with potassic alteration and early quartz veins within the DWBX
composite stock and the stock margins. A moderately west-dipping
hydrothermal breccia body has been identified at shallow depth in
host volcanic rocks in the northern part of the DWBX zone. This
feature is believed to be associated with emplacement of porphyry
stocks and remains to be tested down-dip to the west and into the
Goldmark stock footwall volcanic rocks. Results returned from the
DWBX zone in 2021 show potential for resource expansion to the west
of the current ultimate pit boundary.
The above mineralized intercepts were calculated
using a cut-off grade of 0.1 g/t Au or 0.1% Cu and a maximum
internal dilution interval of 4.0 metres. Significant assay
intervals reported represent apparent widths due to the undefined
geometry of mineralization in this zone, relationship between fault
blocks, and conceptual nature of the exploration target. Drill
collar locations and associated graphics are available at the
following link:
https://ml.globenewswire.com/media/63702a77-3ee8-4dac-b4c3-ccff21f3d4a7/document/?v=02242022094200
A full listing of the drill results, drill hole
locations and plan map (including the azimuth, dip of drill holes,
and depth of the sample intervals) for the Mount Milligan Mine have
been filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar
and are available on the Company’s website at
www.centerragold.com.
Öksüt Mine
During the fourth quarter of 2021, 55 drill
holes totalling 12,812 metres were completed before the end of the
2021 diamond drilling campaign in November. In the fourth quarter
of 2021, drilling program mainly focused on developing the Keltepe
North (“Keltepe N”) and Keltepe Northwest (“Keltepe NW”) oxide gold
satellite resources and targeting geochemical gold and geophysical
anomalism at the Büyüktepe, Yelibelen and Boztepe prospects. In
addition to these areas, the drilling in the fourth quarter
confirmed the discovery of a new mineralized zone, Keltepe
North-Northwest (“Keltepe NNW”), which has the potential to be
another satellite deposit.
A total of 31,525 metres in 159 drill holes were
completed in the 2021 drilling program. The 2021 drilling program
contributed to increased resource expansion and development around
the known deposits (Keltepe, Güneytepe, Keltepe N and Keltepe NW).
The oxide gold mineralization that has been delineated at Keltepe
N, Keltepe NW and now at Keltepe NNW requires additional infill
drilling, which will commence in the first quarter of 2022.
All the outstanding core samples were dispatched
to the assay lab by the end of the year. As the priority was given
to the analysis of samples from Keltepe N, Keltepe NW, and Keltepe
NNW, most of the assay results from Büyüktepe, Yelibelen and
Boztepe prospects are still pending. Significant mineralized
intercepts were received from Keltepe N, Keltepe NW and Keltepe
NNW. Selected significant intersections are reported below:
Keltepe North (resource expansion oxide
gold)
ODD0574 |
55.0 metres @ 0.93 g/t Au from 126.4 metres including 6.0
metres @ 3.32 g/t Au from 147.2 metres |
ODD0591 |
16.7 metres @ 1.20 g/t Au from 15.7 metres including 13.0
metres @ 1.4 g/t Au from 15.7 metres |
ODD0614 |
42.3 metres @ 1.21 g/t Au from 26.7 metres including 13.5
metres @ 2.37 g/t Au from 27.5 metres |
ODD0616 |
37.3 metres @ 0.53 g/t Au from 11.4 metres including 5.0
metres @ 1.14 g/t Au from 22.0 metres |
Keltepe North-West (resource expansion oxide
gold)
ODD0596 |
33.0 metres @ 0.48 g/t Au from 65.7 metres |
ODD0620 |
36.0 metres @ 0.87 g/t Au from 10.7 metres including 23.8
metres @ 1.18 g/t Au from 21.8 metres |
ODD0622 |
19.3 metres @ 0.3 g/t Au from 22.9 metres |
Keltepe North-Northwest (oxide gold)
ODD0593 |
68.9 metres @ 0.41 g/t Au from 18.6 metres |
ODD0612 |
91.7 metres @ 0.33 g/t Au from 62.5 metres |
The above mineralized intercepts were calculated
using a cut-off grade of 0.2 g/t Au and a maximum internal dilution
interval of 5.0 metres. The true widths of the mineralized
intervals reported represent approximately 60% to 90% of the stated
downhole interval. Drill collar locations and associated graphics
are available at the following link:
https://ml.globenewswire.com/media/63702a77-3ee8-4dac-b4c3-ccff21f3d4a7/document/?v=02242022094200
A full listing of the drill results, drill hole
locations and plan map (including the azimuth, dip of drill holes,
and depth of the sample intervals) for the Öksüt Mine have been
filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar and
are available on the Company’s website at www.centerragold.com.
Other Projects Turkey
Sivritepe Project
The 2021 diamond drilling program was completed
with a further 20 drill holes being drilled in the fourth quarter
for a total of 4,662 metres. A total of 15,459 metres in 62 drill
holes were completed in 2021. Drilling mainly targeted gold-in-soil
geochemical anomalism and succeeded in identifying multiple
mineralized zones. Drilling at the two major prospects, Sivritepe
West and Sivritepe East, was specifically designed to be able to
define potential gold resources. The drilling data received to date
indicates that the identified mineralized zones are still open
along strike and at depth and need to be targeted by infill and
step-out drilling in the 2022 drilling season.
In the fourth quarter of 2021, drilling was
focused on the Sivritepe West Prospect, where the extent of the
east-west trending gold mineralized zone was outlined at surface by
a nearly one km long gold-in-soil geochemical anomaly. It is
interpreted that gold mineralization is related to the contact
between magmatic-hydrothermal breccias and trachy-andesitic
intrusive rocks. All the drill holes returned anomalous oxide
and/or sulfide gold mineralized intervals.
Selected significant intersections are reported
below:
Sivritepe West (oxide gold)
STW0026 |
12.5 metres @ 0.56 g/t Au from 8.0 metres including 3.5 metres
@ 1.47 g/t Au from 13.6 metres |
STW0027 |
35.0 metres @ 0.40 g/t Au from the surface |
STW0028 |
22.0 metres @ 0.47 g/t Au from 47.0 metres including 4 metres
@ 1.67 g/t Au from 64 metres |
STW0040 |
48.0 metres @ 0.30 g/t Au from 37.0 metres including 6.9 metres @
1.4 g/t Au from 46.0 metres |
Sivritepe West (sulfide gold)
STW0022 |
51.1 metres @ 0.41 g/t Au from 137.0 metres including 6.0
metres @ 1.53 g/t Au from 148.0 metres |
STW0024 |
26.6 metres @ 0.60 g/t Au from 247.0 metres including 5.6
metres @ 1.39 g/t Au from 248.0 metres |
STW0039 |
16.7 metres @ 2.34 g/t Au from 199.3 metres including 10.0
metres @ 3.8 g/t Au from 205.0 metres |
The above mineralized intercepts were calculated
using a cut-off grade of 0.1 g/t Au and a maximum internal dilution
interval of 5.0 metres. The true widths of the mineralized
intervals reported represent approximately 30%-85% of the stated
downhole interval and averages around 60%. Drill collar locations
and associated graphics are available at the following link:
https://ml.globenewswire.com/media/63702a77-3ee8-4dac-b4c3-ccff21f3d4a7/document/?v=02242022094200
A full listing of the drill results, drill hole
locations and plan map (including the azimuth, dip of drill holes,
and depth of the sample intervals) for the Sivritepe Project have
been filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar
and are available on the Company’s website at www.centerragold.com.
.
BC Generative/New Projects
2XFred Project
The Two Times Fred (“2XFred”) project, located
in the Nechako Plateau of Central British Columbia, is an earn-in
project under option from Kootenay Resources Inc.
The 2021 Phase-2 diamond drilling program began
late in the third quarter and was completed in the fourth quarter
of 2021. The entire Phase-2 program comprised 4,704 metres of
drilling in 15 drill holes. In the fourth quarter of 2021, there
were 3,842 metres drilled in 12 drill holes. Drilling tested
geophysical anomalies and areas with coincident near-surface
kaolinite clay alteration for low-sulfidation epithermal
gold-silver vein mineralization over a strike distance of 2.4
kilometres. Five target zones were tested, including Borrow Pit,
Saki, Shinju, Western and Gold Hill zones. As of the end of the
quarter, all final assay results are pending.
Additional exploration activities in the fourth
quarter included the completion of a controlled-source audio
frequency magnetotellurics survey (CSAMT; 26.6 line-kilometres), a
tensor AMT survey (four line-kilometres), an induced polarization
survey (1.8 line-kilometres), and a ground magnetic survey (33
line-kilometres).
Qualified Person & QA/QC –
Exploration
Exploration information and related scientific
and technical information in this document regarding the Mount
Milligan Mine were prepared in accordance with the standards of NI
43-101 and were prepared, reviewed, verified, and compiled by
Cheyenne Sica, Member of the Association of Professional
Geoscientists Ontario, Exploration Manager at Centerra’s Mount
Milligan Mine, who is the qualified person for the purpose of NI
43-101. Sample preparation, analytical techniques, laboratories
used, and quality assurance and quality control protocols used
during the exploration drilling programs are done consistent with
industry standards while independent certified assay labs are used.
The Mount Milligan Mine’s deposit is described in the 2020 AIF and
a technical report dated March 26, 2020 (with an effective date of
December 31, 2019) prepared in accordance with NI 43-101, both of
which are available on SEDAR at www.sedar.com and EDGAR at
www.sec.gov/edgar
Exploration information, and related scientific
and technical information, in this document, with respect to the
Öksüt Mine and the Sivritepe Project, were prepared, reviewed,
verified and compiled in accordance with NI 43-101 by Mustafa
Cihan, Member of the Australian Institute of Geoscientists and
Exploration Manager at the Company’s Turkish subsidiary Centerra
Madencilik A.Ş., who is the qualified person for the purpose of NI
43-101. Sample preparation, analytical techniques, laboratories
used, and quality assurance and quality control protocols used
during the exploration drilling programs are done consistent with
industry standards while independent certified assay labs are used.
The Öksüt deposit is described in the Company’s 2020 AIF, which is
available on SEDAR at www.sedar.com and EDGAR
at www.sec.gov/edgar and in a technical report dated
September 3, 2015 (with an effective date of June 30, 2015)
prepared in accordance with NI 43-101, which is available on SEDAR
at www.sedar.com.
Exploration information, and other related
scientific and technical information in this document, with respect
to 2XFred and other BC generative projects, were prepared in
accordance with the standards of NI 43-101 and were prepared,
reviewed, verified, and compiled by C. Paul Jago, Member of
Engineers and Geoscientists British Columbia and Exploration
Manager - Generative North America, who is the qualified person for
the purpose of NI 43-101. Sample preparation, analytical
techniques, laboratories used, and quality assurance and quality
control protocols used during the exploration drilling programs are
done consistent with industry standards while independent certified
assay labs are used.
Caution Regarding Forward-Looking
InformationInformation contained in this news release
which are not statements of historical facts, and the documents
incorporated by reference herein, may be “forward-looking
information” for the purposes of Canadian securities laws. Such
forward-looking information involves risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward looking information. The words “believe”, “expect”,
“anticipate”, “contemplate”, “target”, “plan”, “intends”,
“continue”, “budget”, “estimate”, “may”, “will”, “schedule” and
similar expressions identify forward-looking information. These
forward-looking statements relate to, among other things, mineral
reserve and mineral resource estimates, life of mine estimates and
operating and capital costs; future exploration potential; timing
and scope of future exploration (brownfields or greenfields); and
anticipated costs and expenditures and other information that is
based on forecasts of future operational or financial results,
estimates of amounts not yet determinable, and assumptions of
management. Forward-looking information is necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by Centerra, are inherently subject to significant
political, business, economic and competitive uncertainties and
contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward-looking
information. For a full list of the risk factors that can affect
the Company, see its management’s discussion and analysis for the
year ended December 31, 2021 and its most recently filed annual
information form.
Market price fluctuations in gold, copper and
other metals, as well as increased capital or production costs or
reduced recovery rates may render ore reserves containing lower
grades of mineralization uneconomic and may ultimately result in a
restatement of mineral reserves. The extent to which mineral
resources may ultimately be reclassified as proven or probable
mineral reserves is dependent upon the demonstration of their
profitable recovery. Economic and technological factors which may
change over time always influence the evaluation of mineral
reserves or mineral resources. Centerra has not adjusted mineral
resource figures in consideration of these risks and, therefore,
Centerra can give no assurances that any mineral resource estimate
will ultimately be reclassified as proven and probable mineral
reserves.
Mineral resources are not mineral reserves, and
do not have demonstrated economic viability, but do have reasonable
prospects for economic extraction. Measured and indicated mineral
resources are sufficiently well defined to allow geological and
grade continuity to be reasonably assumed and permit the
application of technical and economic parameters in assessing the
economic viability of the resource. Inferred mineral resources are
estimated on limited information not sufficient to verify
geological and grade continuity or to allow technical and economic
parameters to be applied. Inferred mineral resources are too
speculative geologically to have economic considerations applied to
them to enable them to be categorized as mineral reserves. There is
no certainty that mineral resources of any category can be upgraded
to mineral reserves through continued exploration.
Centerra’s mineral reserve and mineral resource
figures are estimates and Centerra can provide no assurances that
the indicated levels of gold or copper will be produced or that
Centerra will receive the metal prices assumed in determining its
mineral reserves. Such estimates are expressions of judgment based
on knowledge, mining experience, analysis of drilling results and
industry practices. Valid estimates made at a given time may
significantly change when new information becomes available. While
Centerra believes that these mineral reserve and mineral resource
estimates are well established and the best estimates of Centerra’s
management, by their nature mineral reserve and mineral resource
estimates are imprecise and depend, to a certain extent, upon
analysis of drilling results and statistical inferences which may
ultimately prove unreliable. If Centerra’s mineral reserve or
mineral reserve estimates for its properties are inaccurate or are
reduced in the future, this could have an adverse impact on
Centerra’s future cash flows, earnings, results or operations and
financial condition.
Centerra estimates the future mine life of its
operations. Centerra can give no assurance that mine life estimates
will be achieved. Failure to achieve these estimates could have an
adverse impact on Centerra’s future cash flows, earnings, results
of operations and financial condition.
There can be no assurances that forward-looking
information and statements will prove to be accurate, as many
factors and future events, both known and unknown could cause
actual results, performance or achievements to vary or differ
materially, from the results, performance or achievements that are
or may be expressed or implied by such forward-looking statements
contained herein or incorporated by reference. Accordingly, all
such factors should be considered carefully when making decisions
with respect to Centerra, and prospective investors should not
place undue reliance on forward looking information.
Forward-looking information is as of February 25, 2022. Centerra
assumes no obligation to update or revise forward looking
information to reflect changes in assumptions, changes in
circumstances or any other events affecting such forward-looking
information, except as required by applicable law.
About CenterraCenterra Gold
Inc. is a Canadian-based gold mining company focused on operating,
developing, exploring and acquiring gold properties in North
America, Turkey, and other markets worldwide. Centerra operates two
mines: the Mount Milligan Mine in British Columbia, Canada, and the
Öksüt Mine in Turkey. While the Company still owns the Kumtor Mine
in the Kyrgyz Republic, it is currently no longer under the
Company’s control. The Company also owns the pre-development stage
Kemess Underground Project in British Columbia, Canada and owns and
operates the Molybdenum Business Unit in the United States.
Centerra's shares trade on the Toronto Stock Exchange (“TSX”) under
the symbol CG and on the New York Stock Exchange (“NYSE”) under the
symbol CGAU. The Company is based in Toronto, Ontario, Canada.
For more information:Toby Caron Treasurer and
Director, Investor Relations (416) 204-1694
toby.caron@centerragold.com
Shae FrosstManager, Investor Relations(416)
204-2159shae.frosst@centerragold.com
Additional information on Centerra is
available on the Company’s website at
www.centerragold.com and at SEDAR
at www.sedar.com and EDGAR
at www.sec.gov/edgar.
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