OTCBB Symbol: EGDD
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Centurion Area
These properties are owned by the Company’s subsidiary, Centurion. The Centurion properties are sandwiched between the Sheba Hills area and the renowned Sheba Mine, which contains one of the highest grade ore bodies in the world.
The Centurion properties include the dormant Bonanza mine, a dormant, medium grade mine with 100,000 ounces of historical production. This mine, which is adjacent to the neighbouring Sheba Mine, will be tested for depth extensions of the ore body. While it is known that almost all gold deposits in the Barberton Goldfields continue at depth, the possible extension of the Bonanza mine in depth has never been tested. Accordingly, the possibility exists to discover significant additions to the Bonanza ore body which, if viable, can be processed at the Centurion mine site where the basic infrastructure currently exists. In this event, however, a new metallurgical processing plant would be required to be constructed.
Since further "blind" ore bodies may exist along the Sheba fault, a comprehensive exploration program is planned by the Company on this structure. In this same area, there are two other major gold producers; the Sheba Mine and the Fairview Mine.
