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New gold discovery in Egypt

Centamin Egypt has found an extremely high grade zone of gold mineralization during its exploration project in the Eastern desert, reported AHN. The company is developing Egypt's first large-scale modern gold mining project located, near the Red Sea coast. According to Centamin, the uncovered mineralized section currently sits outside the company's optimized pit shell. There is believed to be as much as $30m worth of gold under the hills in the Eastern desert of Egypt.