• Mon. Jul 22nd, 2024

Caledonia optimistic about results from extension drilling

ByEconomic Times

Jul 11, 2023

By ETimes

Current underground drilling at the Blanket Mine in Zimbabwe, according to Caledonia Mining Corporation, showed that the Eroica target ore body continued at depth with greater widths and higher grades than anticipated.

Between January 2023 and the end of May, the miner drilled 5,600 metres, with an additional 12,900 metres scheduled for the rest of 2023.

Initial findings show that the current Eroica ore deposit persists at depth with usually greater grades and widths than anticipated.

Due to subsurface logistical challenges and the effect of Covid-19 on contractor operations, deep level drilling at Blanket Mine was put on hold some years ago.

Deep level drilling commenced in January 2023 after the Central Shaft and associated infrastructure were finished, with a focus on the Eroica ore body, where a crosscut was dug to provide the best access to drill the deeper zones of the steeply dipping ore body.

“The Central Shaft and related infrastructure are vital not only to increase production, but to give us the capacity to re-start exploration with a view to extending the life at Blanket Mine.

“We have invested heavily in Blanket Mine in the last 7 years, including investment in 2023 (which will be continued in 2024) in a new tailings facility with an anticipated life of approximately 14 years, to create a mine infrastructure which can sustain production beyond the current production horizon.

 “These results are very encouraging and we look forward to receiving results from extension drilling at the Blanket ore bodies and also from the next phase of drilling,” Mark Learmonth, Caledonia’s Chief Executive Officer, commented on the initial drilling results.

Gold miner Caledonia Mining Corporation PLC has a high growth profile and generates healthy cash flow. The Blanket Mine in Zimbabwe is the company’s main asset.

At Blanket, Caledonia produced 80,000 ounces of gold in 2022, meeting its long-term goal. At Bilboes, also in Zimbabwe, it has also added a sizeable new resource base – Harare

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