Vusumuzi Dube
Judith Phiri, Business Reporter
Caledonia Mining Corporation Plc has recorded encouraging results from deep level drilling at Blanket Mine with better than expected grades and widths anticipated to support increased overall resource at the mine.
In a statement on Tuesday, the company said the deep level drilling programme was currently evaluating the continuity of the mineralised zones.
“Caledonia Mining Corporation Plc is pleased to report further encouraging results from the deep level drilling programme at Blanket Mine which is currently evaluating the continuity of the mineralised zones on the Blanket and Eroica ore bodies in anticipation of delineating an increased overall resource.
“These results follow the Eroica ore body drilling results published on July 10, 2023. A total of 7 652 metres of drilling from June 2023 to end of December 2023 indicates that the existing Blanket and Eroica ore bodies have grades and widths which are generally better than expected. Total drilling for 2023 was 13 280 metres,” said Caledonia.
The chief executive officer (CEO), Mr Mark Learmonth said they have invested heavily in Blanket Mine over the last seven years to increase production capacity.
“Our ongoing drilling campaign continues to demonstrate encouraging results, further improving our confidence in the Blanket resource. We anticipate that the positive grades and widths will result in an increased overall resource, which in due course should result in the extension of the existing life of the mine. We have invested heavily in Blanket over the last seven years to increase production capacity, resulting in a mine infrastructure that can sustain production beyond the current production horizon,” he said.
“Drilling is currently focused on the Blanket and Eroica ore bodies, where crosscuts have been mined to allow optimal access to drill the deeper zones of the steeply-dipping ore bodies. These results are extremely promising and we look forward to the next phase of drilling and to updating the market accordingly.”
The company said these results, along with the outcome of further planned exploration, will be reflected in a revised mineral resource and mineral reserve statement which they expects to publish in the second quarter of 2024 together with a revised life of mine plan.
“It is anticipated that a portion of the existing inferred mineral resources will be upgraded to measured or indicated mineral resources together with the addition of new inferred mineral resources. It is expected that this will result in the existing life of mine being extended, rather than an increase in the target annual production rate,” it said.
Caledonia said drillholes at Eroica, drilled from 750 metres below surface, have intersected the orebodies to depths of 1 110 metres below surface, the lowest level of main infrastructure being developed from central shaft.
It said similarly, drill holes at Blanket from 750 metres below surface have intersected orebodies down to 1 110 metres below surface.
“Drillholes from 930 metres below surface at Blanket and from 1 110 metres below surface on AR South have intersected the orebodies below 1 110 metres, which is encouraging for Blanket’s longer-term development,” added the company.
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