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Friday, February 23, 2024
HomeBusinessBlanket Mine Boasts Deep-Level Drilling Success, Extending Mine Life Prospects

Blanket Mine Boasts Deep-Level Drilling Success, Extending Mine Life Prospects

Emirates

Caledonia Mining Corporation Plc has announced positive results from its deep-level drilling program at Blanket Mine, Zimbabwe, exceeding expectations and indicating a potential increase in the overall mineral resource.

Over 7,600 meters drilled between June and December 2023 revealed wider and higher-grade ore bodies than anticipated, particularly in holes ERC750EX, BLK930EX2308, BLK930EX2310, BLK870EX2303, and ARS1110EX2304.

“These results are extremely promising,” said Mark Learmonth, CEO of Caledonia. “We expect this will translate to an increased resource, ultimately extending the mine’s lifespan.”

Exploration focused on the Blanket and Eroica ore bodies, with strategically placed crosscuts enabling access to deeper zones. Drilling reached depths of 1,110 meters below the surface, showcasing potential for long-term mine development.

Caledonia’s significant investment in Blanket over the past seven years has bolstered production capacity, ensuring the mine’s sustainability beyond its current horizon. The company remains committed to keeping stakeholders informed as the project progresses.

A revised mineral resource and reserve statement is expected in the second quarter of 2024, aiming to extend the mine life without altering the targeted annual production rate. Detailed data on each drill hole and visual representations are available in Appendix 2 of the press release.

This discovery signifies positive news for Caledonia and the future of Blanket Mine, demonstrating the potential for continued growth and production.

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