Mineral resources at Caledonia’s Blanket mine increase by 12%
The measured and indicated mineral resources at Caledonia Mining’s 64%-owned Blanket mine, in Zimbabwe, have increased by 12% to 902 000 oz.
Proven and probable mineral reserves also increased by 1% to 528 000 oz.
South African advisory company Minxcon was commissioned by Caledonia to produce an updated mineral resource and mineral reserve estimation based on existing data, but reflecting the completion of the Central shaft, historic mining and taking the opportunity to further digitise data and embrace the latest analytical tools.
The company notes that the estimates report validates the company’s medium-term production profile of 80 000 oz/y from 2022.
“Today’s announcement marks an additional milestone in the record of growing mineral resources and successfully converting inferred mineral resources into the measured and indicated category to keep extending the life-of-mine at Blanket since its inception in 1906.
“A 1% increase in the proven and probable mineral reserves and a 12% increase in measured and indicated resources after mining depletion, of 84 925 oz, is a continuation of securing the long-term future of Blanket,” says CEO Steve Curtis.
“Now that the Central shaft is completed, we will have the ability to do more deep-level exploration and we expect to replace the depleted mineral resources as we continue to go deeper, extending the life-of-mine, while achieving the 80 000 oz target from 2022 onwards,” he adds.
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