JOHANNESBURG (miningweekly.com) – Aim-listed Caledonia Mining on Tuesday announced an increase and upgrade to the gold resource base at its 49%-owned Blanket mine, in Zimbabwe.
The company has added 538 000 t to the 2.9-million tonnes of reserves and indicated resources, representing a tonnage increase of 17.4% and a 20.5% hike in contained gold.
This followed an upgrade of 491 000 t from the inferred to the indicated category and the addition of 47 000 t of new inventory to the indicated resource following drilling completed at depths below the AR Main and Blanket sections over the past year.
“This upgrade reflects an increased focus on resource development at the Blanket mine. The rate of exploration drilling has increased and will increase further when the new drill machines, which have already been ordered, are delivered and commissioned,” said Caledonia CEO Steve Curtis in a statement.
The increase led to the improvement of the resource split to 62% in the measured and indicated category and 38% in the inferred category, from the previous 55:45 split outlined in the preliminary economic assessment completed late in 2014.
“I am confident that the life-of-mine will be further supplemented by resource additions and upgrades as a result of the increased exploration activity, both at Blanket and also at the satellite projects,” concluded Curtis.