JOHANNESBURG (miningweekly.com) – TSX- and Aim-listed Caledonia mining is planning to extend the depth of the Central shaft at its 49%-owned Blanket mine, in Zimbabwe, by 250 m to 1 330 m.
The extension, which will cost about $18-million, is expected to be commissioned by the first quarter of 2020.
Caledonia is still constructing the Central shaft and states that extending the shaft before it has been completed, equipped and commissioned is cheaper, quicker and less disruptive than a subsequent extension after commissioning.
The extension will add two further production levels than those already planned. The additional production levels will provide access to the indicated and inferred resources below 30 level and potentially increase Blanket's projected life-of-mine by a further four years to 2031.
“The creation of an additional two levels will increase the mining flexibility and further derisk the target production of 80 000 oz/y from 2021. This leaves Caledonia with a distinct window of opportunity to continue with its investment.
“We are very pleased that the record of sustained resource growth at Blanket, particularly the continued discovery of resources at depth with good grade continuity, supports an extension of the Central shaft project at Blanket.
“The Central shaft is already a transformational project for our business and to extend the project by an additional 250 m in depth including development on 34 and 38 levels will potentially secure Blanket's operating future for the next 20 years taking exploration potential into account,” commented CEO Steve Curtis.