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Caledonia Mining Corporation Plc
Summary
| Project: | Blanket Mine | |
|---|---|---|
| Deposit: | Blanket Mine | |
| Location: | Zimbabwe | |
| Commodities: | Gold | |
| Date: | 11/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-11-2017: Caledonia Mining Corporation Plc announces a Resource Estimation report for its Blanket Mine deposit at the Blanket Mine project. Updated mineral resource estimate for the Blanket Mine. St Helier, November 2, 2017: Caledonia Mining Corporation | |
| Resources: | (Resource, M+I): 5.62Mt @ 3.95g/t Au for 714Koz Au contained at Blanket | |
| CP/QP: | [Resources]: Paul Matthews (Internal) | |
| ABSTRACT: | St Helier, November 2, 2017: Caledonia Mining Corporation Plc ("Caledonia" or the "Company") is pleased to announce an increase and upgrade to the resource base at its 49% owned subsidiary, the Blanket Mine in Zimbabwe ("Blanket"). Based on development and diamond core drilling carried out to the end of August 2017 combined with improvements to the geological model, total Measured and Indicated gold ounces at Blanket have increased by 6% from 671,000 ounces in December 2016 to 714,000 ounces today. Total Measured and Indicated resources now stand at 5.62 million tonnes at a grade of 3.95 grammes per tonne ("g/t"). Inferred gold resources at Blanket have been increased by 47% from 604,000 ounces in December 2016 to 887,000 ounces today. Total Inferred resources now stand at 5.53 million tonnes at a grade of 4.99g/t. The resource update has resulted in a modest decline in the average grade of the resource in the Indicated category (from 4.31g/t to 3.98g/t) as a result of additional infill drilling data, although the average resource grade remains well above the current mill feed grade. Caledonia expects the mined grade to trend upwards over time as higher-grade resources are accessed at depth. | |
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