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Caledonia Mining Corporation Plc
Summary
| Project: | Blanket Mine | |
|---|---|---|
| Deposit: | Blanket Mine | |
| Location: | Zimbabwe | |
| Commodities: | Gold | |
| Date: | 7/28/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-7-2016: 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, July 28, 2016. Caledonia Mining Corporation Plc | |
| Resources: | (Resource, M+I): 4.855Mt @ 4.23g/t Au for 660879oz Au contained at Blanket | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | St Helier, July 28, 2016. 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. Based on the diamond core drilling that has been done at depth below the Blanket Section over the past half year, 343,000 tonnes have been upgraded from the Inferred to the Indicated Resource category and an additional 1,276,000 tonnes of new inventory has been added to Inferred Resources. This upgraded Indicated Resource of 343,000 tonnes, combined with the resources upgraded during 2015, have increased the quantum of reserves and indicated resources that may be used in the life of mine plan from 2,934,000 tonnes used for the Technical Report prepared by Minxcon in December 2014, to 4,889,000 tonnes currently and represents an increase of 67% per cent in terms of mineable tonnes and hence in the life of the mine. After the update announced today, Blanket Mine’s resources have increased both in terms of Indicated Resources and Inferred Resources; see new totals in the following table. The decline in Measured Resources is due to the production depletion for the first half year and will be recomputed at the end of the year. | |
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