Blanket Mine’s gold output up 13%

Blanket Mine’s gold output up 13%
Published: 24 September 2018 (115 Views)
GOLD output at Blanket Mine in Matabeleland South increased by 13 percent from 714, 000 ounces in August 2017, to 805, 000 ounces as at July 2018 on the back of an ongoing resource upgrade exercise.

Parent company, Caledonia Mining Corporation, revealed in a recent update that total measured resource at the Gwanda-based mine now stood at 6,74 million tonnes at a grade of 3, 72 per tonne.

"Based on development and diamond core drilling that has been completed up to the end of July 2018 and combined with improvements to the geological model the total Measured and Indicated gold ounces at Blanket Mine have increased by 13 per cent from 714,000 ounces, in August 2017, to 805,000 ounces, as at July 2018," said Caledonia.

"Total Measured and Indicated resources now stand at 6,74 million tonnes at a grade of 3,72 grammes per tonne ("g/t"). Inferred gold resources at Blanket have been increased by nine per cent from 887,000 ounces, in August 2017, to 963,000 ounces, as at July 2018. Total Inferred resources now stand at 6,63 million tonnes at a grade of 4.52g/t."

Caledonia chief executive officer, Mr Steve Curtis, said the upgrade was a positive step in investing for the future of mine.

"Today's resource upgrade is yet another positive step in our journey as we invest for the long term future of Blanket. This upgrade takes our total resource endowment at the mine to almost 1,8 million ounces," he said.

"The increase in the Measured and Indicated resource base of 13 per cent to 805,000 ounces is good news for the longer term life of mine plan at Blanket. I am confident that the life of the mine will be further supplemented by resource additions and upgrades as a result of the increased exploration activity at Blanket in the future."

The resource upgrade marks the seventh successive year of sustained resource growth at Blanket Mine, said the company.

"Blanket mine's resources have grown by approximately 86 percent since 2011 despite mining over 300,000 ounces over this period. Blanket Mine's resources have increased both in terms of measured and indicated as well as inferred resources," it said.

- chronicle

Tags: Blanket, Mine, Gold,
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