Gold Resource Expansion
Caledonia Mining Reports 22 Percent Increase in Blanket Mine Resources and Reveals Motapa Estimate
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Key Points
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Blanket Mine has added near-surface mineral resources, including 22,000 oz of oxide (1,024 kt at 0.69 g/t) and 8,000 oz of sulphide (228 kt at 1.07 g/t), with heap-leach trial pads and environmental approvals already in progress to evaluate incremental near-term production.
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Blanket's underground measured and indicated resources total 2.178 million oz, contained in 17.7 million tonnes at a grade of 3.83 g/t, underpinning a revised Life of Mine plan and updated reserves.
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Caledonia disclosed Motapa's maiden NI 43-101 mineral resource estimate with a filing timeline: the company expects to file the technical report on SEDAR+ within 45 days.
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Motapa is adjacent to the Bilboes Gold Project, which is under development with first gold production expected by the end of 2028, and the Motapa project includes three main shear zones: Motapa North, Motapa Central, and Motapa South.
Caledonia Mining has lifted its Blanket Mine resource base by 22%, adding 410,000 ounces of gold to reach 2.178 million ounces in measured and indicated resources, according to Proactive Investors. The increase comes from deep drilling and development work, and the company is planning to restate its reserves and launch heap-leach trials on oxide ore to unlock near-term production.
In a separate move, Caledonia also announced a maiden mineral resource estimate for its adjacent Motapa property of 510,000 ounces of gold, with first production at the neighboring Bilboes Gold Project expected by the end of 2028, Mining Hub reported. The company plans to file Motapa's technical report on SEDAR+ within 45 days.
Blanket Mine Gets 22% Resource Boost From Deep Drilling
Caledonia's Blanket Mine now holds 2.178 million ounces of measured and indicated gold resources, contained in 17.7 million tonnes at a grade of 3.83 grams per tonne, Proactive Investors said. The 22% jump reflects aggressive underground exploration and development in recent years, positioning the mine for extended operations.
The company is also developing near-surface oxide and sulphide resources. These include 22,000 ounces of oxide ore and 8,000 ounces of sulphide ore, with heap-leach trial pads and environmental approvals already underway, according to Mining Hub. These additions support a revised life-of-mine plan and could add incremental near-term production without major capital spending.
Motapa Property Declares Maiden 510,000-Ounce Resource
Caledonia's wholly-owned Motapa property has now received a maiden mineral resource estimate of 510,000 ounces of gold across measured, indicated, and inferred categories, ADVFN reported. The resource sits in three main shear zones: Motapa North, Motapa Central, and Motapa South, offering multiple exploration targets for future drilling.
Motapa sits directly adjacent to the Bilboes Gold Project, which is under development with first production expected by end of 2028, according to Mining Hub. CEO Mark Learmonth highlighted the value creation from exploration and strategic acquisitions, using Bilboes and Motapa as proof of Caledonia's organic growth strategy in Zimbabwe.
Resource Estimates Support Extended Mine Life Across Zimbabwe
The combined resource growth at Blanket and the maiden Motapa estimate reflect Caledonia's broader expansion across Zimbabwe, Yahoo Finance noted. With Bilboes construction and funding underway, the company plans continued exploration across all three Motapa shear zones to feed the development pipeline.
Caledonia expects to file Motapa's technical report on SEDAR+ within 45 days, Mining Hub reported. The updated reserve estimates for Blanket, combined with near-term oxide ore trials and Motapa's maiden resource, position the company to extend mine life and deliver production growth through the end of this decade.
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