Caledonia Mining notches record gold production from Zimbabwe’s Blanket mine

By Agencies

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) hailed record quarterly gold production from the Blanket Mine in Zimbabwe.

In the three months ending 30 September, the mine produced 21,772 ounces of gold, up 3% on the same period a year earlier.

With this taking the total so far this calendar year to 55,244 ounces, the company reiterated its guidance for between 75,000 and 80,000 ounces of gold for the full year.

Chief executive Mark Learmonth said: “We have invested heavily in Blanket over the last seven years, including investment this year to construct a new tailings storage facility which is expected to have a life of at least 15 years, based on the current production profile, and will support production well into the future.”

Results so far from ongoing underground drilling indicate that there is additional mineralisation that he said might have the potential to be accessed using the current infrastructure and so further extend Blanket’s life.

“Blanket continues to provide a solid foundation for the company, providing us with a platform for our other growth projects in Zimbabwe,” he added.