Caledonia Mining Corp PLC - Zimbabwe-focused gold producer - Reports encouraging results from deep level drilling programme at Blanket Mine. Says a total of 7,652 metres of drilling from June to December indicates that the existing Blanket and Eroica ore bodies have grades and widths which are generally better than expected. Says total drilling for 2023 was 13,280 metres. Chief Executive Officer Mark Learmonth says: ‘Our ongoing drilling campaign continues to demonstrate encouraging results, further improving our confidence in the Blanket resource. We anticipate that the positive grades and widths will result in an increased overall resource, which in due course should result in the extension of the existing life of the mine. We have invested heavily in Blanket over the last seven years to increase production capacity, resulting in a mine infrastructure that can sustain production beyond the current production horizon.’
Current stock price: 915.50 pence, up 4.0%
12-month change: down 18%
Copyright 2024 Alliance News Ltd. All Rights Reserved.
