Project UpdateJul 23, 2026, 06:07 AM
Caledonia Mining discovers new gold zone at Blanket mine
AI Summary
Caledonia Mining Corporation Plc announced significant surface exploration results at its Blanket mine, defining a previously unrecognized gold zone at the K-Pits target. This new zone contains both oxide and sulphide mineralization and may represent a new orebody not exploited by the underground mine. The company is conducting metallurgical test work for low-cost heap leaching of the near-surface oxide material, with preliminary results being encouraging. An updated Blanket resource statement is expected in August 2026, and a trial heap leach operation is planned for the second half of 2026.
Key Highlights
- Surface drilling at Blanket mine's K-Pits confirmed a new gold zone with both oxide and sulphide mineralization.
- The new zone is approximately 200 meters east of the nearest projected underground orebody, suggesting a previously unexploited system.
- Metallurgical test work for oxide material's amenability to conventional heap leaching is underway, with encouraging preliminary results.
- Caledonia plans to publish an updated Blanket resource statement in August 2026, incorporating these surface exploration results.
- A trial heap leach operation on an initial 10,000 tonnes of material is intended for H2 2026 if test work is successful.
- Selected drilling highlights include 23.00m at 2.61g/t (oxide) and 16.00m at 6.04g/t (sulphide).
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