Caledonia Mining Corporation Plc reported encouraging high-grade results from its ongoing resource expansion drill program at the Blanket Mine, covering 6,976 meters of underground drilling from January 2024 to April 2025. The results indicate that the Blanket and Eroica orebodies have grades and widths generally better than expected, while the Lima orebody continues below the 22 level (750 meters).
A new potential orebody was intersected in the Blanket orebody area, with highlights including 31.8 meters (estimated true width of 24.73 meters) at 6.71 g/t gold and 10.8 meters (estimated true width of 5.93 meters) at 17.73 g/t gold. Infill drilling into the Blanket 1 Footwall orebody returned 13.2 meters at 25.06 g/t, significantly higher than the mineral resource model grade of approximately 4.64 g/t.
These positive results are anticipated to lead to an increased overall mineral resource estimate and an extension of the existing mine life, with a planned mineral resource update by year-end. Surface exploration targeting the Banded Iron Formation also yielded grab samples ranging from 0.59 to 32.12 g/t, indicating further potential.
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