Caledonia Mining Corporation Plc (NYSE: CMCL) has announced gold production from its Blanket Mine in Zimbabwe for the quarter ended 30 September 2023. All production numbers are expressed on a 100% basis and are based on the final assay at the refiners.
Commenting on the announcement, Mark Learmonth, CEO, said: “I am pleased that Blanket is performing well, and we have set a new quarterly production record. I look forward to achieving our guidance of between 75,000oz and 80,000oz of gold for 2023.
The company’s quarterly gold production hit 21,772oz, a new quarterly record for Blanket mine, this was the result of an increase of 3% on the 21,120oz produced in the corresponding quarter of 2022.
Overall, gold produced in the nine months to the end of September was 55,244oz. Additionally, Caledonia reiterates its gold production guidance for 2023 of between 75,000oz and 80,000oz.
“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. The recent encouraging drill results at Blanket indicate that there is additional mineralisation that may, in due course, be accessed using the current infrastructure and which should further extend the life of Blanket. Blanket continues to provide a solid foundation for the company, providing us with a platform for our other growth projects in Zimbabwe.” Added Mark.
Craig James Harvey, MGSSA, MAIG, Caledonia Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a “Qualified Person” as defined by each of (i) the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act.
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