Caledonia Mining Corporation, a key player in Zimbabwe’s gold mining industry, has reported better-than-expected results from its ongoing underground drilling campaign at the Blanket Mine, further strengthening the outlook for its flagship asset. The company holds a 64% ownership stake in the mine, located in Zimbabwe’s gold-rich Gwanda region.
Between January and April 2024, Caledonia completed 6,976 metres of resource expansion drilling targeting the Blanket, Eroica, and Lima orebodies—three of the mine’s most productive zones. The results revealed strong grades and widths, with some zones performing significantly better than anticipated.
Better Grades, Greater Confidence
“The grades and widths we are seeing from this drilling campaign are as good as—and in some cases, considerably better than—results from previous drilling campaigns,” said Caledonia CEO Mark Learmonth. “This is highly encouraging and reinforces our confidence in the continuity and quality of the mineralised zones.”
A particularly exciting development was the discovery of a new potential orebody within the Blanket orebody area, which showed “impressive” grades and widths, opening the door to further exploration and resource expansion.
The drilling campaign is also confirming that the Lima orebody extends beyond the 22 level (750 metres), providing additional opportunities for deep-level resource development. Furthermore, the programme aims to upgrade the mineral resource estimate below the 34 level (1,110 metres) and improve the overall confidence in the Blanket Mine’s long-term viability.
Strengthening the Life of Mine
Learmonth highlighted the strategic importance of these results for the mine’s longevity. “We anticipate that the positive grades and widths will result in an increased overall mineral resource estimate, which in due course should result in the extension of the existing life of mine,” he explained.
Over the past seven years, Caledonia has made substantial investments in infrastructure at Blanket Mine, aimed at increasing production capacity and ensuring sustainable operations. These investments are now paying off, as the mine continues to deliver high-grade gold and strong operational performance.
Future Outlook
With these latest drilling results, Caledonia is well-positioned to enhance its resource base and potentially extend the life of the Blanket Mine well into the future. The company’s commitment to responsible mining, local employment, and long-term resource planning continues to make it a vital contributor to Zimbabwe’s mining sector.
As exploration activities continue, stakeholders and investors are likely to watch closely for the updated mineral resource estimate, which could further boost confidence in one of Southern Africa’s most resilient gold operations.
