3rd Dec 2015 08:54
LONDON (Alliance News) - Caledonia Mining Corp on Thursday said it has received a resource estimate upgrade for the Blanket Mine project in Zimbabwe.
Based on the diamond core drilling carried out at the project in the past six months, another 222,000 tonnes of new gold inventory has been addeded to the indicated resource category for the project, plus another 283,000 tonnes to the inferred resource category.
"This upgrade reflects the company's increased focus on resource development at Blanket mine as we progress with the revised investment plan that will boost production levels from 2016 onwards," said Caledonia Chief Executive Steve Curtis.
Shares in Caledonia were up 2.7% to 42.60 pence Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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