Caledonia Mining updates resource at its Maligreen project in the Midlands province

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By Staff Reporter

Caledonia Mining Corporation has announced an upgrade to the mineral resources at its Maligreen site in the Midlands province following a year of reviewing geological work conducted at the property.

The Jersey-based but largely Zimbawbe-focused miner operates the highly successful Blanket gold mine which is located in Gwanda.

Since acquiring Maligreen in November last year, Caledonia mining had been working to evaluate the project in line with strategic and capital priorities for the business.

Caledonia Mining updated the market saying it had reported measures and indicated mineral resources of 8.03 million tonnes, at a grade of 1.71 grams per tonne, containing around 442,000 ounces of gold.

From evidence, mineral resources stood at 6.17 million tonnes at a grade of 2.12 grams per tonne, containing about 420,000 ounces of gold.

The mining company said it will continue to evaluate the potential of Maligreen whilst developing the project within the context of its plan pipeline and taking strategic priorities into account.

Caledonia Mining recently announced its new  Bilboes project, also located in the Zimbabwe Midlands, which they said was “far more advanced”.

“We are pleased to announce an upgrade to the mineral resources at Maligreen,” said chief executive officer Mark Learmonth.

“Today’s announcement, which improves the geological confidence of approximately half the mineral resources from inferred to measured and indicated mineral resources, supports our confidence in the project and its geological prospectivity.

“We expect to continue our evaluation work on the project, in line with other strategic and capital priorities for the business into the future as we build an attractive project and exploration pipeline in Zimbabwe,” he said.