Caledonia Mining Corporation Plc this morning announced gold production from its 49 per cent owned subsidiary, the Blanket Mine in Zimbabwe, for the quarter ended 30 September 2016 . All production numbers are expressed on a 100 per cent basis and are based on mine production data and are therefore subject to adjustment following final assay at the refiners.
Approximately 13,430 ounces of gold were produced during the Quarter, representing a 23 per cent year on year increase on the gold produced in Q3 2015 (10,927 ounces) and a 7.4 per cent quarter on quarter increase on the gold produced in Q2 2016 (12,509 ounces).
Caledonia remains on track to meet production guidance for 2016 of 50,000 ounces and continues to progress towards its long term target of 80,000 ounces by 2021.
Caledonia is also pleased to announce that in terms of the ongoing investment programme at Blanket Mine, a new ball mill has been installed and the commissioning process is proceeding as anticipated. The new mill will increase daily throughput at the Blanket plant by 20 per cent, from 1,500 t/day to 1,800t/d, and will allow Blanket to meet its plan to double 2015 production to 80,000 ounces by 2021.
Commenting on the production for Q3 of 2016 and on the installation of the new ball mill, Steve Curtis, Caledonia’s Chief Executive Officer said:
“Production in the third quarter was in line with expectations, and shows that Caledonia and the Blanket Mine remain on track to deliver our target performance for 2016.
“Production in the Quarter includes production from higher grade material below 750 meters which is accessed via the No. 6 Winze and an additional decline development. This is further testament to the investments Caledonia has made to increase production flexibility and capacity over the past 18 months, which are now beginning to bear fruit as production from below 750 meters continues to increase.
“We are also pleased that the new mill, which was manufactured locally in Zimbabwe has been installed and the commissioning process is progressing as expected as it is an important step in increasing our production to 80,000 ounces over the next 4 years.”
