Blanket Mine on track to meet target of 50 000oz of gold this year

Blanket Mine, a 49 percent owned subsidiary of Canada-listed Caledonia Mining Corporation Plc, says gold production in the third quarter to September 30 was 7.4 percent up on the prior three months to 13 430 ounces.

Caledonia said the mine remains on track to meet its production target for the year of 50 000oz and the long-term target of 80 000oz by 2021.

Year-on-year, gold production was 23 percent up from Q3 2015 production of 10 927oz.

The miner said 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 tonnes of ore per day to 1 800 tonnes per day and will allow Blanket to meet its plan to double 2015 production by 2021.

Chief executive Steve Curtis said production in the third quarter was in line with expectations.

“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,” said Curtis.

“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.”- The Source

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