Blanket Mine produces record 56 000 ounces

Published: 16 January 2018

GWANDA-BASED gold mining concern, Blanket Mine last year achieved a record production of 56 135 ounces, a figure higher than the firm's production guidance of 56 000 ounces.

In a statement, the gold mine that is owned 49 percent by the Toronto Exchange-listed Caledonia Mining Corporation, said the 2017 production represents a new annual output record that was 11.4 percent higher than 2016 output.

"Total 2017 gold production was approximately 56 135 ounces, marginally ahead of 2017 production guidance of 54 000 – 56 000 ounces.

"2017 production represents a new annual production record for Blanket Mine, an increase of 11.4 percent over the annual gold production in 2016," said Caledonia.

The mining group also said in the fourth quarter of last year, about 16 425 ounces of gold were produced reflecting a new quarterly production record for the mine.

"Production in the quarter was 14 percent higher than the previous quarter (Q3 2017) which was itself a record production quarter, and 21 percent higher than the corresponding quarter of 2016 (Q4 2016)," it said.

Caledonia Mining Company chief executive officer Mr Steve Curtis was quoted saying:

"We are very pleased to have achieved our full year production guidance for 2017 and to have delivered a second consecutive quarterly production record at Blanket for the fourth quarter of 2017, surpassing the previous production record set in the third quarter.

"Full year production of 56 135 ounces for 2017 is a significant achievement especially when considering the relatively slow production we experienced in the first half of the year."

He said finishing the second half of the year with two quarterly production records and the production of almost 31 000 ounces of gold in the six months period was an achievement of which all of their technical and production staff should justifiably be proud of.

Mr Curtis said the development bodes well for the delivery of the company's expansion plans at Blanket Mine.

The mining group targets 80 000 ounces by 2021.

"As a business we remain steadfast in our commitment to the production of safe profitable gold and I am pleased that the initiative introduced during 2017 to focus on the safe production of gold have been adopted and fully supported by the Blanket Mine workforce."

"2017 was a pivotal year for Caledonia as we announced our plans to extend the central shaft project deeper with the resulting extension in mine life at Blanket following the encouraging exploration results that were achieved during the year," said Mr Curtis.

He said the 2017 production achievement would set their business up well for 2018 targeting output of between 55 000 and 59 000 ounces of gold.

Blanket Mine was also focused on increasing its life span by 20 years following the implementation of its mine development programme announced in 2014.

The mine development programme involves the deepening of its new shaft to 1 080 metres.
- chronicle

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