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Canadian miner upgrades outlook for Zimbabwe gold mine
Canada’s Caledonia Mining has upgraded the resource base of its Blanket mine in Zimbabwe, stating that the total masured and indicated gold ounces increased by 13% from 714,000 oz to 805,000 oz.
“Today’s resource upgrade is yet another positive step in our journey as we invest for the long term future of Blanket. This upgrade takes our total resource endowment at the mine to almost 1.8 million ounces,”said Steve Curtis, the company’s chief executive, said in a statement. “I am confident that the life of mine will be further supplemented by resource additions and upgrades as a result of the increased exploration activity at Blanket in the future”.
Caledonia Mining says its shares are listed on the Toronto Stock Exchange and the NYSE American, and the company’s depositary interests in the shares are traded on London’s AIM market. Focused on Southern Africa, Caledonia’s primary asset is its stake in the Blanket mine.