Caledonia Mining Corporation says it has discovered a significant and near surface gold mineralisation at an unexploited zone, following exploration at its flagship Blanket Mine.
“This mineralized zone has not been exploited in the underground mine and represents an opportunity for low-cost heap leaching operations of the near surface oxide material, with potential for a sulphide extension below any potential oxide open pit,” chief executive Mark Learmoth said.
The presence of near-surface oxide mineralisation is particularly significant because it may be amenable to conventional heap leach processing, potentially offering a lowercost route to extracting gold compared to underground mining.
He said exploration results suggest the mineralisation may represent a new orebody that has not previously been exploited by the underground mine.
“Further drilling is planned to assess the continuity and extent of the mineralised system at depth,” Learmoth said, adding that “follow-up drilling is planned from both surface and underground platforms to test potential extensions of the mineralisation at depth”.