Business / Companies
Banket Mine upgrades its mineral resources and reserves
07 Jul 2011 at 03:26hrs | Views
Blanket Gold Mine in Gwanda has upgraded its mineral resources and reserves. The mine says the results are in line with its current efforts to ramp up output both in the short-to-medium term and in the long run.
Blanket Mine now has NI43-101 reserves totalling 3,84 million tonnes grading 3,78g per tonne (g/t), for 467 200 ounces of contained gold.
This comprises proven reserves of 1,3 million tonnes at 4,02g/t for 171 400 ounces and probable reserves of 2,5 million tonnes at 3,66g/t for 295 800 ounces of contained gold.
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In terms of resources, in this category Blanket mine has 510 000 tonnes grading 3,79g/t for 62 100 grams per tonne.
Meanwhile in the inferred resource category there are 2,4 million tonnes at 5,27 grams per tonne - contained metal was not reported for NI43-101 inferred resources.
South African consultants MSA Group produced the reserve and resource report.
Toronto-listed Caledonia Mining Corporation owns Blanket Mine.
The group is currently expanding its operations at the Blanket mine, where it is currently ramping up production at Blanket to an annualised 40 000 ounces a year.
More significantly, beyond the current ramp-up, Caledonia is working towards an ambitious programme to expand production further, which is ultimately targeting a 100 000 ounce a year run-rate by 2015.
It is currently sinking one new shaft and rehabilitating three others on two of its highly prospective brown-field satellite zones, which is seven kilometres from Blanket's metallurgical plant, and the Mascot Project Area, which is 42 kilometres away.
It is also developing the 22-Level Haulage, which is essentially a horizontal tunnel 750 metres below surface that will provide access for further exploration of the up-dip and down-dip extensions of the mine's known main ore bodies above and below this depth.
The new developments mean that any incremental ore produced from the Blanket mine and its satellite properties could be immediately processed without any requirement for new investment in its existing metallurgical plant, due to the substantial surplus capacity.
Caledonia has set aside US$4 million for exploration at Blanket mine this year and early 2012.
Blanket Mine now has NI43-101 reserves totalling 3,84 million tonnes grading 3,78g per tonne (g/t), for 467 200 ounces of contained gold.
This comprises proven reserves of 1,3 million tonnes at 4,02g/t for 171 400 ounces and probable reserves of 2,5 million tonnes at 3,66g/t for 295 800 ounces of contained gold.
WIN YOUR TICKET FOR THE BOSSO versus CELTIC Match
In terms of resources, in this category Blanket mine has 510 000 tonnes grading 3,79g/t for 62 100 grams per tonne.
Meanwhile in the inferred resource category there are 2,4 million tonnes at 5,27 grams per tonne - contained metal was not reported for NI43-101 inferred resources.
South African consultants MSA Group produced the reserve and resource report.
Toronto-listed Caledonia Mining Corporation owns Blanket Mine.
The group is currently expanding its operations at the Blanket mine, where it is currently ramping up production at Blanket to an annualised 40 000 ounces a year.
More significantly, beyond the current ramp-up, Caledonia is working towards an ambitious programme to expand production further, which is ultimately targeting a 100 000 ounce a year run-rate by 2015.
It is currently sinking one new shaft and rehabilitating three others on two of its highly prospective brown-field satellite zones, which is seven kilometres from Blanket's metallurgical plant, and the Mascot Project Area, which is 42 kilometres away.
It is also developing the 22-Level Haulage, which is essentially a horizontal tunnel 750 metres below surface that will provide access for further exploration of the up-dip and down-dip extensions of the mine's known main ore bodies above and below this depth.
The new developments mean that any incremental ore produced from the Blanket mine and its satellite properties could be immediately processed without any requirement for new investment in its existing metallurgical plant, due to the substantial surplus capacity.
Caledonia has set aside US$4 million for exploration at Blanket mine this year and early 2012.
Source - Blanket Mine
