HomeGoldCaledonia Mining achieves record gold production in Q3, 2017

Caledonia Mining achieves record gold production in Q3, 2017

All production numbers from Caledonia Mining are expressed on a 100% basis and are based on mine production data and are therefore subject to adjustment following final assay at the refiners.

Approximately 14 389 oz of gold were produced during the quarter, a new quarterly production record for the mine.

Production in the quarter was 15% higher than the previous quarter (Q2 2017) and 7% higher than the corresponding quarter of 2016 (Q3 2016).

The improvement in production in the third quarter is expected to continue into the fourth quarter.

The directors of Caledonia Mining are pleased to be able to narrow the range of the 2017 production guidance from 52 000 to 57 000 oz to a range of between 54 000 and 56 000 oz.

Caledonia Mining remains on track to achieve its production target of 80 000 oz in 2021.

“We are very pleased to have achieved yet another production record at Blanket, which surpasses the previous production record of 13 591 ounces set in the fourth quarter of 2016,” comments Caledonia Mining, CEO Steve Curtis.

“The Q3 2017 production of 14 389 oz is a commendable achievement for which I would like to acknowledge the hard work and dedication of our technical and production staff.

“The first half of 2017 presented Caledonia Mining with some significant operating challenges which adversely affected production.

“In May 2017 it was announced that our technical team was implementing various remedial measures aimed at alleviating the operating challenges and improving the reliability of our underground infrastructure.

“I am pleased to confirm that these measures implemented in the last three months have had the desired effect and have resulted in an improvement in both tonnage and grade at Blanket with associated higher production for the quarter.

“We are also pleased that the initiatives introduced to focus on the safe effective production of gold have been adopted fully by the Blanket work force.

“We expect these improvements to continue into the fourth quarter and as a result we have tightened our production guidance for the full year to 54 000 oz to 56 000 oz.

“We remain confident of achieving our long-term production target of 80 000 oz in 2021 as the Central Shaft project continues to progress well,” concludes Curtis.