All production numbers are expressed on a 100 percent basis and are based on mine production data and are therefore subject to adjustment following final assay at the refiners.
Approximately 16 425 oz of gold were produced during the quarter, a new quarterly production record for the mine.
Production in the quarter was 14% higher than the previous quarter (Q3, 2017) which was itself a record production quarter, and 21% higher than the corresponding quarter of 2016 (Q4, 2016).
Total 2017 gold production was approximately 56 135 oz, marginally ahead of 2017 production guidance of 54 000 – 56 000 oz.
2017 production represents a new annual production record for the Blanket gold mine, an increase of 11.4% over the annual gold production in 2016.
“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 gold mine for the fourth quarter of 2017, surpassing the previous production record set in the third quarter,” comments Caledonia Mining Corporation CEO Steve Curtis.
“Full year production of 56 135 oz for 2017 is a significant achievement especially when considering the relatively slow production we experienced in the first half of the year.
To finish the second half of the year with two quarterly production records and the production of almost 31 000 oz of gold in the six month period is an achievement of which all of our technical and production staff should be justifiably proud and bodes well for the delivery of our expansion plans at Blanket mine as we continue to invest for the production of 80 000 oz by 2021,” he adds.
“As a business we remain steadfast in our commitment to the production of safe profitable gold and I am pleased that the initiatives introduced during 2017 to focus on the safe production of gold have been adopted and fully supported by the Blanket work force.
“2017 was a pivotal year for Caledonia Mining Corporation as we announced our plans to extend the current central shaft project deeper with the resulting extension in mine life at Blanket following the encouraging exploration results that were achieved during the year.
“This production achievement will set the business up well for 2018 as we target production of between 55 000 and 59 000 oz of gold.
“I look forward to updating the market in due course.” Curtis continues.
Feature image credit: Wikimedia