Toronto, Canada — MININGREVIEW.COM — 11 November 2009 – Canadian-registered Caledonia Mining Corporation – an African focused mining company which owns the Blanket gold mine in Zimbabwe – has announced that the mine has been recognised with the "Exporter of the Year – Mining – Matabeleland Region" Award by the Zimbabwe National Chamber of Commerce.
Announcement of the award “’ based on figures supplied by the Reserve Bank of Zimbabwe “’ was made in a statement issued here by the company.
Caledonia Mining Corporation president and CEO Stefan Hayden commented: “This award is testament to the hard work of the entire team at Blanket Mine and Caledonia Mining, and vindicates the planning and implementation of the strategy whereby Blanket was rapidly able to restart and ramp-up gold production in Zimbabwe. This award re-confirms Blanket’s status as a significant participant in the Zimbabwean mining industry.”
Caledonia Mining Corporation re-launched gold production at the mine – which was placed on care and maintenance last October – earlier this year, It is preparing to increase output by close to 70% in the next year, and hopes to at least double that production level by 2014.
Blanket has a proven ore reserve of 1.3 million tonnes at a grade of 3.88 g/t Au, giving a total yield of 161 400 oz. This means a life of mine of eight years. But it also has a probable ore reserve of 2.5 million tonnes at a grade of 3.7 g/t Au for an additional yield of 303 400 oz. The total indicated and inferred resource amounts to another 3 million tonnes at grades ranging from 3.91 to 5.27 g/t Au.