Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has released an updated mineral resource for the Maligreen gold project in Zimbabwe.
The measured and indicated resource now stands at 8.03mln tonnes of ore grading 1.17 grams per tonne gold for 442,000 ounces of gold, while the inferred resource stands at 6.17mln tonnes grading 2.12 grams per tonne for 420,000 ounces.
Caledonia’s chief executive Mark Learmonth said that the evaluation work at Maligreen would continue, as the company also focusses on the new Bilboes project.