Caledonia Mining Corporation has announced a maiden mineral resource estimate for its Motapa property in Zimbabwe. The estimate identifies a measured and indicated resource of 7.8 million tonnes. This resource features an average grade of 1.51 g/t gold. It contains a total of 379,000 ounces of gold.
The property holds an additional inferred resource of 2.7 million tonnes. This inferred portion averages 1.48 g/t gold. It accounts for a further 131,000 ounces of gold. Discovery and acquisition costs for the measured and indicated ounces average $40.45 per ounce.
CEO Mark Learmonth highlighted that Motapa sits adjacent to the company’s Bilboes Gold Project. This proximity offers potential for a larger unified operation. The new resource could also extend the production lifespan of the Bilboes project.