Caledonia Mining Corporation Plc announced a significant discovery at its Blanket mine, revealing a previously unrecognised gold zone through surface drilling that could support a cost-effective heap leach operation alongside its current underground mining activities.

The newly identified K-Pits target includes both near-surface oxide material and deeper sulphide mineralisation. Highlights from the drilling include 23 metres grading 2.61 grams per tonne (g/t) gold from surface oxide material and 16 metres at 6.04 g/t gold from 29 metres depth in sulphides.

This mineralised system is located approximately 200 metres east of the nearest known underground orebody, suggesting it may be a separate deposit that has remained untouched by previous mining efforts. Metallurgical testing on the oxide material is currently underway, with preliminary results described as encouraging.

Mark Learmonth, Chief Executive of Caledonia Mining, stated, “Subject to acceptable recovery results, we plan to process an initial 10,000-tonne sample through a trial heap leach operation in the second half of 2026.”

An updated resource statement for the Blanket mine is expected in August, followed by further drilling to explore the depth extensions of this promising new zone.

This discovery presents an exciting opportunity for Caledonia Mining to expand its operations with potentially lower-cost processing methods, enhancing the overall value of the Blanket mine for investors and stakeholders.

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