AIM-listed Caledonia Mining Corporation has reported further encouraging results from the deep level drilling programme at Blanket Mine, with the campaign proving the continuation of the main orebodies at depth.
The drilling is intended to evaluate the continuity of the mineralised zones on the Blanket, Eroica and Lima ore bodies for the purposes of increasing confidence in the existing mineral resources and growing the mineral resource estimate beyond 34 level, which is at 1,110 metres below surface. These results follow the previously announced deep drilling results published on June 23, 2025.
Highlights
- 10,311.9 metres of deep level drilling completed between March and December 2025.
- Blanket and Eroica orebodies returned grades and widths consistent with, or better than, expectations.
- High grade intersections at depth, including multiple wide zones within the newly identified Blanket 7 (BLK7) orebody.
- Lima orebody confirmed to 34 level, supporting potential depth extensions.
- Results expected to increase mineral resource confidence and support future life of mine planning.
Highlights of the drill results are summarised in the table below.
The complete long hole drilling results for March 2025 to end of December 2025 are provided in Appendix 1.
Mark Learmonth, Caledonia's Chief Executive Officer, commented: "The latest results from our deep drilling programme reinforce the geological strength of Blanket Mine and demonstrate the continuity of mineralisation at depth across multiple orebodies. The consistency of grades and widths we are seeing, together with confirmation of the Lima orebody to 34 level, provides growing confidence in the scale and quality of the mineral resource below the current lowest levels of the mine.
"These outcomes support our longer-term planning efforts and highlight the value of the investments we have made, as we continue to improve mineral resource confidence and build a stronger foundation for the future of the mine and value creation for the business."
Commentary
The deep drilling at Blanket Mine continues to prove the continuation of the main orebodies at depths equivalent to the lowest levels of the mine and beyond. The density of drilling intersections is likely to upgrade inferred mineral resources to the indicated mineral resource category or better, providing a solid resource base for life of mine planning.
As reported on June 23, 2025, a new orebody was intersected on the multiple horizons of the Blanket orebody. This orebody has been termed Blanket 7 ("BLK7") and the intersections reported here highlight the excellent grades and widths that Blanket Mine can deliver. Drilling into virgin areas of the mine, where the shear zone is developed but untested with drilling, remains an important focus for the on-mine geology team. Of note, in the drillhole location image, certain drillholes have intersected the BQR at a depth below the current orebody models which mark the limit of measured, indicated or inferred mineral resources currently declared for Blanket Mine.
Deep drilling at Lima has shown the Lima orebodies extend to at least the 34-level horizon. The Lima orebody comprises up to 6 individual mineralised zones, not always developed together, and further infill drilling will delineate the spatial orientations of these orebodies.
The deep drilling results are expected to be incorporated into an updated mineral resource and mineral reserve statement during 2026.
