Caledonia Mining’s Motapa property now has a maiden mineral resource estimate containing 379,000 ounces of measured and indicated gold, plus 131,000 inferred ounces. The company said the resource demonstrates value created through exploration, with an estimated exploration discovery and Acquisition cost of approximately US$40.45 per measured and indicated resource ounce.

Key Highlights

  • Motapa carries a further inferred resource of 131,000 ounces of gold from 2.7 million tonnes at 1.48 g/t.
  • The measured and indicated estimate covers 7.8 million tonnes grading 1.51 g/t at a 0.5 g/t cut-off.
  • Caledonia Mining expects to place an NI 43-101 technical report on SEDAR+.

Maiden Resource Estimate Established

Caledonia Mining Corp Plc has established a maiden mineral resource estimate for its Motapa property in Zimbabwe. The property is 100%-owned by Caledonia, and the estimate is presented on a 100% project basis, making the reported figures applicable to the whole Motapa project.

The estimate contains 379,000 ounces of measured and indicated gold. It also includes a further 131,000 ounces classified as inferred, giving the project two reported resource categories under Caledonia’s NI 43-101 presentation.

Measured and Indicated Gold

The measured and indicated category represents the larger reported portion of Motapa’s resource estimate.

The classification forms part of the company’s NI 43-101 presentation for Motapa. Together with the inferred category, it establishes the resource information disclosed for the property in the article.

Inferred Resource Details

The inferred portion totals 2.7 million tonnes. Caledonia reported a grade of 1.48 g/t for this material, and stated that the same cut-off grade was used in the estimate.

The inferred category contains 131,000 ounces of gold. These figures describe the tonnage, grade and contained gold reported for the inferred portion, while the article separately identifies the measured and indicated ounces.

Project Ownership and Basis

Motapa is described as a 100%-owned property of Caledonia Mining in Zimbabwe. The company said the estimate is presented on a 100% project basis, so the disclosed resource figures relate to the entire property rather than a partial project interest.

This ownership and presentation basis accompanies both reported categories. The measured and indicated total, the inferred ounces, and the inferred tonnage and grade are therefore stated within the same project-level framework described by Caledonia.

NI 43-101 Presentation

Caledonia’s disclosure reports two resource categories for Motapa under its NI 43-101 presentation. Those categories are measured and indicated, containing 379,000 ounces, and inferred, containing a further 131,000 ounces. It identifies the inferred tonnage as 2.7 million tonnes at 1.48 g/t and notes that the same cut-off grade was applied.

Exploration and Acquisition Cost

The article identifies an exploration and acquisition cost of $40.45 per ounce for the project. That figure is presented in connection with the Motapa estimate and the company’s exploration and acquisition activities.

Chief Executive Officer Mark Learmonth described the estimate as a significant milestone. He said the identified resources demonstrate value created through exploration activities, linking the disclosed resource outcome with the work undertaken by Caledonia.

Management Commentary

Learmonth’s comments focus on the significance of establishing the estimate at Motapa. His statement characterizes the identified resources as evidence of value created through exploration activities, without adding further resource categories, grades or tonnage figures.

The announcement therefore combines the maiden estimate with management’s assessment of its importance. The disclosed information remains centered on the 379,000 measured and indicated ounces, the 131,000 inferred ounces, and the detailed inferred resource of 2.7 million tonnes at 1.48 g/t.

Source(s)

  • https://www.sec.gov/Archives/edgar/data/766011/000168316826006763/caledonia_6k.htm