Caledonia Mining Corporation Plc: High Grade Drill Results at Blanket Mine

Core Viewpoint - Caledonia Mining Corporation Plc reports positive results from its ongoing resource expansion drill program at the Blanket Mine, indicating better-than-expected grades and widths in the mineralized zones, which may lead to an increased mineral resource estimate and extended mine life [1][5][6]. Group 1: Drilling Results - The ongoing drilling program has covered 6,976 meters from January 2024 to April 2025, revealing that the Blanket and Eroica orebodies have grades and widths generally better than expected, while the Lima orebody continues below the 22 level (750 meters) [2][5]. - A new potential orebody has been identified in the Blanket orebody area, with significant intersections including 31.8 meters at 6.71 g/t gold and 10.8 meters at 17.73 g/t gold [8][9]. Group 2: Future Prospects - The positive drilling results are expected to lead to an increased overall mineral resource estimate, which may extend the existing life of the mine [6][12]. - The company has invested heavily in the Blanket Mine over the past seven years to enhance production capacity, indicating a solid infrastructure to support future production [6][7]. Group 3: Exploration Plans - Future drilling will continue to evaluate the Blanket, ARM, and ARS orebodies down to the 38 level (1,230 meters) and beyond [21]. - A surface exploration project targeting the Banded Iron Formation (BIF) has commenced, with initial surveys indicating promising zones for further exploration [22][23].