121148t 3.82g / t
13805t 3.15g / t
70722t 3.72g / t
140946t 4.15g / t
245016t 6.14g / t
159483t 9.03g / t
441399t 4.37g / t
58458t 4.48g / t
32875t 3.88g / t
78500t 3.74g / t
293033t 3.82g / t
10343t 3.81g / t
28371t 3.58g / t
48278t 3.98g / t
205107t 2.86g / t
263850t 3.16g / t
270593t 3.27g / t
366132t 3.29g / t
240587t 3.62g / t
19015t 3.13g / t
0 50 100 meters
Vent Raise 36623t 2.99g / t
81911t 3.77g / t
5515t 2.91g / t
107367t 3.44g / t
5555t 3.03g / t
Decline
24538t 3.36g / t
1158295t 3.9g / t
47782t 4.88g / t
22778t
14911t 2.93g / t 4.52g / t 89662t
4.02g / t
103570t 4.78g / t
204620t 4.27g / t
Ore Pass Raise
6 Shaft
1149435t 4.92g / t
7036t 3.74g / t
72096t 4.45g / t 22818t
3.07g / t
1500382t 4.86g / t
1146240t 5.18g / t
5707t 3.7g / t
45 236t 4.56g / t
OPERATION FOCUS
Blanket’ s CIL capacity is high because there used to be a tailings retreatment operation at the site which is no longer in operation as the tailings have been depleted
Major expansion
Central Shaft will be a 3,000 t / d, 6-m diameter, four-compartment shaft that will transport men, equipment and material from surface to 1,080 m below surface. It lies located between the AR Main and AR South orebodies, in the middle of Blanket’ s mining area. The shaft is being sunk in two simultaneous phases: from surface and from 750 m below surface. It provides access for horizontal development in two directions on two levels below 750 m.
The capital cost for Central Shaft is $ 23 million. Work commenced in August 2015 and is due for completion in June 2018. It will improve efficiency and de-risk the current single-shaft status. The broader project including new ball mill, horizontal development and the surface infrastructure and including sustaining capex over the course of the project is $ 70 million. With the increased investment pursuant to
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630ml
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870ml
990ml
1110ml
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Lima 11
CALEDONIA MINING CORPORATION BLANKET MINE( 1983)( PVT) LTD
Mineral Reserv
/ Resources As at 31-12-2016
17
Eroica
12
13
Sheet 10 the Revised Plan Caledonia Mining is targeting a rise in production from Inferred resources to 80,000 oz in 2021, this being in addition to projected production in 2021 from Proven and Probable mineral reserves of approximately 6,000 oz. The Revised Plan is also expected to improve Blanket’ s long term operational efficiency, flexibility and sustainability.
The Revised Plan includes a revised LOM plan for the Blanket in terms of which it is anticipated that the approximate production from existing Proven and Probable mineral reserves above 750 m level will be as shown.
The new Central Shaft and the deepening of No 6 Winze provide access to the current Inferred mineral resources below 750 m and allow for further exploration, development and mining in these sections along the known Blanket strike, which is some 3 km in length. The PEA has been prepared in respect of the inferred mineral resources below 750 m. Based on this, additional approximate production from current inferred mineral resources may be achieved. So, Blanket represents high margin operations with All-in Sustaining Costs( AISC) of $ 912 / oz for 2016. The operation is anticipated to produce 80,000 oz / y by 2021 at an AISC of between $ 700 and $ 800 / oz. The downward
AR M ain
15
9
14 AR South
Feudal 18
8
7
Blanket 3
16
4
6
No 3 Shaft
5
Shafts
1 Jethro
2 Jethro Winze
3 No 2 Main Incline
4 No 4 Shaft
5 No 5 Winze
6 6 Shaft
7 No 1 Orebody Shaft
8 BF Raisebore
9 AR
10 Sheet
11 Lima
12 Eroica winze
13 Eroica shaft
14 Central shaft
15 AR Main Vent Raise
16 Blanket Orepass Raise
17 Eroica Raise Bore
18 Feudal
Jethro
2
1
7 Level
9 Level
14 Level
18 Level
22 Level
26 Level
30 Level
34 Level
38 Level
Legend Levels Stoped out area Proved
Probable Probable Pillars Indicated Inferred Exploration Targets Dyke
Blanket’ s underground Infrastructure following the implementation of the Revised Plan( not to scale)
Shaft
Ore Reserves trend is likely to be sustained as increased production volume and economies of scale lead to lower unit operating costs.
The Blanket investment plan is beginning to yield fruit with strong cash generation from 2017 onwards. The low dividend pay-out ratio and strong future cash generation leaves resources available for strategic purposes.
Mascot and GG
Blanket will continue exploration at two of Blanket’ s satellite projects, Mascot and GG.
Blanket has 18 brownfields projects in the vicinity of the existing mine operations, many of which were mined commercially from the early 1900s until the 1960s. At the time of their closure, only the highest grade portions of these mines had been extracted, leaving significant amounts of lower grade mineralisation in the
workings which are likely payable given the current gold price. In addition, these old ore shoots remain open to depth and require further exploration and development to determine their full potential. Advances in exploration, mining and metallurgical technologies over the last 40 years means that such old workings may now potentially be economically viable on a sustainable basis and not just because of the high gold prices which currently prevail.
Some of these workings therefore have developed shaft infrastructure in place which facilitates more rapid underground access for exploration, development, evaluation and the potential resumption of mining activity.
Blanket has commenced exploration on two of these areas( GG and Mascot) in order to better assess their suitability for further development as potential satellite operations. Depending on the successful outcome of exploration work, mining development and metallurgical test-work, it is intended that economic ore extracted from the satellites would be trucked to the Blanket plant for processing. The metallurgical plant has existing surplus treatment capacity and when the planned crushing and milling plant extensions have been completed could handle up to 3,500 t / d of ore from Blanket underground and successful exploration project areas.
The GG project was previously the site of
16 International Mining | JANUARY 2018