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Caledonia Mining Corporation Plc announced a maiden mineral resource estimate for its 100%-owned Motapa property in…
CMCLCaledonia Mining Corp Plc
Caledonia Mining Corporation Plc announced a maiden mineral resource estimate for its 100%-owned Motapa property in Zimbabwe, adjacent to its developing Bilboes Gold Project. The estimate identifies 7.8 million tonnes at 1.51 g/t containing 379,000 ounces of gold in measured and indicated categories, plus 2.7 million tonnes at 1.48 g/t containing 131,000 ounces in inferred categories, using a 0.5 g/t cut-off grade. The company acquired Motapa for $8.25 million and spent $7.084 million on exploration through June 2026, resulting in an acquisition and discovery cost of approximately $40.45 per measured and indicated ounce. This resource supports the potential to extend Bilboes' planned production profile or support a larger operation, with first gold production at Bilboes expected in late 2028. Caledonia Mining Corporation Plc operates in the gold mining industry.