REG - Caledonia Mining Crp - Encouraging results from exploration at Motapa
11/11/2024 07:00
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RNS Number : 6456L Caledonia Mining Corporation PLC 11 November 2024
Caledonia Mining Corporation Plc
Encouraging results from exploration at the Motapa Gold Project
(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)
November 11, 2024: Caledonia Mining Corporation Plc ("Caledonia" or "the
Company") is pleased to announce the first results from its recent exploration
program at Motapa, an exploration project acquired in November 2022, located
directly adjacent to the Company's Bilboes Gold Project in southern Zimbabwe.
At Motapa, the combination of diamond drilling ("DD") and reverse circulation
drilling ("RC"), designed to test the continuation of sulphide zones of
mineralisation below the historic oxide open pits, have returned highly
encouraging results. In addition, shallower drilling in new target areas has
returned encouraging results both in shallower oxide, and deeper sulphide
zones.
The program to date has achieved the initial objectives and included 12,724m
of trenching, 4,143m of DD and 5,433m of RC. The drill program featured
generally wide-spaced holes at several prospects on the Motapa lease area and
highlighted the presence of widespread gold mineralization over a combined
strike length of more than 9km. Results included significant high grade gold
mineralization in numerous areas (e.g. in particular the Jupiter, Pluvious and
Mpudzi areas) which will now be the focus for follow up drilling with a view
to defining an open pit mineral resource. Drilling highlights to date include:
• Hole JPRC01 - 12.00m* at 6.36g/t from 81m downhole, RC
• Hole JPRC05 - 13.00m at 5.17g/t from 88m downhole, RC
• Hole PLVRC06 - 7.00m at 3.27g/t from 64m downhole, RC
• Hole MPZRC02 - 4.00m at 10.95g/t from 12m downhole, RC
• Hole JDD08 - 14.00m at 3.20g/t from 63m downhole, DD
• Hole PLVDD01 - 8.00m at 4.00g/t from 74m downhole, DD
*all intersections above are down hole intersections; estimated true widths,
all drill hole intersections are quoted in the tables later in this press
release.
Further information on the results is provided below.
Chief Executive Officer, Mark Learmonth, said:
"The results from the sampling at Motapa have delivered encouraging results in
terms of strike width, length and grade. The drill program featured generally
wide-spaced holes at several prospects on the Motapa lease area and
highlighted the presence of widespread gold mineralization over a combined
strike length of more than 9 km.
"Motapa sits adjacent to Bilboes, which is where the Company plans to develop
a major new high grade open pit gold mine. These initial results confirm that
Motapa will continue to form a key role in the Company's growth strategy."
Enquiries:
Caledonia Mining Corporation Plc
Mark Learmonth Tel: +44 1534 679 800
Camilla Horsfall Tel: +44 7817 841 793
Cavendish Capital Markets Limited (Nomad and Joint Broker)
Adrian Hadden
Pearl Kellie Tel: +44 207 397 1965
Tel: +44 131 220 9775
Panmure Liberum Limited (Joint Broker)
Scott Mathieson Tel: +44 20 3100 2000
Matt Hogg
Camarco, Financial PR (UK)
Gordon Poole Tel: +44 20 3757 4980
Julia Tilley
Elfie Kent
3PPB (Financial PR, North America)
Patrick Chidley Tel: +1 917 991 7701
Paul Durham Tel: +1 203 940 2538
Curate Public Relations (Zimbabwe)
Debra Tatenda Tel: +263 77802131
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)
Lloyd Mlotshwa Tel: +263 (242) 745 119/33/39
Overview of Motapa Exploration Program
· The Motapa exploration program commenced in 2023 with geological
mapping, geophysical surveys, trenching, and a later program in 2024 of
surface exploration drilling.
· The initial work informed targets for wide spaced drilling to test
mineralization below the historically mined oxide open pits and in new target
areas which have not yet been mined.
· To date, 12,724m of trenching, 4,143m of DD and 5,433m of RC have
been completed, marking the end of the 2024 exploration drilling activities.
· To date, complete data (assay results) have been received for 93% of
DD samples and 61% of RC samples submitted for analysis at external
laboratories. A total of 13,374 trench samples have been analyzed by means
of bottle roll analysis at the Company's internal laboratory at Bilboes.
· Caledonia believes that the property presents substantial upside from
both greenfield and brownfield exploration opportunities.
· Further updates will be provided on the completion and assessment of
the outstanding assay results.
Details of the Program
Motapa is located approximately 110km north of Bulawayo in the Bubi District
of the Matabeleland North Province of Zimbabwe. The tenement is within state
land under the jurisdiction of the Bubi Rural District and the tenure is held
in the form of a mining lease covering approximately 2,200 hectares which
provides for both exploration and mining rights. The locality of Motapa is
shown relative to other key Caledonia properties in Figure 1. Caledonia's
Bilboes property and associated large scale new development project is located
directly to the north of Motapa with Bilboes and Motapa sharing a lease
boundary.
The mining lease area is part of the Bubi Greenstone Belt and occupies a ±
6km stretch of an elongated northeast - southwest trending intensely sheared
broad shear zone with three main mineralised footprints. Named from the north,
these shear structures are Motapa North, Motapa Central and Motapa South
(Figure 2).
Figure 1: General Locality of the Motapa Exploration Project, Zimbabwe.
Figure 2: Surface Geology and Main Shear Zones at the Motapa Exploration
Project.
(Refer to Figure 3 for precise extent of the mining lease boundary.)
Caledonia believes that the property presents both greenfield and brownfield
upside exploration opportunities, and the proximity to the planned development
at Bilboes makes Motapa strategically very important for Caledonia, given the
potential synergies between the two.
Initial exploration activities at Motapa commenced in 2023 and comprised the
following:
· Detailed geological mapping of the tenement
· Historical data collation of previous exploration and mining
activities
· Aero-magnetics flown by drone
· Ground penetrating radar (LOZA) surveys to identify underground voids
These activities, completed in the same calendar year, were used to define an
exploration program for 2024. The total exploration works program originally
planned comprised the following:
· 22,212 meters of surface trenching
· 3,987 meters of DD, 3,502 samples submitted of which 3,268 assays
have been received.
· 4,663 meters of RC, 4,226 samples submitted of which 2,575 assays
have been received.
To date, 12,724m of trenching, 4,143m of DD and 5,433m of RC have been
completed, marking the end of the 2024 exploration drilling activities. Figure
3 shows approximate locations of trenching sites, while Figures 4, 5 and 6 are
air photos showing the North, Central and South known mineralized trends on
Motapa, in relation to old workings with drill hole locations marked.
To date, complete data (assay results) have been received for 93% of DD
samples and 61% of RC samples submitted for analysis at external laboratories.
A total of 13,374 trench samples have been analyzed by means of bottle roll
analysis at the Company's internal laboratory at Bilboes.
Trenching and infill mapping identified Slates, Meta-andesites and BIFs as
host rocks to gold mineralization. Gold mineralization is associated with
extensive sericite, carbonate, silica, pyrite, arsenopyrite and magnetite
alteration. From logging of RC and DD drill hole core, it is evident that
mineralization is predominantly structurally controlled and associated with
intense shearing, silicification and sulphidisation (pyrite and arsenopyrite)
in slates, quartz feldspar porphyries (Motapa North) and Meta-Andesites and
BIF (Motapa Central and South). Sporadic decent widths (+5m), high-grade zones
are mostly ascribed to Motapa North Jupiter and Shawl orebodies, with the
widest zone encountered being 12.04m at 3.20g/t at Jupiter.
Trenching and drilling methodology and results are discussed in sections later
on in this document.
Key Conclusions Regarding Work to Date
Motapa North
The historic oxide open pits are located approximately 250 meters to the south
of the shared Bilboes property boundary and a few hundred meters further to
the planned metallurgical facility at Bilboes. Exploration drilling during
2024 was focused more on the northern trend which has returned sufficiently
encouraging results to warrant further follow up drilling during 2025. The
focus of further drilling will be to define an open pit mineral resource in
the near term along the 2,750-meter strike length of Motapa North with drill
section lines planned at a 25 meter spacing.
Motapa Central
Historically, underground mining took place in the western portion of Motapa
Central along the Club section. Underground working and assay plans show that
highly encouraging grades were mined in the past, and therefore exploration
drilling has been focused on the eastern portion in the Mpudzi section.
The Mpudzi section has no historical open pits and exploration drilling
encountered shallow high grade mineralisation with deeper drill holes showing
the continuation of these zones at depth. The shallow mineralisation appears
to be oxidised and further drilling with the aim to define a near-term oxide
mineral resource is planned for 2025.
Motapa South
Limited drillholes were planned and executed at Motapa South due to both the
north and central areas taking precedence because of their proximity to
Bilboes. Going forward for 2025, limited drilling will take place with
drilling to intensify during 2026 and 2027.
Figure 3: Trenching Localities at the Motapa Exploration Project.
Figure 4: Motapa North strike DD and RC drillhole collars.
Figure 5: Motapa Central strike DD and RC drillhole collars.
Figure 6: Motapa South strike DD and RC drillhole collars.
Clarification of mining lease area
During the Motapa drilling project, a discrepancy was discovered between the
mining area noted in the registered mining lease (2,224 hectares) and a
historic map of the area by the Surveyor General which was supposed to have
informed the extent of the lease (2,161 hectares). Management's view is that
the excluded area has no implications on the ongoing exploration project as
there were no plans to explore there and it is not material to Motapa's
development plans. Furthermore, the exclusion of the old tailings dump has
reduced the Company's rehabilitation liability in respect of Motapa.
In summary, the Surveyor General's map excludes an access road through the
area, an old tailings dump and small parts of pits in the central strike zone
of the area (see Figure 3 for more detail). The Ministry of Mines has been
contacted to resolve the discrepancy and it is likely that the lease will be
updated in due course to clarify that the excluded area is not part of the
lease, given that the Surveyor General's map is likely to take precedence.
Trenching and trench sampling methodology
After the geologist has noted that the trench has successfully been excavated
to bedrock, the sample intervals are set out on the side walls. At the start
of the sample line, a peg is installed into the floor with the trench number.
A clean, exposed side of the trench is chosen and maintained throughout the
sampling process. The sidewall is cleaned with a shovel to ensure an
uncontaminated face is exposed for sampling. Thereafter sample localities are
marked on the sidewall.
Sampling is done at one-meter intervals respecting lithological contacts,
alterations and structures. A minimum sampling width of 0.3m and maximum of 1m
are observed throughout the sample interval marking. A clean sample mat is
placed on the floor of the trench and samples are chipped from the bedrock
sidewall into a sample pan. Samples are ticketed and placed in a sample bag
closed with twine. Sample tickets, locality and weights are recorded on the
sample sheet record for each trench.
A total of 15% per batch consists of check samples comprising one standard,
one field duplicate and one blank (Dolerite Dyke). Each batch contains a total
of 20 samples inclusive of check samples. Trench samples are assayed on site
by means of a bottle roll assay at the Company's Isabella laboratory situated
at Bilboes.
Samples above a cut-off grade of 0.10g/t bottle roll grade are selected for
fire assay. These samples are composited and sent for analysis at an external
laboratory.
The compositing of samples is guided by lithology as well as alteration
domains; no sampling will be done across different domains. Outliers with
anomalously high grades are not composited unless they are part of a
homogenous lithological and alteration domain. When compositing in wider ore
zones, a composite sample is made by combining five samples, whilst in narrow
ore zones two samples will make up a composite sample. The homogenized sample
is split using a riffle splitter to get two 2kg samples to be delivered to the
external laboratory for bottle roll analysis and the other for fire assay.
Total meters trenched to date amount to 12,724m, with 13,374 samples being
collected from 56 trenches (see
Figure 3). Of these samples, 907 samples were selected for fire assay at an
external laboratory with results received for 710 samples to date. The longest
trench was MTR12 with 894m. The trenches were approximately 0.5-2m deep, were
sampled on an individual basis and provided exposures for geological mapping.
Using a 0.1 g/t gold lower cut-off, for the 16 trenches with analytical
results (16 of 53), 10 trenches (63%) intersected mineralization. Trenches
that intersected gold mineralization are summarized in Table 1. The widest
zone of mineralization encountered was 19.32m at 0.36 g/t (MTR25A) with a peak
value of 11.75 g/t. However, most of the mineralization widths are pervasively
narrow.
Widely spaced trenches (100m) MTR27, MTR27_1E, MTR27_2E and MTR25 have
suggested a continuity of mineralization over a 250m strike length.
Mineralization has also been encountered in trench MTR9 in anomalies located
along Motapa Central strike.
Trenching and infill mapping is highlighting increased recognition of slates,
andesites and BIF lithologies as host rocks to gold mineralization. Gold
mineralization is associated with extensive sericite, carbonate, silica,
pyrite and/or magnetite alteration. Drill testing of the priority targets is
in progress.
Surface drilling
Sixty-two down-the-hole surveys were conducted on RC and DD holes which showed
no major departures from the planned trajectory. The project QAQC statistical
tests carried out on DD and RC assay results from the ISO accredited
Performance Laboratories were satisfactory at an overall pass rate of 90%.
The RC and DD methodology is discussed below with the results obtained
tabulated in Table 5 and the drill hole information tabulated in Table 6.
Drill hole localities for Motapa North, Motapa Central and Motapa South are
provided in Error! Reference source not found.,
Figure 5 and Figure 6 respectively.
DD methodology
After all geotechnical and structural logging is complete, the geologist
inspects the core and delineates potential ore zones.
The geologist determines sampling depths, each sampling interval depending on
lithological contacts, alterations, structures and quantity of sulphides with
the maximum sampling width of 1m and minimum sampling width of 0.3m. The
sample depths are printed on a sampling sheet and need to be marked on the
core before density determination can take place. The densities are measured
before the core is cut. Sampling starts five meters away from the footwall
contact and ends five meters away from the hanging wall contact to allow for
sterilization.
Half core was sampled, with the other half remaining at the core shed for
archiving.
Core segments were picked within demarcated and labeled intervals and put in
respective sample bags. The samples are numbered as per the sampling plan with
one ticket put into the respective sample bag, and the other onto the
remaining piece of core where the sample would have been collected. The sample
I.D.is also scribbled on the remaining half core.
At the end, sample bags are sealed with cable ties and weighed; with sample
weights recorded on the sampling sheet.
The samples are then bagged into grain bags for dispatch to an outside
accredited laboratory or storage prior to submission.
RC methodology
Checks for rig outlet and splitter cleanliness are conducted prior to the
commencement of drilling activities and continuously throughout the drilling
activities to avoid sample contamination.
Sample bags are pre-numbered with unique sample numbers (drill hole number and
drill hole depth intervals) before the drilling commences. Sample depths
recorded are relative to the ground surface at the drillhole collar. If no
sample is recovered, such as when voids are intersected, the numbering
sequence is continued uninterrupted with empty numbered bags inserted into the
sample sequence. This will avoid possible confusion in sampling. Sample bags
are immediately sealed to effectively prevent external contamination.
A sample bag is tied to the sample outlet of the rig in preparation for sample
collection before sampling commences. Bulk samples are collected at 1m
intervals and split using a riffle splitter to three samples. One sub-sample
of 2kg will be taken to the lab for assaying, the second remains as a field
duplicate for storage at the core shed and the third is prepared as chips for
traying. The sampling crew will sample at the designated (one meter) intervals
down the hole. The geologist verifies the intervals from the driller's marks
on the mast or pull-down chain. For samples sent to the laboratory, the
sampling quality is monitored continuously as the geologist ensures the
samples for QA & QC monitoring purposes are inserted in each sampling
stream batch of 20 samples with CRMs being alternated from batch to batch from
low, medium and high grade.
QAQC Procedures
For DD samples, a train comprising a single blank, CRM, LCR, and LPR reference
sample is inserted into a batch of 20 samples. This process is repeated until
the entire drillhole is completed with the CRMs being alternated from batch to
batch (low, medium and high grade).
For RC samples, a train comprising a single blank, CRM, FDUP, and LPR
reference sample is inserted into a batch of 20 samples. This process is
repeated until the entire drillhole is completed with the CRMs being
alternated from batch to batch (low, medium and high grade).
For trench sampling, a train comprising a single blank, CRM and FDUP reference
sample is inserted into a batch of 20 samples. This process is repeated until
the entire trench is completed with the CRMs being alternated from batch to
batch (low, medium and high grade).
Every sampling sequence starts with a blank sample and ends with a blank
sample. Analytical results for blanks, standards and duplicates are graphed
and, if any fail, the entire batch is re-assayed. Batches that passed the QAQC
graphs are then captured in the database. QAQC is monitored continuously. All
assays sent to an external laboratory refer to Performance Laboratories, an
accredited laboratory in Zimbabwe.
Overall QAQC compliance rate of 90% is comprised as per Table 1 below.Table 1:
QAQC Results from DD and RC Drilling Activities
QAQC Insertion % Insertion Pass / Fail # of Samples % Comments
FDUP Duplicates 2% Pass 108 98% Good correlation of R²=0.89
Fail 2 2%
Total 110
LCR Duplicates 3% Pass 137 82% Poor correlation, could be due to nugget effect.
Fail 30 18%
Total 167
LPR Duplicates 4% Pass 204 91% Satisfactory correlation.
Fail 21 9%
Total 223
CRMs 5% Pass 213 77% Most failures are on a high-grade CRM of 12g/t. All failed batches being
sent for re-analysis at the lab's cost.
Fail 60 22%
Total 276
Blanks 6% Pass 288 99% Good QAQC. Failed batches being re-analysed
Fail 3 1%
Total 291
Grand Total 20% Pass 955 90% Satisfactory Compliance Rate
Fail 116 11%
Total 1067
Table 1: QAQC Results from DD and RC Drilling Activities
FDUP - Field Duplicate, LCR - lab coarse repeat, LPR - lab pulp repeat, CRM -
Certified Reference Material, Blank - Dolerite Dyke
In addition to the QAQC protocol above, a check laboratory and umpire
laboratory are utilized to validate the results from the principal laboratory.
Zimlabs is used as a check laboratory with 10% of assays re-assayed. Antech
Laboratories is used as an umpire laboratory with 5% of assays re-assayed.
Correlation between the Performance and Antech laboratories is excellent with
Zimlabs showing less of a correlation.
Qualified person
Craig James Harvey, MGSSA, MAIG, Caledonia Vice President, Technical Services,
has reviewed and approved the scientific and technical information contained
in this news release. Craig James Harvey is a "Qualified Person" as defined by
each of (i) the Canadian Securities Administrators' National Instrument 43-101
- Standards of Disclosure for Mineral Projects and (ii) subpart 1300 of
Regulation S-K.
Note:
This announcement contains inside information which is disclosed in accordance
with the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
Appendix
Highlights from the DD and RC campaigns are provided in the tables below. [A
full overview is included in the appendix]:
RC Highlights
Holes Identifier Orebody Name Orebody Intersection Core Length (m) True width (m) Grade (g/t) Orebody Intersection depth from surface(m) E.O.H (m)
From (m) To (m)
JPRC01 JUPITER 81.00 93.00 12.00 9.72 6.36 67.93 110
JPRC05 JUPITER 88.00 101.00 13.00 10.53 5.17 76.21 160
PLVRC06 PLUVIOUS 1,2&3 64.00 71.00 7.00 6.62 3.27 53.68 150
MPZRC02 MPUDZI 12.00 16.00 4.00 3.86 10.95 8.00 55
36.00 39.00 3.00 2.89 2.83 25.00
Table 2: RC Drilling Highlights
DD Highlights
Holes Identifier Orebody Name Orebody Intersection Core Length (m) True width (m) Grade (g/t) Orebody Intersection depth from surface(m) E.O.H (m)
From (m) To (m)
JDD08 JUPITER 63.00 77.00 14.00 12.04 3.20 44.6 200
PLVDD01 PLUVIOUS 5 74.00 82.00 8.00 6.94 4.00 57.5 170
PLVDD02 PLUVIOUS 4 64.00 66.00 2.00 1.75 4.04 50.4 149
PLVDD04 PLUVIOUS 1,2&3 137.00 142.00 5.00 4.80 3.31 114.9 248
Table 3: DD Drilling Highlights
The following tables below provide the full results
Exploration Anomaly/Target Trench ID Trench Start Trench End Azimuth (°) Trench length (m) Intersection True width (m) Grade(g/t)
Easting Northing Elevation Easting Northing Elevation From To
T1 PLVTR5.5 661984 7845794 1122 662073 7845680 1124 142 149 71.00 72.00 0.97 0.30
Shawl SHWTR1 664186 7847041 1141 664262 7846934 1148 144 132 43.00 46.00 2.90 0.35
73.00 74.00 0.97 0.32
Jupiter East JETR1 664195 7846870 1145 664246 7846791 1148 147 115 24.00 25.00 0.97 0.29
Shawl East MTR1 664823 7847517 1155 664940 7847336 1147 147 216 64.00 66.00 1.93 0.69
102.00 103.00 0.97 0.17
MTR2 664487 7847329 1149 664764 7846876 1141 149 531 82.00 83.00 0.97 0.34
90.00 94.00 3.86 0.29
T6 MTR12 664732 7846468 1106 665141 7845671 1145 153 894 56.00 57.00 0.97 TBA
263.00 264.00 0.97
316.00 317.00 0.97
533.00 534.00 0.97
866.00 867.00 0.97
MTR9 665277 7846381 1133 665613 7845816 1146 149 663 193.00 194.50 1.45 0.51
216.00 217.00 0.97 2.61
217.00 219.00 1.93 0.42
MTR9W 665301 7846243 1139 665365 7846136 1140 149 126 NSI
MTR8 665634 7846172 1144 665792 7845905 1149 149 311 NSI
T8 MTR27 665723 7845630 1152 665982 7845196 1173 149 511 12.00 16.00 3.86 0.56
210.30 212.00 1.64 0.20
229.00 231.00 1.93 0.44
262.00 265.30 3.19 1.01
297.00 298.00 0.97 0.83
MTR25 666048 7845866 1153 666216 7845585 1171 149 329 275.00 277.00 1.93 0.37
286.00 288.00 1.93 0.17
294.00 295.20 1.16 0.52
296.40 296.70 0.29 11.75
296.70 297.20 0.48 1.12
297.20 298.80 1.55 0.23
311.00 314.30 3.19 0.14
315.00 316.00 0.97 0.25
319.00 321.00 1.93 1.04
321.00 323.00 1.93 0.70
323.00 323.30 0.29 10.41
MTR25A 666225 7845592 1171 666233 7845574 1172 154 20 0.00 20.00 19.32 0.36
MTR25B 666224 7845571 1174 666366 7845333 1179 149 279 0.00 8.00 7.73 0.20
122.00 123.00 0.97 0.11
123.00 124.00 0.97 1.54
124.00 125.00 0.97 0.20
125.00 126.00 0.97 7.26
MTR25C 666341 7845318 1177 666351 7845287 1180 161 33 NSI
MTR26 666421 7845239 1185 666543 7845034 1179 149 237 NSI
MTR24 666369 7845997 1160 666625 7845540 1208 151 530 314.40 315.00 0.58 TBA
318.00 320.00 1.93
335.00 336.00 0.97
340.00 341.00 0.97
344.00 345.00 0.97
352.00 354.00 1.93
381.00 382.00 0.97
MTR27_1E 665893 7845536 1164 666059 7845271 1171 148 314 87.00 89.00 1.93 0.12
114.00 115.00 0.97 0.19
179.00 181.00 1.93 0.26
189.00 192.00 2.90 0.24
195.00 198.00 2.90 0.15
202.00 203.50 1.45 0.16
210.00 212.00 1.93 0.11
MTR27_2E 665985 7845590 1158 666158 7845307 1170 149 333 83.00 84.00 0.97 0.30
141.00 142.00 0.97 0.11
177.00 188.00 10.63 0.37
MTR27_1W 665724 7845432 1167 665858 7845210 1175 149 261 NSI
MTR27_2W 665642 7845374 1166 7845164 665769 1169 149 246 2.00 3.00 0.97 TBA
3.00 4.00 0.97
12.00 13.00 0.97
14.00 15.00 0.97
25.00 27.00 1.93
30.00 31.00 0.97
33.00 35.00 1.93
39.00 40.00 0.97
41.00 42.00 0.97
MTR27N_1W 665636 7845576 1153 7845538 665659 1156 150 45 0.00 1.00 0.97
3.00 4.00 0.97
6.00 15.00 8.69
17.00 18.00 0.97
MTR27N_1E 665783 7845679 1151 7845640 665807 1152 150 47 NSI
MTR25_1W 666065 7845640 1157 666243 7845343 1171 149 350 51.00 52.00 0.97 TBA
110.00 110.50 0.48
114.00 115.00 0.97
125.00 126.00 0.97
130.00 131.00 0.97
134.00 135.00 0.97
311.00 312.00 0.97
MTR25_1E 666251 7845761 1166 666443 7845442 1184 149 375 60.00 63.00 2.90
64.00 68.00 3.86
72.00 73.00 0.97
76.00 77.00 0.97
93.00 99.00 5.80
161.00 162.00 0.97
166.00 227.00 58.92
235.00 236.00 0.97
237.00 245.00 7.73
250.00 251.00 0.97
253.00 254.00 0.97
261.00 262.00 0.97
MTR25_2E 666353 7845814 1171 666532 7845514 1198 149 353 46.00 47.00 0.97
87.00 88.00 0.97
109.00 110.00 0.97
249.00 252.00 2.90
270.00 271.00 0.97
274.00 275.00 0.97
277.00 279.00 1.93
296.00 297.00 0.97
MTR24_1E 666533 7845916 1175 666720 7845590 1209 150 382 126.00 127.00 0.97
161.00 163.00 1.93
166.00 167.00 0.97
MTR24_2E 666626 7845968 1169 666815 7845638 1199 150 385 147.00 148.00 0.97
FSKTR1 665143 7844949 1163 665225 7844819 1158 148 155 0.00 5.00 4.83
6.00 9.00 2.90
10.00 14.00 3.86
17.00 18.00 0.97
19.00 21.00 1.93
22.00 37.00 14.49
39.00 53.00 13.52
54.00 56.00 1.93
57.00 58.00 0.97
59.00 60.00 0.97
61.00 77.00 15.45
78.00 79.00 0.97
83.00 84.00 0.97
89.00 90.00 0.97
93.00 98.00 4.83
101.00 108.00 6.76
109.00 110.00 0.97
112.00 114.00 1.93
134.00 135.00 0.97
FSKTR4 665267 7845089 1167 665292 7845048 1165 149 49 NSI
FSKTR4A 665295 7845042 1164 665310 7845016 1163 149 31
FSKTR4B 665312 7845014 1164 665316 7845007 1164 152 8
FSKTR4C 665322 7844999 1163 665328 7844988 1162 149 14
FSKTR4D 665334 7844978 1162 665351 7844949 1160 149 35
FSKTR4E 665356 7844952 1160 665360 7844943 1160 157 12
FSKTR4F 665356 7844940 1160 665364 7844928 1159 147 15
FSKTR4G 665367 7844924 1158 665378 7844906 1158 149 22
FSKTR4H 665383 7844897 1157 665390 7844886 1157 148 14
FSKTR2 665434 7845158 1163 665469 7845101 1161 148 68
FSKTR2A 665470 7845099 1161 665474 7845093 1161 147 7
FSKTR2B 665476 7845095 1161 665489 7845078 1160 142 22
FSKTR2C 665486 7845074 1160 665514 7845027 1158 149 56
FSKTR3 665574 7845290 1165 665622 7845214 1167 148 91
FSKTR3A 665630 7845199 1167 665657 7845155 1165 149 51 2.00 3.00 0.97 TBA
FSKTR3B 665664 7845143 1164 665700 7845086 1163 148 67 NSI
FSKTR2 EXT 665328 7845260 1164 665375 7845192 1167 145 83 2.00 3.00 0.97 TBA
5.00 6.00 0.97
9.00 10.00 0.97
16.00 18.00 1.93
21.00 22.00 0.97
27.00 27.50 0.48
Mpudzi East MTR23 666917 7846195 1164 667141 7845878 1177 145 391 NSI
MTR22 667320 7845967 1179 667321 7845922 1182 180 46
MTR20 667356 7846381 1160 667357 7846217 1165 180 165
MTR21 668061 7846182 1177 668062 7846029 1182 180 154
Boomgate MOTR002 663329 7846428 1140 663354 7846383 1138 152 52
MOTR001 663284 7846397 1140 663299 7846375 1139 148 28
BGTR2_0 663490 7846524 1139 663500 7846496 1139 158 31 20.00 28.00 7.73 TBA
BGTR2_2 663529 7846431 1136 663545 7846404 1136 151 32 NSI
BGTR2_3 663509 7846417 1136 663528 7846385 1135 151 38
T1 PLWTR1 662335 7845815 1127 662377 7845739 1129 151 108 19.00 20.00 0.97 TBA
28.00 32.00 3.86
34.00 35.00 0.97
59.00 60.00 0.97
86.00 87.00 0.97
PLWTR2 662262 7845779 1127 662309 7845694 1128 152 98 6.00 8.00 1.93
71.00 72.00 0.97
84.00 85.00 0.97
PLVTR3 662221 7845788 1124 662290 7845660 1127 151 147 108.00 109.00 0.97
PLVTR4 662181 7845746 1124 662238 7845631 1126 153 134 NSI
PLVTR5 662132 7845708 1123 662196 7845608 1125 147 119
PLVTR5EXT 662045 7845842 1124 662132 7845708 1122 147 161
PLVTR8 662677 7845977 1132 662712 7845881 1134 151 104 4.00 6.00 1.93 TBA
9.00 10.00 0.97
17.00 18.00 0.97
23.00 24.00 0.97
29.00 30.00 0.97
44.00 45.00 0.97
46.00 47.00 0.97
71.00 72.00 0.97
88.00 89.00 0.97
PLVTR12 662505 7845826 1129 662542 7841751 1131 153 85 19.00 20.00 0.97
31.00 32.00 0.97
44.00 45.00 0.97
PLVTR13 662699 7845989 1133 662731 7845897 1135 153 95 8.00 14.00 5.80
68.00 69.00 0.97
Pluvious 4 PL4TR2 662730 7846022 1133 662741 7845994 1132 158 31 12.00 13.00 0.97
15.00 22.00 6.76
28.00 29.00 0.97
30.00 31.00 0.97
PL4TR1 662741 7846042 1134 662760 7846011 1135 149 36 20.00 21.00 0.97
25.00 28.00 2.90
28.00 32.00 3.86
33.00 36.00 2.90
PL4TR2_1 662761 7845954 1135 662771 7845929 1135 157 28 NSI
Pluvious 5 PL5TR1 662834 7846122 1136 662848 7846095 1136 153 31 11.00 24.00 12.56 TBA
30.00 31.00 0.97
PL5TR1EXT 662849 7846093 1136 662881 7846048 1138 140 54 44.00 45.00 0.97
PL5TR1A 662868 7846068 1138 662895 7846027 1138 147 49 0.00 2.00 1.93
5.00 6.00 0.97
21.00 26.00 4.83
PL5TR2 662865 7846129 1136 662893 7846073 1138 154 63 0.00 1.00 0.97
7.00 19.00 11.59
26.00 27.00 0.97
PLV5TR2EXT 662893 7846072 1138 662908 7846050 1139 147 90 72.00 73.00 0.97
77.00 80.00 2.90
84.00 86.00 1.93
PL5TR7 662960 7846205 1138 662973 7846182 1138 150 27 1.00 27.00 25.11
Pluvious 123 PLV123TR6 661909 7845767 1124 662031 7845575 1124 148 230 38.00 39.00 0.97
88.00 89.00 0.97
95.00 96.00 0.97
Shawl SHETR1 664447 7847219 1148 664484 7847160 1151 157 69 2.00 3.00 0.97
6.00 8.00 1.93
14.00 15.00 0.97
20.00 22.00 1.93
31.00 39.00 7.73
40.00 42.00 1.93
68.00 69.00 0.97
Britwell MTR28 664851 7845423 1148 665087 7845043 1169 148 452 35.00 36.00 0.97
85.00 87.00 1.93
360.00 361.00 0.97
Total Trenched To Date (m) 12112
Table 4: Trenching Results
Diamond Drillholes Intercepts
Holes Identifier Orebody Name Orebody Intersection Core Length (m) True width(m) Grade(g/t) Orebody Intersection depth from surface(m) E.O.H (m)
From (m) To (m)
JDD01 JUPITER 58.00 62.00 4.00 3.74 3.00 45.01 154.88
77.00 80.00 3.00 2.81 3.34 54.45
JDD02 156.00 157.00 1.00 0.85 1.93 130.00 248.03
163.00 164.00 1.00 0.85 1.20 135.00
JDD03 69.73 70.50 0.77 0.74 0.77 55.00 295.88
147.00 156.00 9.00 8.63 1.89 113.20
160.00 163.00 3.00 2.88 2.05 124.00
206.50 207.35 0.85 0.82 1.09 160.00
JDD04 63.00 64.54 1.54 1.48 1.67 50.00 250.88
81.00 82.00 1.00 0.96 1.76 60.00
88.00 93.00 5.00 4.80 1.01 70.00
142.00 143.00 1.00 0.96 0.96 103.00
146.00 150.00 4.00 3.84 0.71 106.00
152.00 153.00 1.00 0.96 0.82 107.00
JDD05 43.82 52.00 8.18 6.95 0.99 32.00 79.68
60.00 68.00 8.00 6.80 2.50 45.00
JDD06 66.00 67.00 1.00 0.84 1.01 55.12 274.98
JDD07 56.00 57.00 1.00 0.87 2.23 40.11 199.88
61.00 64.00 3.00 2.61 3.73 45.23
66.00 69.80 3.80 3.31 1.87 48.30
95.00 96.00 1.00 0.87 0.75 68.00
JDD08 39.00 40.00 1.00 0.86 2.75 27.58 199.68
63.00 77.00 14.00 12.04 3.20 44.55
JDDD10 12.60 15.00 2.40 2.25 0.56 23.48 76.88
21.00 21.37 0.37 0.35 0.61 29.21
39.00 40.41 1.41 1.32 1.03 43.76
BMGDD01 BOOMGATE NSI 103.98
BMGDD02 67.00 70.00 3.00 2.81 2.26 50.00 139.93
72.00 73.00 1.00 0.94 2.44 52.00
91.00 92.00 1.00 0.94 0.81 67.00
94.00 95.00 1.00 0.94 0.65 70.00
96.60 98.00 1.40 1.31 2.36 71.00
106.00 109.00 3.00 2.81 3.84 78.00
132.00 133.00 1.00 0.94 1.07 96.00
PLVDD01 PLUVIOUS 5 59.00 60.00 1.00 0.87 1.11 60.81 169.98
74.00 82.00 8.00 6.94 4.00 57.51
PLVDD02 PLUVIOUS 4 64.00 66.00 2.00 1.75 4.04 50.43 148.98
74.00 74.90 0.90 0.79 2.80 88.31
PLVDD03 PLUVIOUS 1,2&3 75.00 81.00 6.00 5.61 1.58 53.03 154.98
83.00 84.00 1.00 0.94 1.44 58.69
94.00 95.00 1.00 0.94 1.68 66.46
104.00 106.00 2.00 1.87 0.95 73.54
PLVDD04 137.00 142.00 5.00 4.80 3.31 114.90 247.98
PLVDD05 89.00 90.00 1.00 0.97 1.07 72.15 97.98
Reverse Circulation Drilling Intercepts
Holes Identifier Orebody Name Orebody Intersection Core Length (m) True width(m) Grade(g/t) Orebody Intersection depth from surface(m) E.O.H (m)
From (m) To (m)
SHRC01 SHAWL 56.00 57.00 1.00 0.85 1.32 47.00 153
60.00 61.00 1.00 0.85 1.10 50.30
62.00 64.00 2.00 1.70 0.66 52.00
109.00 112.00 3.00 2.55 5.03 91.42
124.00 127.00 3.00 2.55 4.21 100.64
131.00 138.00 7.00 5.95 1.68 109.87
SHRC02 44.00 46.00 2.00 1.70 1.81 38.48 112
57.00 73.00 16.00 13.60 1.75 49.85
97.00 100.00 3.00 2.55 0.67 84.84
JPRC01 JUPITER 72.00 74.00 2.00 1.62 0.66 60.38 110
81.00 93.00 12.00 9.72 6.36 67.93
JPRC02 79.00 80.00 1.00 0.81 0.73 66.25 140
108.00 112.00 4.00 3.24 3.21 90.58
JPRC04 NSI 1
2
0
JPRC05 88.00 101.00 13.00 10.53 5.17 76.21 160
BMGRC01 BOOMGATE 55.00 56.00 1.00 0.75 3.93 47.63 97
61.00 63.00 2.00 1.54 2.64 52.83
66.00 68.00 2.00 1.62 1.02 57.16
PLVRC01 PLUVIOUS 5 63.00 70.00 7.00 5.67 3.02 50.97 110
PLVRC06 PLUVIOUS 1,2&3 64.00 71.00 7 6.62 3.27 53.68 150
81.00 83.00 2 1.89 1.56 67.76
127.00 129.00 2 1.89 1.12 105.18
PLVRC07 NSI 120
BRRC01_0 BRITWELL 62.00 66.00 4.00 2.36 0.53 50.80 92
75.00 79.00 4.00 2.36 1.67 61.84
MPZRC01 MPUDZI 2.00 8.00 6.00 3.90 3.12 1.00 35
14.00 16.00 2.00 1.30 2.56 11.00
18.00 19.00 1.00 0.65 3.33 13.00
MPZRC02 3.00 5.00 2.00 1.93 0.75 3.00 55
12.00 16.00 4.00 3.86 10.95 8.00
36.00 39.00 3.00 2.89 2.83 25.00
MPZRC03 6.00 12.00 6.00 5.11 2.58 6.64 40
15.00 17.00 2.00 1.70 1.87 9.07
MPZRC04 NSI 8
0
MPZRC05 NSI 2
9
MPZRC06 NSI 4
0
MPZRC07 47.00 48.00 1.00 0.78 0.75 32.18 65
MPZRC08 36.00 39.00 3.00 2.86 9.96 30.23 88
MPRC22 5 7 2.00 1.62 4.29 3.83 115
21 23 2.00 1.62 2.28 16.09
Table 5: RC and DD Drilling Results
Diamond Drillhole Collars
Hole Identifier Azimuth (°) Dip (°) Drilled Length(m) UTM Easting(m) UTM Northing(m) UTM Elevation(m)
JDD01 349 44 154.88 663722 7846505 1134
JDD02 354 56 248.03 664193 7846797 1145
JDD03 354 51 295.88 664165 7846739 1145
JDD04 337 50 250.88 664125 7846715 1142
JDD05 340 47 79.68 664010 7846678 1137
JDD06 340 57 274.98 663920 7846618 1134
JDD07 339 46 199.88 663880 7846590 1135
JDD08 336 43 199.68 663824 7846552 1135
JDD09 340 47 68.72 664195 7846900 1147
JDD10 350 52 76.88 663768 7846572 1122
PLVDD01 332 51 169.98 663160 7846143 1138
PLVDD02 335 52 148.98 662798 7845936 1137
PLVDD03 337 44 154.98 662606 7845791 1131
PLVDD04 340 57 247.98 662571 7845686 1131
PLVDD05 350 55 97.98 662471 7845779 1130
PLVDD06 330 57 70.88 663140 7846180 1139
BMGDD01 337 50 103.98 663555 7846434 1136
BMGDD02 330 46 139.93 663528 7846350 1134
SHDD01 340 47 97.88 664336 7847082 1146
BRDD01_0 332 52 158.03 664726 7845022 1166
BRDD03_0 325 57 172.88 664454 7844838 1166
HDD01 334 45 91.88 664988 7843497 1140
HDD02 330 45 112.88 665208 7843548 1142
JPT11TW 341 56 112.00 663442 7846307 1135
JPT13TW 328 48 214.98 662661 7845717 1132
DHJ7_2TW 335 71 95.03 664057 7846690 1139
Reverse Circulation Drillhole collars
Hole Identifier Azimuth (°) Dip (°) Drilled Length(m) UTM Easting(m) UTM Northing(m) UTM Elevation(m)
SHRC01 321 57 153 664332 7847065 1148
SHRC02 331 62 112 664399 7847115 1149
JPRC01 340 57 110 664200 7846886 1147
JPRC02 341 57 140 664175 7846847 1145
JPRC04 349 60 120 663884 7846717 1135
JPRC05 344 52 101 663785 7846502 1134
BMGRC01 336 59 97 663460 7846364 1136
PLVRC01 335 54 110 663267 7846237 1138
PLVRC05 336 53 160 662678 7845850 1133
PLVRC06 340 57 150 662484 7845743 1130
PLVRC07 340 56 120 662430 7845734 1129
PLVRC10 327 50 70 662417 7845771 1129
MPZRC01 326 50 35 666367 7845590 1185
MPZRC02 330 50 55 666379 7845571 1187
MPZRC03 329 51 40 666073 7845420 1166
MPZRC04 330 52 80 665928 7845276 1183
MPZRC05 329 51 29 665855 7845396 1176
MPZRC06 153 54 40 666279 7845474 1174
MPZRC07 331 49 65 665903 7845317 1186
MPZRC08 329 47 88 666004 7845341 1179
MPZRC09 327 50 60 666088 7845397 1166
MPZRC17 327 50 91 666314 7845671 1176
MPZRC17_3 327 50 146 666421 7845505 1188
MPZRC19_1 327 50 108 666507 7845542 1198
MPZRC22 154 48 115 666197 7845620 1168
MPZRC23 327 50 65 666534 7845687 1196
MPZRC24 327 50 67 665738 7845587 1155
BRRC01_0 331 55 92 664701 7845064 1166
BRRC2_0 331 56 108 664541 7844976 1170
BRRC3_0 326 56 115 664426 7844878 1165
FSKRC01 340 50 41 665198 7844904 1162
TRRC01 340 50 50 666066 7844148 1143
TRRC02 340 50 122 665990 7844038 1150
TRRC03 340 50 145 665892 7843981 1150
HDRC01 332 50 50 664825 7843416 1139
HDRC02 325 47 120 665171 7843599 1144
Table 6: RC and DD Drilling Collar and Survey Information
Glossary
Term Definition
Aero-magnetics A geophysical exploration method in which a magnetometer, often mounted on an
aircraft, is used to measure variations in the Earth's magnetic field over a
specific area.
Assay A process of analysing a sample to determine its composition, particularly to
measure the concentration of metal (e.g., gold) within it.
Azimuth The angle between the north direction and the projection of the line to a
point, typically used in mapping and surveying.
Blank (Sample) A type of control sample with a known low concentration of analyte, used in
quality assurance to detect contamination.
Bottle Roll Assay A test method for determining gold content by using a rotating bottle and a
leaching solution, often used on-site in laboratories.
Brownfield Exploration Exploration activities conducted near or around an existing mine, contrasting
with greenfield, which targets unexplored areas.
Carbonate Refers to a group of minerals containing the carbonate ion (CO₃²⁻). In
exploration, carbonate alteration can signal the presence of hydrothermal
systems, where hot fluids have deposited metals in the surrounding rock.
Certified Reference Material (CRM) A material or substance with a certified composition used to ensure the
accuracy and consistency of analytical results.
Composite Sample A sample made by combining individual samples from various sections to create
a single, representative sample for analysis.
Core Length The total measured length of the sample core obtained from drilling, often
used to analyse mineral composition and structure.
Cut-off Grade The minimum grade or concentration of mineral that must be met for material to
be considered viable for processing.
Diamond Drilling (DD) A drilling technique using a diamond drill bit to retrieve core samples for
geological assessment, commonly used for detailed exploration.
Down-the-Hole Survey A measurement process to check the angle and path of a borehole as it is
drilled, ensuring it follows the planned direction.
Duplicate Sample A second sample taken from the same source to verify the accuracy and
reproducibility of assay results.
End of Hole (E.O.H.) The final depth reached in a borehole or drilling operation.
Fire Assay A traditional method to measure precious metal content by heating and melting
the sample, allowing separation of metal content for analysis.
Grade (g/t) The concentration of precious metal, typically measured in grams per ton (g/t)
of ore, used as a quality indicator of mineral deposits.
Greenfield Exploration Exploration of new, previously untouched areas with no prior mining activity
to discover new mineral deposits.
Lab Pulp Repeat (LPR) A quality assurance process where lab samples are pulverized and analysed to
ensure consistent assay results.
Magnetite An iron oxide mineral with the chemical formula Fe₃O₄ and is known for its
strong magnetic properties.
Mineralised Zone A section of rock where minerals, especially economically valuable ones, are
concentrated.
Motapa Exploration Program An exploration project focused on the Motapa area, involving trenching,
drilling, and geophysical surveys to identify and quantify mineral deposits.
Pyrite An iron sulphide mineral with the chemical formula FeS₂. In mining
exploration, pyrite is significant as it often forms in the same hydrothermal
environments that produce valuable minerals like gold, copper, and silver.
Quality Assurance / Quality Control (QA/QC) Procedures in place to ensure the reliability and accuracy of testing and
analytical methods in sampling and assay results.
Reverse Circulation (RC) Drilling A method of drilling that uses compressed air to bring rock cuttings to the
surface, allowing sampling without retrieving a core.
Riffle Splitter A device used in sampling to divide material into equal portions, helping
obtain a representative sample.
Sericite A fine-grained, mica-like mineral, typically a variety of muscovite or illite,
that forms through the alteration of feldspar and other minerals.
Shear Zone A region of rock that has been deformed by shear forces, often associated with
mineral deposits due to increased permeability and mineralization potential.
Shear Zone A region of rock where intense deformation has occurred due to the application
of shear stress, typically deep within the Earth's crust. This deformation
often creates fractures, faults, and altered rock textures, making these zones
more permeable and, as a result, more conducive to mineral deposits.
Silica A mineral compound made of silicon and oxygen (SiO₂). In mining exploration,
silica alteration is often a good indicator of mineralization, especially in
hydrothermal systems.
Trench Sampling A method of sampling in exploration where trenches are dug to expose bedrock,
allowing geological mapping and sampling.
True Width The actual thickness of a mineralized zone, as opposed to the core length
measured in drilling, adjusted for the angle of drilling.
Cautionary Note Concerning Forward-Looking Information
Information and statements contained in this news release that are not
historical facts are "forward-looking information" within the meaning of
applicable securities legislation that involve risks and uncertainties
relating, but not limited, to Caledonia's current expectations, intentions,
plans, and beliefs. Forward-looking information can often be identified by
forward-looking words such as "anticipate", "believe", "expect", "goal",
"plan", "target", "intend", "estimate", "could", "should", "may" and "will" or
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other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Examples of forward-looking
information in this news release include: our plans and timing regarding
further exploration and drilling and development at Motapa. This
forward-looking information is based, in part, on assumptions and factors that
may change or prove to be incorrect, thus causing actual results, performance
or achievements to be materially different from those expressed or implied by
forward-looking information. Such factors and assumptions include, but are
not limited to: failure to establish estimated resources and reserves, the
grade and recovery of ore which is mined varying from estimates, success of
future exploration and drilling programs, reliability of drilling, sampling
and assay data, assumptions regarding the representativeness of mineralization
being inaccurate, success of planned metallurgical test-work, capital and
operating costs varying significantly from estimates, delays in obtaining or
failures to obtain required governmental, environmental or other project
approvals, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects and other factors.
Security holders, potential security holders and other prospective investors
should be aware that these statements are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ
materially from those suggested by the forward-looking statements. Such
factors include, but are not limited to: risks relating to estimates of
mineral reserves and mineral resources proving to be inaccurate, fluctuations
in gold price, risks and hazards associated with the business of mineral
exploration, development and mining, risks relating to the credit worthiness
or financial condition of suppliers, refiners and other parties with whom the
Company does business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards, employee relations; relationships with and
claims by local communities and indigenous populations; political risk; risks
related to natural disasters, terrorism, civil unrest, public health concerns
(including health epidemics or outbreaks of communicable diseases such as the
coronavirus (COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral exploration and
development, including the risks of obtaining or maintaining necessary
licenses and permits, diminishing quantities or grades of mineral reserves as
mining occurs; global financial condition, the actual results of current
exploration activities, changes to conclusions of economic evaluations, and
changes in project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs, environmental, safety
or regulatory risks, expropriation, the Company's title to properties
including ownership thereof, increased competition in the mining industry for
properties, equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production rate
increase and currency fluctuations. Security holders, potential security
holders and other prospective investors are cautioned not to place undue
reliance on forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the possibility that the
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