BLANKET PRODUCTION UPDATE AND 2012 OUTLOOK
TORONTO, Jan. 24, 2012 /CNW Telbec/ - Caledonia Mining Corporation ("Caledonia") (TSX: CAL) (NASDAQ-OTCQX: CALVF) (AIM: CMCL) today announces gold production from the Blanket Mine in Zimbabwe during Q4 2011 which ended December 31, 2011.
The Company is pleased to announce a successful year at the Blanket Mine which produced 35,826oz of gold, an increase of 102% over the previous year.
In accordance with our aim to continuously improve operations at Blanket, the following infrastructure, process and equipment investment programmes were undertaken during the final quarter of 2011:
Following a year in which Caledonia has increased production at Blanket by 102% to 35,826oz (2010 gold production was 17,707oz), we are now confident that we will be able to achieve our targeted gold production of 40,000oz for the current financial year.