Caledonia Mining Corporation (TSX:CAL) (OTCQX:CALVF) (AIM:CMCL) ("Caledonia") announces gold production from its 49 per cent owned subsidiary, the Blanket Mine ("Blanket") in Zimbabwe, for the quarter and year ended December 31, 2013. All production numbers are expressed on a 100 per cent basis and are based on mine production data and are therefore subject to change following final assay at the refiners. Production includes work-in-progress as at December 31, 2013.
Commenting on the production for Q4 and the whole of 2013, Stefan Hayden, Caledonia's President and Chief Executive Officer said:
"I would like to congratulate the entire management and workforce at Blanket for another creditable performance in 2013. Production for 2013 was little changed from 2012 notwithstanding the fact that during 2013 the achieved head grade returned towards the normal life of mine average of 3.84 grams per tonne, as previously advised. Production for 2013 was 3.4 per cent ahead of the targeted production level of 44,000 ounces.
"The underground development that is required to achieve the projected increase in gold production to 48,000 ounces in 2014 has been completed and I look forward to Blanket delivering this increased level of production in 2014".
Caledonia expects that its financial results for the quarter and year to December 31, 2013 will be released on March 31, 2014.
Source: Marketwire
