It reported a 22% increase in Blanket Mine's underground measured and indicated gold resources and declared a maiden surface resource estimate.

It has reported a maiden measured and indicated resource of 379,000 ounces of gold at its Motapa property in Zimbabwe, adjacent to its Bilboes development project.

Caledonia Mining Corporation reported a 16% rise in second-quarter revenue to $75.9 million as Blanket Mine gold output recovered from a weak first quarter, while the board declared a quarterly dividend of 14 US cents per share.

"The potential to develop a low-cost processing route for this near-surface mineralisation could provide an attractive opportunity to complement Blanket's existing underground operations and unlock additional value," Learmonth said.

Gold production rose to 17,360 ounces at the Zimbabwe mine as access to higher-grade ore improved, with Caledonia reaffirming full-year guidance.

"These results demonstrate the potential to enhance Bilboes' long‑term value; consistent high‑grade intersections at Motapa North offer the opportunity to define a substantial resource close to planned Bilboes infrastructure," Mark Learmonth said.

It replaced authors in the Canadian technical report with individuals who do meet the NI 43-101 definition, and the updated report was filed on SEDAR+ yesterday.

Higher realised gold prices lifted first‑quarter revenue and EBITDA despite lower production, and reiterated Blanket full‑year 2026 guidance of 72,000-76,500 ounces.

Caledonia Mining Corporation Plc reported Q1 2026 gold output of 14,767 ounces at its Blanket Mine, citing sequencing, equipment downtime and difficult ground, and said it is taking operational steps — including a seven‑day shift, a contractor appointment and an extra ball mill — to restore production and meet full‑year guidance.