Caledonia Mining Corporation Plc has announced that further to its announcement on December 10, 2020, that it had entered into an option agreement over Glen Hume, it has now entered into a further option agreement in respect of another area in Zimbabwe, Connemara North.
This option agreement gives the Caledonia an exclusive right to explore and subsequently if exploration is successful and at its sole discretion, acquire the mining claims.
The mining claim is situated in Gweru mining district and has historically produced significant quantities of gold.
Connemara North is the northern section of the currently closed Connemara mine which was previously owned by First Quantum Minerals. The mine was placed on care and maintenance in 2001 and subsequently disposed of in 2003.
Commenting on the announcement Caledonia Mining CEO Steve Curtis said, “We are pleased to enter into this option agreement which gives us the right to explore and subsequently to acquire mining claims over the Connemara North property, part of a wider area that contained a previously operational mine which shows great potential and has been lying untapped for 20 years.”
He added, “Connemara North is also in close proximity to the Glen Hume property over which we have already acquired an option. We are excited at the prospectivity of these two properties and if evaluation work proves successful and our exploration programs deliver favorable results, Caledonia will have a great opportunity to establish a footprint in the highly prospective Zimbabwe Midlands which could deliver operating synergies between the two sites.
“This has been a busy year for Caledonia and with the completion of Central Shaft in sight I am pleased that we are now able to start delivering on the other components of our corporate strategy.”
This follows the signing of a memorandum of understanding between government and Caledonia which will allow Caledonia to evaluate mining rights, properties and projects in the gold sector that are controlled by government with a view to assess the potential projects to advance developments.