Blanket Mines Gold production delivered to the refinery in October 2012 was 4,479 ounces.
Caledonia's financial position continues to improve. With almost $25 million of cash on hand Caledonia has sufficient cash resources to invest in its existing projects and also in potential new opportunities." Read more at
Caledonia Mining Reports Record High Q3 2012 Production and Gross Profits
The 2012 drilling programme continued with the objectives of further identifying and defining extensions of the mineralised zone identified in 2011 and increasing the confidence level of the information on this mineralised zone.
As at October 25, 2012, 30 holes and 8,400 metres of drilling had been completed and three rigs are currently working on the site.
To date, an area of copper mineralization has been defined as follows:
* current identified strike length of 1.3 km and a dip extent of 900 metres;
* mineralisation intersected at depths from 98 to 579 metres;
* thickness of mineralized zone varies from 10 to 27 metres;
* average copper grade of 0.52%; and
* possible extensions of the mineralized zone to the west and to depths below 580 metres will be drill tested in future.
The 2012 drilling programme is expected to be completed shortly following which the drill results will be analysed and interpreted.
Caledonia expects to issue an NI 43-101 compliant copper resource and reserve statement by June 30, 2013.
Caledonia will continue to manage its cash resources so that it retains the financial capacity to progress this project as fast and as far as possible without requiring third party involvement or equity funding.
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