Caledonia Mining Corporation (CMCL) Achieves High-Grade Drill Results at Blanket Mine

Caledonia Mining Corporation Plc (NYSE:CMCL) is one of the 10 most undervalued gold stocks to buy, according to analysts. On June 23, the company announced promising high-grade drill results from its resource expansion program at the Blanket Mine.

Caledonia Mining Corporation (CMCL) Achieves High-Grade Drill Results at Blanket Mine

A closeup image of a miner holding a pile of gold nuggets, a representation of the company’s royalty.

The exploration results showed better-than-expected grades with widths in the Blanket and Eroica orebodies. The results also showed significant discovery in the Blanket area with impressive grades of 6.71 g/t gold over 31.8 meters and 17.73 g/t gold over 10.8 meters.

The positive exploration results should bolster confidence about existing mineral resources and expand resources below 1,110 meters. Caledonia Mining Corporation expects the results to lead to an increased overall mineral resource estimate and extended mine life.

Caledonia Mining Corporation Plc (NYSE:CMCL) is a gold producer, with its primary asset being the Blanket Mine. It is engaged in the exploration, development, and operation of gold mines.

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Disclosure: None.