Caledonia Mining CORP PLC 6-K Filing

Ticker: CMCL · Form: 6-K · Filed: Nov 24, 2025 · CIK: 766011

Sentiment: neutral

Filing Stats: 4,513 words · 18 min read · ~15 pages · Grade level 11.3 · Accepted 2025-11-24 16:49:01

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 Of the Securities Exchange Act of 1934 For the month of November 2025 Commission File Number: 001-38164 CALEDONIA MINING CORPORATION PLC (Translation of registrant's name into English) 2 Mulcaster Street St Helier Jersey JE2 3NJ (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ] Form 40-F [ ] INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K New S-K 1300 Technical Report Study for the Bilboes Gold Project Caledonia Mining Corporation Plc (Caledonia) announces the publication of a new Technical Report Summary (TRS) titled “Bilboes Gold Project Technical Report Summary” on the Bilboes Gold Project, Zimbabwe (Bilboes or the Project), prepared by DRA Projects (Pty) Ltd (DRA) in accordance with Subpart 1300 and Item 601(b)(96) of Regulation S-K, as adopted by the United States Securities and Exchange Commission (S-K 1300), with an effective date of 31 October 2025. The results of the TRS are summarized below. Report Purpose Caledonia mandated DRA to complete the TRS to report a Feasibility Study (FS) on the Bilboes Gold Project, Zimbabwe. The purpose of the TRS is to report mineral resources and mineral reserves in accordance with S-K 1300, and to present the results of an FS for the implementation of open pit mining to recover the gold mineralization. Project Location The Bilboes properties are located in the Matabeleland North Province of Zimbabwe. The Isabella-McCays properties are situated approximately 80 km north of Bulawayo while Bubi is situated approximately 100 km north of Bulawayo. Bubi is 32 km due north-east of Isabella. Bilboes has rights to three groups of claims covering an area of 2,731.6 ha that consist of four open-pit mining properties in Matabeleland North Province of Zimbabwe. These open pits are referred to as Isabela North; Isabela South; McCays and Bubi in the figure below. Regional Location of the Bilboes Project Permits Bilboes has been operating in Matabeleland since 1989. It holds the necessary mining permits and complies with the terms of the Mines and Minerals Act and allied regulations with respect to all of their claims and in particular that all of the registration certificates are valid, and the protection certificates are up to date. Bilboes thus requires no further permits to explore or produce from the current operational areas, but further permits will be required for the proposed haul road between Bubi and Isabella plant. A water usage study for the utilization of the Bafana dam as a water source will have to be included in an updated Environmental Impact Assessment (EIA) and water use license. History Initial exploration by Anglo American Corporation of Zimbabwe Ltd. (AMZIM) at Isabella allowed the estimation of a small oxide Resource and an open-pit and heap-leach mine was commissioned in 1989. Subsequent exploration extended life at Isabella and new discoveries were made at Bubi and McCays, which has yielded production of 9,191 kg of gold (295,500 oz) to December 2024. All mining has been from open pit oxide ore utilizing the heap leach extraction processing method. Exploration for sulphide Mineral Resources began in 1994/95, with 17,650 m of exploratory drilling being completed by 1999, covering a strike length of 3,440 m. A maiden Mineral Resource estimate for the sulphide Mineral Resources was completed by SRK Consulting in 2009, containing 4.75 Mt of Inferred Mineral Resources grading 3.49 g/t. This estimate used a 2.0 g/t cut-off for delineation of the mineral Resource estimation domains. Geology and Resource Estimate Geological Setting and Mineralization The Bubi Greenstone Belt which consists of volcanic rocks of the Upper Bulawayan Group and capped by sedimentary sequences of the Shamvaian Group, all of which have been metamorphosed into felsic and mafic schists, underlies the Bilboes Properties. Gold deposits are concentrated at the interface between these two groups, where major structural breaks and splays provide pathways for hydrothermal vein mineralization. Gold is associated with sulphides that is commonly found in hydrothermal systems. These include pyrite and arsenopyrite as major components, but copper, lead, zinc, antimony, are also present in some deposits. Common alteration associated with gold mineralization is silicification, with lesser sericite and chlorite alteration. Deposit Types Mineralization is hydrothermal and consists of silicified stockworks that host pyrite and arsenopyrite. The stockworks are characterized by a series of subparallel echelon zones. The gold is very finely dispersed within the sulphides and is refractory. All the deposits are oxidized with the sulphide interface occurring between 6 m

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