The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • RC drilling underway at Chikundo copper project
  • Advancing project from target definition to direct subsurface testing
  • Targeting highly anomalous zones within copper system
  • Nine priority holes for approximately 1,800m designed to test “Malachite Pit”

Evolution Energy Minerals (ASX:EV1) has kicked off an RC drilling program at the Chikundo copper project in the Lindi Region of southern Tanzania.

The Watchlist — short video interviews with ASX leaders. Watch now.

The program is designed to test previously identified surface mineralisation and highly anomalous pathfinder geochemistry at the Chikundo prospect, as well as anomalous geochemistry and geological indicators at the Chikundo West, Chikundo North and Nangurugai prospects.

The initial priority holes are focused on the highly prospective ground at the Chikundo prospect, including the Malachite Pit and the coherent northeast-trending Chikundo copper anomaly.

These holes are designed to test whether the copper mineralisation and hydrothermal alteration observed at surface continue at depth and along strike. Daily geological logging and pXRF analysis will guide the program, with the optional holes providing flexibility to follow up geological observations as drilling progresses.

The designed program comprises 17 RC holes for approximately 3,350m. Nine priority holes totalling approximately 1,800m will test the Malachite Pit sulphide zone, historical drilling and the strike length of the main Chikundo anomaly. Eight optional holes totalling approximately 1,550m will provide follow-up coverage across the broader target portfolio.

“Commencing drilling at Chikundo is a major milestone for EV1. For the first time, we are directly testing beneath the strongest copper and pathfinder anomalies at a project where copper mineralisation is visible at surface and historical drilling returned high-grade copper over narrow intervals,” MD Craig Moulton, said.

“While it has taken longer than we had anticipated to secure a contractor, with the rig now on site and operating, our team can focus on safely executing the programme and generating the data needed to assess the scale and continuity of the Chikundo copper system.

“This program gives EV1 meaningful exposure to a new copper discovery opportunity alongside the company’s advanced Chilalo graphite project. We look forward to updating shareholders as drilling progresses and validated assay results become available.”

The priority program includes holes designed to twin and extend historical diamond drill holes that were only selectively assayed for copper, including a past intercept of 0.4m at 5.27% copper, as well as historical holes that returned 1.345% copper and 1.0m at 1.03% copper.

EV1 was steady 1.0¢ with a Mkt cap of $8.165M prior to markets opening.

Join the discussion: See what HotCopper users are saying about Evolution Energy Minerals now and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

ev1 by the numbers
More From The Market Online

Electro Optic Systems lands new $700M Middle-East counter drone contract

Electro Optic Systems has entered an agreement with a Middle Eastern Gulf state for a nation-wide,…
Image of an oil well at dusk.

AXP Energy makes strategic addition of seven Oklahoma wells to oil and gas portfolio

AXP Energy has entered into an agreement to acquire seven previously producing wells and associated infrastructure…

AuKing Mining hits multiple high-grade TREO intersections across Nathace Hill in Malawi

AuKing Mining has obtained outstanding TREO intersections from its RC drilling at the Tundulu rare earth…
The words "ASX Market Open" appear alongside a Bull ( RISE ) with a market chart graphic floating above it. The whole image is faded yellow and orange.

ASX Today: XJO ends the week on a stronger note above 8,700pts intraday; US futures green

The XJO looked set to end the week on a strong note with the bourse back just above 8,700pts as at 2.40pm AEDT...