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Evolution Energy Minerals kicks off Chikundo RC drilling program

ASX News, Materials
ASX:EV1      MCAP $8.165M
15 September 2026 11:18 (AEST)

RC drilling is underway at the Chikundo copper project.

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 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.

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