Join our daily newsletter At The Bell to receive exclusive market insights
- Evolution Mining (EVN) flags “significant” new copper-gold extensions at its Ernest Henry operation in Queensland from recent drilling in the area
- New surface drillholes as part of Evolution’s exploration work in the area returned results such as 157 metres at 1.26 grams per tonne (g/t) gold and 1.62 per cent copper
- Evolution says these new results support its Ernest Henry pre-feasibility study (PFS) and represent the potential for further extensions to the project’s mine life
- Today’s results will be incorporated into a planned resource update to be released in the March quarter of next year
- Shares in Evolution Mining are up 3.89 per cent to $2.67 at 11:16 am AEDT
ASX 200-listed gold miner Evolution Mining (EVN) has flagged “significant” new copper-gold extensions at its Ernest Henry operation in Queensland from recent drilling in the area.
The company on Thursday said new surface drillholes as part of its ongoing Ernest Henry exploration program struck gold and copper mineralisation below the project’s pre-feasibility study (PFS) mine life extension area.
The results include a 157-metre hit at 1.26 grams per tonne (g/t) gold and 1.62 per cent copper and a 102-metre hit at 1.06 g/t gold and 1.39 per cent copper.
Evolution said these new results would support the Ernest Henry PFS and represented the potential for further extensions to the project’s mine life.
Executive Chair Jake Klein said Ernest Henry was a “world-class” operation.
“The outstanding copper-gold grades and widths in the new drilling results demonstrate the exciting potential for mineralisation to extend up-plunge and at depth,” Mr Klein said.
“This showcases the significant opportunity that exists to extend the life of this high-margin operation.”
The company said today’s results were not reflected in the current Ernest Henry mineral resource but would be incorporated into a planned resource update to be released in the March quarter of next year.
Drilling is still ongoing in the area to test the continuity of mineralisation in “sparsely-tested” areas up-plunge within the PFS extension area.
Shares in Evolution Mining were up 3.89 per cent to $2.67 at 11:16 am AEDT.
