Announcement Date: 2022-08-01
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Evolution Mining Ltd.
Project name: Ernest Henry
Location: Australia
Commodities: Gold,Copper
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to release an updated Mineral Resource estimate at Ernest Henry. The new model includes 30,159 metres of new drilling from 119 drillholes for a total aggregate increase of 28% in contained copper and 24% in contained gold, along with upgrades to the Mineral Resource classifications. The update includes all drilling results to 31 May 2022 and the model is depleted for mining to June 30, 2022. The Mineral Resource was estimated into an interpreted 0.7% copper grade shell consistent with the previous estimate completed by Glencore. The new Mineral Resource estimate is being used to inform the Mine Extension Pre-feasibility study (PFS) due for completion by December 2022. The study will benefit from a significant resource increase above the 1,200mRL as well as growth below the 1,200mRL. The increased confidence in ore body geometry and grade distribution has resulted in an 82% addition to the Measured resource category and a 19% addition to the Indicated category. Two surface rigs are continuing a program of infill drilling below the 1,200mRL. The purpose of the surface holes is to drill the ore body at a more optimal angle, continue upgrading resource classification and to further delineate extensions of mineralisation
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