EXCEPTIONAL RESULTS FROM STEP-OUT DRILLING AT ERNEST HENRY
Key highlights
▪ Underground growth potential – exploration drilling from underground at Ernest Henry has returned exceptional results from extensional drilling to the Bert orebody.
The results include the highest-grade gold intercept ever drilled at Ernest Henry, showing the potential of Bert as an alternate mining front at the operation Ernest Henry
▪ Significant assays results have been received from Bert and Ernie Junior extensional drilling.
Mineralisedintercepts include:
▪ 51.7m (43.0m etw1) grading 4.12g/t gold and 1.65% copper from 93.5m (EH1402)
▪ 37.3m (26.0m etw) grading 1.03g/t gold and 1.59% copper from 469.7m (EH1395)
▪ 72.1m (69.0m etw) grading 0.59g/t gold and 0.88% copper from 134.0m (EH1385)
▪ Both orebodies remain open with strong potential for Mineral Resource growth
Commenting on the new drilling results, Evolution’s Vice President Discovery, Glen Masterman said:‘Drilling results from Bert continue to reinforce the significant growth options at Ernest Henry.
Located adjacent to the north wall of the pit, Bert represents a potential production target that could be mined independently of the underground materials handling system.
We are excited about the opportunity to extend the mineralisation footprint at Bert with further drilling to be completed during FY25.’1 Estimated true width Ernest Henry, Queensland (EVN 100%)Assay results for extensional drilling at Bert and infill drilling immediately north of the mine extension study have been received this quarter with an Ernest Henry record-breaking gold intersection at Bert (see Figure 1).
Approximately 50m down-plunge of the current Bert interpretation, EH1402 has intersected 51.7m (43.0m etw)grading 4.12g/t gold and 1.65% copper.
The intersection includes a high-grade interval of 21.0m (19.0m etw)grading 8.15g/t gold and 2.23% copper.
The high-grade mineralisation is showing good continuity down-plunge,having been previously intersected by four drill holes.2 Further extensional drilling from underground is planned in FY25 to test the down-plunge extension from EH1402.
Northparkes, New South Wales (EVN 80%)
At Northparkes, drilling has recommenced at the Major Tom and E51 prospects. Drilling is designed to follow up previously announced3 high-grade drilling results including 180m grading 0.97% copper and 0.13g/t gold at MajorTom and 142m grading 0.88% copper and 0.14g/t gold at E51.
Holes are planned with the aim of testing scale and continuity of near-surface, copper-rich mineralisation.
Both prospects are within 4km of the plant and straddle the contact between an underlying monzonite stock and overlying volcanic rocks, an important geological position forkey orebodies at Northparkes.
Greenfields Exploration Update
Cloncurry North (EVN earning 80%)4The Cloncurry North project is located within 15km of Ernest Henry.
Evolution recently acquired high-resolution gravity data at the project, identifying new untested drill targets in the same rocks hosting copper and gold mineralisation at Ernest Henry and with a similar geophysical signature.
Drilling is planned to commence on these target areas during the September 2024 quarter.
Lake St. Joseph (100%) and October Gold (EVN earning 75%)4
The field season has commenced at Evolution’s wholly owned Lake St. Joseph project, located ~60km south ofPickle Lake, Ontario, in the Rice Lake – Pickle Lake greenstone belt.
Till sampling and mapping will be completed during the summer months in Canada with the objective of developing future drilling targets.
Exploration will also commence in the September 2024 quarter at the October Gold project in the Abitibi greenstonebelt in Ontario.
The October project is located ~35km north-west and along the same mineralised corridor as the 12Moz Côté Lake mine5 situated 110km south-west of Timmins, Ontario.
i hold EVN
this paired with the quarterly released today should see the share price lift a little