Evolution Mining Ltd’ Cowal gold operation near West Wyalong in NSW, Australia, has been granted regulatory approval from the NSW Department of Planning and Environment to commence construction of the Galway-Regal-E46 (GRE46) exploration decline. This will allow Evolution to conduct further resource definition and discovery drilling following the announcement in April 2018 of a maiden GRE46 underground Mineral Resource of 5.90 Mt at 3.17g/t Au, for 603,000 oz of gold. It will also facilitate further drilling and delineation of the recently discovered high grade Dalwhinnie Lode.
Dalwhinnie Lode high-grade drilling results previously released include:
▪ 3 m (2.3 etw) grading 69.9g/t Au from 883 m (1535DD331H)
▪ 6 m (4.5 m etw) grading 67.3g/t Au from 687 m (E46D3219)
▪ 1 m (0.8 m etw) grading 38.0g/t Au from 774 m (E46D3171).
Development is expected to commence early in the March 2019 quarter and will involve capital expenditure of approximately A$20 – A$22 million over FY19 and FY20. A further investment in underground drilling of A$6 – A$7 million is expected to be spent on an initial 36,000 m drill program.
Commenting on the approval, Evolution’s VP Discovery and Chief Geologist, Glen Masterman, said: “This is another important step towards achieving our objective of increasing Cowal’s production rate to over 300,000 oz/y on a sustainable basis. As indicated by recent drilling results, we are excited about the potential to add significant underground resources of high grade material over a long strike length.”
Evolution Mining is a leading, growth-focussed Australian gold miner. Evolution operates five wholly-owned mines – Cowal in New South Wales, Cracow, Mt Carlton and Mt Rawdon in Queensland, and Mungari in Western Australia. In addition, Evolution holds an economic interest in the Ernest Henry copper-gold mine that will deliver 100% of future gold and 30% of future copper and silver produced from an agreed life of mine area. Outside of the life of mine area Evolution will have a 49% interest in future copper, gold and silver production.
