Further growth in Ernest Henry mineral resource

The numbers at Ernest Henry just keep getting bigger, with Evolution Mining today announcing its fourth mineral resource increase since taking full ownership of the copper-gold operation from Glencore early last year. Its drilling work at the Cloncurry site has added a total of 700,000 ounces of contained gold and 390,000 tonnes of contained copper (net of mining depletion) over an 18-month period. The mineral resource is now estimated at 101.5 million tonnes at 1.25 per cent copper and 0.73g/t gold for 1.3 million tonnes of contained copper and 2.4 million ounces of contained gold. Evolution recently outlined a $500 million life extension project that would take Ernest Henry mining operations out to at least 2040. It will feed the new figures into the feasibility study that is underway for that development. “Ernest Henry continues to demonstrate its world-class status with additional mineral resource growth since the previous estimate with the addition of only 26 new holes," Evolution chief executive officer and managing director Lawrie Conway said. "This is the fourth increase in the first 18 months of 100 per cent ownership, with a net increase of 41-44 per cent in contained metal over this period. "Resource increases outside the mine extension feasibility study footprint highlight the excellent potential for further resource growth and the potential to operate the plant at full capacity over the full 17-year mine life extension to 2040.” North-south view showing the December 2022 mineral resource model (grey) and June 2023 mineral resource model (orange.) The latest mineral resource estimate brings an increase of 6.7 million tonnes (7 per cent), 76,000 ounces (3 per cent) of contained gold and 63,000 tonnes (5 per cent) of contained copper net of mining depletion compared to the December 31 figures. The connection of mineralisation between Ernie Junior and the lower lens of the Main ore body, as well as expansion of the Main ore body below the 775mRL, drove most of the growth in the latest mineral resource update. The company said the addition of metal outside the feasibility study footprint between the 1,125mRL and 775mRL had the potential to become a source of future production that could complement the 17-year mine life extension. After a major interruption from severe wet weather in March, Evolution now has surface drilling underway on the Bert ore body and two diamond drill rigs are expected to restart underground in September.

Further growth in Ernest Henry mineral resource

Industry Queensland

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