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Evolution Mining Ltd.
Summary
| Project: | Cowal | |
|---|---|---|
| Deposit: | E42 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 12-9-2016: Evolution Mining Ltd. announces an Exploration/Drilling Update report for its E42 deposit at the Cowal project. Drilling results incl. 41m @ 6.46g/t Au from 583m. Evolution Mining Limited (ASX:EVN) (“Evolution” or the “Company”) is pleased to p | |
| Resources: | (Reserve, Total): 99.4Mt @ 0.89g/t Au for 2.85Moz Au contained at Cowal | |
| CP/QP: | [Overall Report]: Joseph Booth (Internal) | |
| ABSTRACT: | Evolution Mining Limited (ASX:EVN) (“Evolution” or the “Company”) is pleased to provide an update on its E42 Stage H cutback resource definition drilling program at Cowal. Seven diamond drill rigs are currently undertaking surface drilling from the crest of the south-west wall of the E42 pit. The program continues to return excellent results. In-fill drilling results have confirmed the continuity of mineralisation within the Stage H cutback design. Stepout drill holes have intersected new zones of mineralisation which extend the limits of mineralisation to the south west of E42. The drill results have intersected broad zones of mineralisation with consistent grades. The occurrence of high-grade intercepts indicates the potential for an increase in the grade of the current mineral resource estimate. Mineralisation remains open down plunge. Approximately 75% of the resource definition drilling for the Stage H cutback has been completed with 33% of the assay results returned to date. The drill program is scheduled to be completed by the end of October. As at 31 December 2015 Cowal’s Ore Reserves were estimated at 99.4 million tonnes grading 0.89g/t gold for 2.85 million ounces2 . The resource model will be updated to incorporate the results of the current E42 drill program early in 2017. Commenting on the results, Evolution’s Executive Chairman Jake Klein said: “We are becoming increasingly excited about the results this drill program is returning. The scale of this mineralised system is clearly impressive. This drilling further confirms Cowal’s position as a long-life, low cost, cornerstone asset within Evolution’s p | |
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