Evolution Energy Minerals (ASX: EV1) has identified a second new discovery located to the east of the Chilalo Mining Licence and north of the recently reported Chilalo East discovery in Tanzania.
Assay results from 11 holes for 1255m of a 5,440m, 44 hole reverse circulation drilling programme at its Chilalo Graphite Project in south-east Tanzania has further confirmed the project’s upside potential.
Chilalo is already host to a high-grade mineral resource of 20.1Mt at 9.9% TGC for 1,991Kt of contained graphite.
Highlights
Drilling has identified a new area of mineralization located to the east of Chilalo and north of previously announced new discovery in Chilalo East – to be known as Chilalo E2.
Mineralization at Chilalo E2 is near-surface with significant width and grades, notable intercepts included:
- 22m at 5.68% TGC from 80m in hole NRC22-203
- 18m at 5.18% TGC from 16m in hole NRC22-213
- 20m @ 5.42% TGC from 80m in hole NRC22-216
- 20m at 5.76% TGC from 2m in hole NRC22-219
- 22m @ 6.34% TGC from 54m in hole NRC22-220
Mineralization has been confirmed over 1.1km out of a potential 5km strike length indicated by the electromagnetic conductor.
The recent discoveries of E1 and Chilalo East highlight the potential for lower cost mining, production expansion and extensions to mine life.
“The shallow depth, width, grade and close proximity of Chilalo E2 to the existing Chilalo mineral resource and the recently discovered Chilalo East deposit is significant for Evolution. These results clearly demonstrate the scope to materially grow the Chilalo mineral resource and thereby potentially enable a production expansion, extension to mine life and reduction in mining costs,” Managing Director, Phil Hoskins, said.
For further information please visit: https://evolutionenergyminerals.com.au/
