Evolution Energy Minerals (ASX:EV1) is pleased to announce that following a period of engagement with the Government of Tanzania, has received confirmation from the Government of Tanzania that its prospecting licence PL 11034/2017 is in good standing subsequent to lodgement of a renewal application during 2021.
Pursuant to the terms of the Share Exchange Agreement between Evolution and Marvel Gold Limited, Evolution has now paid Marvel a further A$1,000,000, bringing the cash consideration for the acquisition of the Chilalo Graphite Project to A$2,000,000.
Evolution is committed to supplying sustainable graphite solutions for the global green economy and in doing so, create the first net zero carbon graphite mine. A DFS confirmed the opportunity to produce high-quality flake graphite at Chilalo and the company intends to apply Chilalo flake graphite to downstream processing to produce battery anode material, expandable graphite, micronised graphite and graphite foil.
The Chilalo Project hosts a high-grade mineral resource of 20.1Mt at 9.9% total graphitic carbon (TGC) for 1,991 Kt of contained graphite.
For further information please visit: https://evolutionenergyminerals.com.au/