Evolution Energy Minerals (ASX:EV1) Reports Significant Findings at Chikundo Prospect
Exploration Highlights
Evolution Energy Minerals Limited (ASX: EV1) has identified significant copper, lead, and zinc anomalies at the Chikundo Volcanic Hosted Massive Sulphide (VHMS) prospect within the Chilalo Graphite Project in Tanzania. Recent surface sampling confirmed highly anomalous base metal values, supporting the potential for an extensive VHMS system spanning over 1 km.
New Prospects Identified
The company has identified three new VHMS prospects within its tenements, characterized by anomalous base metals and pathfinder geochemistry. A review of historical drilling data revealed over 5% copper in near-surface samples, enhancing the prospectivity of the area.
Next Steps
Following these promising results, Evolution Energy Minerals plans to undertake a systematic exploration programme, including geological mapping, soil sampling, trenching, geophysical modelling, and targeted drilling. The aim is to delineate the Chikundo discovery and define a maiden mineral resource estimate.
Executive Comments
CEO George Donne stated, “The discovery of the Chikundo is hugely exciting for Evolution and has the potential to give us exposure to other highly desirable battery metals. While we focus on the delivery of our Chilalo coarse flake graphite project, Chikundo broadens our asset portfolio and offers the chance to capture meaningful additional value. Although we are currently targeting final investment decision at Chilalo, this mineralisation shows that our tenements are highly prospective and that exploration is still an important part of our development plan.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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