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Highlights:

  • EVN reports high-grade gold intercepts from Genesis and Arctic at the Mungari project
  • Evolution Mining extends shallow copper zones at Northparkes’ Major Tom and E51 prospects
  • EVN to begin modelling and optimisation at Northparkes following extended Q3 drilling

Evolution Mining Limited (ASX:EVN) has reported encouraging exploration results from its Mungari operation in Western Australia and Northparkes joint venture project in New South Wales for the June 2025 quarter. The company is targeting continued underground production at Mungari while evaluating near-surface copper opportunities at Northparkes.

At Mungari, Evolution focused on infill and extensional drilling at the Kundana area. Drilling at the Genesis deposit, part of the broader Kundana system, confirmed the geological continuity and potential for future mining extensions near existing infrastructure. New intercepts include 0.44 metres grading 236.6g/t gold, 0.3 metres at 264g/t, and 0.35 metres at 195.5g/t. These results are expected to support further refinement of the underground Mineral Resource and identify new mining fronts between Genesis and the adjacent Barkers orebody.

Meanwhile, surface drilling at Arctic, another Kundana target, returned high-grade intercepts including 1.2 metres at 68.7g/t and 0.65 metres at 31.4g/t gold. These results, generated from targets beneath the Arctic Mineral Resource along the Strzelecki line of lode, indicate potential for underground expansion in areas that remain sparsely explored at depth.

At Northparkes (Evolution 80% interest), the company focused on near-surface exploration aimed at identifying potential open-pit mineralisation close to existing processing infrastructure. Drilling at the Major Tom and E51 prospects continued to return shallow copper-gold mineralisation. Significant results from Major Tom include:

  • 171.0 metres (downhole width) at 0.38% copper and 0.06g/t gold from 45.0 metres, including 65.0 metres at 0.57% copper and 0.09g/t gold
  • 116.0 metres at 0.33% copper and 0.05g/t gold from 124.0 metres, with 16.0 metres at 0.93% copper and 0.14g/t gold
  • 22.0 metres at 1.18% copper and 0.14g/t gold from 138.0 metres

At E51, drilling intersected 84.0 metres grading 0.43% copper and 0.13g/t gold from 96.0 metres, including 24.0 metres at 0.83% copper and 0.13g/t gold from 106.0 metres. These results confirm the continuity of mineralisation along the monzonite contact zone and have extended known mineralised trends.

Evolution stated that resource modelling and pit optimisation studies at Northparkes will begin after drilling concludes in the September 2025 quarter. The current drill program was extended into Q3 to test the full lateral extent of copper mineralisation at both prospects. Several zones along the monzonite contact remain untested and will form part of the company’s FY26 exploration strategy.

Dr Glen Masterman, Vice President Discovery, commented that the latest drilling supports the company’s exploration focus and outlines opportunities for both underground and open-pit development at its key Australian assets.

EVN trading at 0.65% lower at AUD 7.65 per share as on 16 july 2025.