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Galway-Regal-E46 exploration decline, Australia

15th February 2019

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Galway-Regal-E46 (GRE46) exploration decline.

Location
The project is located at Evolution Mining’s Cowal gold operation in New South Wales, Australia.

Client
Evolution Mining.

Project Description
The project involves the construction of an exploration decline, which will enable Evolution to conduct further resource definition and discovery drilling. This follows the announcement of a maiden underground mineral resource in April of 5.9-million tonnes at 3.17 g/t gold for 603 000 oz at GRE46 in April. The aim of the project is to increase production to more than 300 000 oz/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The project is expected to cost between A$20-million and A$22-million over the 2019 and 2020 financial years. Evolution will also invest between A$6-million and A$7-million on an initial 36 000 m drill programme.

Duration
Start early in the March 2019 quarter.

Latest Developments
The Cowal gold operation has been granted regulatory approval from the New South Wales Department of Planning and Environment to start construction of the GRE46 exploration decline.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Evolution Mining, tel +61 2 9696 2900.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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