Evolution Mining has released an updated mineral resource estimate for its Ernest Henry project.
Ernest Henry is located 38 kilometres north-east of Cloncurry, Queensland and is a large-scale copper-gold operation. Its mine life was extended in June.
As of June 30, the Ernest Henry mineral resource is estimated at 101.5 million tonnes at 1.25 per cent copper and 0.73 grams per tonne (g/t) gold for 1.3 million tonnes of contained copper and 2.4 million ounces of contained gold net of mining depletion.
This is an increase of 6.7 million tonnes, 76,000 ounces of contained gold and 63,000 tonnes of contained copper net of mining depletion compared to the December 31 2022 mineral resource estimate (MRE).
The new MRE was said to be informed by results from 26 new drill holes completed from January 1 to March 8, when a weather event occurred.
The new MRE will now inform the Ernest Henry extension feasibility study engineering work following the results of the mine extension pre-feasibility study that demonstrated an opportunity to extend the Ernest Henry sub-level cave operation, extending the mine life by 17 years to 2040.
“Ernest Henry continues to demonstrate its world class status with additional Mineral Resource growth since the previous estimate with the addition of only 26 new holes,” Evolution Mining chief executive officer Lawrie Conway said.
“This is the fourth increase in the first 18 months of 100 per cent ownership, with a net increase of 41–44 per cent in contained metal over this period.
“Resource increases outside the mine extension feasibility study footprint highlights the excellent potential for further resource growth and the potential to operate the plant at full capacity over the full 17-year mine life extension to 2040.”
