Evolution Energy Minerals (ASX: EV1, FSE: P77) just announced that assay results from the drilling program at its Chilalo Graphite Project in south-east Tanzania have confirmed the discovery of a new high-grade mineralised zone.
These are located to the east of the Chilalo Mining Licence zone which hosts a high-grade mineral resource of 20.1Mt at 9.9% TGC for 1,991Kt of contained graphite.
The recent drill program was designed to test some of the strongest EM conductors to discover additional high-grade graphite mineralisation and confirm the scale potential for the Chilalo resource.
The drilling identified a new high-grade mineralised zone–Chilalo East–that so far extends over 1.6 km and remains open to the east and west and at depth.
Evolution’s Managing Director, Phil Hoskins, commented: “The shallow depth, width, grade and close proximity to the existing Chilalo mineral resource make this an exciting discovery for Evolution. These results clearly demonstrate the scope to materially grow the Chilalo mineral resource and thereby potentially enable a production expansion, extension to mine life and reduction in mining costs.”
Evolution Energy Minerals signed the Framework Agreement and Shareholders Agreement for the Chilalo Graphite Project with the Government of Tanzania in April 2023.
The Agreements relate to the arrangements for the ownership, development and management of the company’s Project.