Developing a pipeline of high-quality exploration targets
Evolution is committed to organic growth by discovery of new resources at our existing operations and across our portfolio of greenfield projects. Our discovery strategy is simple. We focus on safely and responsibly finding new deposits that have the potential to deliver long life, low cost mines that improve the quality of our portfolio.
We are focused on finding epithermal (low, intermediate and high sulphidation) deposits and orogenic lode gold deposits. In the epithermal category we are searching for high sulphidation deposits like Mt Carlton, intermediate sulfidation deposits like Cowal and low sulphidation deposits like Cracow (now divested). In the orogenic lode gold category, we are exploring for deposit styles typically mined in the Yilgarn Craton in Western Australia.
We have continued building land positions around our operating assets at Mungari, Cowal and Cracow.
We are also developing a pipeline of exploration projects in Queensland between Cracow and Mt Carlton. We recognise a key to our success will be our ability to leverage external partnerships. As a result, we are partnering with groups who have superior geological knowledge of and access to areas prospective for the types of mineral deposit we want to find.
We plan to invest between A$70 and A$100.0 million on discovery programs in FY21. Our largest discovery investments will be made at Cowal (A$35.0 – A$45.0 million), Red Lake (A$15.0 – A$20.0 million) and Mungari (A$8.0 – A$13.0 million).
FY21 discovery guidance
FY20 exploration expenditure
tenement holdings in Australia
100% of Crush Creek Project acquired – December 2020
Approach: Upgrade the Pipeline
Enablers: Leveraging the best teams