Reserves & Resources
MINERAL RESOURCE AND ORE RESERVE STATEMENT - DECEMBER 2020 [excludes Battle North Gold (Bateman Project), Kundana and EKJV assets]
| Gold Resources Statement | Measured | Indicated | Inferred | Total Resources | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Type | Cut-Off | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | CP |
| Cowal1 | Open-Pit | 0.35 | 20.63 | 0.46 | 306 | 209.19 | 0.85 | 5,724 | 22.90 | 0.84 | 615 | 252.71 | 0.82 | 6,645 | 1 |
| Cowal | Underground | 1.5 | – | – | – | 22.78 | 2.55 | 1,868 | 14.75 | 2.43 | 1,151 | 37.53 | 2.50 | 3,019 | 1 |
| Cowal1 | Total | 20.63 | 0.46 | 306 | 231.97 | 1.02 | 7,593 | 37.65 | 1.46 | 1,765 | 290.24 | 1.04 | 9,664 | 1 | |
| Red Lake3 | Total | 3.3 | – | – | – | 28.09 | 7.45 | 6,731 | 19.72 | 6.82 | 4,322 | 47.81 | 7.19 | 11,053 | 2 |
| Mungari1 | Open-Pit | 0.5 | – | – | – | 37.55 | 1.19 | 1,443 | 6.80 | 1.35 | 296 | 44.36 | 1.22 | 1,739 | 3 |
| Mungari | Underground | 1.8 | 0.34 | 5.09 | 56 | 1.78 | 3.25 | 187 | 2.58 | 2.46 | 204 | 4.71 | 2.95 | 448 | 3 |
| Mungari1 | Total | 0.34 | 5.09 | 56 | 39.34 | 1.29 | 1,629 | 9.39 | 1.66 | 500 | 49.07 | 1.39 | 2,186 | 3 | |
| Mt Rawdon1 | Total | 0.21 | 7.29 | 0.34 | 81 | 32.91 | 0.60 | 630 | 10.47 | 0.52 | 175 | 50.66 | 0.54 | 885 | 4 |
| Ernest Henry2 | Total | 0.9 | 4.29 | 0.51 | 70 | 45.43 | 0.61 | 896 | 8.98 | 0.61 | 177 | 58.70 | 0.61 | 1,143 | 5 |
| Marsden | Total | 0.2 | – | – | – | 119.83 | 0.27 | 1,031 | 3.14 | 0.22 | 22 | 122.97 | 0.27 | 1,053 | 1 |
| Total | 32.55 | 0.49 | 513 | 497.56 | 1.16 | 18,509 | 89.35 | 2.42 | 6,961 | 619.46 | 1.30 | 25,984 | |||
| Gold Reserves Statement | Proved | Probable | Total Reserve | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Type | Cut-Off | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | CP |
| Cowal1 | Open Pit | 0.45 | 20.60 | 0.46 | 306 | 104.72 | 0.96 | 3,241 | 125.32 | 0.88 | 3,547 | 1 |
| Cowal | Underground | 1.8 | – | – | – | 12.55 | 2.59 | 1,045 | 12.55 | 2.59 | 1,045 | 2 |
| Cowal | Total | 20.60 | 0.46 | 306 | 117.27 | 1.14 | 4,287 | 137.87 | 1.04 | 4,593 | ||
| Red Lake3 | Total | 4.3 | – | – | – | 13.16 | 6.90 | 2,929 | 13.16 | 6.90 | 2,929 | 3 |
| Mungari | Underground | 2.9 | – | – | – | 0.30 | 3.57 | 35 | 0.30 | 3.57 | 35 | 4 |
| Mungari1 | Open Pit | 0.75 | – | – | – | 9.68 | 1.35 | 419 | 9.68 | 1.35 | 419 | 5 |
| Mungari1 | Total | – | – | – | 9.98 | 1.41 | 454 | 9.98 | 1.41 | 454 | ||
| Mt Rawdon1 | Open pit | 0.3 | 4.26 | 0.41 | 56 | 15.82 | 0.67 | 342 | 20.08 | 0.62 | 398 | 6 |
| Ernest Henry2 | Underground | 0.9 | 2.67 | 0.81 | 70 | 29.94 | 0.47 | 455 | 32.62 | 0.50 | 525 | 7 |
| Marsden | Open Pit | 0.3 | – | – | – | 65.17 | 0.39 | 817 | 65.17 | 0.39 | 817 | 8 |
| Total | 27.54 | 0.49 | 432 | 251.34 | 1.15 | 9,284 | 278.88 | 1.08 | 9,716 | |||
| Copper Resources Statement | Measured | Indicated | Inferred | Total Resources | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Type | Cut-Off | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | CP |
| Marsden | Total | 0.2 | – | – | – | 119.83 | 0.46 | 553 | 3.14 | 0.24 | 7 | 122.97 | 0.46 | 560 | 1 |
| Ernest Henry2 | Total | 0.9 | 1.54 | 0.93 | 14 | 20.20 | 1.16 | 234 | 7.11 | 1.16 | 83 | 28.85 | 1.15 | 331 | 2 |
| Total | 1.54 | 0.93 | 14 | 140.03 | 0.56 | 787 | 10.25 | 0.87 | 90 | 151.82 | 0.59 | 891 | . | ||
| Copper Reserves Statement | Proved | Probable | Total Reserve | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Type | Cut-Off | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | CP |
| Marsden | 0.3 | – | – | – | 65.17 | 0.57 | 371 | 65.17 | 0.57 | 371 | 1 | |
| Ernest Henry2 | Total | 0.9 | 0.80 | 1.49 | 12 | 12.94 | 0.91 | 117 | 13.74 | 0.94 | 129 | 2 |
| Total | 0.80 | 1.49 | 12 | 78.11 | 0.63 | 488 | 78.91 | 0.63 | 500 | |||
General Notes:
Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding.
Mineral Resources are reported inclusive of Ore Reserves. Estimates undertaken by Evolution include all exploration
and resource definition drilling information up to 31 December 2020 and have been depleted for mining to 31
December 2020.
1 Includes stockpiles
2 Ernest Henry Operation cut-off 0.9% CuEq
3 Red Lake cut-off is 3.3g/t Au except for Cochenour (3.0g/t Au) and HG Young (3.2g/t Au) deposits
This information is extracted from the ASX release entitled “Annual Mineral Resources and Ore Reserves Statement” released to the ASX on 17 February 2021.
Full details of the Ernest Henry Mineral Resources and Ore Reserves are provided in the report entitled “Glencore Resources and Reserves as at 31 December 2020” released 3 February 2021 and available to view at www.glencore.com. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the Reports and that all material assumptions and parameters underpinning the estimates in the Reports continue to apply and have not materially changed except for Cowal Underground. This revised information is provided in ASX release entitled ‘Cowal Underground Board Approval, Red Lake Growth Update and Group Three-year Outlook” released on 16 July 2021 and available to view at www.evolutionmining.com. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Reports. Evolution Mining has an economic interest earning rights to 100% of the revenue from future gold production and 30% of future copper and silver produced from an agreed area, and 49% of future gold, copper and silver produced from the Ernest Henry Resource outside the agreed area. The Ernest Henry Resource is reported here on the basis of economic interest and not the entire mine resource. The above reported figures constitute 77% of the total Ernest Henry gold resource. The above reported figures constitute 86% of the total Ernest Henry gold reserve. The above reported figures constitute 38% of the total Ernest Henry copper resource and 35% of the total Ernest Henry copper reserve.
Group Gold Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam; 2. Dean Fredericksen; 3. Brad Daddow; 4. Tim Murphy; 5. Jessica Shiels (Mt Isa Mines)
Group Gold Ore Reserve Competent Person (CP) Notes refer to 1. Ryan Kare; 2. Joshua Northfield; 3. Brad Armstrong; 4. Mark Boon; 5. Chris Honey; 6. Thomas Lethbridge; 7. Michael Corbett (Glencore); 8. Anton Kruger
Group Copper Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam; 2. Jessica Shiels (Mt Isa Mines)
Group Copper Ore Reserve Competent Person (CP) Notes refer to 1. Anton Kruger; 2. Michael Corbett (Glencore)
