Chikundo Copper Project Expanded Soil Program Commencing 24th November 2025
HIGHLIGHTS
Major copper-focused soil program to commence 24th November 2025, advancing the emerging Chikundo VHMS copper system in Tanzania.
Updated soil program design now includes 1,558 samples planned across two priority grids covering the 1.6 km Chikundo copper corridor and the northeast anomaly.
High-grade historical drilling by IMX confirms bedrock copper sulphides, including: (1) 0.40m @ 5.27% Cu, 15.05 g/t Ag (NRD11-047) (2) 6m @ 0.50% Cu, including 0.6m @ 1.35% Cu (NRD11-050)
Recent EV1 sampling returned highly anomalous copper, including 5,340 ppm Cu from gossanous material southwest of the Malachite Pit.
Visible chalcopyrite beneath malachite continues to reinforce the strength and continuity of copper at surface.
New interpretation of regional VTEM data outlines a large volcanic caldera, a setting associated with multi-deposit VHMS districts globally with Chikundo positioned on its southern margin.
Sampling expected to take 8–12 weeks, with results released as a single, integrated dataset.
Program designed to prioritise targets ahead of 2026 RC drilling.
Evolution Energy Minerals Limited (ASX:EV1) (“Evolution” or the “Company”) is pleased to announce that it has committed to an accelerated development schedule for its 84%-owned Chilalo Graphite Project in Tanzania, following constructive engagement with the Government of the United Republic of Tanzania (GoT) and submission of an updated project implementation plan.
The Company also provides an update on the advancement of development and exploration activities across its Chilalo Graphite Project and Chikundo Copper project.
HIGHLIGHTS
EV1 commits to an accelerated development schedule, targeting first ore mining by October 2027.
Resource development drilling program to upgrade and expand Chilalo Graphite Resource, including E1 and E2 prospects
Chikundo Copper Project exploration program commencing with soil sampling, ground geophysics and follow-up drilling
Downstream value adding studies underway to assess in-country downstream processing opportunities
Funding discussions advancing with African, European, and Middle Easternbanks and sovereign funds
For full details please see this ASX announcement: 9f04ccd4-6b6.pdf
The Target Market Determination and Prospectus relating to the Rights Entitlement Issue, previously announced on 14th of August, are linked below for reference.
