Evolution Mining closed out 2023 with millions of ounces of gold added to its reserves thanks to its acquisition of the Northparkes copper-gold mine in New South Wales.
The company’s mineral resource now stands at 32.7 million ounces of gold and 4.1 million tonnes of copper. The increase represents a jump of 2.3 million ounces of gold and 2.4 million tonnes of copper.
The numbers are expected to climb even further, as the Northparkes ore reserve is yet to be included.
“We are extremely pleased with the outcomes of the mineral resources and ore reserves update,” Evolution managing director and chief executive officer Lawrie Conway said.
“The acquisition of Northparkes brings a reliable, well-established, long-life copper and gold operation into the portfolio.
“Featuring concentrated mining options with five deposits situated within a two-kilometre radius, Northparkes provides Evolution with additional exposure to copper over the long term.”
The company’s drilling programs across its operations were also responsible for the boost in its 2023 results.
Conway said drilling success at Ernest Henry in Queensland, Cowal in New South Wales and Mungari in Western Australia enabled Evolution to replace almost all of its 2023 mined ounces.
“Drilling at Cowal continues to deliver encouraging results, driving the addition of gold metal in underground mineral resources,” he said. “The increase in ore reserves at Mungari underlines our confidence in the mill expansion.
“Ernest Henry’s successful drilling program targeted the Ernie Junior and Bert deposits and returned positive results, reinforcing a long life at the asset.”
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.