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Evolution gives Mt Carlton underground development green light

Gold miner Evolution Mining will advance three projects at the Mt Carlton operation in Queensland after approving a $60 million investment.

The projects include the underground development, stage four pit cut-back and plant modifications.

Evolution will bring forward production from Mt Carlton’s higher-grade Link zone with these projects.

It expects to deliver first ore from the underground operation during the 2021 financial year.

Evolution is also confident the underground reserve at Mt Carlton can be expanded.

The miner plans to undertake additional drilling once the development is in place to follow up on several “promising” drill intersections that are not currently included in the underground reserves or resources.

Chairman Jake Klein described Mt Carlton as a high-margin asset which has been a standout in the company’s portfolio.

“The mine has generated over $100 million in net mine cash flow in each of the last three years,” Klein said. Read more…

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