Evolution Energy confirms Chilalo as standout development-ready graphite project
March 21, 2023 at 04:01 pm
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Evolution Energy Minerals Ltd (ASX:EV1) MD Phil Hoskins talks Proactive through the results of the FEED process and updated DFS for the company’s Chilalo Graphite Project in Tanzania. These reveal that Chilalo has what it takes to bring sustainably-sourced graphite to a rapidly evolving, battery-centric market over a 17-year mine life. The project’s robust economics headline the updated DFS, with a post-tax net present value of US$338 million and a 32% post-tax internal rate of return.
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Evolution Energy Minerals Limited is an Australia-based company, which is involved in exploration and pre-development works. The Company is engaged in the exploration and development of its Chilalo Graphite Project in southern Tanzania. The Company has discovered two high-grade mineralized zones, Chilalo East and Chilalo E2. High-grade mineralization at Chilalo East has been defined over 1.6 kilometers (km) out of a potential 3.5 km strike length indicated by the high-conductance electromagnetic conductor. At Chilalo E2, located to the east of Chilalo Mining License and parallel to the north of Chilalo East, 1.1 km out of a potential five km strike has been tested so far with mineralization open to the east and west.