Evolution claims new gold discovery at Pajingo mine

THE DRILL SERGEANT: Recent drilling along the Moonlight structure by Evolution Mining (ASX: EVN) at the company’s 100 per cent-owned Pajingo gold mine in North Queensland has intersected a new high-grade gold shoot.

The newly-identified shoot has been given the moniker Io (pronounced “eye oh”) and is situated approximately 200 metres south of the Moonlight prospect and 1,200 metres south of current underground mining activity.

 

Location plan of the Moonlight and Io prospects, located 1.2km south east of the Vera-Nancy trend

 

“The discovery of a new high-grade gold shoot at Pajingo, within 1,200 metres of current workings, is testament to the prospectivity of the Pajingo field – where, to date, approximately 2.4 million ounces of gold have been produced,” Evolution Mining vice president of discovery and chief geologist Roric Smith said in the company’s announcement to the Australian Securities Exchange.

“The Moonlight and Io mineralisation on the Moonlight Corridor, which runs parallel to the Vera Nancy trend, may represent a new and largely untested structure.

“The new intersections support our geological model for the preservation of blind vein systems at depth and on parallel structures.”

To date, five diamond holes for 2,720m have intersected mineralisation at Io over a 200m strike length and approximately 400m below surface.

Evolution said mineralisation remains open down plunge and along strike and occurs within crustiform banded quartz-adularia vein breccias, typical of the mineralised systems at Pajingo.

Recent assay results include:

–    8.1 metres at 6.2 grams per tonne gold from 417.4 metres, including 2.7 metres at 12.2 grams per tonne gold from 422.8 metres;

–    6m at 16.3g/t gold from 413.0m; and

–    0.9m at 8.5g/t gold from 442.1m.

Evolution said it is now planning additional drilling to define the potential of the area.