Evolution Energy Minerals Set to Drill 17 Holes at Chikundo Copper Project

Maiden Drilling Programme Ready at Chikundo Copper Project

Evolution Energy Minerals (ASX:EV1) is on the cusp of launching its maiden reverse circulation (RC) drilling programme at the Chikundo Copper Project in southern Tanzania. The campaign comprises 17 holes totalling approximately 3,350 metres, designed to test a hydrothermal copper system beneath four identified copper anomalies. Nine priority holes will focus on the Malachite Pit area, where historical drilling recorded a high-grade intercept of 0.4 metres at 5.27% copper, while eight optional holes extend coverage to nearby prospects including Chikundo North, Chikundo West, and Nangurugai.

Site preparations including drill pads, sumps, water supply, and access are complete, but final mobilisation awaits the appointment of a drilling contractor. Senior Geologist Casmir Kiwale is currently inspecting rigs to confirm health, safety, environmental standards and technical capability, with contract finalisation targeted shortly after mid-July 2026. This measured approach reflects the company’s emphasis on execution readiness rather than rushing into drilling.

Comprehensive Soil Geochemistry Supports Drill Targets

The drill programme follows a comprehensive soil geochemistry survey that combined 1,558 new samples with 626 historical ones, creating the most extensive dataset ever assembled for Chikundo. Independent analysis confirmed that the strongest anomalies represent genuine hydrothermal copper mineralisation, distinguishing them from background geological noise. This validation underpins the selection of four priority targets, with the Chikundo Prospect centred on artisanal workings at the Malachite Pit emerging as the highest priority.

Chilalo Graphite Project Advances Modular Development Pathway

Meanwhile, EV1 is progressing its flagship Chilalo Graphite Project with a staged, modular start-up strategy aimed at de-risking execution and accelerating first production. A scoping study to confirm the economics and design of the modular plant is ready for tender, with multiple engineering, procurement and construction management (EPCM) contractors engaged. The company targets first graphite concentrate production by October 2027, aligning with timelines agreed with the Tanzanian Government.

Chilalo’s development is supported by a 2023 definitive feasibility study, front-end engineering design work, and extensive metallurgical and customer qualification programmes. EV1’s confidence in the graphite market is bolstered by forecasts of a structural supply deficit of around 550,000 tonnes by 2035, with Tanzania playing a critical role as a supplier to China’s tightening markets.

Strong Financial Position and Leadership Enhancements

EV1 closed the June quarter with A$2.86 million in cash, fully funding its planned exploration and early works for 2026. Exploration and evaluation expenditure for the quarter amounted to A$310,000. The company also bolstered its leadership team with strategic appointments and promotions, including John Kay as Company Secretary, Marshall Lee as CFO, and Dr Mary Mwanjelwa as Executive Director and Chair of Kudu Graphite. These moves aim to support the company’s growth trajectory and operational execution.

Ongoing Government Engagement and Community Initiatives

Engagement with the Tanzanian Government continues amid discussions over a Default Notice related to licence matters, with EV1 providing detailed evidence of its historical investment. Notably, the company’s licences were not included in recent government revocations. On the community front, Kudu Graphite is nearing completion of a maternity ward and medical clinic at Nangurugai, with water supply infrastructure planned to coincide with the Chikundo drilling programme’s field operations.