Priority Drill Target Areas Identified at Chikundo Project

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Stock Evolution Energy Minerals Ltd (EV1.ASX)
Release Time 30 Mar 2026, 8:16 a.m.
Price Sensitive Yes
 Priority Drill Target Areas Identified at Chikundo Project
Key Points
  • Four high-priority target zones identified, incorporating structural complexity and favourable host positions
  • Copper mineralisation interpreted to be structurally and stratigraphically controlled
  • Results to be integrated with ~1,500 pending soil samples to rank and finalise drill targets
Full Summary

Evolution Energy Minerals Limited (ASX: EV1, FSE: P77) ('Evolution' or 'the Company') has reported the results of a detailed reinterpretation of airborne electromagnetic (VTEM) data at its Chikundo Copper Project in southern Tanzania. The work, completed by geophysical consultants Terra Resources, has identified four high-priority target zones for follow-up exploration, significantly enhancing the Company's understanding of the geological controls on copper mineralisation. The reinterpretation indicates that copper mineralisation at Chikundo is likely controlled by a combination of stratigraphy and structure, particularly along the contact between meta-basalts and adjacent meta-sedimentary units. The analysis demonstrates that the most prospective positions for copper mineralisation are associated with structural complexity, geological contacts, and magnetic and conductive gradients. The reinterpretation has resulted in the delineation of several priority target zones, including three high-priority, along a defined prospective corridor within the Chikundo Project area. These targets have been identified based on the coincidence of multiple datasets, including geophysical signatures, interpreted geological contacts and structural features, existing copper soil anomalies, and proximity to known copper occurrences and artisanal workings. The Company is currently awaiting results from approximately 1,500 soil samples collected across the Chikundo Project area, which will be integrated with the updated geophysical and geological interpretation to further refine and prioritise target zones and support the design of a targeted drill programme planned for early May.