Name of the Project
Cowal underground gold project.

Location
New South Wales, Australia.

Project Owner/s
Evolution Mining.

Project Description
Evolution Mining is proposing a new underground mining development, in addition to the existing opencut mine.

The project has a maiden underground ore reserve of 804 000 oz for the underground operation, with the mineral resource increasing it to 2.9-million ounces.

The underground operation is expected to produce between 1.5-million and 2-million tonnes a year, which will supplement the openpit feed and support Cowal production reaching more than 300 000 oz/y.

The underground project will extend the life of the current operations from the current nine years to 12 years.

Potential Job Creation
Existing jobs at the opencut mine will be retained and it is estimated that about 200 full-time equivalent jobs could be created at the peak of construction.

Once in operation, it is estimated that a further 160 jobs will be created, taking the operational workforce to about  660 full-time jobs.

Where possible, Evolution has said that it will upskill its existing workforce.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
First ore from the underground operation will be achieved 12 months after In-house and regulatory approvals.

Latest Developments
Evolution Mining hopes that the New South Wales government will fast-track its development application for the Cowal underground mine, granting it approval in the first half of 2021.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Evolution Mining, tel +61 2 9696 2900.