Evolution Mining Ltd. said Oct. 11 that it received board approval to progress underground development, stage-four pit cutback and relevant plant modifications at its Mount Carlton gold mine in Australia.
Mount Carlton has a mine life to at least 2025, and these projects will allow production from the higher-grade Link zone to be expedited.
The company believes that the initial underground reserve can be expanded, and once the underground development is in place, additional drilling will follow-up on several potential intersections.
The company plans to deliver the first ore from the underground development in 2021, subject to the regulatory approvals.
CapEx was estimated at about A$60 million for the underground development and plant modifications.