Evolution Mining

CRACOW

Ownership
100%
Location
500 km northwest of Brisbane, Queensland, Australia
Year commenced operations
2004
History
- 850koz gold produced from 1932 to 1992
- Exploration over 5 years delineated the Royal and Crown deposits (2.4 Mt Inferred Mineral Resource at 10.1g/t gold for 790koz gold)
- Cracow Mining JV Agreement executed Sep-2003 and development commenced
- In 2002, joint venture participants approved development of the underground mine and refurbishment and upgrading of the existing treatment plant. Mine development commenced in December 2003 with first gold production in November 2004.
- During 2011, Evolution acquired 100% of Cracow via Catalpa Resources and Conquest Mining merging and the concurrent acquisition of Newcrest Mining's Cracow and Mt Rawdon gold mines.
Style of mineralisation
Steeply dipping, low-sulphidation epithermal fissure quartz veins
Contained metals
Gold, silver

Measured, Indicated and Inferred Resources (at 31 Dec 2012)
4.29Mt @ 6.1g/t gold for 0.84Moz gold
Ore Reserves (as at 31 Dec 2012)
1.61 Mt @ 5.3g/t gold for 0.27Moz gold
Mining Method
Underground-open stoping
Gold Production
FY2010A 102,760 ounces
FY2011A 101,723 ounces
FY2012A 102,565 ounces
FY2013F 90,000 to 100,000 ounces
Processing Method
Conventional crush-grind-CIL to produce gold-silver dore
Nominal treatment rate
550ktpa
Forecast mine life
5 years
Geology
The gold mineralisation occurs in steeply dipping low sulphidation epithermal fissure quartz veins. High-grade gold mineralisation defined in the project resources occurs within five deposits (Royal Shoot, Crown Shoot, Sovereign Shoot, Klondyke North and Kilkenny Shoot), each developed at the intersection of major structures.

The Royal extends over a strike length of approximately 350 metres, the Crown is approximately 300 metres in strike length and the Sovereign has a strike length of 150 metres. The ore bodies average approximately 5 metres in width.
Mining
Underground mining is carried out by a mining contractor, managed by Evolution. A review has highlighted a cost benefit to transition to owner-mining. The changeover is planned to occur on 1 July 2013. The underground orebodies are accessed from a decline using the open stoping mining method with downhole sub-level benching with waste backfilling. A number of initiatives have commenced to improve mine productivity levels including the upgrade of the primary ventilation system to re-establish access to the lower Kilkenny orebody and the addition of resources to the mining fleet.
Processing
Ore is free milling and is treated on site by conventional crush-grind-CIP processing to produce gold-silver- dore. The processing plant treated 527,000 tonnes and a throughput capacity of 550,000 tonnes is expected to be acheived during FY2013.