Evolution Energy Finds Copper Sulphide Below Surface Outcrop in Two of Three Holes
Key Takeaways
- Chalcopyrite, a copper sulphide, has been logged in two of the first three Chikundo RC holes, giving the first drilling evidence of copper sulphides beneath the Malachite Pit surface oxides.
- The key intervals are 7m from 41m in CHRC26-003 and 2m from 78m in CHRC26-002, but these are geological observations only, with no copper grades or true widths reported.
- Assay results could take up to three months because samples must travel over 1,000km to Mwanza and then on to ALS in Johannesburg, and no date has been given.
- Only 3 of 9 priority RC holes are complete (373m of about 1,800m planned), with groundwater and rig breakdowns limiting hole depths to 120-128m.
- Holes were cased to fresh rock so they can be re-entered, and EV1 is evaluating diamond extensions to reach the 200m target depth, though that is not a commitment.
Chalcopyrite confirmed in two of first three Chikundo RC holes
Evolution Energy Minerals (ASX:EV1) has confirmed chalcopyrite, a copper sulphide mineral, in two of the first three reverse circulation (RC) holes at its Chikundo Copper Project in southern Tanzania. The holes, CHRC26-002 and CHRC26-003, are testing the Chikundo geochemical anomaly, of which Malachite Pit is interpreted to be a surface expression.
Surface copper oxides at Malachite Pit now have copper sulphides identified beneath them. The identification came from geological examination of drill chips, supported by qualitative portable X-ray fluorescence (pXRF) checks. Copper grade is not yet known.
Craig Moulton, Managing Director
“Seeing chalcopyrite in two of our first three holes at Chikundo is a very encouraging start…”
Key figures from the update:
- 7m from 41m downhole in CHRC26-003
- 2m from 78m downhole in CHRC26-002
- 373m drilled across three holes
- 3 of 9 priority RC holes complete
The table below sets out the two principal logged intervals containing visible chalcopyrite.
| Hole ID | From (m) | To (m) | Downhole length (m) | Geological observation |
|---|---|---|---|---|
| CHRC26-003 | **41** | **48** | **7*** | Sulphide interval containing visible chalcopyrite |
| CHRC26-002 | **78** | **80** | **2*** | Sulphide interval containing visible chalcopyrite |
*These are geological intervals, not assayed copper intersections. True widths are unknown.
When big ASX news breaks, our subscribers know first
Why chalcopyrite matters for the Chikundo copper thesis
Copper sulphides explained
Chalcopyrite is the most common copper-bearing sulphide mineral. Green malachite and azurite, the copper minerals seen at Malachite Pit, typically form when copper sulphides weather near surface.
Pyrite is different. It is an iron sulphide and does not itself contain copper as an essential component.
For you as an investor, the finding matters because it supports testing whether copper sulphide mineralisation extends at depth within the broader anomaly. That anomaly was identified through soil sampling (announced 11 June 2026).
What is not yet known
The caution here is significant. Visual and pXRF observations do not establish copper grade, and continuity between the occurrences in separate holes remains to be established. No numerical pXRF results or laboratory assay grades are reported.
The main chalcopyrite-bearing intervals occur in amphibolitic gneiss. The initial holes also contain sulphide veining and disseminated pyrite within gneiss and other metamorphic rocks.
Drilling progress and deeper testing
Drilling commenced on 12 September 2026 under a programme of nine priority RC holes (approximately 1,800m) plus eight optional holes (approximately 1,550m), as announced on 15 September 2026.
Groundwater, depth and equipment breakdowns limited the depths the RC rig could reach. The completed holes are shown below.
| Hole ID | Depth (m) | Note |
|---|---|---|
| CHRC26-001 | **86** | Excluded from total; redrilled as CHRC26-001A after a missing sample interval |
| CHRC26-001A | **120** | Included in total |
| CHRC26-002 | **125** | Included in total |
| CHRC26-003 | **128** | Included in total |
The 373m total excludes the original 86m CHRC26-001 hole. All holes were cased (lined with PVC pipe to keep them open) to fresh, unweathered rock, so selected holes can be re-entered.
Craig Moulton, Managing Director
“We planned for this by casing each hole to fresh rock, so selected holes can be re-entered and deepened…”
EV1 is evaluating possible diamond-drilling extensions to reach the 200m target depth. That option remains under evaluation, so it is not a commitment.
The next major ASX story will hit our subscribers first
Next steps: assays and remaining holes
The path to grade data runs through a long logistics chain. The announced sequence is:
- Complete the fourth hole, CHRC26-004.
- Dispatch the first samples to Orelysis in Mwanza, the closest available sample preparation laboratory (over 1,000km from Chikundo).
- Forward prepared samples to ALS in Johannesburg for 51-element analysis using four-acid digestion and inductively coupled plasma mass spectrometry (ICP-MS). Due to the use of hydrofluoric acid, this method is not available in Tanzania.
- Receive assay results, which may take up to three months. The company says this timing is indicative and subject to transport and laboratory schedules.
- Continue drilling the remaining priority holes, CHRC26-004 to CHRC26-009.
The announcement does not give an assay date. Once received, the results will establish copper, base metal and pathfinder grades, and help refine further drilling targets.
EV1’s flagship asset is the Chilalo Graphite Project, with first graphite concentrate production targeted for October 2027, subject to funding, approvals and execution risks. Chikundo is a second Tanzanian project the company is advancing. Moulton said, “We will continue to update the market as the current programme progresses.”
Don’t Miss the Next ASX Copper Breakout
Join 30,000+ investors getting FREE breaking ASX mining news in their inbox within minutes of release, complete with in-depth analysis and the full announcement. Click the “Free Alerts” button at Big News Blast to stay ahead of the market when the next copper discovery news breaks.