Enterprise Metals Murchison Project is centred 30km north of Cue and 35km north-east of the Big Bell Gold Mine. Evolution Mining Limited (ASX: EVN) entered into an earn-in joint venture agreement (Murchison EJV) with Enterprise over the Project on 1 June 2019 and is focused on exploring the untested poorly tested northward continuations of the Big Bell and Cuddingwarra Shear Zones. Evolution can earn an 80% interest in the project by spending A$6 million on exploration over a four-year period. (Figure 1).

Geology

The Murchison Project forms a semi-contiguous landholding of approximately 760km2 over a buried Archaean greenstone belt. The Project area is prospective for Archaean orogenic gold deposits and sits within a well-endowed region, with major gold deposits such as Big Bell (5.3 Moz production, operated by Westgold Resources Ltd) and the nearby historical Day Dawn mine (2.6 Moz production). Historic exploration has also indicated potential for volcanogenic high-grade copper/zinc deposits.

Figure 1. Murchison Project, Geology & Enterprise Metals Ltd Landholdings