Evolution Mining's (ASX:EVN) group mineral resources reached an estimated 31 million ounces of gold and 4.2 million tonnes of copper net of depletion, with contained gold increasing by 900,000 ounces or 3% year-on-year, driven by continued growth at Cowal of 1.2 million ounces and Northparkes open pits of 170,000 ounces, according to a Friday Australian bourse filing.
The company said group ore reserves stand at 12 million ounces of gold and 1.3 million tonnes of copper net of depletion, with contained gold increasing by 500,000 ounces or 5%, underpinned by reserve additions at Cowal of 670,000 ounces and Red Lake Tailings of 200,000 ounces.
Mining depletion at Ernest Henry and updates at Marsden contributed to a decline in copper mineral resources of 200,000 tonnes or 4%, while mining depletion at Ernest Henry and Northparkes contributed to a decrease in copper ore reserves of 100,000 tonnes or 4%, the filing added.
The Northparkes expansion study, expected to be completed by the end of fiscal year 2027, is expected to deliver further growth to group mineral resources and ore reserves as studies are completed and execution work progresses, the company added.
The company's shares rose 1% in recent Friday trade.