Red Dam

Operator: Evolution Mining Limited

Location: Western Australia, Australia

Royalty: 2.5% GSR (gold); 2.5% NSR (silver)

Term of Royalty: Life of Mine

Red Dam is a development project, currently one of 15 deposits that comprise the December 2022 ore reserve at the Mungari operation. The project is owned by Evolution Mining Limited and is located in the Eastern Goldfields district, in Western Australia, approximately 600 kilometers east of Perth and 20 kilometers west of Kalgoorlie.

The mineralization is typical orogenic style hosted in shear zones. The two major structural corridors at Mungari are the Zuleika and Kunanalling Shear Zones. Most rock types present in the Kalgoorlie terrane are encountered at Mungari, with gold hosted throughout the stratigraphic sequence.

The main mineralization styles at Mungari are narrow high-grade laminated veins, vein stock-works, and sheeted vein arrays. Often base metal mineral assemblages are associated with gold mineralization and include galena, sphalerite and arsenopyrite. Weathering of basement rocks has formed regolith profiles that may be up to 70 meters deep and, in some cases, overprint primary mineralization with supergene/oxide mineralization.