What's Happening?
EV Resources, listed on the Australian Securities Exchange as EVR, has commenced its first diamond drilling program at the Los Liros Antimony Project located in Mexico. This initiative aims to explore historical intercepts and test targets known for antimony mineralization and past artisanal workings. The company plans to drill between 1,500 to 2,000 meters, with assay results anticipated in six to eight weeks. CEO Mike Brown has described this project as a significant milestone, highlighting the high-grade results from surface sampling. The company is also implementing new techniques to address challenges posed by high antimony and sulfur content, which have previously led to compromised samples. These techniques include a third overlimit procedure
involving oxidizing fusion with lithium borate flux and X-ray fluorescence analysis.
Why It's Important?
The initiation of this drilling program is crucial for EV Resources as it represents a strategic step towards establishing a JORC-compliant resource, which is essential for validating the project's economic potential. The successful identification and quantification of antimony resources could significantly enhance the company's portfolio in the critical minerals sector, which is increasingly important for various industrial applications, including electronics and flame retardants. The project also underscores the growing interest in critical minerals, driven by global demand for sustainable and technologically advanced materials. For stakeholders, this development could mean increased investment opportunities and potential returns, contingent on the project's success in confirming substantial mineral deposits.
What's Next?
As EV Resources progresses with its drilling program, the next steps will involve analyzing the assay results to determine the extent and quality of the antimony mineralization. The company will continue to refine its assay protocols in collaboration with ALS Laboratories to ensure accurate and repeatable results. If the drilling yields positive outcomes, EV Resources may proceed with further exploration and development activities, potentially leading to the establishment of a full-scale mining operation. This could attract further investment and partnerships, enhancing the company's position in the critical minerals market.
