Rock chip antimony overlimit verification update

HIGHLIGHTS

• Maiden diamond drilling program underway at the high-grade Los Lirios Antimony Project in Mexico
• Initial 1,500–2,000 metre diamond drilling program designed to test high-priority targets and advance the project towards a maiden resource
• First ever drill testing of the historically mined antimony system where surface sampling has returned grades of up to 29% Sb, highlighting strong high-grade potential
• Program will test an initial ~900 metres of strike within a mineralised system extending at least 6 kilometres
• Company is fully funded to execute the current drilling program and maintain ongoing exploration momentum across the portfolio
• Work continuing with ALS Laboratories to establish a robust assay protocol suitable for overlimit antimony from stibnite mineralisation
• Strong exploration momentum expected to deliver consistent news flow over the coming months

EV Resources (ASX: EVR) (“EVR” or “the Company”) is pleased to announce the commencement of the maiden drilling program at its Los Lirios Antimony Project in Oaxaca State, Mexico. This represents the first time this high-grade, historically mined system has been subjected to modern drill testing.

Managing Director and CEO, Mike Brown, commented: “The commencement of drilling at Los Lirios is a major milestone for the Company. Despite returning exceptionally high-grade results of up to 29% Sb¹ from surface sampling, this system has never been drill-tested. We are initially focusing on just 900m of strike along a system that extends for at least 6km, providing significant potential upside. Regarding our assaying, we are hopeful that we are close to finalising with the laboratory an optimised assay procedure to ensure that the high content of stibnite mineralisation we are encountering is reported with the highest degree of confidence and accuracy. With the Company fully funded, we look forward to delivering solid news flow to shareholders over the coming months.

Maiden Diamond Drilling Program

The Company has commenced its maiden diamond drilling program at Los Lirios, comprising approximately 1,500–2,000 metres. This program represents a significant milestone and is designed to test high-priority targets associated with known antimony mineralisation and historical artisanal workings.

The initial phase focuses on approximately 900m of strike on the main Lirios Falt zone (LFZ). This system has been mapped for over 6km strike length, which the Company sees significant potential for hosting additional targets for follow-up.

Technical Update: Assay Protocol Development

The Company is working closely with ALS Laboratories to refine and establish a robust and repeatable assay protocol for samples that initially report antimony overlimit. The issue arose from channel rock-chip samples the Company submitted from surface sampling last year. The Company advises that the high antimony (Sb₂S₃) and sulphur content of abundant stibnite in some samples has led to unrepeatable results using standard overlimit analytical techniques.

To ensure reporting accuracy and repeatability the Company is currently trialling a third overlimit method involving:

• Initial oxidising fusion using a lithium borate flux, followed by
• X-ray fluorescence (XRF) analysis.

This approach is expected to reduce potential volatility or precipitation-related variances that can occur with stibnite antimony mineralisation and provide an accurate measure of the whole-rock antimony content.

The assay method trial is expected to take approximately two-three weeks to complete. Once the Company has verified the results and is confident that the assay methodology is appropriate for reporting, results from the 130 samples submitted to ALS will be released to the market.

Assay results from initial drilling, utilising the verified assaying flow process, are expected within 6-8 weeks, providing a steady flow of updates as results are received form the 1500-2000m program.

Other Work Programs

• Short Term: Reporting of channel sampling assay results from Los Lirios
• Q1 CY2026: Finalisation of preliminary engineering and budget for Tecomatlán Plant and commencement of Phase 1 refurbishment.
• Next 6-10 weeks: Receipt of initial drilling results.
• March/April: Commencement of fieldwork activities at Dollar and Milton projects, Nevada.
• April: Commencement of orientational geophysical surveys over historical pits at Los Lirios to determine most responsive geophysical survey system.

–     ENDS –

For further information, please contact:

Mike Brown
Managing Director & CEO
Tel: +61 466 856 061
E: [email protected]

This ASX announcement was authorised for release by the Board of EV Resources Limited.

Original Article: https://api.investi.com.au/api/announcements/evr/0cb18f6e-975.pdf