EV Resources has secured $600,000 from the sale of its Khartoum Project, redirecting funds to kickstart a maiden drilling campaign at its Los Lirios Antimony Project in Mexico, aiming to define a JORC resource by Q3 2026.
- Received $600,000 from Khartoum Project sale to Koba Resources
- Funds allocated to maiden drill program at Los Lirios Antimony Project
- Drilling set to begin late January 2026 targeting JORC resource by Q3
- Strategic shift focusing on high-grade antimony assets in North America
- Additional sampling and geophysical surveys planned for Nevada projects
Strategic Asset Monetisation
EV Resources (ASX – EVR) has completed the sale of its 100% owned Khartoum Project in Queensland to Koba Resources Ltd, receiving the final payment of A$600,000. This transaction, announced initially in October 2025, marks a deliberate pivot by EVR to monetise non-core assets and sharpen its focus on critical mineral exploration, particularly antimony.
Funding the Los Lirios Drill Campaign
The freshly secured funds are earmarked primarily to support the maiden drilling program at the Los Lirios Antimony Project in Mexico. Mobilisation of drilling equipment and crews is already underway, with operations expected to commence before the end of January 2026. The objective is clear – to accelerate exploration efforts and define a maiden JORC-compliant resource by the third quarter of this year.
Expanding North American Footprint
Los Lirios is EVR’s flagship project, strategically positioned to capitalise on the growing demand for antimony; a critical metal essential for energy storage, defence, and high-tech applications. Alongside Los Lirios, EVR holds interests in the Dollar and Milton Canyon projects in Nevada, where reconnaissance sampling and geophysical surveys are planned to further delineate resource potential.
Operational and Strategic Outlook
EVR’s approach reflects a broader industry trend of focusing capital on assets with near-term production potential. The company’s acquisition of the nearby Tecomatlán Processing Plant in Mexico offers a low-capital pathway to cash flow, complementing exploration efforts. Upcoming milestones include assay results from channel and rock chip sampling, initial drilling outcomes, and geophysical survey data, all expected within the next few months.
Balancing Growth and Prudence
While the sale proceeds bolster EVR’s balance sheet and fund exploration, the company remains mindful of the inherent risks in mineral exploration, including geological uncertainties and market fluctuations. Nonetheless, the strategic reallocation of capital signals confidence in antimony’s critical role in future supply chains and EVR’s positioning within that space.
Bottom Line?
EV Resources’ focused capital shift and imminent drilling at Los Lirios set the stage for a pivotal year in defining its antimony resource potential.
Questions in the middle?
- Will the maiden drilling at Los Lirios confirm economically viable antimony grades?
- How will assay results from Nevada projects influence EVR’s North American strategy?
- What timeline and budget will EVR set for the Tecomatlán Processing Plant refurbishment and production?