EV Resources has revealed exceptional high-grade antimony results from channel sampling at its Los Lirios Project in Mexico, with assays reaching 30.2% Sb. A maiden diamond drilling program is underway to explore the extent of this promising mineralisation.
- Channel sampling returns up to 30.2% antimony at surface
- Two distinct mineralisation styles identified: fault-hosted veins and carbonate replacement deposits
- Mineralisation extends along a 6km Lirios Fault Zone with significant exploration upside
- Robust assaying method established to accurately measure high-grade stibnite
- Maiden diamond drilling program progressing to test depth and strike continuity
Exceptional Surface Grades Confirmed
EV Resources (ASX: EVR) has announced outstanding results from channel sampling at its Los Lirios Antimony Project in Oaxaca, Mexico. The company reported assays as high as 30.2% antimony (Sb) from a 0.5-metre channel sample at the Lirios 2 East pit, alongside other significant grades including 22.6% Sb at Lirios 1. These results confirm the presence of widespread, high-grade antimony mineralisation at surface, a promising foundation for further exploration.
Dual Mineralisation Styles Highlight Hydrothermal System
Geological analysis has identified two principal styles of mineralisation: structurally controlled fault and vein-hosted conduits, and strata-bound carbonate replacement deposits within limestone units. Both styles are interpreted as products of a significant hydrothermal system channelled along the northerly trending Lirios Fault Zone (LFZ), which stretches approximately 6 kilometres. This dual style offers multiple targets for ongoing drilling and exploration.
Assaying Challenges Overcome with Robust Methodology
Given the volatile nature of stibnite, the primary antimony mineral, EV Resources collaborated with ALS Laboratories to refine assay techniques. Traditional methods underreported antimony content due to volatilisation issues. The company has now adopted a lithium borate fusion followed by XRF analysis (XRF15c), which provides stable and accurate measurements of high-grade stibnite mineralisation. This methodological rigor enhances confidence in assay results and future resource estimations.
Maiden Drilling Program Underway
Building on the encouraging surface sampling, EV Resources has commenced a maiden diamond drilling campaign focused initially on the Lirios 1 area. The program aims to test the depth and lateral continuity of both mineralisation styles. Early drilling results are anticipated within 4 to 8 weeks, potentially unlocking further insights into the project's scale and economic potential.
Strategic Position and Next Steps
Los Lirios benefits from strong community relations, established infrastructure, and proximity to the recently acquired Tecomatlán Processing Plant, which offers a low-capital pathway to production. EV Resources plans to advance metallurgical testing, finalise engineering studies, and expand exploration along the LFZ. The company also faces a judicial appeal concerning the Lirios 1 mining licence, a regulatory factor to monitor closely.
Bottom Line?
As drilling progresses and assay data emerges, EV Resources is poised to define a significant antimony resource, but regulatory and assay complexities warrant close investor attention.
Questions in the middle?
- How will the judicial appeal on the Lirios 1 licence impact project timelines?
- What scale of resource might the ongoing drilling campaign reveal along the 6km Lirios Fault Zone?
- How will the refined assaying methodology affect historical data comparisons and resource estimates?