EV Resources’ maiden drilling at Los Lirios reveals a broad, shallow antimony carbonate replacement system with promising high-grade intercepts, setting the stage for a potential bulk-tonnage open-pit development and a maiden JORC resource by Q3 2026.
- Broad, laterally extensive shallow antimony CRD system confirmed
- High-grade intercepts up to 4.15% Sb from less than 10m depth
- Shallow, tabular geometry supports low-cost open-pit mining scenarios
- Phase 2 drilling planned to define resource footprint and scale
- Favourable antimony market conditions boost project economics
Maiden Drilling Validates Large-Scale Antimony Mineralisation
EV Resources (ASX:EVR) has delivered a strong initial validation of its Los Lirios Antimony Project in Oaxaca, Mexico, with assays from its maiden diamond drilling program confirming a broad, shallow carbonate replacement deposit (CRD) system. The first five holes returned antimony mineralisation in four, including high-grade hits such as 3.05 metres at 2.10% Sb from just 8.1 metres depth, underscoring the lateral continuity of the mineralised horizon and hinting at substantial scale potential.
The results reveal a system that is not only extensive but also shallow and tabular, characteristics that could underpin low-cost open-pit mining. The mineralised CRD horizon, intersected across multiple locations, suggests a continuous envelope amenable to bulk-tonnage development, subject to further drilling and resource definition. This contrasts with the higher-grade, but more structurally constrained, feeder zones, offering a compelling dual-target exploration model.
Shallow Geometry and Grade Distribution Support Development Potential
The drilling has confirmed that mineralisation typically occurs at very shallow depths, mostly less than 10 metres below surface, with thicknesses and grades that are encouraging for future resource delineation. High-grade zones appear structurally controlled near feeder systems, while adjacent areas show consistent, moderate grades that could support bulk mining. The shallow, gently folded geometry facilitates rapid, cost-effective drilling and potentially lower stripping ratios, which are critical economic factors in open-pit operations.
EV Resources Managing Director Mike Brown highlighted the significance of intersecting around 1% Sb grades at such shallow depths, noting that this is particularly valuable given the current elevated antimony prices. The company’s geological model, strengthened by these results, points to a large-scale system with both high-grade feeders and extensive lateral mineralisation, providing clear vectors for upcoming exploration phases.
Strategic Timing Amid Tightening Antimony Market
The timing of these results aligns with a tightening global antimony supply chain. Since China’s export restrictions in 2024, Western governments and defence sectors have faced supply shortages, intensifying demand for alternative sources. EV Resources’ Los Lirios project, with its shallow mineralisation and proximity to the company’s Tecomatlán Processing Plant, positions it well to capitalize on this market dynamic. The plant refurbishment is progressing on schedule, aiming to enable near-term production by the end of 2026, as detailed in the company’s recent update on Tecomatlán plant commissioning.
Moreover, the company’s Phase 1 drilling results build on earlier findings that traced the CRD limestone unit over a 400-metre strike length, with mineralisation remaining open in multiple directions. This continuity and scale potential were previously outlined in the extensive shallow CRD system report, reinforcing EVR’s confidence in advancing toward a maiden JORC Mineral Resource Estimate targeted for Q3 2026.
Next Steps Focus on Resource Definition and Broader Exploration
With the initial technical validation phase exceeding expectations, EV Resources is now designing a Phase 2 drilling program aimed at rapidly delineating the system’s footprint, scale, and grade continuity. This will incorporate integration of geophysical data, structural interpretation, and targeting of feeder zones known to host higher-grade mineralisation. The broader Los Lirios Fault Zone corridor, including the Carmen and Anexa areas, remains largely untested and presents additional exploration upside.
While the Lirios 1 mining licence is currently subject to a judicial appeal against a cancellation process, the company is actively pursuing resolution. Economic studies remain preliminary, pending sufficient drilling and metallurgical assessment. However, the combination of shallow mineralisation, strong grades, and favourable mining conditions, alongside supportive market fundamentals, sets a promising stage for EVR’s transition from explorer to producer.
Bottom Line?
EV Resources’ maiden drilling confirms a significant shallow antimony system at Los Lirios, but upcoming Phase 2 results and licence clarity will be pivotal for advancing towards production.
Questions in the middle?
- How will the judicial appeal on the Lirios 1 licence impact project timelines and financing?
- Can Phase 2 drilling confirm sufficient scale and continuity to underpin a robust JORC Mineral Resource Estimate?
- What metallurgical characteristics and processing costs will the refurbished Tecomatlán plant face with Los Lirios ore?