EV Resources Defines Maiden Exploration Target Up to 166kt Antimony at Los Lirios

Maiden Exploration Target Quantifies Significant Antimony Scale

EV Resources (ASX:EVR) has laid down a substantial marker at its Los Lirios Antimony Project in Oaxaca, Mexico, defining a maiden Exploration Target ranging from 1.8 to 5.0 million tonnes containing between 70,000 and 166,000 tonnes of antimony metal. This target spans three distinct mineralised zones: the carbonate replacement-style Lirios 1 and Lirios 2 (averaging ~1.8% Sb) and the structurally controlled, high-grade Cofradia zone (~6.7% Sb). While these figures remain conceptual and not yet a formal Mineral Resource, they underscore Los Lirios’ potential scale at a time when antimony supply is under acute global pressure.

Phase 1 Drilling Validates Continuous, Shallow Carbonate Replacement Deposits

The company’s initial diamond drilling campaign has confirmed the continuity of a shallow carbonate replacement deposit (CRD) system at Lirios 1 and 2. Notably, drill hole DDH-L1-08-26 intersected 5.25 metres at 1.36% Sb from just 8.1 metres depth, including a higher-grade 3.05 metres at 2.12% Sb. At Lirios 2, located 6 kilometres along strike, maiden drilling returned 2.35 metres at 2.52% Sb from 11.25 metres, reinforcing the notion of a district-scale mineralised corridor along the Lirios Fault Zone. These shallow intersections bode well for potential open-pit mining scenarios and provide a solid geological foundation for resource growth.

High-Grade Cofradia Zone Emerges as Priority Target

Adding to the project’s appeal, reconnaissance at the Cofradia zone identified intense hydrothermal brecciation at the intersection of two major structural lineaments. Channel sampling using handheld pXRF returned an encouraging 2.2 metres at 5.66% Sb, though laboratory assays are pending to verify these preliminary results. Cofradia’s position 1.7 kilometres south of Lirios 1 and its high-grade nature position it as a key focus for the upcoming Phase 2 drilling program, which aims to test feeder-structure intersections that typically concentrate antimony mineralisation.

Strategic Timing Amid Global Antimony Supply Tightness

Antimony is a critical mineral for defence, energy storage, and high-tech applications, with supply chains strained following China’s 2024 export controls. Los Lirios stands out as one of very few advanced-stage antimony projects in North America with demonstrated high-grade mineralisation near surface and a confirmed processing pathway boasting over 90% recovery. EV Resources is positioning itself as a potential significant supplier to Western markets, leveraging its 70% joint venture interest in the project and proximity to its Tecomatlán Processing Plant.

Clear Pathway to Maiden JORC Mineral Resource Estimate

With Phase 1 drilling complete, EV Resources is designing a Phase 2 program targeting high-grade feeder structures within the CRD unit and the Cofradia zone. This next phase will focus on short, capital-efficient holes aimed at delineating higher-grade mineralisation zones. The company targets delivering a maiden JORC Mineral Resource Estimate in the second half of 2026, a milestone that could significantly de-risk the project and enhance its appeal amid tightening global antimony markets.

While the Lirios 1 concession faces ongoing legal proceedings regarding its mining licence, exploration activities continue under approved permits. The outcome of this process remains a key consideration for the project’s development timeline.