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Highlights
- EV Resources intersected a consistent shallow CRD system in 10 of 11 drill holes at Lirios 1.
- The mineralised unit extends over at least 400 metres and remains open along a 6-kilometre structural corridor.
- The system shows predictable geometry with sub-horizontal orientation and uniform thickness of 1 to 2.25 metres.
- Surface sampling has returned high-grade antimony results of up to 30.2%, supporting strong mineralisation potential.
- The company is progressing toward further drilling, geophysical integration, and a maiden JORC Resource Estimate.
EV Resources Limited (ASX:EVR) has released an update reporting progress of drilling and geological modelling at its Los Lirios Antimony Project in Oaxaca, Mexico. The company, which holds a 70% interest in the project, has identified a shallow and laterally extensive carbonate replacement deposit (CRD) system in ten of 11 drill holes at the Lirios 1.
Widespread Intersections Confirm System Continuity
Drilling at Lirios 1 included 11 holes, of which 10 intersected a consistent silicified limestone unit. This unit, interpreted as a carbonate replacement system, is occurring at shallow depths and maintains a relatively uniform thickness ranging from approximately 1 to 2.25 metres.
The company highlighted that the system is sub-horizontal and gently folded, extending laterally across the drilled area. A step-out drill hole located near the historical workings also intersected the unit, indicating likely strike continuity.
Large-Scale Target Emerging Along Structural Corridor
The identified CRD unit has been traced across a minimum strike length of 400 metres and aligns with the broader 6-kilometre Lirios Fault Zone corridor. The system remains open in most directions, with only the northeastern extent showing no intersection in the current drilling phase.
While drilling assay results are still awaited, geological logging and correlation with channel samples give confidence in the potential of the identified system.
Surface Sampling Supports High-Grade Potential
Channel sampling results have provided additional support for the presence of antimony mineralisation across the project. Previous sampling has returned grades of up to 30.2% antimony, while a second batch of 18 additional samples has confirmed mineralisation across historical workings.
These findings, combined with geological and structural observations to date, contribute to an emerging understanding of the scale and distribution of the mineralised system.
Next Phase of Exploration Planned
EV Resources is preparing for further exploration activities, including completion of Phase 1 drilling at additional targets such as Hormiguero and Lirios 2. Upcoming work will also involve the integration of geophysical data with the current geological model to refine drill targets.
Future drilling phases are expected to focus on extending the CRD system and testing feeder structures. In parallel, the company is progressing toward defining an Exploration Target and initiating a maiden JORC Mineral Resource Estimate.
The identification of a shallow and laterally continuous CRD system at Los Lirios marks a significant stage in the project’s development. With drilling confirming widespread mineralisation and surface sampling indicating high-grade antimony presence, the project is advancing toward resource definition.
EVR shares were trading 11.1% higher at AUD 0.010 per share at the time of writing on 20 April 2026.
