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Highlights
- EV Resources is advancing multiple workstreams across its Mexico Antimony Hub.
- The company has commenced geophysical surveys at Los Lirios, including CSAMT and ground magnetics, to define mineralisation and structural controls across key target areas.
- A total of 11 diamond drill holes have been completed at Lirios 1 and submitted for assay, with drilling now progressing at the Hormiguero prospect.
- A new vein structure, San Miguel, has been identified near Lirios 1, revealing near-surface antimony mineralisation in an area without prior exploration.
- Refurbishment of the Tecomatlán Processing Plant has commenced, with key works underway and operational readiness targeted for the second half of 2026.
EV Resources Limited (ASX:EVR) has reported progress at its Mexico Antimony Hub, with multiple workstreams advancing as the company transitions from planning to execution of its near-term antimony production strategy.
The update highlights developments at the Tecomatlán Processing Plant in Puebla and the 70%-owned Los Lirios Antimony Project, where refurbishment, drilling, and geophysical programs are underway.
Geophysical Surveys Expand Targeting Scope
The company has launched a geophysical program at Los Lirios, including Controlled-Source Audio-frequency Magnetotellurics (CSAMT) and ground magnetics surveys. The work spans Lirios 1, Lirios 2, and the Hormiguero area, with the objective of defining mineralisation and structural controls to identify priority zones and generate regional targets for future drilling.
With more than 90% of the project area yet to be explored, and approximately 5km of the Lirios Fault Zone (LFZ) still untested, the campaign is expected to expand the inventory of drill-ready targets across the project.
In combination with initial drilling, CSAMT is expected to serve as a key exploration and targeting tool as EVR progresses toward a maiden JORC Mineral Resource Estimate.
Drilling Campaign Progress at Lirios 1
The company has completed 11 diamond drill holes at the Lirios 1 prospect, which have been submitted for assay. The drill rig has since been moved to the Hormiguero prospect to continue exploration.
Core logging, cutting and sampling are ongoing at dedicated processing facilities, with initial observations providing insights into the hydrothermal system. Sampling previously returned antimony grades of up to 30.2%, supported by metallurgical testwork indicating high recovery rates.
New Near-Surface Discovery at San Miguel
A vein structure, named San Miguel, has been uncovered near Lirios 1. The vein, approximately two metres wide, was identified through fieldwork and excavation, revealing near-surface antimony mineralisation in an area without prior exploration. These findings underscore the near-surface potential of the project area and provide additional drill targets.
Processing Plant Refurbishment Underway
Refurbishment activities at the Tecomatlán Processing Plant (a cornerstone of EVR’s near-term production strategy) have commenced, focusing on the grinding circuit and associated infrastructure.
Notably, key steel fabrication works have been initiated, and are on track to achieve the 5-week delivery schedule. The company is targeting operational readiness of the plant in the 2H2026.
EVR shares were trading 11.11% higher at AUD 0.010 per share at the time of writing on 20 April 2026.
