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Highlights
- Promising Assay Results: EV Resources reports antimony grades as high as 29.17% from its Los Lirios project in Mexico.
- Pilot Plant Discussions: The company is in talks to establish a pilot plant for trial processing of Los Lirios material.
- Strategic Molybdenum Focus: EV Resources advances its Parag Copper-Molybdenum Project in Peru amid growing demand and Chinese export restrictions.
EV Resources (ASX:EVR) has announced ongoing discussions for a potential antimony pilot plant after receiving promising high-grade assay results from its Los Lirios project in Mexico.
The company recently obtained the first assay results from stockpiled material at the project’s "three pit" site, with grades ranging between 18.08% and 29.17% antimony. Additional test work is being conducted at the Universidad Autonoma de Coahuila Metallurgical Faculty in northern Mexico.
A separate sample from the high wall of the open pit on the Los Lirios 3 license returned an assay of 15.27% antimony, with further results expected in the near future. The samples were collected by EV Resources during a recent field trip as part of its broader exploration strategy.
Plans for Pilot Plant and Trial Processing
EV Resources has entered discussions with plant owners to establish a pilot plant that could process material from Los Lirios. The company aims to conduct trial mining and processing operations to better understand the project's geology and metallurgy.
As part of its development strategy, EVR has agreed to acquire 70% of a joint venture by funding operations until a 300-tonne-per-day mine and processing plant is operational. To further advance the project, EVR is planning an exploration campaign, including sampling and trenching, to define drill targets by the end of next month.
EVR Managing Director Hugh Callaghan expressed optimism about the company’s progress, emphasizing the project's potential and the significance of high-grade findings.
Expanding into Molybdenum Amid Supply Challenges
Beyond antimony, EV Resources is making strategic moves in the molybdenum sector, particularly with its Parag Copper-Molybdenum Porphyry Project in Peru. With China imposing export restrictions on molybdenum—an essential metal used in steel and industrial applications—EVR aims to position itself as a key supplier to the U.S. market.
Parag has already seen extensive exploration, with over 80 drill holes confirming high-grade molybdenum deposits. Peru and Chile, which each account for 15% of global molybdenum supply, are among the world's top producers, following China.
Molybdenum’s Rising Value
Molybdenum has emerged as a highly valuable commodity, trading at nearly US$21 per pound on the London Metals Exchange—five times the value of copper. This market dynamic strengthens EVR’s strategic push into molybdenum production.
