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Highlights
- 70% interest in a joint venture targeting the Los Lirios antimony mine in Mexico
- Historical sampling at Los Lirios includes high-grade antimony with potential for direct shipping ore
- Multiple open pits and underground workings provide opportunities for further exploration
EV Resources (ASX:EVR) recently disclosed a 70% stake in an operating joint venture overseeing the Los Lirios antimony mine in Mexico, triggering substantial market interest due to the property’s ability to yield direct shipping ore (DSO) and leverage sustained demand for antimony. The Los Lirios project spans four licenses across approximately 1,652 hectares in North West Oaxaca State, featuring historical mining that entailed four open pits and several underground workings. This prior activity hints at high-grade ore, previously deemed sufficient for DSO, and suggests the presence of immediate extraction targets with minimal additional infrastructure requirements. Existing stockpiles at the site offer quick processing opportunities, as earlier operators engaged in multiple mining phases that targeted easily accessible high-grade ore from shallow shear zones. Two grab samples from one of the pits returned robust antimony grades exceeding 62%, prompting further due diligence and sampling initiatives. While evidence of notable quantities of high-grade ore persists, formal geological assessments have been limited, and the reliance on historical practices without modern certificates of analysis reveals the potential for broader resource confirmation via contemporary exploration methods. This prospective acquisition underscores the growing industrial relevance of antimony, widely employed in flame retardants, alloys, and batteries, particularly as global technological needs continue to evolve. Securing a majority stake in Los Lirios positions EV Resources (ASX:EVR) to harness the burgeoning demand for critical minerals through near-term exploitation of identified stockpiles, complemented by deeper geological assessments that could unveil extended resource prospects. This structure capitalizes on existing data, ongoing sampling results, and historical indicators of high-grade mineralization. Heightened awareness of the antimony market, combined with the immediacy of ore availability, is intensifying focus on EV Resources (ASX:EVR) and the Los Lirios development as a strategic opportunity for advancing supply of a crucial industrial commodity.
