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EV Resources (ASX:EVR) is in discussions that relate to an antimony pilot plant on the back of reporting high-grade antimony results from its Los Lirios project in Mexico.
EVR has just recently received the first assays from sampling stockpiled material mined at the project’s “three pit.”
Three results ranged between 18.08% and 29.17% antimony and have been submitted to a laboratory for initial metallurgical test work at the Universidad Autonoma de Coahuila Metallurgical Faculty in northern Mexico.
Another sample taken from the high wall of the open pit on Los Lirios 3 licence assayed
15.27% antimony. More assay results are to come.
The samples were collected by EV Resources during a field trip last month.
Pilot plant plans
EV Resources has begun discussions with the owners of a plant that may be suitable as a
pilot plant for trial processing of material from Los Lirios.
It intends to investigate options for trial mining and processing with a view to better
understanding the geology and metallurgy of the project.
EV Resources has also agreed to acquire 70% of a joint venture in return for providing funding until a 300-tonne-per-day mine and processing plant is established.
It’s now planning for an exploration campaign and, by the end of next month, it will be sampling and trenching, to define drill targets at Los Lirios.
In the meantime, EVR Managing Director Hugh Callaghan says he’s pleased with progress.
“These initial assay results are pleasing, and support the view we have taken that Los Lirios is potentially a near-term producer of high-grade antimony mineralisation,” he said.
“We are looking at options for trial processing of ore.
“We are increasingly confident that our entry to the antimony market can give us near-term
momentum while our longer-term focus remains our large high-grade Parag copper-molybdenum-silver porphyry project in Peru.”
EVR’s strategic molybdenum move
For a quick look at that, Molybdenum is produced at 76 mines around the world, but more than half are in China – which is imposing export controls.
EV Resources holds 70% of the Parag Copper-Molybdenum Porphyry Project in Peru which is being developed to supply to the U.S.
The more than 80 holes already drilled at Parag show consistent high-grade molybdenum, which is a by-product of copper.
There were 627 million pounds of molybdenum produced around the world in 2023. Behind China, Peru and Chile were the next biggest producers – each supplying 15% of global supply.
Moly worth 5x as much as copper
The commodity traded on the London Metals Exchange, and at nearly US$21 a pound at the end of last week, it’s worth five times as much as copper.
EVR has today been trading up more than 7% to 0.8 cents a share.
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