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Exploration is “rapidly advancing across multiple work fronts” for EV Resources (ASX:EVR) at the Los Lirios Antimony Project in Oaxaca State, with the Australian explorer now confident its Mexican mining flagship will become a large-scale, high-grade antimony system with added-on gold and silver potential.
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The progress already made by EVR’s exploration team has been “exceptional,” the Aussie explorer’s chairman, Shane Menere, declared today.
“Every week, our team at Los Lirios is making big gains. In just weeks, we’ve expanded sampling, completed trenching, built road access, and mapped over 20,000 square metres across priority areas,” he told shareholders.
“The scale ā over 3.5km of strike ā and the grades we are targeting reinforce Los Lirios as one of the most exciting undeveloped antimony projects globally.”
Even better for those who have been following the EVR journey in Mexico, everything’s been accelerated after recent fieldwork; geological mapping in particular picked up a fresh discovery zone, “El Hormiguero,” just recently.
All exciting, of course, but made all the more timely because EVR’s momentum comes right when antimony has become a hot topic across the world.
“This exploration comes [right] when antimony scarcity is at historic levels,” Mr Menere explained. “Strategic demand in the U.S. has never been higher.”
Some of that is helped on by China and Russia controlling as much as 80% of the production, meaning EVR can wield Los Lirios as a strategic source of high-grade antimony for U.S. buyers that would be close by.
Today, antimony is selling for around US$21,776.52 per ingot block.
EVR has been up +8.3% today and is currently at 1.3cps.
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