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EV Resources (ASX:EVR) has successfully produced antimony ingots at Los Lirios in Mexico, which the company says “validates the suitability of Los Lirios material for end-product production” with simple, low-cost smelting.
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Disclaimer: This content has been prepared as part of a partnership with EV Resources Ltd and is intended for informational purposes only.
The Australian company produced the ingots from materials collected from two zones: Pit One in Lirios and East Pit at Lirios Two. Early direct-to-smelter testing was conducted at an independent facility in Guadalajara, where in-house engineers tested varying melting temperatures and flux compositions.
The result was EVR converting raw mineralisation into finished metal, which gives the company tangible proof of a “mine-to-metal” pathway.
Markets loved the news: In the first hour of Wednesday’s trade, EVR piled on a +7% advance to sell at 0.9cps. That brings the explorer’s 1Y returns up to +54%, and recovers much of the YTD dip it’s seen since January.
“This isn’t just a lab result,” EV Resources chief Mike Brown said. “It’s tangible proof that Los Lirios can deliver a finished metal product using straightforward metallurgical processes. By validating material from both Lirios 1 and 2, we have confirmed the potential simplified pathway for two different styles.”
Mr Brown continued: “As global antimony supply remains under significant pressure, proving a fast-track, mine-to-metal pathway in Mexico positions us as a key future supplier to the North American market.”
A comprehensive purity analysis is now underway to determine the suitability of the metal for high-specification strategic and defensive applications.
While that’s being run, EV Resources is also still advancing its first-phase diamond drilling program in Mexico. The current focus at Los Lirios has been zone one, where the six-kilometre-long Lirios Fault Zone sits centrally.
That key structure is being tested to identify high-grade feeder structures beneath historical artisanal workings. Early findings from the core have suggested there may be a significant hydrothermal system EVR can explore.
The company’s also looking to improve reporting accuracy for high-grade stibnite. ALS Global is currently testing a specialised XRF methodology that should help; that trial is expected to wrap up by late March.
EVR shares last sold at 0.9cps on Wednesday morning.
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