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EV Resources (ASX:EVR) has today purchased the last 50% of the Don Enrique project in Peru, complete with its many “drill-ready” copper-silver targets, after signing a USD$150,000 agreement with joint owners Minera Montserrat that now unites the land package into a single, 2,684-hectare prospect.
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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.
This $150K consolidation brings the Don Enrique claims together with the Estrella claim group, and gives Western Australia-based EVR control over a continuous 5.5 kilometre strike of prospective ground over in Peru.
The Estrella claims are significant because they’re spread across a four-kilometre northwest extension of a large chargeability anomaly already spotted at Don Enrique.
Controlling both claims groups gives the Australian explorer “maximum optionality” to create value with its Peru expansion, the company’s managing director and CEO, Mike Brown, told shareholders today.
“With copper, silver, and gold seeing significant growth, owning 100% of this drill-ready asset provides EVR with maximum optionality to create value while we concentrate our primary resources on the urgent critical minerals supply gap in the North American antimony market,” he said.
EVR has already secured an approved Environmental Impact Assessment and the necessary drill permits. Despite historic underground exploration drives and extensive surface work both being run in the past, the company’s impending programs will actually mark the first time the area’s been drill tested.
Geophysical surveys on-site recently defined a substantial chargeability high measuring around 1,500 metres in length and between 300 and 750 metres wide.
According to studies run by EVR, geological observations suggest a potential porphyry system may be lying in wait at depth. Copper values appear to increase in grade the deeper they appear, compared to near-surface.
Past high-grade mineralisation confirmed by historic channel sampling included 14 metres at 0.75% copper and 16 metres at 0.63% copper.
This morning, EVR shares have been selling at 0.8cps.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
