EV Resources (ASX:EVR) is geared up for a maiden drilling run right out the gate into 2026 with a diamond-tipped drill rig to plug up to 2,000 metres in a Phase One campaign targeting a fault zone boasting historical workings.
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The Australian company is ultimately testing a strike zone some 900 metres long within a broader four-kilometre system; the 900 metre component reflecting what is the foremost prioritised target by geotechs. Results from Phase One, all cards in order, will be used to inform further phases in 2026 and beyond.
The company reported on Monday that it stands fully funded to fund the program, suggesting no immediate cap raise heading into the new year. Ultimately, EVR is looking at inking a maiden JORC Mineral Resource Estimate for Los Lirios in Q3.
Ahead of that impending milestone, EV Resources is still waiting to receive results from recent metallurgical testwork (metwork) on-site using antimony ore from the project, and later this month, the results of early-stage channel sample assays are also due back to the company’s executive desks.
Last week, the company reported its processing plant on-site has been greenlit by the local authorities for operation, with a refurbishment now being carried out to begin crushing and processing material at the project.
“This maiden drilling program represents the first drilling test of the Los Lirios system and is a critical step in unlocking its broader potential,” EVR CEO Mike Brown said.
He continued: “Our geological work to date has provided a strong structural and lithological framework, pointing to the Lirios Fault Zone and associated replacement horizons as compelling targets.”
EVR last traded at 0.8cps.
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