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EV Resources (ASX:EVR) is inching closer to a Los Lirios restart after strong metallurgical results from recent test work run at the antimony project in Mexico have set up an “enhanced” development pathway.
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The Aussie explorer today reported high antimony recoveries through simplified gravity-only processing, delivering total recoveries up to 90.8% and producing concentrate grades between 22% and 36% from 4.6% Sb.
These early results have been “extremely encouraging,” the company declared, and “materially enhance the development pathway for the project.”
EV Resources also shared standout results from a separate high-grade sulphide test, where its on-site techs delivered 99.2% antimony recovery – a victory for EVR as it looks to optimise development progresses.
“This underpins the value of Los Lirios as we advance towards drilling and further project definition,” said managing director Mike Brown today.
“Further Los Lirios work will focus on optimisation of the two-stage gravity circuit and evaluation of minor clean-up stages to refine concentrate quality,” the EV Resources helmsman explained. “Critically, this enables us to advance with engineering to refurbish and upgrade the plan as the first stage.”
The results support a lower CAPEX scenario, where the simple plant design will need fewer regulatory clearances and therefore a quicker pathway to starting.
They also give EVR a clear runway to when they’ll have to make a call regarding the Tecomatlán plant and its investment decision. The Market Link understands the explorer wants to have settled one way or another by January.
EVR also plans to keep running its flotation research as it hunts for sulphide mineralisation optimisation. “Exceptional” early recoveries have buoyed hopes there; those are not required for production planning.
To this arvo, EVR shares have been up +12.5%, to 0.9c each.
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