EV Resources Ltd
- ASX Code: EVR
- Market Cap: $15,200,016
EV Resources Uncovers Four New Antimony Vein Systems at Los Lirios, Expanding Drill-Ready Target Inventory
EV Resources (ASX: EVR) has confirmed four previously unrecognised mineralised feeder vein systems at its 70%-owned Los Lirios Antimony Project in Oaxaca, Mexico. The EV Resources Los Lirios antimony project new feeder veins in Mexico discovery materially expands the geological footprint of one of the company's most advanced exploration assets.
A systematic geological mapping and channel sampling campaign has delivered four new hydrothermal breccia targets, a defined 900m by 200m mineralised corridor, and 31 channel samples now submitted for laboratory analysis. The company reports these findings point toward a substantially larger mineralised system than previously understood.
The update represents a significant step forward in EVR's stated path to a maiden JORC Mineral Resource at Los Lirios, with the company confirming that environmental authorisation for Phase 2 drilling has been secured.
"Every time our team walks this ground, the system gets bigger. In a single campaign we have gone from one mineralised corridor to four new breccia targets and four new feeder veins, and at Tetlate we are observing sizeable stibnite crystals sitting in the breccia. These are the types of geological features we are looking for as evidence of hydrothermal pathways responsible for antimony mineralisation," said Miguel Barahona, Interim CEO of EV Resources.
When big ASX news breaks, our subscribers know first
A System That Keeps Growing: Four New Feeder Veins Confirmed
The mapping campaign covered six priority areas across Los Lirios 1, including the Open Pit, Pit 6, the San Benito Dyke, Crucero JIU, the Upper Fold Hinge, and the Cofradía Area. According to the company, the geological team's findings exceeded prior expectations considerably.
Four previously unidentified mineralised vein systems have now been confirmed:
- Santo Niño Vein
- San Juan Vein
- San Ramón Vein
- JIU Vein
Each structure is interpreted as a hydrothermal feeder system, described as the underground plumbing responsible for transporting hot, mineral-rich fluids into carbonate host rocks, where antimony precipitates and accumulates in what are known as carbonate replacement deposits (CRDs). Their identification is considered significant because it points toward potential for a large-scale extension of the mineralised footprint well beyond the area previously drilled.
Furthermore, alongside the four new veins, systematic mapping has also identified four new hydrothermal breccia targets, consequently increasing the number of drill-ready targets at Los Lirios.
Understanding the Geology: What Are CRDs and Why Do They Matter?
Carbonate Replacement Deposits (CRDs) are a type of mineral deposit formed when hydrothermal fluids — superheated water carrying dissolved metals — move through fractures and faults and react chemically with carbonate rocks such as limestone. The chemical reaction dissolves the original rock and replaces it with ore minerals, in this case primarily stibnite (the principal ore mineral of antimony) and cervantite (an antimony oxide).
Why Does This Matter to Investors?
CRD-style systems are recognised in the exploration sector for hosting concentrations of base and specialty metals within structured, predictable geological settings. The identification of feeder veins — the conduits that delivered mineralising fluids to the replacement bodies — helps geologists trace where mineralisation is likely to be found and how it may extend at depth.
In EVR's case, the discovery of four new feeder structures increases the number of testable targets and the potential scale of any future mineral resource.
| Term | Definition |
|---|---|
| CRD (Carbonate Replacement Deposit) | Ore deposit formed by replacement of carbonate rock with ore minerals via hydrothermal fluids |
| Stibnite | Primary antimony sulphide mineral; the main ore mineral of antimony |
| Cervantite | Secondary antimony oxide mineral; forms from oxidation of stibnite |
| Hydrothermal Breccia | Fragmented rock cemented by minerals deposited from hot fluids; often associated with mineralising systems |
| Feeder Vein | Structural conduit through which hydrothermal fluids travelled to create replacement mineralisation |
| Channel Sample | Sample collected along a linear cut across a rock face to characterise mineralisation |
| JORC | Joint Ore Reserves Committee; the Australasian standard for reporting mineral resources and reserves |
Defining the Corridor: 900m by 200m of Mineralised Strike
One of the key outcomes from the campaign is the confirmation of continuity across the San Benito–Cofradía corridor, extending over approximately 900 metres of strike and 200 metres in width. Within this corridor, multiple replacement bodies, breccias, and feeder structures have been recognised.
Carrizales
The company identified Carrizales as a previously unrecognised exploration area within the San Benito–Cofradía corridor. An inclined shaft with approximately 18 metres of development intersects the San José CRD, described in the announcement as a black, porous replacement body with disseminated and vein-hosted stibnite and cervantite.
At approximately 16 metres depth, the shaft intersects the Carrizales hydrothermal breccia over a width of 0.55 metres. Channel samples 799001 to 799004 were collected across these intervals.
Santiago
The Santiago working is a near-horizontal historical development spanning approximately 13 metres. It exposes a polymictic hydrothermal breccia comprising angular black limestone and CRD clasts within an intensely argillic-altered matrix, with disseminated cervantite and millimetre-scale veinlets.
Notably, the company noted that Santiago coincides with a previously defined geophysical anomaly, which it states is consistent with the interpretation of a hydrothermal breccia pipe, though geometry, size and continuity remain to be confirmed by drilling. Channel samples 799005 to 799008 were collected for assay.
Cofradía–San Manuel: Strongest Visual Mineralisation of the Campaign
The Cofradía target delivered what the company describes as the most compelling field observations of the program. Mapping confirmed a hydrothermal breccia system exposed by historic workings at the San Manuel Mine and the Tetlate Shafts, hosted within stratified limestone and gypsum affected by hydrothermal brecciation.
The standout observation came from Tetlate Shaft 3, where the team encountered coarse stibnite crystals infilling interclast spaces within hydrothermal breccia, alongside barite, cervantite and trace valentinite. EVR states this represents the strongest visual mineralisation observed during the entire campaign.
Antimony intensity is reported to increase progressively along strike, from trace cervantite at the San Manuel Mine through to abundant visible stibnite at Tetlate Shaft 3. The company suggests this indicates a coherent, vectored mineralising system with a nearby hydrothermal source, which is precisely the kind of geological evidence that underpins the EV Resources Los Lirios antimony project new feeder veins in Mexico narrative.
31 Samples Submitted: What the Assay Results Will Tell Investors
All 31 channel samples collected during the program have been submitted to the laboratory. Results are expected in the coming weeks and will be released to the market upon receipt, verification and interpretation.
| Sample ID | Location | Key Visual Observations |
|---|---|---|
| 21 channel samples | Los Lirios 1 Open Pit, Pit 6, San Benito Dyke, Crucero JIU, Upper Fold Hinge, Cofradía | Geological continuity testing across mineralised zones |
| 799001 | Carrizales underground working | San José CRD; porous replacement body with stibnite and cervantite |
| 799002–799003 | Carrizales, ~13m depth | San José CRD within hydrothermal gypsum; stibnite along gypsum–breccia contact |
| 799004 | Carrizales, ~16m depth | Carrizales breccia over 0.55m; altered matrix with cervantite veinlets |
| 799005–799008 | Santiago underground working | Angular limestone and CRD clasts in argillic matrix; disseminated cervantite |
| 799009 | San Manuel Mine | Cofradía–San Manuel breccia; cervantite veinlets in fractures |
| 799010 | Tetlate Shaft 1 | Cofradía–San Manuel breccia system; calcite–cervantite veinlets |
All visual mineral descriptions noted above are field estimates only and are not a substitute for laboratory assay results. Visual estimates of stibnite and cervantite abundance should not be relied upon as an indication of antimony grade.
The assay data is intended to guide the direction of the drill program. Phase 2 drilling, with environmental authorisation now confirmed, is being designed to test the interpreted breccia pipes and the intersections between the Santo Niño, San Ramón and JIU feeder structures and the San José CRD.
Forward Plan: Pathway to Maiden JORC Resource
EVR has outlined a sequence of next steps intended to move the project from surface mapping toward a maiden JORC Mineral Resource Estimate.
| Activity | Status / Timing |
|---|---|
| Receive and report assay results from 31 channel samples | Results expected in coming weeks |
| Systematic trenching along San Elias and San Miguel structure extensions | Next phase of fieldwork |
| Channel sampling of San Francisco Breccia Pipe, Santiago targets and Tetlate Shaft 3 | Next phase of fieldwork |
| Ground geophysics across Cofradía–San Manuel and Santiago–Carrizales corridors | Ahead of drilling |
| Phase 2 diamond drilling program (breccia pipes and feeder-CRD intersections) | Environmental authorisation confirmed; program design underway |
| 3D geological model integrating all data | Targeted to support maiden JORC Resource Estimate |
The Investment Thesis: A Scaling Antimony Story With Multiple Catalysts Ahead
EVR's Los Lirios update adds to an investment thesis built around several complementary elements. However, to fully appreciate the opportunity, it is worth considering each driver in turn.
A mineralised system larger than previously mapped. The confirmation of four new feeder veins and four new breccia targets in a single campaign, within a defined 900m by 200m corridor, indicates the system remains open. Each new structural discovery adds to the potential footprint of a future mineral resource.
Phase 2 drilling authorisation confirmed. Environmental authorisation for the next phase of drilling has been secured. With assay results due in the coming weeks and a drill program being designed concurrently, the project is progressing toward further newsflow.
Antimony's critical mineral status. Antimony is designated as a critical mineral by the United States, European Union and Australia, given its applications in energy storage, battery technology, defence materials and high-tech manufacturing. EVR states it is positioning itself to contribute to North American antimony supply, a market noted for supply concentration risks. The EV Resources Los Lirios antimony project new feeder veins in Mexico development is consequently well-timed given this broader strategic context.
An integrated North American platform. Los Lirios does not sit in isolation within EVR's portfolio. In addition, the company is building what it describes as an integrated North American antimony value chain, comprising the following assets.
| Asset | Location | Role in Strategy |
|---|---|---|
| Tecomatlán Processing Plant | Mexico | Regional processing hub; Proof-of-Concept phase underway |
| Los Lirios Antimony Project | Oaxaca, Mexico (~50km from Tecomatlán) | Maiden JORC Resource target; potential future proprietary feed |
| Dollar & Milton Projects | Nevada, USA | US-domiciled critical minerals exposure |
Near-term newsflow. With 31 assay results pending, Phase 2 drilling in design, geophysics planned, and additional channel sampling of Tetlate Shaft 3 and the Santiago target scheduled, EVR has multiple items of newsflow anticipated over coming months.
The next major ASX story will hit our subscribers first
Why Investors Should Keep Watching EV Resources
A single reconnaissance campaign has expanded the number of structural targets at Los Lirios from one mineralised corridor to four new breccia targets and four new feeder veins. The company has also confirmed environmental authorisation for a phased drilling program intended to test the intersections considered most likely to host antimony mineralisation.
The combination of an expanding target inventory, confirmed Phase 2 drilling authorisation, pending assay results and an integrated processing strategy at Tecomatlán positions EVR with several near-term catalysts across its portfolio. For investors monitoring the critical minerals sector, the EV Resources Los Lirios antimony project new feeder veins in Mexico story represents a project with genuine geological momentum and a clearly articulated pathway to resource definition.
"Every time our team walks this ground, the system gets bigger," Barahona noted — and on current evidence, that assessment appears to be well supported by the data emerging from this campaign.
Key Takeaway: EV Resources has expanded the geological understanding of Los Lirios through a single campaign, confirming four new feeder vein systems, four new hydrothermal breccia targets, and a 900m by 200m mineralised corridor. With 31 assay results pending, Phase 2 drilling authorised, and an integrated North American antimony strategy in execution, the company is entering a period of anticipated newsflow relevant to investors tracking the critical minerals sector.
Ready to Track EV Resources' Next Move at Los Lirios?
With four newly confirmed feeder vein systems, a 900m by 200m mineralised corridor, and Phase 2 drilling authorisation already secured, EV Resources (ASX: EVR) is entering a period of significant activity at Los Lirios. Assay results from 31 channel samples are expected in the coming weeks, with drill program design underway concurrently. Investors seeking to understand the full scope of EVR's North American antimony strategy — spanning Los Lirios, the Tecomatlán Processing Plant, and the Nevada-based Dollar & Milton Projects — can explore the company's latest updates and project details directly at evresources.com.au.
