EV Resources Mexico Antimony Hub Advances with Drilling and Geophysics

EV Resources Limited (ASX: EVR) has delivered a comprehensive operational update demonstrating significant momentum across its EV Resources Mexico Antimony Hub strategy, with 11 diamond drill holes completed at Los Lirios, geophysical surveys commenced, and the Tecomatlán processing plant refurbishment advancing on schedule for 2H2026 operational readiness.

The company is executing a multi-pronged approach to near-term antimony production, combining systematic exploration at its flagship Los Lirios project with rehabilitation of the strategically located Tecomatlán processing facility. This coordinated strategy positions EVR to capitalise on the critical minerals supply shortage whilst building a comprehensive antimony production hub in North America.

Systematic Geophysical Campaign Advances Property-Scale Exploration

According to the announcement, EVR has commenced a targeted 13 line-kilometre geophysical survey combining Controlled-Source-Audio-frequency Magnetotellurics (CSAMT) and ground magnetics across the Los Lirios project. The program covers 5km at Lirios 1 and 8km over Hormiguero and Lirios 2, designed to create a systematic exploration framework for the largely untested property.

Key Survey Parameters:

• 1.3km of strike length covered over the regional Lirios Fault Zone (LFZ)
• CSAMT specifically selected for antimony detection given stibnite-quartz mineralisation
• Ground magnetics to define structural controls over the hydrothermal system
• 90% of the property remains unexplored with nearly 5km of the LFZ yet to be tested

The geophysical program represents a fundamental shift toward systematic exploration, providing the technical foundation for a maiden JORC Mineral Resource Estimate targeted for Q3 2026. The announcement notes multiple parallel fault systems identified beyond the main LFZ structure, with the survey expected to significantly expand the drill-ready target inventory.

Furthermore, the EV Resources Mexico Antimony Hub development demonstrates the company's commitment to comprehensive exploration methodologies that will enhance resource definition capabilities across the project area.

"The commencement of geophysical surveys is a big step in unlocking the antimony potential of Los Lirios. CSAMT has been chosen as the most appropriate method given presence of stibnite as the dominant sulphide associated with mainly quartz," said Mike Brown, Managing Director and CEO.

First Systematic Drilling Program Delivers at Lirios 1

The company reports successful completion of 11 diamond drill holes at the Lirios 1 prospect, marking the first systematic subsurface testing of this high-grade antimony system. The drill program targets both Carbonate Replacement Deposit (CRD) horizons and vertical conduit structures, with important implications for understanding deposit geometry and volume potential.

Drilling Progress Summary:

• 11 holes completed with samples submitted for laboratory assay
• Drill rig advanced to Hormiguero prospect for continued campaign
• Results expected in 4-10 weeks following laboratory processing
• Core logging reveals important geological data on hydrothermal system controls

The Los Lirios system has previously demonstrated exceptional surface grades up to 30.2% antimony with outstanding metallurgical characteristics, including >90% recovery via gravity processing and 99% in initial flotation tests. The current drilling represents the first quantified subsurface intercepts expected from this proven high-grade system.

In addition, the systematic approach to drilling at Los Lirios reinforces the EV Resources Mexico Antimony Hub strategy by establishing robust geological controls that will guide future exploration phases.

San Miguel Vein Discovery Highlights Near-Surface Potential

A significant new discovery emerged during the current campaign with the identification of the previously unrecognised San Miguel vein structure adjacent to Pit 5 at Lirios 1. The 2-metre-wide vein was exposed at shallow depth, confirming additional near-surface antimony mineralisation in an area with no prior historical exploitation.

San Miguel Vein Characteristics:

Note: Results are from handheld XRF analysis with formal assays pending

The discovery demonstrates the untapped potential across the Los Lirios project area and provides an additional drill-ready target for systematic exploration. The presence of cervantite (antimony oxide) indicates natural oxidation of primary stibnite mineralisation, supporting the geological model for the broader system.

Tecomatlán Plant Refurbishment Progresses Toward Production

According to the announcement, rehabilitation of the Tecomatlán Processing Plant continues as the cornerstone of EVR's near-term production strategy. Located just 50km from Los Lirios, the facility provides a gravity-based antimony concentrator at low capital cost, eliminating the need to construct processing infrastructure from scratch.

Refurbishment Progress:

• 5-week grinding circuit program commenced with steel fabrication underway
• Three previously installed ball mills being rehabilitated for commissioning
• Electrical circuitry and 440V backbone assembly advancing
• Milestone-based payment structure protecting shareholder capital
• 2H2026 operational readiness target maintained

The plant strategy enables EVR to begin processing third-party ore whilst Los Lirios advances through exploration and development phases, providing multiple pathways to antimony production and cash flow generation.

However, the most significant advantage lies in the strategic positioning of the plant within the EV Resources Mexico Antimony Hub framework, creating synergies between processing capabilities and mineral resources.

Understanding CSAMT: A Powerful Tool for Antimony Exploration

Controlled-Source-Audio-frequency Magnetotellurics (CSAMT) is a geophysical technique that measures electrical resistivity variations in the subsurface by transmitting controlled electromagnetic signals and analysing the ground's response.

For antimony exploration, CSAMT is particularly valuable because:

• Stibnite (antimony sulfide) is conductive compared to surrounding rock
• The technique can detect sulfide mineralisation at significant depth
• It provides structural information about fault systems and hydrothermal pathways
• Results help prioritise drill targets and optimise exploration efficiency

EVR's selection of CSAMT reflects the company's technical approach to systematic exploration, moving beyond surface sampling to develop a comprehensive understanding of the Los Lirios system's subsurface architecture.

Consequently, this advanced exploration methodology strengthens the technical foundation of the EV Resources Mexico Antimony Hub by providing detailed subsurface mapping capabilities.

Investment Thesis: Critical Minerals Strategy in Execution Phase

EVR's EV Resources Mexico Antimony Hub represents a compelling investment opportunity in the critical minerals sector, with the company transitioning from exploration to near-term production across multiple workstreams. Antimony has been classified as a critical mineral by the US, EU, and Australia due to supply chain vulnerabilities.

Key Investment Drivers:

1. Strategic Timing: Antimony classified as critical mineral by major economies
2. Dual-Path Production Strategy: Third-party ore processing whilst developing Los Lirios
3. Proven High-Grade System: Surface grades to 30.2% Sb with exceptional metallurgy
4. Systematic Exploration Approach: Geophysics-guided drilling toward maiden resource
5. Low-Capital Processing Solution: Existing plant eliminates construction timeline/risk

Upcoming Catalysts:

The company's milestone-based approach to capital deployment and systematic exploration methodology demonstrate disciplined execution whilst maintaining significant upside potential across the largely unexplored property.

"With 90% of the Los Lirios property unexplored and nearly 5km of the prospective Lirios Fault Zone yet to be tested, the exploration upside remains substantial beyond current drilling targets."

Strategic Context: Building North American Antimony Supply

The announcement positions EVR as advancing a leading North American antimony development story, with a rare combination of high-grade mineralisation, existing processing infrastructure, and systematic exploration advancing toward production. The company's EV Resources Mexico Antimony Hub strategy addresses critical supply chain vulnerabilities whilst building a comprehensive antimony platform.

The integration of geophysical surveying with systematic drilling provides a technical foundation for resource definition whilst the Tecomatlán plant offers near-term production optionality. The convergence of critical minerals policy support, proven high-grade mineralisation, and disciplined execution across multiple workstreams establishes EVR as a notable antimony development story with significant near-term catalysts.

Why This Matters to Investors

EV Resources has successfully transitioned from planning to execution across its EV Resources Mexico Antimony Hub, with systematic exploration advancing alongside plant refurbishment toward 2H2026 production readiness. The combination of high-grade mineralisation, existing infrastructure, and largely unexplored upside positions the company as a premier North American antimony development opportunity with multiple value inflection points approaching over the next 12-18 months.

For instance, the coordinated approach of developing processing capabilities whilst advancing exploration activities creates multiple pathways to value creation and revenue generation. This strategic framework positions EVR to capitalise on the growing demand for antimony across battery supply chains and defence applications.

Ready to Explore the Antimony Investment Opportunity?

EV Resources is advancing its Mexico Antimony Hub strategy with systematic exploration and near-term production capabilities positioning the company at the forefront of North American critical minerals development. With drilling results expected within weeks, geophysical surveys expanding the target inventory, and the Tecomatlán plant advancing toward 2H2026 operational readiness, multiple catalysts are converging to drive value creation. Discover how EVR's disciplined execution across high-grade mineralisation and existing infrastructure could capitalise on the growing antimony supply shortage by visiting evresources.com.au.