Overview of EV Resources' geophysics survey results at Parag project

EV Resources Limited (ASX:EVR) has released the results of an IP/Resistivity and Ground Magnetic survey at the Parag project. The survey has identified high priority drill targets in the large porphyry system, following a successful drilling program earlier in 2024. The survey revealed highly encouraging IP and Ground Magnetic results, supporting the continued drilling program. The mineralized breccia system identified in outcrops at the Parag project surrounds strong magnetic anomalies related to two main centers with a ground magnetic solid response.

Executive commentary on the geophysics survey results

The recent geophysics program at Parag confirms our view that Parag is a compelling porphyry target. The breccias drilled to date have been an invaluable source of information and represent outcropping and shallow high grade mineralization that can potentially support economic mining activity while the bigger porphyry system is explored. A number of larger strategic partners are already showing interest in the long-term potential of Parag.

Summary of geophysics survey results and future plans

The geophysical survey at the Parag project has identified high priority drill targets in the large porphyry system. The survey results have demonstrated compelling drill targets and confirmed that Parag is a significant porphyry system. EV Resources intends to integrate all the information generated, including historical data, to define future drilling targets. Additionally, the company is considering a partnership with a strategic partner to support the funding requirements for the exploration program focused on resource definition. The Managing Director, Hugh Callaghan, expressed confidence in the potential of Parag and the interest from strategic partners, indicating a positive outlook for the project's long-term potential.