Overview of EV Resources Limited's latest announcement

EV Resources Limited (ASX: $EVR) has released the assays from the final three diamond drill holes of the 1H 2024 drill campaign at the Company's high grade Parag copper-molybdenum-silver project in Peru. The results indicate high grade copper-molybdenum-silver mineralization in both the breccia and surrounding intrusive porphyry and hornfels, expanding the potential scale of mineralization at Trinchera Este.

Executive commentary on the drill results

Hugh Callaghan, Managing Director of EVR, stated, 'The successful drill campaign at Trinchera Este highlighted high grade copper-molybdenum-silver mineralization in both the polymictic breccia and in the surrounding intrusive porphyry and hornfels. This supports our view that the Parag porphyry system is potentially large. The geophysics programme commencing this week will help us understand the system better and guide further drilling programmes.'

Summary of the announcement and outlook

The latest drill results from EV Resources Limited's Parag project in Peru have revealed significant high grade copper-molybdenum-silver mineralization outside the breccia system. The company plans to extend the program to evaluate economic mineralization outside the breccia and explore at depth for the presence of a larger porphyry-type system. With the review of silver content underway and rising silver prices, the project is expected to offer a valuable by-product credit. Additionally, the commencement of magnetometry and Induced Polarisation studies at Parag aims to provide a better understanding of the system's structure, geometry, and scale. EVR also plans to conduct a 2,000-meter drilling program at Don Enrique and review copper assays at the polymetallic Khartoum project in Queensland. The company remains optimistic about the potential of its mineral properties and programs, although it acknowledges the inherent uncertainties and risks associated with mineral exploration and development.