Overview of EV Resources' activities and achievements

EV Resources Limited (ASX: $EVR) has released its Quarterly Activities Report for the period ending 31st March 2024. The company commenced drilling at the Parag Copper-Molybdenum Project in Peru, achieving a significant 332m intercept at 0.375% copper and 0.197% molybdenum. EVR also raised A$2.2m for drilling and general working capital purposes during the quarter.

Executive commentary on Parag Copper-Molybdenum Project

The drill campaign at the Parag Copper-Molybdenum Project has been a key focus for EV Resources. The remarkable 332m intercept at 0.375% copper and 0.197% molybdenum from the maiden drill campaign is a significant achievement for the company. The visible mineralization observed in all drill holes drilled on Platforms 1 and 2, and the ongoing work at the Don Enrique Copper Project in Peru, demonstrate our commitment to advancing our copper-focused exploration strategy.

Summary of EV Resources' Quarterly Activities Report

EV Resources' Quarterly Activities Report highlights the successful commencement of drilling at the Parag Copper-Molybdenum Project, with a remarkable 332m intercept at 0.375% copper and 0.197% molybdenum. The company also raised A$2.2m for drilling and general working capital purposes. The ongoing work at the Don Enrique Copper Project and the planned disposal of non-core holdings reflect EVR's strategic focus on advancing its copper exploration projects. The company's cash balance as at 31st March 2024 was $1.24m, and it has also entered into a $25M finance facility and a $1.2M loan agreement to support its future activities.