Key facts about EV Resources Limited (ASX: $EVR) drilling commencement at Parag, Peru

EV Resources Limited (ASX: $EVR) has announced the commencement of drilling at Parag, Peru. The company plans to drill multiple diamond drill holes in 2024 from 20 permitted platforms. The drilling is part of the company's strategy to define a shallow resource on the breccias and develop a deeper, longer-term porphyry copper target at the project.

Executive commentary on drilling commencement at Parag, Peru

The commencement of drilling at Parag represents a significant milestone for EV Resources in its transition to a generator and explorer of copper projects in the Americas. The company's Managing Director, Hugh Callaghan, highlighted the fundamental demand and supply of copper, indicating considerably higher prices in the years ahead. He also emphasized the support of the Peruvian management team and community partners in making this milestone possible.

Summary of EV Resources Limited (ASX: $EVR) drilling commencement at Parag, Peru

EV Resources Limited (ASX: $EVR) has initiated drilling at Parag, Peru, with the aim of defining a shallow resource on the breccias and developing a deeper, longer-term porphyry copper target. The company's plans include drilling multiple holes from 20 permitted platforms in 2024, with a larger program permitted for 2025 onwards. The drilling contractor will commence an initial 8,000-meter program of diamond drilling, targeting sites well understood from old drill campaigns. Additionally, a geophysics program is planned for the 2nd quarter to identify other shallow breccia targets. The company also highlighted its strong support from local communities and the establishment of community partnership agreements. EV Resources looks forward to continued drilling at Parag and anticipates maiden drilling at Don Enrique later in 1H 2024.