EV Resources Limited (ASX: EVR) has provided an update on the company’s revised strategy to focus on copper assets in The Americas, announced following the acquisition of the Parag Project (EVR 70%) in Peru.
EVR’s 50% owned subsidiary, Minera Montserrat S.A.C, has signed the final and definitive Land Access Agreement with the community of Quero, near the Don Enrique Copper-Silver Project. The Agreement follows several months of engagement and building relationships, and the three-year agreement commits to investment of 250,000 Peruvian Soles (approximately A$105,000) in road infrastructure, agriculture, and other community welfare projects.
Currently, at Don Enrique the EVR is preparing minor environmental filings required to finalize the set of agreements under which it can execute a drilling programme at the project. This campaign will initially test the chargeability anomaly revealed by an induced polarization (IP) survey.
Additionally, the company is well advanced in the preparation of its first drill campaign at the high-grade Parag Copper-Molybdenum Project. Drill permitting and planning activities which were originally based upon an 8,000m diamond hole programme are being revised following relogging of 10,170m of old core held in the core shed. The upgrade of the planned drill campaign follows the interpretation of this relogging, along with a substantial data set of magnetometry and IP surveys which were recently discovered.
As a result of the above review, in addition to replicating unreported holes from the “Gubbins” drill campaign in the 1990’s, EVR is planning for additional deeper holes to test the potential for a porphyry system below this “breccia zone”.
Concurrent with the company’s discussions with the community, EVR has also met during August and September with the Peruvian Energy and Mines Ministry, and the Regional Mining Direction of Lima North, as well as additional regulatory authorities involved in the drill permitting process.
To find out more, please visit www.evresources.com.au
To read more articles like this, please visit www.theassay.com/news
