The Conversation (0)
EV Resources Limited (ASX:EVR) (“EVR” or “the Company”) has reached agreement with a resources private investor based in the USA, for the acquisition of 49 unpatented claims (“The Claims”) over the Coyote Creek Antimony Project.
Highlights:
- EVR has reached agreement with a private US Investor to acquire 49 unpatented claims over the Coyote Creek Antimony Project in Utah, USA.
- The claims cover both old workings and waste from historical antimony mining up to the 1920’s.
- A historical non JORC resource estimate of 12.7 million metric tons grading 0.79% Antimony was estimated by the Utah Geological and Mineral Survey in 1975.
- The historical estimate above is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources or ore reserves in accordance with the JORC Code, and it is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.
- The USA currently has no operating antimony mine and imports all its antimony concentrates.1
The USA imports all of its antimony concentrates at present1 and the Coyote Creek Project appears to have the potential to become a domestic supplier of antimony at a time of well documented supply shortages.
This acquisition follows EVR’s recent announcement of the proposed acquisition of 70% of Los Lirios, an open pit antimony mine in Oaxaca state Mexico. The Coyote Creek Project fits with EVR’s preference to develop an Americas antimony division based upon open pit mining opportunities. (See ASX announcement “Acquisition of Los Lirios Antimony Mine (EVR 70%) Mexico” dated 28th January 2025).
Background to Coyote Creek Antimony Project
The demand for raw materials for the defense effort during the 2nd World War prompted a review of the Coyote Creek Project, and field work including trenching was conducted between November 1941 and February 1942.
Location
The Coyote Creek claims are located in Garfield County, Utah, 11km east of the town named Antimony. The Canyon in which it is located is referred to variously as Coyote Creek Canyon or Antimony Canyon. Access to the project is via paved roads and then unpaved forestry roads navigable with a low clearance vehicle.
Map 1 Location of the Project
Map 2 Claims at Coyote Creek
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This article includes content from Ev Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
IP Surveys to Commence at Birdsnest & Epithermal Prospects
HIGHLIGHTS
- Gradient Array Induced Polarisation survey to commence at the Birdsnest & Epithermal prospects located within the 100% owned Newman Gold Project
- Additional Dipole-Dipole Induced Polarisation survey to follow in order to refine geophysical targets for subsequent drill testing
Figure 1: Location of the Birdsnest and Epithermal Prospects within the Newman Gold Project.
The Birdsnest and Epithermal Prospects are situated proximal to the bounding contact of the Sylvania Inlier and north of the Nanjilgardy Fault, both of which are highly prospective zones for gold mineralisation (Figure 2). The GAIP survey data is expected to provide useful layers of geophysical information to assist Peregrine’s interpretation of sub-surface geology and structure, provide feedback for further drill targeting of existing gold and base metal mineralised trends and potentially identify new target zones in other parts of the prospect areas.
Figure 2: Newman Gold Project relative to regional geological structures and neighbouring tenements.
The GAIP surveys will produce plan view maps of Induced Polarisation (IP) chargeability and resistivity anomalies relating to potential sulphide minerals associated with gold and/or base metal mineralisation within approximately 100m from surface within the GAIP survey grid areas. The planned GAIP survey grid areas are both 1.2km long (NW-SE) by 900m wide (NE- SW) (Figure 3).
Figure 3: Planned IP Survey area of Birdsnest & Epithermal Prospects (E52/3850).
The GAIP transmitter electrodes and receiver survey lines will be oriented NE-SW across the grid areas, which is perpendicular to the general geological strike. IP receiver lines will be spaced 100m apart, with receiver electrodes spaced 50m apart along the IP receiver survey lines.
Pending GAIP survey results, follow-up Dipole-Dipole IP (DDIP) surveying across priority GAIP anomalies identified at these prospects may be considered in order to produce cross section images of IP chargeability and resistivity to a maximum depth from surface of approximately 350m along the DDIP survey lines, which will provide feedback on the depth and orientation of the GAIP anomaly sources and thereby allow more accurate drill targeting of IP anomalies in the future.
The Company has engaged experienced IP contractor Khumsup Geophysics to undertake the surveys in early April and are scheduled to take between 2 to 3 weeks to complete with final reporting to be released in May. Subject to these results, the Company will immediately commence drill planning activities.
Geophysical consultants from Resource Potentials Pty Ltd have assisted with the IP survey planning and will QC the survey data, provide preliminary updates during the survey period and then process, interpret and model the final IP survey data, as well as assist with follow-up exploration planning as needed.
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This article includes content from Peregrine Gold Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
