EV Resources (ASX:EVR) has started drilling at Parag in Huauru province in central Peru and with substantial areas of the licence yet to be mapped, an IP survey will be scheduled in 2024.
The company’s plan is to now move rapidly towards defining a shallow resource on the breccias whilst developing a deeper, longer-term, porphyry copper target at the project.
EVR Managing Director Hugh Callaghan says drilling at Parag represents a massive milestone in the company’s transition to a generator and explorer of copper projects in the Americas.
“The fundamental demand and supply of copper points to considerably higher prices in years ahead. A scarcity of worthwhile projects, and our timing, positions EVR to capture the growing interest in copper.”
Callaghan says EVR expects to be drilling Parag for a long time to come with maiden drilling at Don Enrique also on the cards later in 1H 2024.
Today’s (25 January 2024) update follows news last week that road and drill pad works were underway at the high grade copper-molybdenum project following EVR obtaining the necessary permits and agreements to commence drilling at the project situated in Huauru province in central Peru.
EVR says geophysics program is planned for the Q2 2024, which will, inter alia, help identify other shallow breccia targets as the correlation of the geophysics to old drill holes will provide a good working baseline.
Write to Adam Orlando at Mining.com.au
Images: EV Resources
