Green metals explorer EV Resources (ASX:EVR) has pegged a further 18 unpatented claims with geological services company MineOro Explorations in the Cienega District of Arizona, US.
The company reports the 18 claims, collectively known as the Golden Eagle claims, were secured by completing and paying for the pegging and registration started by MineOro, who has accepted a 2% net smelter royalty (NSR) in return for EV Resources completing the pegging in its own name.
Additionally, 1% of the NSR may be purchased by EV Resources prior to development for a cash payment of US$750,000
EV Resources says the 370-acre Golden Eagle claims, combined with 145 other unpatented lode mining claims for about 2,996 hectares in the Cienega District, will form the la Cienega Project.
The company says the Golden Eagle target presents as a block of ‘highly’ mineralised iron oxide and copper oxide Paleozoic carbonates and siliciclastic sediments that have been rotated to a sub-vertical orientation. More than 4km of structurally controlled quartz veins have been identified along this trend.
EV Resources says it has proposed an exploration program of systematic sampling, mapping, and drone magnetic surveys to begin in the coming weeks.
The company says the dominant mineralisation of the Buckskin District is related to a regional burial event caused by tectonic over-plating. As a result, the Buckskins experienced a regional MVT-style mineralisation event where iron oxide and copper mineralisation has emplaced along stratigraphic controls within the Paleozoic sedimentary rocks.
According to the company, the Golden Eagle claims area has ‘extensive’ historical workings under multiple names. Historical naming conventions include Gray Eagle, Double Eagle, Arizona Empire, Arizona McGinnis, and others. Additionally, more than 4,000m of underground workings have been reported at Golden Eagle.
This follows on from the consolidated ground position at the New Pride Project, located 13km southeast of la Cienega, which prioritises the Eastern bloc of the project close to the former Pride Mine where mapping and sampling produced a ‘considerable’ number of ‘high-grade’ samples.
On 3 March 2023, EV Resources elected not to exercise its option for the New Standards Claims and notes it no longer holds any interest in these 6 claims covering 124 acres.
EV Resources is a green metals explorer focused on its diversified portfolio of projects around the globe considered prospective for silver, tin, tungsten, tantalum, lithium, copper, lead, and gold.
These projects include the Khartoum, Shaw River, and East Pilbara Lithium projects in Australia, the New Standard Copper Mine in the US, the Weinebene and Eastern Alps Lithium Project in Australia, the Tierra Blanca Project in Mexico, and the Yanamina Gold Project in Peru.
Images: EV Resources Ltd
