EV Resources (ASX: EVR) has received ‘spectacular’ copper and gold results from outcrop samples collected at its New Standard Project in Arizona.
The company reported copper values up to 16.8% and gold values up to 16.95g/t from surface samples, with 26 of 60 samples returning copper values in excess of 1.0% Cu. ‘High-grade’ results were also reported from samples outside of the New Standard claims.
EVR said that the results indicate that New Standard may be part of a far larger system based on geological reconnaissance and sample results.
Based on this, the company has pegged additional lode claims covering 1,254 hectares around the existing 50 hectare New Standard claims.
Addressing the update, EV Resources Executive Director Adrian Paul said: “I am extremely pleased that EVR has once again been able to acquire a high-quality project, at a relatively low earn in, that fits our portfolio of technology metals assets.
The initial high-grade results provide the Company impetus to immediately undertake further exploration work to determine the extent of mineralisation and to then define drill targets.
“The initial high-grade results provide the Company impetus to immediately undertake further exploration work”
This is a province that hosts several world-class porphyry copper deposits including, Rosemont, Bagdad, Resolution and one of the largest copper mines in the world, Morenci. The fact that we have pegged additional claims in order to secure a larger area of mineralisation than initially recognised vindicates the Company’s interest in the Project.”
EV Resources had recently exercised an option to acquire the New Standard Copper Project from Gold Rush Expeditions, Inc. for $600,000, before engaging geological consultants SRK Consulting to undertake site evaluation.
SRK undertook geological reconnaissance including the collection of 60 surface samples at New Standard, along with untenured surrounding areas where historic workings and surface copper mineralisation were noted.
During this work, SRK observed historical workings, visible mineralisation and alteration outside of the New Standard claim area.
Photo of sample NSM-21-032 which returned 16.8% Cu and 8.48g/t AuIt further noted that areas to the east of New Standard have similar alteration and mineralogy to that observed at the historical New Standard site. These areas were not sampled by SRK during this campaign.
Moving forward, EVR reports that it is planning to undertake further reconnaissance mapping, systematic sampling, and geophysical surveys within the expanded tenement area to determine the extent of alteration and mineralisation and to aid in defining targets for drilling.
Once targets are identified, diamond core drilling will be completed to test the extent and continuity of mineralisation.
Images: EV Resources Limited
