EVR Commences Drilling at Parag Copper-Molybdenum Project, Peru

Project Name: Parag Project

Project Location: Peru

Project Stage: Exploration

ProjectBank Summary: EV Resources Limited (ASX: EVR) has announced the commencement of drilling at the Parag Copper-Molybdenum Project in Huaura Province, central Peru. The drilling program, which includes multiple diamond drill holes, is set to proceed from 20 permitted platforms. This significant milestone follows recent road and drill pad preparations, positioning EVR to define a shallow resource on the breccias and explore a deeper porphyry copper target.

EV Resources Highlights:

• Commencement of Drilling:

  • Drilling from 20 permitted platforms initiated after road and drill pad works.

  • Initial 8,000-meter diamond drilling program targeting known sites from previous non-JORC compliant campaigns.

• Geophysics Program:

  • Planned for Q2 2024 to identify additional shallow breccia targets.

• Community Engagement:

  • Strong support from local communities, with agreements in place for multi-year community support programs.

MD/CEO Statement: Hugh Callaghan, Managing Director of EV Resources, stated: "The commencement of drilling at Parag represents a massive milestone for EVR in its transition to a generator and explorer of copper projects in the Americas. The fundamental demand and supply of copper point to considerably higher prices in the years ahead, positioning EVR to capture growing interest in copper. This progress would not be possible without the extraordinary effort of our Peruvian management team and the support of our community partners."