EVR continues to report high-grade intersections at Parag Project, Peru

Project Name: Parag Project
Project Location: Peru
Project Stage: Exploration

ProjectBank Summary:
EV Resources Limited (ASX: EVR) is pleased to announce the latest assay results from its Parag copper-molybdenum project in Peru. The assays continue to impress, demonstrating significant mineralisation from both surface and at depth. The recent drilling campaign included seven diamond drill holes totaling 1,980 meters, with drilling set to resume in May after the wet season.

EV Resources Highlights:

• Hole APG-DDH-001 at Parag has assayed 476m at 0.31% Cu and 0.14% Mo from 3.2m, including:

  • 348m grading 0.40% Cu and 0.20% Mo from 3.2m to 351.2m, with intersections of:

    • 44m at 0.64% Cu and 0.31% Mo from 3.2m to 47.2m

    • 24m at 0.81% Cu and 0.43% Mo from 7.2m to 31.2m

    • 86m at 0.30% Cu and 0.40% Mo from 55.2m to 141.2m

    • 50m at 0.40% Cu and 0.24% Mo from 209.2m to 259.2m

• Hole APG-DDH-002 has assayed 258.8m at 0.40% Cu and 0.14% Mo from 1m, including:

  • 130m at 0.60% Cu and 0.30% Mo from 1m to 131m

  • 80m at 0.80% Cu and 0.30% Mo from 1m to 81m

  • 58m at 0.90% Cu and 0.30% Mo from 23m to 81m

• Molybdenum is trading at US$19.82/lb (LME fix 18th April 2024) – nearly five times more valuable than copper.

• Assays reported here are for core drilled on the La Trinchera Este breccia, confirming consistent copper and molybdenum mineralisation.

MD/CEO Statement:
Hugh Callaghan, Managing Director, commented: "The high-grade intersections at Parag were recorded from near surface to over 470 meters, supporting our view that the project warrants further exploration. We are extremely pleased with both the copper and molybdenum grades reported and continue to be encouraged by the increasing significance of copper in the results at depth. These positive results support the board’s decision to resume drilling in May following the end of the region’s wet season."