Parag Project, Peru
EV Resources Limited (ASX: EVR) has announced highly encouraging results from an IP/Resistivity and Ground Magnetic geophysical survey at the Parag Project in Peru. The survey covered 34 line kilometers over 18 lines and revealed strong correlations between surface mineralisation and geophysical anomalies....
Project Summary
The Parag Project totals 1399 hectares and is located some 350kims from Lima, with travel time of about eight and a half hours. The terrain consists of open hills, above the tree line, with an average elevation of 4,700m. Recent programmes and historical drilling suggest the presence of an economic copper-molybdenum orebody, with significant value contributed by the molybdenum, currently more than five times the price of copper. Minor quantities of silver and gold have been recorded in most drill holes.
EVR’s plan is to move rapidly towards defining a shallow resource on the breccias whilst developing a deeper, longer-term, porphyry copper target.