EV Resources Limited: Reconnaissance rock chip results received and drilling completed at Khartoum Project
12 July 2022
HIGHLIGHTS
- Rock chip assay results have been received for reconnaissance sampling at over 30 prospects across the Khartoum Project.
- Tin values from historic mines to 4.62% in the Brownville area, 5.02% in the Stannary Hills area and 1.53% in the California area.
- High grade base metal values include 4.66% Cu, 24.4% Zn, 4.62% W, 211ppm Ag, 196ppm In (Brownville) and 3.69% Pb (Stannary Hills).
- 23 RC drill holes completed at Boulder Prospect testing ten targets.
- Numerous high-level targets identified for further exploration efforts.
EV Resources Limited (ASX:EVR) (“EVR” or the “Company”) is pleased to announce that rock chip results have been received for sampling undertaken at various prospects within the Khartoum Project. The Company’s preliminary RC drilling campaign at the Boulder Prospect area has also been completed.
During April and May 196 rock chip samples were collected from outcrop and historic mine workings, primarily in the Boulder, Brownville and Stannary Hills areas, at prospects where there has been minimal previous modern exploration. Numerous high-grade tin and base metal results were returned as summarised below. EVR’s exploration team are currently conducting follow-up detailed mapping and further geochemical sampling in several areas where surface alteration and high-grade rock chip results indicate potential for economic mineralisation.
The previously announced initial RC drilling campaign planned for the Boulder Prospect area has been completed, comprising 23 holes for 2781 metres. The drilling was designed to follow up a drilling campaign undertaken during 2007 and to test a number of new targets based on elevated tin values returned from rock chip geochemistry and geological mapping. Many defined targets were not tested during the initial phase of drilling due to the rugged topography of the area requiring significant earthworks to provide drill rig access. These areas will be further assessed once results have been received from the recent drilling. Most drill holes intersected varying widths of greisen alteration however the tenor of mineralisation will not be known until laboratory results have been received. Samples are currently at the laboratory with processing having commenced on the initial batch.
Figure 1. EV Resources rock chip sample and RC drilling locations
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ENDS
For further information, please contact:
Luke Martino
Non-Executive Chairman
Tel: +61 8 6489 0600
Adrian Paul
Executive Director
Tel: +61 8 6489 0600
This ASX announcement was authorised for release by the Board of EV Resources Limited.
Forward Looking Statement
Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. Therе can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR’s mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
Competent Person’s Statement
The information in this announcement that relates to the Khartoum Project, is based on information compiled by Mr Erik Norum who is a Member of the Australian Institute of Geoscientists. Mr Norum is employed by EVR on a full-time basis. Mr Norum has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Norum consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.
Compliance Statement
This announcement contains information relating to the Khartoum Project extracted from ASX market announcements dated 9 February 2021 and 30 March 2021 and reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“2012 JORC Code”). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements.
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