EV Resources Ltd: Further High-Grade Copper Samples at the New Standard Copper Project
Highlights:
- Assay results received from second sampling program at New Standard Project, located in Arizona USA
- High-grade copper assays up to 13.1% Cu and averaging 1.41% Cu
- Gold values up to 27.1g/t and averaging 0.43g/t
- A total of 130 samples were collected from surface and accessible underground locations.
- The next step for the Project will be planning and scheduling for the geophysics program.
EV Resources Limited (“EVR”, or “the Company”) is pleased to announce it has completed a second sampling programme at the New Standard Project located in Arizona USA.
Assay results for the 130 samples collected from surface and accessible underground sources returned copper values ranging up to 13.1% Cu and averaging 1.41% Cu, whilst gold values returned up to 27.1 g/t, averaging 0.43 g/t. Seven of the samples taken were split into 3 separate assays with 144 assays recorded in total (refer to Table 1 for a complete list of the results). The Company has also identified that much of the copper potential lies around the Old Pride Mine in the eastern half of the project area.
This second program followed on from the Company’s sampling campaign reported in March 2022 where 60 surface samples were taken from within the New Standard Claims and in untenured surrounding areas. The results from the initial campaign were promising with 26 of the 60 samples returning copper values greater than 1% to a maximum of 16.8% and 16 gold results greater than 0.1g/t gold to a maximum of 16.95g/t (refer ASX Announcement dated 15 March 2022 “Spectacular Copper and Gold Results from New Standard”).
The next step for the Project will be the planning of a geophysics programme which will evaluate and determine the potential of the project area to host a sulphide orebody. This will involve the evaluation of optimal methodologies and the availability of suitably skilled specialists will be investigated.
Geological Information about the New Standard Project
The New Standard Iron Oxide-Copper-Gold (IOCG) grassroots exploration project is located approximately 20 km east of Parker, La Paz County, Arizona, USA.
Figure 1: Project location and tenure
EV Resources has secured an option to acquire 100% of 6 unpatented lode mining claims, covering an area of approximately 124 acres (50.16 Ha) and purchased an initial 33.33% share in the project in January 2022. Subsequently, EVR staked an additional 145 unpatented lode mining claims at 20.66 acres (8.86 Ha) each for a total project area of approximately 2,996 acres (1,254 Ha), all of which is on public lands (Refer to ASX Announcement “Spectacular Copper and Gold Results from New Standard, dated 15th March 2022”).
The project area has seen sporadic mining from 1880 through 1969, the bulk of the work conducted between 1910 and 1920, with a second period of significant activity between 1940 and 1970. Workings include well over 100 shallow prospect shafts, a number of vertical shafts (reported to 90 metres in depth) and from at least five horizontal adits with lengths of up to 27m. Ore was hand-sorted and processed in small quantities at mills located at the Pride Mine and the New Standard Mine.
Mineralisation is located in a region characterized by low-angle, extensional dislocation surfaces known as detachment faults. The Buckskin-Rawhide detachment fault cuts across the study area. West of the fault, in the hanging wall, the rocks are chiefly Paleozoic-age carbonate rocks and Tertiary-age sedimentary rocks. East of the fault, in the footwall, the rocks are granitic gneiss, locally mylonitic.
Mineral deposits are associated with detachment faults at several localities in the Southwestern United States. Host rocks in the project area are primarily gneiss of both mafic and felsic composition; carbonates apparently acted as a buffering material as many of the larger concentrations of mineralization are located at or below the contact between carbonate and silicic rock.
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 programmes are forward-looking statements. There can be no assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. There 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 release that relates to Exploration Results is based on information prepared by Mr. Greg Ferdock, a certified professional geologist and member of the American Institute of Professional Geologists (CPG # 11060) (a Recognised Professional Organization). Mr. Ferdock is a licensed Professional Geoscientist registered with the American Institute of Professional Geologists and based in the USA.
Mr. Ferdock has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which they are undertaking to qualify as a CP as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Ferdock consents to the inclusion in the release of the matters based on their information in the form and context in which it appears. Mr. Ferdock is a consultant to the Company and holds no shares in EV Resources Limited.
Compliance Statement
This announcement contains information on the New Standard Copper Project extracted from an ASX market announcement dated 15 March 2022 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"). EVR confirms that it is not aware of any new information or data that materially affects the information included in the original ASX market announcement.
Table 1 – Results of Phase 2 Sampling - 130 Samples (totaling 144 assay results)
Sample ID |
Latitude GE |
Longitude GE |
Datum |
Cu % |
Au ppm |
|
|
|
|
Cu-OG62 |
Au-ICP22 |
NSM-22-061 |
34.1410890 |
-114.0605750 |
WGS 84 |
<0.001 |
0.005 |
NSM-22-062 |
34.1413190 |
-114.0600650 |
WGS 84 |
0.017 |
0.007 |
NSM-22-063 |
34.1420490 |
-114.0599870 |
WGS 84 |
0.024 |
0.188 |
NSM-22-064 |
34.1420100 |
-114.0615310 |
WGS 84 |
<0.001 |
0.009 |
NSM-22-065 |
34.1417770 |
-114.0614030 |
WGS 84 |
0.004 |
0.006 |
NSM-22-066 |
34.1399840 |
-114.0400620 |
WGS 84 |
1.665 |
0.007 |
NSM-22-067 |
34.1345560 |
-114.0505230 |
WGS 84 |
0.107 |
6.97 |
Sample ID |
Latitude GE |
Longitude GE |
Datum |
Cu % |
Au ppm |
|
|
|
|
Cu-OG62 |
Au-ICP22 |
NSM-22-068 |
34.1345350 |
-114.0506620 |
WGS 84 |
0.005 |
0.067 |
NSM-22-069 |
34.1346750 |
-114.0484920 |
WGS 84 |
2.08 |
0.02 |
NSM-22-070 |
34.1335200 |
-114.0473420 |
WGS 84 |
11.8 |
27.1 |
NSM-22-071 |
34.1334540 |
-114.0472790 |
WGS 84 |
0.0279 |
0.106 |
NSM-22-072 |
34.1336570 |
-114.0474710 |
WGS 84 |
0.0324 |
0.73 |
NSM-22-073 |
34.1321290 |
-114.0471570 |
WGS 84 |
4.54 |
4.28 |
NSM-22-074 |
34.1313830 |
-114.0468510 |
WGS 84 |
0.012 |
0.054 |
NSM-22-075 |
34.1312960 |
-114.0467410 |
WGS 84 |
0.024 |
0.04 |
NSM-22-075A |
34.1312960 |
-114.0467410 |
WGS 84 |
4.8 |
0.005 |
NSM-22-075 B |
34.1312960 |
-114.0467410 |
WGS 84 |
1.45 |
0.027 |
NSM-22-076 |
34.1312310 |
-114.0461690 |
WGS 84 |
0.047 |
0.023 |
NSM-22-077 |
34.1310250 |
-114.0458800 |
WGS 84 |
0.044 |
0.086 |
NSM-22-078 |
34.1286780 |
-114.0430480 |
WGS 84 |
0.031 |
0.011 |
NSM-22-079 |
34.1236240 |
-114.0427850 |
WGS 84 |
0.001 |
0.006 |
NSM-22-080 |
34.1260980 |
-114.0478460 |
WGS 84 |
2.31 |
0.009 |
NSM-22-081 |
34.1261860 |
-114.0479110 |
WGS 84 |
1.155 |
0.009 |
NSM-22-082 |
34.1329200 |
-114.0333000 |
WGS 84 |
1.315 |
0.007 |
NSM-22-083 |
34.1336420 |
-114.0333550 |
WGS 84 |
1.07 |
0.017 |
NSM-22-084 |
34.1328350 |
-114.0332930 |
WGS 84 |
1 |
0.009 |
NSM-22-084A |
34.1328350 |
-114.0332930 |
WGS 84 |
0.001 |
0.009 |
NSM-22-084B |
34.1328350 |
-114.0332930 |
WGS 84 |
1.44 |
0.03 |
PM-22-001 |
34.1582970 |
-114.0400060 |
WGS 84 |
0.060 |
0.015 |
PM-22-002 |
34.1591020 |
-114.0390730 |
WGS 84 |
0.749 |
0.067 |
PM-22-003 |
34.1579310 |
-114.0376640 |
WGS 84 |
1.59 |
0.065 |
PM-22-004 |
34.1567090 |
-114.0382630 |
WGS 84 |
0.544 |
0.06 |
PM-22-005 |
34.1561130 |
-114.0386900 |
WGS 84 |
2.13 |
0.055 |
PM-22-006 |
34.1564380 |
-114.0386750 |
WGS 84 |
4.71 |
0.079 |
PM-22-007 |
34.1565700 |
-114.0392200 |
WGS 84 |
4.2 |
0.225 |
PM-22-008 |
34.1566690 |
-114.0394730 |
WGS 84 |
2.8 |
0.281 |
PM-22-009 |
34.1568200 |
-114.0396730 |
WGS 84 |
1.605 |
0.142 |
PM-22-010 |
34.1574960 |
-114.0402120 |
WGS 84 |
0.834 |
0.092 |
PM-22-011 |
34.1570760 |
-114.0399480 |
WGS 84 |
0.022 |
0.013 |
PM-22-012 |
34.1566380 |
-114.0373800 |
WGS 84 |
0.023 |
0.006 |
PM-22-013 |
34.1564240 |
-114.0371910 |
WGS 84 |
0.007 |
0.015 |
PM-22-014 |
34.1548980 |
-114.0383220 |
WGS 84 |
0.028 |
0.015 |
PM-22-015 |
34.1521640 |
-114.0346870 |
WGS 84 |
7.14 |
0.221 |
PM-22-016 |
34.1521380 |
-114.0347360 |
WGS 84 |
0.367 |
0.005 |
PM-22-017 |
34.1524210 |
-114.0345880 |
WGS 84 |
4.94 |
0.162 |
PM-22-018 |
34.1527610 |
-114.0333970 |
WGS 84 |
12.2 |
0.829 |
PM-22-019 |
34.1543710 |
-114.0331950 |
WGS 84 |
0.553 |
0.016 |
PM-22-020 |
34.1562090 |
-114.0332950 |
WGS 84 |
0.027 |
<0.001 |
PM-22-020A |
34.1562090 |
-114.0332950 |
WGS 84 |
0.001 |
<0.001 |
PM-22-020B |
34.1562090 |
-114.0332950 |
WGS 84 |
0.138 |
0.002 |
Sample ID |
Latitude GE |
Longitude GE |
Datum |
Cu % |
Au ppm |
|
|
|
|
Cu-OG62 |
Au-ICP22 |
PM-22-021 |
34.1561100 |
-114.0336040 |
WGS 84 |
0.028 |
<0.001 |
PM-22-022 |
34.1541120 |
-114.0306000 |
WGS 84 |
1.535 |
0.004 |
PM-22-023 |
34.1540840 |
-114.0304670 |
WGS 84 |
0.808 |
0.004 |
PM-22-024 |
34.1546940 |
-114.0353480 |
WGS 84 |
0.433 |
0.008 |
PM-22-025 |
34.1547850 |
-114.0361820 |
WGS 84 |
9.95 |
0.31 |
PM-22-026 |
34.1543770 |
-114.0362510 |
WGS 84 |
2.77 |
0.131 |
PM-22-027 |
34.1539160 |
-114.0373920 |
WGS 84 |
1.105 |
0.082 |
PM-22-028 |
34.1546710 |
-114.0383680 |
WGS 84 |
2.39 |
0.036 |
PM-22-029 |
34.1537670 |
-114.0357470 |
WGS 84 |
1.485 |
0.023 |
PM-22-030 |
34.1538330 |
-114.0360200 |
WGS 84 |
0.021 |
0.004 |
PM-22-031 |
34.1519320 |
-114.0299720 |
WGS 84 |
0.649 |
0.013 |
PM-22-032 |
34.1517100 |
-114.0287380 |
WGS 84 |
0.325 |
0.009 |
PM-22-033 |
34.1525360 |
-114.0295430 |
WGS 84 |
0.041 |
0.005 |
PM-22-034 |
34.1527320 |
-114.0288620 |
WGS 84 |
1.525 |
0.015 |
PM-22-035 |
34.1519060 |
-114.0262260 |
WGS 84 |
1.7 |
0.019 |
PM-22-036 |
34.1522570 |
-114.0249280 |
WGS 84 |
8.22 |
0.259 |
PM-22-037 |
34.1543120 |
-114.0383660 |
WGS 84 |
1.405 |
0.046 |
PM-22-038 |
34.1543210 |
-114.0382950 |
WGS 84 |
1.765 |
0.089 |
PM-22-039 |
34.1551250 |
-114.0382960 |
WGS 84 |
0.755 |
0.03 |
PM-22-040 |
34.1438070 |
-114.0378980 |
WGS 84 |
0.071 |
0.001 |
PM-22-040A |
34.1438070 |
-114.0378980 |
WGS 84 |
0.002 |
2.43 |
PM-22-040B |
34.1438070 |
-114.0378980 |
WGS 84 |
<0.001 |
0.006 |
PM-22-041 |
34.1439010 |
-114.0380060 |
WGS 84 |
0.081 |
0.004 |
PM-22-042 |
34.1439060 |
-114.0380000 |
WGS 84 |
4.94 |
0.031 |
PM-22-043 |
34.1439120 |
-114.0379740 |
WGS 84 |
0.599 |
0.003 |
PM-22-044 |
34.1439020 |
-114.0379720 |
WGS 84 |
0.346 |
0.005 |
PM-22-045 |
34.1439090 |
-114.0379890 |
WGS 84 |
2.85 |
0.022 |
PM-22-046 |
34.1441570 |
-114.0389650 |
WGS 84 |
0.189 |
<0.001 |
PM-22-047 |
34.1428910 |
-114.0390220 |
WGS 84 |
0.839 |
0.002 |
PM-22-048 |
34.1429410 |
-114.0387400 |
WGS 84 |
1.475 |
0.141 |
PM-22-049 |
34.1429220 |
-114.0389710 |
WGS 84 |
1.885 |
0.012 |
PM-22-050 |
34.1430520 |
-114.0387630 |
WGS 84 |
356 |
0.004 |
PM-22-051 |
34.1433130 |
-114.0384600 |
WGS 84 |
13.15 |
>10.0 |
PM-22-052 |
34.1458880 |
-114.0366150 |
WGS 84 |
4.48 |
0.007 |
PM-22-053 |
34.1458910 |
-114.0366220 |
WGS 84 |
0.975 |
0.014 |
PM-22-054 |
34.1467790 |
-114.0362570 |
WGS 84 |
0.135 |
0.003 |
PM-22-055 |
34.1466270 |
-114.0357600 |
WGS 84 |
3.17 |
0.019 |
PM-22-056 |
34.1465940 |
-114.0357170 |
WGS 84 |
4.55 |
0.027 |
PM-22-057 |
34.1465370 |
-114.0359940 |
WGS 84 |
3.28 |
0.071 |
PM-22-058 |
34.1463580 |
-114.0361500 |
WGS 84 |
4.98 |
0.046 |
PM-22-059 |
34.1455540 |
-114.0355360 |
WGS 84 |
0.217 |
0.003 |
PM-22-060 |
34.1455340 |
-114.0349600 |
WGS 84 |
1.53 |
0.022 |
PM-22-060A |
34.1455340 |
-114.0349600 |
WGS 84 |
0.217 |
0.006 |
Sample ID |
Latitude GE |
Longitude GE |
Datum |
Cu % |
Au ppm |
|
|
|
|
Cu-OG62 |
Au-ICP22 |
PM-22-060B |
34.1455340 |
-114.0349600 |
WGS 84 |
1.46 |
0.031 |
PM-22-061 |
34.1421980 |
-114.0339290 |
WGS 84 |
0.014 |
0.009 |
PM-22-062 |
34.1440790 |
-114.0346730 |
WGS 84 |
0.001 |
0.005 |
PM-22-063 |
34.1440550 |
-114.0346640 |
WGS 84 |
0.009 |
0.012 |
PM-22-064 |
34.1450820 |
-114.0340850 |
WGS 84 |
2.44 |
0.059 |
PM-22-065 |
34.1466260 |
-114.0357470 |
WGS 84 |
0.187 |
0.004 |
PM-22-066 |
34.1492670 |
-114.0348480 |
WGS 84 |
1.255 |
0.004 |
PM-22-067 |
34.1491660 |
-114.0349610 |
WGS 84 |
1.26 |
0.012 |
PM-22-068 |
34.1469080 |
-114.0318630 |
WGS 84 |
0.516 |
0.01 |
PM-22-069 |
34.1468120 |
-114.0318690 |
WGS 84 |
0.451 |
0.061 |
PM-22-070 |
34.1467610 |
-114.0319090 |
WGS 84 |
0.796 |
0.014 |
PM-22-071 |
34.1477050 |
-114.0322690 |
WGS 84 |
1.275 |
0.007 |
PM-22-072 |
34.1471970 |
-114.0326490 |
WGS 84 |
0.683 |
0.043 |
PM-22-073 |
34.1473550 |
-114.0325680 |
WGS 84 |
1.13 |
0.011 |
PM-22-074 |
34.1465220 |
-114.0318840 |
WGS 84 |
0.345 |
0.016 |
PM-22-075 |
34.1466700 |
-114.0320770 |
WGS 84 |
0.962 |
0.026 |
PM-22-076 |
34.1463580 |
-114.0324160 |
WGS 84 |
0.397 |
0.008 |
PM-22-077 |
34.1499330 |
-114.0277840 |
WGS 84 |
0.397 |
0.013 |
PM-22-078 |
34.1498060 |
-114.0277880 |
WGS 84 |
0.026 |
0.007 |
PM-22-079 |
34.1504370 |
-114.0286390 |
WGS 84 |
1.975 |
0.049 |
PM-22-080 |
34.1497020 |
-114.0271700 |
WGS 84 |
0.003 |
0.005 |
PM-22-080A |
34.1497020 |
-114.0271700 |
WGS 84 |
0.002 |
2.52 |
PM-22-080B |
34.1497020 |
-114.0271700 |
WGS 84 |
<0.001 |
0.006 |
PM-22-081 |
34.1469380 |
-114.0248090 |
WGS 84 |
1.755 |
0.016 |
PM-22-082 |
34.1482860 |
-114.0241650 |
WGS 84 |
0.105 |
0.003 |
PM-22-083 |
34.1485570 |
-114.0245500 |
WGS 84 |
0.541 |
0.007 |
PM-22-084 |
34.1408750 |
-114.0219580 |
WGS 84 |
1.25 |
0.005 |
PM-22-085 |
34.1438690 |
-114.0228850 |
WGS 84 |
0.001 |
0.137 |
PM-22-086 |
34.1392850 |
-114.0245390 |
WGS 84 |
0.007 |
0.004 |
PM-22-087 |
34.1414830 |
-114.0259010 |
WGS 84 |
0.079 |
0.005 |
PM-22-088 |
34.1369120 |
-114.0317570 |
WGS 84 |
0.001 |
0.028 |
PM-22-089 |
34.1372710 |
-114.0310890 |
WGS 84 |
0.002 |
0.013 |
PM-22-090 |
34.1402060 |
-114.0365500 |
WGS 84 |
0.001 |
0.011 |
PM-22-091 |
34.1386080 |
-114.0145430 |
WGS 84 |
1.075 |
0.008 |
PM-22-092 |
34.1388540 |
-114.0143790 |
WGS 84 |
0.062 |
0.01 |
PM-22-093 |
34.1389880 |
-114.0144290 |
WGS 84 |
0.070 |
0.006 |
PM-22-094 |
34.1388600 |
-114.0145460 |
WGS 84 |
0.921 |
0.011 |
PM-22-095 |
34.1405400 |
-114.0155590 |
WGS 84 |
1.18 |
0.004 |
PM-22-096 |
34.1404100 |
-114.0155300 |
WGS 84 |
2.12 |
0.006 |
PM-22-097 |
34.1403990 |
-114.0155180 |
WGS 84 |
0.065 |
0.002 |
PM-22-098 |
34.1395380 |
-114.0184690 |
WGS 84 |
0.548 |
0.003 |
PM-22-099 |
34.1395580 |
-114.0183440 |
WGS 84 |
0.026 |
0.004 |
PM-22-100 |
34.1395470 |
-114.0183400 |
WGS 84 |
0.219 |
0.004 |
Sample ID |
Latitude GE |
Longitude GE |
Datum |
Cu % |
Au ppm |
|
|
|
|
Cu-OG62 |
Au-ICP22 |
PM-22-100A |
34.1395470 |
-114.0183400 |
WGS 84 |
0.141 |
0.015 |
PM-22-100B |
34.1395470 |
-114.0183400 |
WGS 84 |
<0.001 |
0.006 |
PM-22-101 |
34.1395490 |
-114.0181190 |
WGS 84 |
0.002 |
0.014 |
PM-22-102 |
34.1396320 |
-114.0182590 |
WGS 84 |
0.624 |
0.019 |
PM-22-103 |
34.1396300 |
-114.0181840 |
WGS 84 |
0.005 |
0.004 |
PM-22-104 |
34.1398660 |
-114.0176240 |
WGS 84 |
0.001 |
0.005 |
|
|
|
|
|
|
PM-22-105 |
34.1394800 |
-114.0169200 |
WGS 84 |
<0.001 |
0.007 |
PM-22-106 |
34.1427040 |
-114.0195940 |
WGS 84 |
<0.001 |
0.003 |