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
E: adrian@evresources.com.au
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