EV Resources (ASX: EVR) has advanced all major workstreams across its Mexico antimony hub, with geophysical surveys underway at Los Lirios, and the maiden drilling campaign progressing and refurbishment of the Tecomatlán processing plant on track for second half 2026 readiness.
The program has moved onto several fronts at once, with 11 diamond drill holes completed at the Lirios 1 prospect, the rig advancing to Hormiguero, and a controlled-source-audio-frequency magnetotellurics (CSAMT) and ground magnetics campaign beginning across high-priority target areas.
At the same time, EV Resources has uncovered a previously unrecognised shallow vein at Lirios 1 and started a five-week grinding circuit refurbishment program at Tecomatlán.
Tecomatlán sits 50km from Los Lirios, and forms the centrepiece of EVR’s near-term production strategy.
Geophysics Expands Los Lirios Targeting
EV Resources has started a 13-line-kilometre CSAMT survey, comprising 5km at Lirios 1 and 8km across the Hormiguero and Lirios 2 areas, alongside a ground magnetics survey over Lirios 1 to define the structural controls on the hydrothermal system.
The survey covers about 1.3km of strike along the regional Lirios Fault Zone (LFZ), which extends for at least 6km and is viewed as a key control on antimony mineralisation within the broader system.
The work is designed to test the responsiveness of mineralisation to geophysics and—when combined with drilling completed to date—establish a geophysical fingerprint for antimony mineralisation at Los Lirios.
That dataset is intended to sharpen immediate targeting at Lirios 1 and Lirios 2, as well as provide a scalable exploration tool across the wider property as EV Resources works toward a maiden JORC mineral resource estimate in the third quarter of calendar 2026.
The broader opportunity remains large, with more than 90% of the project area unexplored and nearly 5km of the Lirios Fault Zone still untested in detail alongside multiple north-south fault systems beyond the main structure.
‘San Miguel’ Adds Near-Surface Upside
The current campaign at Lirios 1 has completed 11 holes in the first systematic drill program at Los Lirios, with core logging, cutting and sampling continuing at the company’s dedicated facilities while assays are pending.
Initial geological observations are testing carbonate replacement deposit horizons and the potential for vertical conduit structures, both of which carry implications for the geometry and volume of the deposit.
The drilling is following up a system that has already returned channel samples of up to 30.2% antimony at surface and metallurgical test work showing recovery above 90% through gravity processing and 99% in initial flotation tests.
A new near-surface vein named “San Miguel” has also emerged beside Pit 5 at Lirios 1 after excavation exposed a 2m-wide structure showing visible antimony oxide mineralisation in an area with no prior historical exploitation or identification.
Handheld XRF readings from the exposed vein returned corrected antimony values ranging from 0.04% to 3.05%, and five channel samples from San Miguel have been sent to CHEMEX in Zacatecas for formal assay, with pulps due to go to ALS Vancouver for verification.
Tecomatlán Keeps Production Timeline Intact
The Tecomatlán processing plant remains central to EV Resources’ near-term production plan because it provides a gravity-based antimony concentrator that avoids the need to build new processing infrastructure from scratch.
Refurbishment has started on a five-week schedule to commission the grinding circuit, with steel formwork and frame assembly underway, and the electrical circuitry and 440-volt backbone being assembled for installation as the plant tracks toward operational readiness in the second half of 2026.
That timeline underpins a strategy to process ore sourced from artisanal miners while Los Lirios advances, giving EV Resources a lower-capital path toward first antimony production in North America.
Upcoming catalysts include geophysics results and interpretation, plant progress updates, Lirios 1 drilling results, and third-party supply agreements, while the next steps also include Nevada soil sampling and the start of a US government agency engagement plan.
Chief executive officer Mike Brown said the company would use the data collected to calibrate results for immediate use in drill targeting.
“With nearly 5km of the highly prospective LFZ still to be tested in any detail outside of the current drilling prospects, as well as 90% of the property unexplored, this could unlock an extremely efficient and useful tool for drill targeting and antimony discovery at [Los] Lirios,” he added.
