EV Resources Limited announced that final results for surface sampling along the extent of the outcropping mineralised breccia zone at the Company's Don Enrique Project, Peru, have been received. Results demonstrate 550 metre strike extent along the Main Breccia zone over widths of up to 18 metres. EVR announced results from an underground sampling program in a release dated 22nd November 20221, where continuous channel samples returned values to 16m at 0.63% Cu and 84ppm Ag, including a zone of 6m at 1.20% Cu and 166ppm Ag.

EV Resources undertook a geological sampling and mapping campaign along outcropping surface breccia zones and quartz veining as a continuation of the underground sampling assessment. Sampling comprised continuous channel samples of 5cm width incised with a rock saw and sampled over two metre composite intervals. An initial 94 samples were collected underground and a further 351 samples from surface outcrop from 98 channels of varying length, dependent on the width of mineralised breccia and quartz zones.

The Main Breccia structure has been mapped from intermittent surface outcrop for an extent of at least 800 metres, and the sub-parallel structure to the east is approximately 1000 metres long and between 5 and 10 metres wide. The width of the main quartz breccia zone varies along the strike extent, with sampling widths of up to 20 metres. In the 90m extent of underground development, the main zone has a width of between 15 to 20 metres.

Concurrently, a ground magnetic geophysical survey was also conducted for which data is pending. EVR's results demonstrate continuity of copper-silver-zinc mineralisation where underground development permitted sampling. It appears that the underground development was driven into the halo of mineralisation alongside one of two primary parallel polymetallic breccia structures.

The structure exhibits a variety of quartz textures including milky white quartz, sinuous quartz, saccharoid veinlets, hyaline quartz, and textures such as dog-tooth, buck, and ribbon quartz. This suggests that several generations of silica deposition occurred. Copper mineralisation comprising chalcopyrite, traces of bornite, secondary copper such as malachite and azurite, and the local presence of covellite occurs as a dissemination in hydrothermal breccias, narrower quartz veins, and in a strongly silicified dacitic body.

Silver (Ag), molybdenum (Mo), zinc (Zn), and lead (Pb) mineralisation accompany the Cu mineralisation. Surface sampling was undertaken by initially methodically mapping surface outcrop, taking particular note of the mineralised breccia zones and associated quartz veining. Sampling was undertaken by cutting channels perpendicular to the mineralised zones.

The Main Breccia Zone (western zone) intermittently outcrops for 800 metres strike extent. Elevated copper (greater than 0.1% Cu) values occur over 550 metres of this zone, to a maximum channel result of 18m at 0.28% Cu and 64ppm Ag, with individual values to 1.4% Cu, 346ppm Ag. Sporadic values of up to 1.44ppm Au, 182ppm Mo, 0.54% Pb and 0.34% Zn were also returned.

The Eastern Breccia received less sampling attention, however returned encouraging channel results of 8m at 0.10% Cu, 4m at 0.21% Cu and individual values to 0.18% Cu, 34ppm Ag, 0.12ppm Au, 147ppm Mo, 0.31% Pb and 0.26% Zn. Further sampling is planned along the Eastern Zone, particularly the south-eastern extent of surface outcrop. An Induced Polarity (IP) geophysical survey is estimated to commence in the first week of April 2023, once the rainy and stormy season ends.

The IP survey will target the Main Breccia zone in the vicinity of the underground workings, where higher grade values across broader zones of mineralisation were encountered. Six east-west lines at 400 metre spacing covering 46.8 linear kilometres are planned to be completed in a 30 day program. EV Resources has developed a conceptual model for Don Enrique that suggests the possibility that the surface breccia structure is linked to a porphyry-type system at depth.

The conceptual geological model taken from a Geological Survey of Canada publication suggests a structural interpretation consistent with observations made to date for the Don Enrique Project and shows the spatial location and structural level where the Don Enrique breccia structures could be located, above a porphyry system at depth. Strongly anomalous values in Mo are reported at the entrance of the main adit, the northern extension of the vein breccia structure. The strong presence of Mo indicates a vector that suggests a possible link to a porphyry-type system at depth, to the north of the structure.

This will be better delineated by the IP geophysics program. A consulting team has commenced obtaining authorisation to conduct an initial exploration program for a ten hole, 2000m diamond drill hole program. This work will be undertaken once permits have been received by the Company.

Results from the recently completed ground magnetic survey and impending IP geophysics survey will be utilised to target drill holes. A community relations program has been established following local regulations, establishing agreements and cooperation plans and approaches with the communities within the area of direct influence. Constant contact has been maintained since July 2022 with the two local communities of Quero and Yauli.

EVR is pleased that the residents of the communities where the Don Enrique project is located have provided firm support to the Company and signed accords to provide support on agreed conditions which are monitored carefully for compliance. The cooperation program has included contributions to the community members/farmers, providing fertilizers to majority of the members of the Quero community.