EV Resources Limited announced 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. 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. 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.

The New Standard Iron Oxide-Copper-Gold (IOCG) grassroots exploration project is located approximately 20 km east of Parker, La Paz County, Arizona, USA. 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.

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.