EV Resources Confirms 25.2% Sb Antimony Grades at Los Lirios

Underground Channel Sampling Delivers Standout Antimony Grades up to 25.2% Sb at Los Lirios

EV Resources Ltd (ASX: EVR) has reported high-grade underground channel sampling results from the Los Lirios Antimony Project in Mexico, confirming very shallow, continuous antimony mineralisation within a strata-bound Carbonate Replacement Deposit (CRD) horizon. EV Resources Los Lirios antimony grades up to 25.2% Sb have now been confirmed across multiple historical workings, with grades reported up to 25.2% Sb over 0.9 metres and multiple channels above 10% Sb across four World War II-era adits and one pit exposure.

According to the ASX announcement dated 30 June 2026, these results are considered by EV Resources Ltd to materially de-risk the geological model, provide a structural vectoring tool for Phase 2 drilling, and support work already underway towards a maiden JORC Mineral Resource Estimate (MRE) targeted for Q4 CY2026.

"These results give us confirmation of the relationship between feeder structures and high-grade antimony, which is consistently hosted within the CRD unit proximal to the structures. Grades up to 25.2% Sb confirm the quality of this system, and just as importantly, we have confirmed structures as a tool to vector towards higher grades within the CRD as we move to Phase 2 drilling. At a time when Western governments and defence industries are scrambling for antimony outside of China, every metre of high-grade continuity we confirm at Los Lirios strengthens our position to help solve the supply gap," said Mike Brown, Managing Director and CEO of EV Resources Ltd.

EV Resources Ltd reports that a total of 54 channel samples were collected across four historical underground workings in the Lirios 1 block: Mina San Rafael, Mina Guadalupana, Mina Linda Vista and Mina San Pedro. Sampling was designed to be perpendicular to the mineralised faces to approximate true widths.

What Was Found and Why It Matters

The channel sampling confirms:

• A continuous, shallow CRD horizon (San José) with high-grade antimony.
• A consistent stratigraphic position, hosted in a silicified limestone replacement unit beneath a gypsum cap.
• A clear relationship between high grades and proximity to feeder structures (faults and vein networks).
• Sampling grades that EV Resources Ltd considers more representative than early diamond drilling in this style of brittle, fine-grained stibnite mineralisation.

For investors, the implications highlighted by the announcement are:

• The CRD unit appears laterally continuous across multiple underground workings.
• High grades are reported over true widths that may support future mining studies, subject to further work.
• The validated geological model provides a clearer basis for targeting Phase 2 drilling and future resource definition.

Breaking Down the Results: Four Adits and One Pit

Mina Guadalupana – Continuous Replacement Body with Very High Grades

At Mina Guadalupana, the underground workings follow the San José replacement body for approximately 38 to 40 metres of mapped development.

Geological setting

• Mineralisation occurs in a heavily silicified, porous, dark grey to black limestone.
• The unit dips 10° to 20° to the southeast.
• True widths of the mineralised zone range from 0.95 metres to 2.5 metres.
• Antimony is present as semi-massive stibnite, with extensive oxide overprint (cervantite and stibiconite).

Selected channel results from Guadalupana

These intercepts, located within a consistent stratabound unit, support EV Resources Ltd's interpretation of a laterally continuous, high-grade CRD horizon.

Mina San Pedro – Convergence of Fault Vein and CRD Blanket

Mina San Pedro is situated in the south-western part of the property. The adit tracks approximately 32 metres of underground development and is located where a vertical fault vein intersects the relatively flat-lying CRD unit.

Geological setting

• The mine exposes a structurally controlled, strata-bound replacement body.
• Strong to moderate silicification is reported directly below a sharp contact with an upper gypsum cap.
• This contact supports the interpretation of a gypsum cap acting as a seal to mineralising fluids.

Selected channel results from San Pedro

These results provide further support for the link between high-grade antimony, the CRD unit and proximity to structural conduits.

Mina Linda Vista – High-Grade Feeder Structure Mineralisation

The Linda Vista adit is a shorter 12 metre accessible drive that tests the northern margin of the system.

Geological setting

• Mapping has identified a high-grade chemical trap developed at the contact between:
  • an upper, less permeable gypsum layer; and
  • lower, organic-rich black limestones.

• This interface appears to be particularly favourable for focusing mineralising fluids.

The announcement notes that Linda Vista has returned some of the highest grades to date from feeder structures at Los Lirios.

Selected channel results from Linda Vista

These results highlight the importance of the structural-lithological interface and indicate that structures themselves may host very high antimony grades.

Mina San Rafael – Mixed Structural and Stratiform Mineralisation

San Rafael presents a combination of structural fault-veining and stratiform replacement within the CRD horizon.

Geological setting

• Mineralised reverse faults sit adjacent to antimony-bearing CRD units.
• These faults are interpreted to have acted as feeder structures, transporting mineralising fluids into the carbonate sequence.
• Similar structures are observed in nearby pits, including Pit 1 and Pit 5.

Selected channel results from San Rafael

These results are consistent with the broader model of a feeder-controlled CRD system, with high-grade mineralisation close to structural zones.

Pit 1 – Highest Single Antimony Grade

Outside the underground workings, one of the most outstanding channel results was obtained from a pit wall at Pit 1, within the San José CRD horizon.

Key pit result

According to EV Resources Ltd, this is the highest antimony grade reported so far at Los Lirios, reinforcing the high-grade character of the system.

Understanding the Geological Model: What Is a Carbonate Replacement Deposit (CRD)?

The announcement repeatedly refers to Los Lirios as a Carbonate Replacement Deposit (CRD) system. For investors without a geology background, it may be useful to break this down in simple terms.

What Is a CRD?

A Carbonate Replacement Deposit is a type of mineral deposit that forms when hot, mineral-rich fluids move through the Earth's crust and react with carbonate rocks, such as limestone or dolomite.

Key points:

• The fluids do not simply fill cracks; they chemically replace parts of the rock.
• This replacement can occur over large, stratabound (layer-controlled) areas.
• CRDs often contain metals such as lead, zinc, silver and, in this case, antimony.

At Los Lirios:

• The host rocks are limestone and gypsum (evaporite) units.
• Antimony occurs primarily as stibnite (Sb₂S₃), with secondary oxides cervantite and stibiconite where weathering has occurred.
• The main mineralised unit is a silicified, manganese-rich limestone that has been replaced by antimony-bearing minerals.

How Does the Los Lirios CRD System Work?

According to EV Resources Ltd's technical description:

1. Feeder structures
   Near-vertical faults and fracture zones act as conduits for hydrothermal fluids carrying dissolved antimony.

2. Reactive limestone horizon (San José CRD unit)
   When these fluids intersect the favourable limestone layer, they spread out along the bedding plane and chemically replace the rock, forming a flat-lying or gently dipping mineralised body.

3. Gypsum cap acting as a seal
   An overlying gypsum layer is interpreted to have limited vertical movement of the fluids. This helped to trap fluids in the limestone horizon and encouraged lateral replacement, giving the system a "cap and seal" style geometry.

4. Grade distribution
   The intensity of silicification and antimony mineralisation is typically strongest close to feeder structures and gradually decreases away from them. Channel samples show that, while local grade variations occur, alteration and mineralisation are consistent across the unit at the larger scale.

Why Does This CRD Model Matter for Investors?

For investors looking at EV Resources Ltd, several points from this model are relevant:

• Repeatable target horizon
  The mineralised CRD unit consistently sits beneath a gypsum cap, providing a clear stratigraphic marker for drilling.

• Potential lateral extent
  CRD systems can extend laterally along favourable units. The continuity observed across four adits supports the potential for broader extents, subject to further exploration.

• Drill targeting efficiency
  With feeder structures acting as "vectoring tools", future drilling can be focused on zones near structural intersections with the CRD horizon, which may improve the likelihood of intersecting higher grades.

Key Geological Terms Explained

Methodology: Why Channel Sampling Is Important at Los Lirios

The ASX announcement places strong emphasis on the sampling method and how it relates to grade reliability.

How Channel Sampling Was Carried Out

EV Resources Ltd describes the following approach:

• Channels were cut perpendicular to mineralised veins or bedding to approximate true widths.
• Sample intervals were typically 30 cm to 100 cm long, 10 cm wide and 3 cm deep.
• A diamond-bladed handheld motorised saw was used on cleaned rock faces.
• Sample weights ranged from 2.5 kg to 5.5 kg.
• All 54 samples were collected from historical underground workings, pits and trench exposures.

Samples were then sent to CHEMEX (Zacatecas) for preparation and to ALS (Vancouver) for analysis using ICP-AES and, where required, lithium borate fusion XRF to improve accuracy on very high-grade stibnite-rich samples. A QA/QC program with blanks, duplicates and standards was applied throughout.

Why EV Resources Ltd Considers This Methodology an Advantage

The company notes that antimony at Los Lirios is present predominantly as brittle, fine-grained stibnite. In conventional diamond drilling:

• Water is used to cool the drill bit and remove rock cuttings.
• In brittle, high-grade zones, fine stibnite particles can be washed away with the drilling fluids.
• This may lead to underestimation of true grades in drill core, especially in fractured near-surface material.

By contrast, channel sampling removes mineralised material directly from the face with no drilling fluids involved, meaning fine-grained, high-grade material remains within the sampled volume. EV Resources Ltd states that the recovery and representativity of these channel samples is considered as good as, or better than, diamond drilling for this specific environment. These data are consequently expected to provide a robust baseline for future resource modelling.

Antimony Market and Project Context

The announcement places the Los Lirios results within the broader context of global antimony supply. Key points referenced include:

• Antimony is classified as a critical mineral by the United States, European Union and Australia.
• It is used in energy storage, battery technology, flame retardants, defence applications and other advanced materials.
• Current supply is highly concentrated, with China dominating global production.

EV Resources Ltd positions itself as a critical minerals exploration and development company focused on antimony, with several key assets:

• Los Lirios Antimony Project (Mexico) – flagship high-grade CRD system, 50 km from the company's Tecomatlán processing plant.
• Tecomatlán Processing Plant (Mexico) – refurbishment and installation of a gravitational concentrator circuit is ongoing, initially for third-party ore.
• US antimony projects (Dollar and Milton, Nevada) – 100%-owned projects aligned with antimony's critical mineral status.

This broader portfolio indicates that EV Resources Ltd is targeting a position in the North American and allied antimony supply chains, with Los Lirios as a key exploration and potential development asset.

Next Steps: Towards Phase 2 Drilling and a Maiden JORC Resource

The ASX announcement outlines three main workstreams that will follow from the channel sampling program.

Phase 2 drilling is expected by EV Resources Ltd to test the concept that the highest grades are located near ENE and NNW trending feeder structures within the San José horizon, a pattern strongly supported by the channel data

Ready to Learn More About EV Resources' High-Grade Antimony Discovery?

With standout channel sampling results of up to 25.2% Sb confirmed at the Los Lirios Antimony Project, a validated geological model, and a maiden JORC Mineral Resource Estimate targeted for Q4 CY2026, EV Resources Ltd (ASX: EVR) is advancing rapidly through a pivotal stage of project development. To learn more about the company, its flagship Mexican antimony project, and its broader North American critical minerals portfolio, visit evresources.com.au.