Highlights

  • EV Resources has secured 100% ownership of the Don Enrique Copper-Silver Project in Peru.
  • The Company secured the remaining 50% stake in Minera Montserrat SAC for USD 150,000, gaining full ownership of the Don Enrique Project.
  • Geophysical surveys have identified a large underground mineralisation target extending up to 1.5 kilometres long and 750 metres wide.
  • Historic sampling has returned copper grades up to 3.22% copper (Cu) and 585 parts per million silver (Ag).
  • The project already holds approved environmental and drilling permits, positioning it as a “drill-ready” exploration asset.

EV Resources Ltd (ASX:EVR) shares closed flat at AUD 0.0090 on 11 March 2026, showing no price change during the session, today’s price movement coincided with the company’s latest announcement regarding the expansion of its copper-silver exploration project in Peru.

The company revealed it has completed the acquisition of the remaining 50% interest in Minera Montserrat SAC, giving it full ownership of the Don Enrique Copper-Silver Project. The move consolidates EV Resources’ position in the project and expands its exploration footprint in the region.

Full Ownership Strengthens Project Control

With the acquisition complete, EV Resources now intends to merge Minera Montserrat SAC with its wholly owned subsidiary Coripuquio S.A.C., which holds the nearby Estrella claim group.

The combination of these assets will result in a 2,684-hectare exploration area, covering the original Don Enrique licences and the adjacent Estrella claims. This consolidation creates a continuous 5.5-kilometre stretch of prospective mineral ground, which includes a large Induced Polarisation (IP) anomaly.

Induced Polarisation is a geophysical exploration technique used to identify mineral deposits underground by measuring how rocks respond to electrical currents. According to the company, the anomaly identified at the project could extend further northwest into the Estrella claims, increasing the potential exploration scale.

Managing Director and Chief Executive Officer Mike Brown said securing full ownership gives the company greater flexibility to develop the project and unlock its potential value.

Exploration Results Point to High-Grade Mineralisation

Historical exploration work at Don Enrique has indicated promising mineralisation.

Channel sampling conducted by the company confirmed copper grades of up to 3.22% Cu, while silver values reached 585 parts per million (ppm). Channel sampling is a technique where samples are taken along exposed rock surfaces to assess mineral concentrations.

Several notable results from previous work include:

  • 14 metres grading 0.75% copper
  • 16 metres grading 0.63% copper

Out of 108 samples collected during earlier programs, 28 samples returned copper grades above 0.30%, while 17 samples showed silver values exceeding 30 ppm.

Sampling conducted within historic underground exploration tunnels—known as adits—has also returned consistent copper, silver, and gold (Au) mineralisation across approximately 1.5 kilometres of strike length.

Geological observations suggest that copper grades may increase at deeper levels, which could indicate the presence of a porphyry system—a type of large mineral deposit that often hosts economically significant copper resources.

Project Positioned for First Drilling

Despite these encouraging signs, the Don Enrique project has never been drilled before, giving EV Resources a potential “first-mover advantage” in exploring the target.

The company has already completed several preparatory activities to advance the project toward drilling, including:

  • Geochemical sampling from historic underground workings
  • 28.8 kilometres of Induced Polarisation (IP) surveys
  • 46.8 kilometres of ground magnetic surveys
  • Approval of a DIA (Declaración de Impacto Ambiental – Environmental Impact Assessment) and drilling permits

Having environmental approvals and drill permits in place is considered a significant milestone, particularly in Peru, where permitting processes can be complex.

Strategic Focus and Next Steps

EV Resources paid USD 150,000 to acquire the remaining stake in Minera Montserrat SAC. With the consolidation completed, the company now controls a fully permitted and drill-ready project with multiple exploration targets.

While the project demonstrates strong potential for copper, silver, and gold, the company stated that its primary strategic focus remains on developing its critical minerals portfolio in North America, particularly within the antimony market.

Going forward, EV Resources plans to evaluate options that could maximise shareholder value while advancing exploration of the project’s porphyry and critical metal potential.

What This Means for Investors?

The move to full ownership gives EV Resources complete control over the Don Enrique project and expands its exploration footprint in Peru. The presence of a large geophysical anomaly, historic high-grade sampling results, and approved drilling permits positions the asset as a potentially significant exploration opportunity.

While the share price remained unchanged on the day of the announcement, investors may continue monitoring future developments, particularly as the company evaluates drilling plans and strategic pathways for the project

Frequently Asked Questions (FAQs)

  1. What did EV Resources announce on 11 March 2026?
    EV Resources announced it has acquired the remaining 50% interest in Minera Montserrat SAC, giving it 100% ownership of the Don Enrique Copper-Silver Project in Peru.
  2. What exploration results have been reported at the Don Enrique project?
    Historical sampling has returned copper grades up to 3.22% Cu and silver values up to 585 ppm, with several multi-metre intervals of copper mineralisation.
  3. Is the Don Enrique project ready for drilling?
    Yes. The project already holds environmental approval (DIA) and drilling permits, and exploration surveys have identified targets that the company describes as drill-ready.