In March, a maiden diamond drilling program at Parag produced impressive copper figures, in addition to high-grade molybdenum results, close to surface. Assay highlights returned an 18m hit at a peak grade of 1.7 per cent copper and 0.4 per cent molybdenum from just 11m, contained within a wider 32m section going 1.2 per cent copper and 0.4 per cent molybdenum from only 3m below the surface.

Following the company’s initial program to define the volume and economic potential of the mineralised breccia system, it will look to its drilling to do the same outside that area and to search at depth for the presence of a bigger porphyry-type system.

EV also plans to drill a 2000m program at its Don Enrique project in the second half of this year. The company recently picked up an additional 1000 hectares at the exploration license after identifying a chargeability high up to 1500m in length and some 300m in width.

Importantly, the chargeability high increases in strength at depth and dips to the west into the new tenements.

The main breccia zone at Don Enrique shows elevated copper results for a strike length of about 550m. A recent sampling campaign at the site showed that 28 of the 108 samples returned copper values of more than 0.3 per cent and reached an impressive peak of 3.22 per cent.

EV is also now reviewing the silver content of previously reported drillholes, with the precious metal’s prices recently rising to US$31.06 (AU$46.08) an ounce, presenting it as a more valuable credit.

The company looks to be onto a considerable copper-moly system in the mountains of Peru. Following a recent return to pricing prominence for copper to near all-time highs and the quietly impressive run for molybdenum, the emergence of a big porphyry system could put a stronger market focus on the $7.27 million market-capped explorer.

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