EV Resources Expands Antimony Portfolio with Milton Canyon Acquisition in the US

EV Resources (ASX: EVR) is moving quickly to integrate its US and Mexican critical mineral assets after acquiring the Milton Canyon antimony project in Nevada.

The company is developing a multi-asset strategy designed to deliver near-term production and long-term critical minerals security to support the US government’s aim to develop a domestic supply line of elements like antimony.

EV is already making strong progress at its flagship Los Lirios antimony project in Mexico, where it has already achieved encouraging trenching, mapping, and metallurgical results, and is advancing toward drilling and resource definition.

18 Historical Lode Claims

At Milton Canyon, the company is preparing to undertake confirmatory sampling and mapping of an area that features 18 lode claims covering historical mine workings.

The site contains multiple shafts up to 64 metres deep, along with adits and extensive shallow subsurface workings demonstrating wide mineralized vein systems that remain open along strike and depth, providing immediate exploration and near-term production potential.

With a background tracing back to early last century, Milton Canyon has approximately 30 tons of historical antimony production with ore shipped in 1939 averaging 40%.

EV has identified high-grade assays of as much as 20.77% antimony in stockpiles and 12.57% in the historical workings.

Antimony Supply Forefront

Non-executive chair Shane Menere said the Milton acquisition positions EV at the forefront of the US antimony supply response.

“Together, Milton and Dollar provide EVR with two high-grade US antimony assets positioned to support the US’ urgent need for secure supply of this critical mineral,” he said

“By linking production at Los Lirios with processing and development at Milton and Dollar in Nevada, EVR is creating a cross-border critical minerals strategy [that] positions the company to supply the US Department of Defense, Department of Energy, and downstream consumers seeking domestic and allied sources of antimony.”

EV is acquiring Milton Canyon for a cash consideration of $150,000, $350,000 of its shares, and a 2% net smelter return payable quarterly in arrears.

Dollar Project Acquisition

Earlier this month, EV announced it had acquired 100% of the historical Dollar antimony project in Nevada.

Dollar consist of eight unpatented mining claims totalling 160 acres, three adits, and a 30-foot inclined shaft that provides direct access for future exploration.

Historical assays from the site returned up to 40.63% antimony, with modern sampling confirming values up to 10,000 parts per million antimony alongside silver, lead, and copper credits.

The road-accessible project sits on the eastern slope of the Toiyabe Range, just 9km south of Military Metals’ Last Chance project, highlighting a developing antimony camp in close proximity to US defence installations and Nevada’s military testing ranges.