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Stocks of the Hour: EV Resources, Venus Metals Corporation, St George Mining

EV Resources (ASX:EVR) announced the results from its first hole drilled at the high grade Parag copper-molybdenum project in Peru. The first hole at Parag has assayed 332 metres at 1.36% Copper equivalent (CuEq), with intersections including 44 metres at 2.18% grading. Assays are awaited on the remaining 144 metres of the hole which was drilled to a depth of 479 metres. Managing Director Hugh Callahan commented that “The high grade intersections substantiate Parag’s status as the Company’s flagship project. More importantly, delivering these high grades over the length of the intersections reported from near surface is very exciting as it supports our geological model and warrants further exploration and drilling”. Shares are trading 9.09 per cent lower at 1 cents.

Venus Metals Corporation Limited (ASX:VMC) announced that drilling at its Youanmi Lithium Project has confirmed a significant high grade lithium discovery at its Deep South prospect. The RC drilling programme tested areas with outcropping lithium-rich pegmatites and distinct soil geochemical anomalies in areas with shallow soil cover. Venus Managing Director Matthew Hogan commented: “These high-grade results from our maiden drilling campaign at Deep South Lithium Prospect pave the way for future exploration at this exciting prospect. Along with intersections of 24m @ 1.71% Lithium including 14m @ 2.54% Lithium, we’ve been pleasantly surprised by the tantalum enrichment within the pegmatites. With much of the observed mineralisation open along strike, we look forward to pursuing follow up drilling to define the scale of the opportunity at Deep South”. Shares are trading 11.24 per cent higher at 9.9 cents.

St George Mining Limited (ASX:SGQ) has announced assay results from the recent REE drill programme completed at their Destiny Project in the Eastern Goldfields region of Western Australia.
The drill programme has successfully confirmed further continuity of the clay-hosted Rare Earths discovery announced by St George in December 2023. St George Mining’s Executive Chairman, John Prineas commented: “We are very pleased with the results of our follow-up drilling programme which has significantly expanded the lateral continuity of the rare earths mineralisation footprint at Destiny. “The latest assay results confirm that the near-surface high-grade mineralisation is widespread and consistent in grades and thickness across the 15 sq km area tested by drilling to date. This is a very large footprint and – impressively – the mineralisation remains open in all directions. Shares are trading flat at 2.3 cents.