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Larvotto Resources Drill Testing Hillgrove for Antimony and High-Grade Gold

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THE DRILL SERGEANT: Larvotto Resources (ASX: LRV) has commenced its latest round of drilling at the company’s 100 per cent-owned Hillgrove project in New South Wales.

Larvotto Resources already has the first diamond drill rig turning, with a second drill rig expected to arrive soon.

The drilling kicked off at the Garibaldi target and will be followed by the second drill rig to continue with follow-up drilling at the Bakers Creek target.

Drilling is anticipated to continue at Hillgrove for the foreseeable future.

The company has recently completed a RC drill program at Clarks Gully and is currently awaiting laboratory results.

The RC rig is drilling pre-collars at Garibaldi as the diamond rig readies to drill its first hole.

“Larvotto is very excited that the next phase of our extensive drilling program has commenced at Hillgrove,” Larvotto Resources managing director Ron Heeks said in the company’s ASX announcement.

“The planned drill programs will follow up on the significant drilling successes from earlier this year.

“The drilling at Garibaldi is targeting the infill and extension of the existing JORC 2012 Resource Estimate of 2,346,000 tonnes at 6.6 grams per tonne gold equivalent by focusing on high-grade gold-antimony mineralisation.

“The Bakers Creek drilling is particularly interesting with several distinct mineralised zones identified and targeted in this drilling program.

“Just one of these zones produced the remarkable drill result from BKC015 which returned 31 metres at 65.8g/t gold from 244 metres which was announced in May from the initial Bakers Creek drilling.

“We are very optimistic that these extraordinary results can be replicated from any of these seven mineralised zones.

“These targets are the first of many near mine drilling targets Larvotto will be exploring to increase the overall Mineral Resources within the Hillgrove Mineral Field.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Larvotto Resources Commences Hillgrove Exploration Drilling

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THE DRILL SERGEANT: Larvotto Resources (ASX: LRV) is all cashed up and ready to commence exploration drilling at the company’s Hillgrove gold-antimony project in New South Wales.

Larvotto Resources will pay for the drilling using funds from a recently completed $5 million equity raising, which it expects to supplement with a further $1 million via a share purchase plan.

The drilling is to focus on the project’s Clarks Gully deposit, a steep dipping zone of mineralisation associated with both high-grade gold and antimony that remains open in all directions.

Clarks Gully mineralisation is currently defined from surface to a depth of 200m with a current Measure and Indicated Mineral Resource Estimate of 266,000 tonnes at 3.8 per cent antimony and 2 grams per tonne gold (8.4 g/t gold equivalent).

The drill program aims to extend previous drilling to test the strike and depth extent of the mineralised zone that is expected to increase Larvotto’s confidence ahead of Ore Reserve estimation studies.

Larvotto’s exploration strategy is to rapidly increase the Hillgrove Resource base, while converting the current Measured and Indicated MRE into JORC Ore Reserves.

“The Clarks Gully deposit extends from surface and remains open at depth,” Larvotto Resources managing director Ron Heeks said in the company’s ASX announcement.

“It currently has a M+I Mineral Resource Estimate (MRE) with high-grade ore suited to both open pit and underground extraction.

“Favourably, it has potential for early-stage development which could supplement production from the already developed Metz underground mining area to the south.

“Significantly, the mineralisation is open in all directions and there is great potential for it to extend to depth as all of the other deposits in the field do.

“Soil geochemistry strongly indicates that the mineralisation extends to the south of the previously mined open pit and initial testing of the area is included as part of this program.

“The geochemical anomaly is of the same order as that over the current deposit and has the potential to significantly increase the overall resource at Clarks Gully.

“We look forward to demonstrating the current mineralisation extends in all directions and continues to contain significant mineralisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE