Larvotto eyes new targets at Mt Isa

Larvotto Resources (ASX:LRV) has uncovered multiple new drill targets via an induced polarisation (IP) survey undertaken at the Mt Isa Copper-Gold-Cobalt Project in Queensland. 

The $13.19 million market capitalisation company reports the ‘strong’ conductors identified are namely the Ballara Saddle, Bass, and Portal Creek targets, with the ‘highest’ chargeability exhibited at Portal Creek. 

Managing Director Ron Heeks says: “The survey tested the validity and usability of this type of geophysical survey, commonly used for iron oxide copper gold (IOCG) systems, and we are delighted with the outcomes achieved with promising targets identified.

The targets generated exhibit significant IP anomalism and excellent chargeability and have created some tantalising targets.”

Follow-up work on these projects will be carried out to better define and confirm the presence of copper mineralisation. 

Larvotto says the company is particularly interested in the eastern anomaly at Portal Creek, which is coincident with the response from the previous versatile time-domain electromagnetic (VTEM) survey. 

A short, closely spaced soil sampling program will be undertaken, followed by a series of drillholes targeting the conductors and VTEM responses for iron oxide copper gold (IOCG) potential. 

Meanwhile, at Ballara Saddle, follow-up work will include mapping, extending the soil anomaly, and then a final drill design using all datasets in search of copper mineralisation, 

Drilling is also planned to be conducted at the Bass target. 

The Mt Isa project lies in northwest Queensland and covers a 900km-square area. 

Larvotto Resources is an Australian explorer and developer focused on discovering copper, gold, antimony, cobalt, lithium, and platinum group elements. 

As of 31 December 2023, the company had $2.428 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Images: Larvotto Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.