Larvotto Resources (ASX:LRV) will receive a $388,662 tax refund, under the Australian Government’s Research & Development (R&D) tax incentive scheme with AusIndustry.
The rebate recognises Larvotto’s ongoing metallurgical R&D program at the Hillgrove Antimony and Gold Project in New South Wales. The R&D program is designed to investigate recovery pathways for gold and antimony from two distinct sources including in-situ ore and legacy tailings material from TSF1.
Larvotto, which has a market capitalisation of $349.94 million, notes that tailings retreatment has been shown to be technically amenable, presenting an opportunity to boost overall metal production but also to contribute to environmental remediation by reducing the footprint of historical storage facilities.
Hillgrove – which hosts a resource estimate of 1.7 million ounces @ 7.4g/t of gold-equivalent.
The project is strategically situated 23km east of Armidale in northern New South Wales, close to major infrastructure including highways, rail links, and regional airports.
Larvotto Resources is focused on advancing its project portfolio in Australia. The company’s projects are considered prospective for gold, antimony, copper, and cobalt.
Write to Aaliyah Rogan at Mining.com.au
Images: Larvotto Resources
