Larvotto Resources (ASX:LRV) is testing for high-grade antimony and gold at the Hillgrove Project in New South Wales, via a diamond drilling program.
One drill rig is already operational at the Garibaldi prospect, while a second is expected to arrive soon and will be conducting follow-up drilling at the Bakers Creek prospect.
At Bakers Creek, drilling will target seven identified zones, with the potential to replicate previous gold results, including 31m @ 65.8 grams per tonne gold from 244m.
Larvotto, which has a market capitalisation of $165.22 million, says initial drilling is targeting advanced exploration and infill at both prospects with a view to increasing the total resource of the Hillgrove Project.
Managing Director Ron Heeks says the targets are the first of many near-mine targets the company is exploring to increase the overall resource within Hillgrove.
“The Bakers Creek drilling is particularly interesting with several distinct mineralised zones identified and targeted in this drilling program,” Heeks says.
“Just one of these zones produced the remarkable drill results from BKC015 which returned 31m @ 65.8g/t gold from 244m 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.”
The Hillgrove Project, covering 254km2, sits 23km east of Armidale, New South Wales. The Hillgrove area has seen mining for gold and antimony since 1857, with continuous antimony production for more than 30 years until 2002 when the price fell to an all-time low. Antimony has recently experienced a resurgence, with prices almost doubling over the past year.
Larvotto Resources is a mineral explorer focused primarily on gold, antimony, copper, and cobalt at its assets across Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Larvotto Resources
