Larvotto Resources (ASX:LRV) has begun a 3,100m reverse circulation (RC) drill program targeting multiple copper, gold, and cobalt systems at the Mt Isa Project in Queensland.
The $10.97 million market capitalisation company says the drilling will target the Yamamilla and Whitehorse prospects, which were identified from the company’s regional geochemistry and field mapping program.
Commenting on drilling, Larvotto Resources Managing Director Ron Heeks says: “The Yamamilla prospect is 1 of our lead areas, with over 10km of mineralised strike that contains a well-defined geochemical and geophysical anomaly.
The majority of holes from the very limited historic drilling back in 2012 were mineralised, but, significantly, most did not reach the planned target due to drilling issues at the time.
“The Yamamilla prospect is 1 of our lead areas, with over 10km of mineralised strike that contains a well-defined geochemical and geophysical anomaly”
Whitehorse has been identified from Larvotto’s recent fieldwork and has produced extremely high-grade rock chips over 2,300m of strike. We look forward to commencing the initial drilling of very promising targets and reporting our results to the market in due course.”
As part of its drilling program, Larvotto plans to drill for 2,500m at the Yamamilla prospect. The company says even though historical drilling in the area was limited because of the issues faced at the time, the majority of the holes drilled still produced ‘significant’ hits from mineralisation adjacent to the target zone.
Larvotto says it will use a drill rig that has the ability to withstand the issues faced by historical explorers in the area.
Meanwhile, at Whitehorse, the company has identified a zone spanning more than 2,300m with elevated copper running from the Whitehorse prospect northwest to the historical workings of the IXL prospect.
Larvotto Resources is an Australian exploration company focused on discovering multiple in-demand commodities including copper, gold, cobalt, platinum group elements, and lithium.
As of 31 March 2023, the company had $5.239 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Larvotto Resources Ltd