Larvotto Resources (ASX:LRV) plans to begin a 3,000m reverse circulation (RC) drilling program this month at multiple prospects within the Eyre Project in Western Australia.
Initial drilling is targeting the Merivale lithium and platinum group elements (PGE) geochemical and aircore drilling anomalies, alongside the Mt Norcott and Dickie Dyke nickel soil geochemical anomalies.
The company says results are anticipated to follow in the current quarter.
“We have several reasons to be optimistic about what this program could potentially deliver at the Merivale, Mt Norcott, and Dickie Dyke prospects”
Commenting on the drill program, Larvotto Resources Managing Director Ron Heeks says: “We are delighted to be commencing the next phase of drilling across numerous exciting targets at the multi-commodity Eyre Project in Western Australia.
We have several reasons to be optimistic about what this program could potentially deliver at the Merivale, Mt Norcott, and Dickie Dyke prospects.
The Merivale prospect has produced soil geochemical anomalies for both lithium and nickel in adjacent zones from our previous work. Initial aircore drilling under the soil cover then defined multiple lithium mineralised pegmatite intrusions and a discrete nickel zone in ultramafic rocks earlier this year.
Now we know where they are, this round of drilling will test these zones at depth and penetrate the hard pegmatite zones that aircore drilling could not. We believe that the nearby strong nickel anomalous zones may also hold potential for PGEs as well as nickel at depth.
Mt Norcott and Dickie Dyke are both well-defined nickel geochemical highs associated with the Jimberlana Dyke. Both also have the potential to be mineralised with PGE’s. We look forward to the results from this initial RC drill program and updating shareholders as they become available.”
Larvotto Resources is actively exploring its portfolio of projects including the ‘large’ Mt Isa copper, gold, and cobalt project, adjacent to Mt Isa townsite in Queensland, Australia, alongside a gold exploration project at Ohakuri in New Zealand and the Eyre Project in Western Australia.
As of 31 March 2023, the company had $5.239 million cash 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
