Larvotto Resources (ASX:LRV) has returned ‘bonanza’ grade total rare earth element oxide (TREO) results of up to 1.26% (12,611ppm) from aircore (AC) drilling at the Merivale South prospect in Western Australia.
The results, generated by drilling conducted on a 500m section of an 8km geochemical TREO anomaly identified by historic auger soil drilling, indicate potential for a 3km long ‘high-grade’ TREO anomaly to exist within the 8km envelope, with mineralisation remaining open in all directions.
The company reports results from Merivale also produced ‘very encouraging’ TREO grades, as well as multiple wide, near surface intersections. It is Larvotto’s belief that the mineralisation is hosted within ionic clays, making them suitable for simple, cost-effective extraction.
Larvotto notes testwork is currently underway to confirm this theory, with plans to undertake follow-up programs that are reported to potentially contain further testing within the first anomaly and initial testing of the other 2 anomalies.
As of 10am AWST, Larvotto Resources share price had seen an increase of 81.48%.
Merivale South is a substantial underexplored prospect that lies within Larvotto’s Eyre Project, located 40km east of Norseman within the Albany–Fraser Range sequence of rocks, known for its rare earth mineralisation.
Key results include hole MSAC001 with 6m @ 3,233ppm TREO from 19m with 16.6% neodymium-praseodymium (NdPr) and 3.2% dysprosium (Dy) including 1m @ 6,940ppm TREO from 21m with 17.15% NdPr and 3.35% Dy and 1m @ 7,057ppm TREO from 22m with 18.30% NdPr and 2.86% Dy.
Other results include hole MSAC003 with 12m @ 2,326ppm TREO from 12m, with 16.7% NdPr and 3.7% Dy including 4m @ 5,270ppm TREO from 18m with 20.74% NdPr and 2.15% Dy and 1m @ 12,616ppm TREO from 20m with 22.24% NdPr and 1.56% Dy.
Commenting on the results, Larvotto Resources Managing Director, Ron Heeks says: “Today’s results are exceptionally high-grade intervals for ionic clay mineralisation and come from shallow depth. The potential for significant amounts of TREO here is excellent, with Larvotto having identified two further proximate geochemical anomalies for further testing.
“The potential for significant amounts of TREO here is excellent, with Larvotto having identified two further proximate geochemical anomalies for further testing”
We’ve just commenced and already our high-grade results compare favourably to those being delivered by leading companies globally, demonstrating excellent heavy TREO and NdPr ratios. Based on first pass drilling, we have identified a potentially significant project.”
The company also notes results from soil geochemical work indicate the geochemical anomaly is aligned with a ‘very strong’ thorium radiometric response.
Additionally, drilling has also delivered ‘very good’ heavy magnetic REO (HREO) grades up to 3,787ppm in addition to ‘excellent’ NdPr ratios, both of which are considered to have ‘significant’ importance when assessing rare earth projects.
With metallurgical testwork underway, Larvotto Resources announces selected intervals from 6m composites have been sent for metallurgical testing in order to determine if mineralisation is associated with ionic clays. Results from this work will determine the extent of the company’s future drilling at Merivale South.
Larvotto Resources is an ASX-listed exploration company actively exploring its portfolio of projects including the large Mt Isa Copper, Gold, and Cobalt Project adjacent to the Mt Isa townsite in Queensland, as well as an ‘exciting’ gold project in Ohakuri in New Zealand’s North Island, and the Eyre multi-metals and lithium project in Western Australia.
The Eyre Copper-Gold-PGE-Nickel-Lithium Project is located about 30km east of the township of Norseman and has easy access due to it being situated near the Eyre Highway. The project covers part of the northeast trending crustal-scale suture zone between the Archaean Yilgarn Craton to the north, as well as the Proterozoic Albany Fraser Orogen to the south.
Images: Larvotto Resources Ltd
