Larvotto Resources (ASX:LRV) has secured an option to acquire the Blockade Mine, which is surrounded by the company’s existing Mt Isa tenements in northwest Queensland.
Blockade has the potential to form an integral part of a regional hub-and-spoke operation and serve as the basis of near-term copper production from the existing mine.
Managing Director Ron Heeks says the current known mineralisation is open in all directions and drilling to date has only tested to a depth of 100m, and the potential for a significant tonnage deposit with excellent grade is high.
“Acquiring the Blockade Mine that was previously mined for high-grade copper by Mount Isa Mines has been a strategic priority that we have pursued over several years to complement our Mt Isa portfolio,” Heeks says.
“While the Hillgrove Antimony-Gold Project in New South Wales has been Larvotto’s focus over the past two years, our conviction in the copper potential at Mt Isa remains unchanged.
“We have a dedicated exploration team for Mt Isa, reflecting our commitment to advancing this highly prospective project area. The geology near Blockade is well understood, the mineralisation is fault-controlled and continuous, and historic drilling has identified deeper sulphide copper potential.”
Due diligence drilling by Larvotto at Blockade will begin imminently, consisting of a six-hole (1,500m) reverse circulation drill program designed to validate the previous drill results, test extensions along the northwest mineralised strike, potential parallel structures, and to test the sulphide depth potential.
Results from this drilling program will be reviewed alongside historical drilling data to assess the potential for preliminary resource modelling, enabling the company to complete the due diligence required to make an informed decision whether to proceed with the acquisition of Blockade.
Results from the due diligence drilling are expected in Q1 2026.
If results confirm Larvotto’s expectations, Heeks says Blockade will potentially transform Mt Isa from a greenfield exploration story into a genuine near-term copper development opportunity.
The Blockade mine is located 41km east-north-east of Mount Isa within granted Mining Lease ML 90027. The project is situated within Larvotto’s Mt Isa Project area and is strategically positioned to support a future hub-and-spoke development model.
With a history of small-scale production dating back to the early 20th century, the operation initially supplied high-silica material (>70%) used as flux at the Mount Isa Smelter and later high-grade copper ore.
The Mount Isa Project is located in northwest Queensland Australia, falling within the eastern portion of the Mt Isa Inlier, which is recognised as one of the richest metallogenic regions in the world. The project extends over an area from 60 km northeast to 20km south of Mt Isa and covers a large area of approximately 900km2.
The project is in a well-endowed, world-class copper and gold region, with deposits such as the Mount Isa Mines Operation (MIM), Ernest Henry, E1, Swan-Mt Elliott, Starra, Osborne, Little Eva, Eloise, Jericho, Barbara and Kulthor.
The tenements north and south of Mt Isa acquired from Rio Tinto (ASX:RIO) are adjacent and directly along strike from the current MIM operations.
Write to Adam Orlando at Mining.com.au
Images: Larvotto
