Larvotto Resources (ASX:LRV) has begun drill testing at the Freehold prospect within the Hillgrove Antimony-Gold Project in New South Wales, after completing a gradient-array induced polarisation (IP) and resistivity survey.
Drilling is testing geophysical and historical results where numerous historical workings have only seen a few drillholes put into it.
Larvotto, which has a market capitalisation of $332.98 million, says the results confirm strong correlation with historical Freehole antimony-gold mineralisation and highlight potential extensions.
The strongest anomalies observed 350m to the east, parallel to Freehole in an untested area, delivered priority follow-up drill targets.
Managing Director Ron Heeks says the excellent correlation between the resistivity highs along strike of known and partially mined mineralisation at the prospect is clear.
“We look forward to releasing more geophysical results from other areas and the drill results from follow-up testing,” Heeks says.
Larvotto intends to expand the geophysical program at Hillgrove, including expanding the current IP and resistivity surveys over priority targets and other areas of interest.
The company will also conduct follow-up dipole-dipole IP surveys to model a 3D interpretation to support the determination of the depth of mineralisation.
Drill testing will also be carried out on newly identified IP anomalies to test for potential new zones of antimony-gold mineralisation.
The Hillgrove Project, covering 254km2, hosts a resource estimate of 1.7 million ounces of gold-equivalent @ 7.4 grams per tonne.
Larvotto Resources is actively advancing a portfolio of in-demand mineralisation including antimony, gold, copper, and cobalt.
Write to Aaliyah Rogan at Mining.com.au
Images: Larvotto Resources
