Larvotto Resources (ASX:LRV) says its latest drilling results returned from the Midas lode support its exploration target, located within the Hillgrove Antimony-Gold Project in New South Wales.
Recent intersections include 8m @ 16.11 grams per tonne gold equivalent, including 4.5m @ 27.78g/t gold equivalent from hole BLK118, which is recorded as the ‘highest-grade’ gold-antimony intersection to date at Midas.
Drill hole BLK117 returned 29.7m @ 2.19g/t gold equivalent, including 10m @ 4.11g/t gold equivalent, which Larvotto says confirms ‘wide’ zones of mineralisation and ‘strong’ vertical continuity from surface.
Midas is directly accessible from existing underground development, supporting accelerated inclusion in the mine schedule ahead of deeper mineralisation.
Larvotto is continuing drilling at Midas with two rigs operating currently, advancing toward a maiden resource estimate for Midas.
Managing Director Ron Heeks says the company’s confidence is strengthened by ”the excellent drill results from Midas”, which demonstrate wider widths and higher grades of mineralisation than those used in the Midas exploration target estimate.
“To identify easily accessible mineralisation along strike from the current area of active mining is an excellent result and two rigs are now infilling and extending the zone to the north,” Heeks says.
“As demonstrated in the recent initial exploration estimate, the zone could easily double the current mine life of Hillgrove in the near term and be accessible from the adjacent Syndicate orebody currently being mined.”
As reported by Mining.com.au earlier this week, Larvotto established a preferred exploration target of 3.95 million tonnes @ 5.16g/t gold equivalent for 656,000 contained gold equivalent ounces for the Midas lode at the Metz Mining Centre.
Larvotto Resources will be attending the Noosa Mining Investor Conference, held between 22–24 July, at Peppers Noosa Resort, Noosa Heads, Queensland.
Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: Larvotto Resources
