Larvotto Resources Limited (ASX: LRV) has announced an exploration target of between approximately 670,000 and 1.08Moz AuEq, ranging between approximately 7.4 and 9.46g/t AuEq for its Hillgrove mineral field in NSW. This is in addition to the existing significant mineral resource of 1.4Moz @ 6.1g/t AuEq.
The exploration target for the Hillgrove project is confined to potential mineralization located directly below areas of the current resources which are themselves below historic workings that have a known production history. The exploration target will be used as a guide to target ongoing exploration, while beginning to demonstrate the upside of the project area.
“Identifying an initial rxploration target of between approximately 670,000 to 1.1Moz AuEq is an excellent result. This target is in addition to the existing 1.4Moz high-grade resource at Hillgrove.” Said managing director, Ron Heeks. “Our ongoing evaluation of the extensive Hillgrove landholding continues to demonstrate the exploration upside which exists at this exceptional project. For this exercise, Larvotto has simply extended the known mineralization of the several previously mined zones to the depth of the deepest resource in the field using historical mining and resources numbers to achieve the initial Hillgrove exploration target.”
The exploration target is based on the following key assumptions:
• Continuity of mineralization at the Eleanora-Garibaldi Exploration Target to a depth of 800m below surface, as exists at the Bracken Spur deposit
• Continuity of mineralization at the Metz Exploration Target to a depth of 1,000m below surface, as exists at the Syndicate deposit
• Application of standard industry estimation methodologies
• Extensive historical mining and exploration information
The exploration target is based on an ongoing compilation of existing geological and mining information, recent drilling, and the current mineral resource published by the company in December 2023.
In addition, metallurgical test work and production data through the Hillgrove mill, show that total gravity/float recoveries of 83.6% Au and 89.6% Sb are achievable and Larvotto is confident that the sale of the commodities will be completed in line with standard industry practices for antimony and gold concentrate sales.
To find out more, please visit www.larvottoresources.com
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