Larvotto Resources Sets Gold Exploration Target For Hillgrove Project

Larvotto Resources Ltd (ASX:LRV) has revealed an Exploration Target of between 670,000 and 1.08 million ounces (Moz) gold equivalent (AuEq) for its Hillgrove Project in NSW.

This is in addition to the existing significant Mineral Resource of 1.4 Moz at 6.1g/t AuEq.

Notably, the grade of the Exploration Target is between 7.4 and 9.46 g/t AuEq.

Guide for ongoing exploration

The Exploration Target for the Hillgrove project is confined to potential mineralisation located directly below areas of the current resources.

These resources 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.

MD comments

Larvotto Managing Director Ron Heeks said: “This Target is in addition to the existing 1.4 Moz high grade resource at Hillgrove.

 “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 mineralisation 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.”

Bakers Creek potential

Additional exploration areas are not yet included in this Exploration Target estimate including Bakers Creek, which recently showed significant mineralisation at depth

Read: Larvotto Resources Shares Soar On High-Grade Gold Hits At Hillgrove

The recent 2,036-metre diamond drilling program targeted the lower level of gold mineralisation at Bakers Creek.

High-grade intersections include 31 metres at 65.8 g/t gold from 244 metres peaking at a bonanza grade of 5.3 metres at 220 g/t from 245 metres.

The Bakers Creek drilling proved the continuity of gold mineralisation at depth, below the historically mined Little Reef and associated regional shear zone.

This demonstrated mineralisation requires further drilling to bring this reef into resource calculations.

 

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