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

Larvotto Resources Ltd (ASX: LRV) shares surged ~46% after revealing high-grade gold results from drilling at the Hillgrove gold and antimony mine in New South Wales.

The 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.

“Exceptional high-grade intercepts”

Larvotto Managing Director Ron Heeks said: “The drilling program at Bakers Creek yielded exceptional high-grade intercepts, returning significant high-grade results.

“This work highlights the wealth of mineralised structures within the Hillgrove field.”

Mineralisation extends to depth

Bakers Creek has historically produced over 300,000 ounces of high-grade gold.

From its interpretation of these mined areas, Larvotto has concluded there should be further extension to the ore shoots.

Specifically, the standout result of 31 metres at 65.8 g/t demonstrates that the mineralisation does extend to depth while maintaining excellent grades.

Heeks said that these stunning results also provide the company with positive momentum as it nears completion of the metallurgical study and the release of its initial ore reserve estimate for the Hillgrove Project.

Next steps

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.

Further interrogation of the drilling data from historical drilling will also benefit the understanding of the structural relationships of the mineralisation.

 

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