Larvotto unearths new drill targets at flagship NSW gold project
A geophysical survey at Larvotto Resources' Hillgrove antimony-gold project in New South Wales has unearthed a series of promising new drill targets beneath and along strike of known mineralisation at the company's Clarks Gully prospect.
Larvotto says its gradient-array induced polarisation (IP) and resistivity survey hit the mark, lighting up zones that were historically rich in antimony and gold. The results back the company's geological model and give a clear green light for it to chase new, low-cost mineral discoveries across the project.
Fender Geophysics ran the IP survey, which picked up strong chargeability and resistivity signals exactly where Larvotto had already found mineralisation, stacking the odds in Larvotto's favour of finding further lookalikes. The best new targets sit right under the old Clarks Gully pit and extend to the north, setting the stage for some exciting follow-up drilling.
The IP technique, which measures how the ground resists and stores electrical charge, is especially suited to Hillgrove, where mineralisation is tightly linked to sulphide-rich and silica-altered rocks. Both rock types appear to stand out like a sore thumb in the IP data.
'The IP survey demonstrates the opportunity to use it as a cost-effective exploration tool across the broader Hillgrove Project area.'
Larvotto Resources managing director Ron Heeks
Larvotto Resources managing director Ron Heeks said: 'The IP survey has delivered an important validation of our geological model at Clarks Gully with strong correlation between our known mineralisation and the high chargeability and resistivity responses. It not only confirms the continuity of the NW-SE trending system and associated splays but also demonstrates the opportunity to use IP as a cost-effective exploration tool across the broader Hillgrove Project area.'
Larvotto now plans to fast-track a second phase of geophysics, this time deploying dipole-dipole arrays to build a 3D model of the mineralised system and test the depth extent of the anomalies. This data will feed directly into the company's next drilling program to zero in on new zones of antimony-gold mineralisation at Clarks Gully.
It will also give the company scope to widen its line of sight on fresh targets across the wider Hillgrove project.
At the same time, the company is gearing up for more geophysical surveys to sterilise the grounds under its planned mine infrastructure area. This will allow Larvotto to weave exploration into future development planning and reduce the risk of flicking the switch to production.
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The Age
4 days ago
- The Age
Larvotto unearths new drill targets at flagship NSW gold project
A geophysical survey at Larvotto Resources' Hillgrove antimony-gold project in New South Wales has unearthed a series of promising new drill targets beneath and along strike of known mineralisation at the company's Clarks Gully prospect. Larvotto says its gradient-array induced polarisation (IP) and resistivity survey hit the mark, lighting up zones that were historically rich in antimony and gold. The results back the company's geological model and give a clear green light for it to chase new, low-cost mineral discoveries across the project. Fender Geophysics ran the IP survey, which picked up strong chargeability and resistivity signals exactly where Larvotto had already found mineralisation, stacking the odds in Larvotto's favour of finding further lookalikes. The best new targets sit right under the old Clarks Gully pit and extend to the north, setting the stage for some exciting follow-up drilling. The IP technique, which measures how the ground resists and stores electrical charge, is especially suited to Hillgrove, where mineralisation is tightly linked to sulphide-rich and silica-altered rocks. Both rock types appear to stand out like a sore thumb in the IP data. 'The IP survey demonstrates the opportunity to use it as a cost-effective exploration tool across the broader Hillgrove Project area.' Larvotto Resources managing director Ron Heeks Larvotto Resources managing director Ron Heeks said: 'The IP survey has delivered an important validation of our geological model at Clarks Gully with strong correlation between our known mineralisation and the high chargeability and resistivity responses. It not only confirms the continuity of the NW-SE trending system and associated splays but also demonstrates the opportunity to use IP as a cost-effective exploration tool across the broader Hillgrove Project area.' Larvotto now plans to fast-track a second phase of geophysics, this time deploying dipole-dipole arrays to build a 3D model of the mineralised system and test the depth extent of the anomalies. This data will feed directly into the company's next drilling program to zero in on new zones of antimony-gold mineralisation at Clarks Gully. It will also give the company scope to widen its line of sight on fresh targets across the wider Hillgrove project. At the same time, the company is gearing up for more geophysical surveys to sterilise the grounds under its planned mine infrastructure area. This will allow Larvotto to weave exploration into future development planning and reduce the risk of flicking the switch to production.
Sydney Morning Herald
4 days ago
- Sydney Morning Herald
Larvotto unearths new drill targets at flagship NSW gold project
A geophysical survey at Larvotto Resources' Hillgrove antimony-gold project in New South Wales has unearthed a series of promising new drill targets beneath and along strike of known mineralisation at the company's Clarks Gully prospect. Larvotto says its gradient-array induced polarisation (IP) and resistivity survey hit the mark, lighting up zones that were historically rich in antimony and gold. The results back the company's geological model and give a clear green light for it to chase new, low-cost mineral discoveries across the project. Fender Geophysics ran the IP survey, which picked up strong chargeability and resistivity signals exactly where Larvotto had already found mineralisation, stacking the odds in Larvotto's favour of finding further lookalikes. The best new targets sit right under the old Clarks Gully pit and extend to the north, setting the stage for some exciting follow-up drilling. The IP technique, which measures how the ground resists and stores electrical charge, is especially suited to Hillgrove, where mineralisation is tightly linked to sulphide-rich and silica-altered rocks. Both rock types appear to stand out like a sore thumb in the IP data. 'The IP survey demonstrates the opportunity to use it as a cost-effective exploration tool across the broader Hillgrove Project area.' Larvotto Resources managing director Ron Heeks Larvotto Resources managing director Ron Heeks said: 'The IP survey has delivered an important validation of our geological model at Clarks Gully with strong correlation between our known mineralisation and the high chargeability and resistivity responses. It not only confirms the continuity of the NW-SE trending system and associated splays but also demonstrates the opportunity to use IP as a cost-effective exploration tool across the broader Hillgrove Project area.' Larvotto now plans to fast-track a second phase of geophysics, this time deploying dipole-dipole arrays to build a 3D model of the mineralised system and test the depth extent of the anomalies. This data will feed directly into the company's next drilling program to zero in on new zones of antimony-gold mineralisation at Clarks Gully. It will also give the company scope to widen its line of sight on fresh targets across the wider Hillgrove project. At the same time, the company is gearing up for more geophysical surveys to sterilise the grounds under its planned mine infrastructure area. This will allow Larvotto to weave exploration into future development planning and reduce the risk of flicking the switch to production.
Sydney Morning Herald
06-05-2025
- Sydney Morning Herald
Larvotto study signals huge $694M earn for NSW gold-antimony mine
In a standout move set to transform Larvotto Resources into a major player in the global critical minerals game, the company has unveiled a stunning definitive feasibility study (DFS) for its Hillgrove antimony-gold project in New South Wales. To paraphrase much-loved Michael Caine, the study has literally 'blown the doors off' by touting an eye-popping post-tax net present value of $694 million using an 8 per cent discount rate. It also forecasts an annual EBITDA of $251M and a free cashflow of $128M after tax every year for 8.2 years. The up-front spend net of pre-production revenue is forecast to be a modest $133M, thanks to significant existing infrastructure, including power, water and a partially developed underground network. When an assumed metal price is taken into account, the investment should be paid back in an ultra-quick 11 months. The study assumed conservative respective gold and antimony prices of US$2850 (A$4415) per ounce and US$41,000 (A$63,514) per tonne. However, if spot prices are employed, the net present value balloons to a massive $1.269 billion with an annual EBITDA of $354M and free cashflow of $198M. 'The project has a long way to go to reach its full potential. This DFS is stage one in that process.' Larvotto Resources managing director Ron Heeks The DFS's most startling discovery may be its all-in sustaining costs, which are forecast to come in at a jaw-dropping negative rate of $1367 per gold equivalent ounce after credits from antimony production are factored in. Hillgrove hosts an ore reserve of 606,000 ounces grading at 6 grams per tonne (g/t) gold equivalent, with more than $150M worth of processing infrastructure already in place. Larvotto is targeting a yearly output of 40,566 ounces of gold and 4878 tonnes of antimony from the mine. Construction of the upgraded 525,000 tonnes per annum processing plant - up from 250,000tpa - is slated to begin in the next couple of months. Larvotto expects to commission the plant and pour its first gold within 12 months. The project is poised to be Australia's biggest antimony producer, accounting for up to 7 per cent of global supply. It would turn Larvotto into a major supplier as Western nations scramble to secure supply chains for critical minerals after Chinese export bans last year.
