The IP survey also highlighted the presence of several shallow, compelling anomalies that are slightly offset to the west of the copper-soil anomaly and the magnetic trend.
The company says it now plans to conduct follow-up work on the prospects to better define the presence of copper mineralisation. It plans a closely-spaced soil sampling program at Portal Creek’s eastern anomaly, followed by drilling to test the IOCG potential at the project.
The Ballara Saddle target follow-up work will include mapping and the use of available datasets to design a drill program. Drilling will also be planned at the Bass prospect.
Larvotto has other prospective projects on its hands, recently revealing channel sampling at its Hillgrove gold-antimony project in New South Wales delivered glowing assay results going as high as 63 grams per tonne gold, 13.82g/t silver and more than 30 per cent antimony.
Management says the impressive results highlight the high-grade nature of the Hillgrove operation, while samples from the 1.5-million-tonne historical tailings facility recorded gold grades exceeding the average of many operating open pit mines. The Hillgrove project lies 23km east of Armidale in NSW and comprises four exploration leases and 48 granted mining leases across its 254 square kilometres of tenure.
The acquisition of the project included an operational processing plant that was put on care and maintenance in 2021. It features a 250,000 tonnes per annum capacity and came with associated infrastructure. It is a serious financial bonus for the company as it would be looking at a cost likely to be more than $200 million to build the plant from scratch.
With its kit-bag full of geophysical targets in a known mining precinct and a gold project oozing high-grade samples, things could get interesting quickly for Larvotto.
Is your ASX-listed company doing something interesting? Contact: [email protected]
Source Agencies
