Larvotto Resources' Clarks Gully Drilling Yields High-Grade Gold-Antimony Results
LARVOTTO RESOURCES LIMITED (LRV) Share Update December 2024 Monday 2nd
Larvotto Resources Unveils Promising Clarks Gully Drill Results
Larvotto Resources Limited (ASX: LRV) has announced further excellent assay results from its Clarks Gully drilling program, part of the Hillgrove Project in New South Wales.
Instant Summary:
- 20 meters at 8.2 g/t AuEq, 10 meters at 8.74 g/t AuEq.
- 18 meters at 7.87 g/t AuEq, 11 meters at 7.31 g/t AuEq.
- 6 meters at 17.2 g/t AuEq, 12 meters at 4.06 g/t AuEq.
- Mineralization extends northward with high-grade gold and antimony.
Drilling Program Overview
Larvotto Resources has completed a 4,469-meter RC drilling program at Clarks Gully, aimed at expanding and further defining the high-grade gold-antimony mineralization. The program is part of the company's 100%-owned Hillgrove Project in New South Wales. The recent results have confirmed the presence of significant mineralization, including several high-grade intercepts.
The drilling results include impressive intercepts such as 20 meters at 8.2 g/t gold equivalent (AuEq) and 6 meters at 17.2 g/t AuEq, among others. These results are expected to enhance the current mineral resource, which stands at 266,000 tonnes at 3.8% antimony and 2.0 g/t gold for 10.6 g/t AuEq.
Mineralization Details
According to Managing Director Ron Heeks, the results confirm the continuity of mineralization along-strike to the north of the existing deposit. This area had previously seen sparse drilling, and the new data indicates that the mineralization improves both along strike and at depth. The high-grade gold and antimony are present in sub-parallel mineralized zones, suggesting further potential for resource expansion.
The mineralization at Clarks Gully is characterized by excellent widths and consistent shapes, with multiple zones of high-grade gold and antimony. The drilling has provided valuable insights into the geology of the area, supporting the need for additional drilling to extend the mineralization beyond the current resource boundaries.
The positive drill results are likely to boost investor confidence in Larvotto Resources, as they suggest significant potential for resource expansion at Clarks Gully. The high-grade nature of the mineralization could enhance the economic viability of the Hillgrove Project, potentially leading to increased interest from investors and partners.
Investor Reaction:
Analysts are likely to view the results favorably, given the high-grade nature of the mineralization and the potential for resource expansion. The continuation of mineralization to the north suggests that Larvotto Resources could significantly increase its resource base, which may positively impact the company's stock price.
Conclusion:
Investors should keep an eye on Larvotto Resources as the company continues its exploration efforts at Clarks Gully. The promising drill results indicate a strong potential for resource growth, making Larvotto a company to watch in the gold and antimony sectors.