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Doug Bright
Larvotto Resources has pulled a spectacular drill core intercept of 0.5 metres grading 62.6 grams per tonne (g/t) gold equivalent from its Clarks Gully prospect, part of the companyโs recently commissioned Hillgrove gold-antimony-tungsten mine, 35 kilometres east of Armidale in New South Wales.
The headline hit came from within a broader 9.5m zone assaying 8.07g/t gold equivalent from 345.5m downhole and also contained a separate 0.8m intercept going a solid 42.7g/t gold equivalent. The results emerged from the first ten holes of a 16-hole diamond drilling campaign designed to extend mineralisation at depth and to the south of the prospectโs existing resource.
Notably, the latest drilling appears to have extended a significant multi-zone orebody at Clarks Gully, comprising stacked, parallel mineralised zones, which the company says remain open down-dip and along strike.
Another hole returned multiple impressive zones, including 14.3m at 2.96g/t gold equivalent from 339.7m, featuring 1m going at 23.69g/t gold equivalent from 342.5m. That run was accompanied by a separate showstopper of 1m at a stunning 60.4g/t gold equivalent from 375m, proving the headline hit was not just a one-off teaser.
โImportantly, we are seeing strong results from multiple mineralised structures that are parallel to the main lode.โ
Larvotto Resources managing director Ron Heeks
Other standout results included a 12.5-metre section grading 4.92g/t gold equivalent from 262m, a 1.5-metre hit at 29.0g/t gold equivalent from 327.5m and a 9-metre intercept running 7.05g/t gold equivalent from 290m. The latter included a creditable high-grade core of 1m running 45.09g/t gold equivalent.
According to Larvotto, the widespread mineralisation across multiple holes has bolstered its belief that Clarks Gully is a broad system containing multiple stacked lodes and high-grade ore shoots, rather than just a single structure.
Just as importantly, the drilling has continued to highlight the projectโs significant tungsten endowment. The same hole that delivered the 62.6g/t gold-equivalent hit also returned a tungsten intercept of 6.1m at 1.43 per cent tungsten trioxide from 345.5m.
Larvotto Resources managing director Ron Heeks said: โThese latest drill results continue to demonstrate the scale and growth potential emerging at Clarks Gully. The program, completed within granted Mining License 1332, has returned multiple zones of high-grade gold-antimony-tungsten mineralisation confirming that the system remains open at depth and extends well beyond the areas currently incorporated in our current resource.โ
Other impressive tungsten results included a stunning best hit of 1m at 7.27 per cent tungsten trioxide from 375m, in the same hole that gave up the second best gold equivalent result of 14.3m at 2.96g/t gold equivalent. Another hole delivered 1.5m at 3.60 per cent tungsten trioxide from 327.5m, while a third tungsten-bearing hole also gave up 1m at an outstanding 5.44 per cent tungsten trioxide from 298m.
In May last year, Larvotto published a mineral resource estimate for Clarks Gully of 647,000 tonnes at 1.6 per cent antimony and 2.1g/t gold, for a gold equivalent grade of 6.7g/t. The latest drilling at Clarks was designed to test for extensions beyond that resource envelope, with all 16 holes from the program nailing the targeted mineralised structure and assays received from the first ten drill holes.
The company is incorporating the new data into its geological modelling to generate an updated resource estimate once all assays from the 16-hole program are received. Engineering and metallurgical studies are already well advanced, supporting Larvottoโs intention to publish a reserve as it looks to get the approval ball rolling for underground mining at Clarks Gully.
The timing of the high-grade hits and indications of a multi-lode, multi-commodity system at Clarks Gully could hardly be better, with both antimony and tungsten on the radar of Western governments and already included in Australiaโs own critical minerals listing.
Eight months ago the Federal Government updated the parameters for its $1.2 billion Critical Minerals Strategic Reserve, revealing that antimony, gallium and rare earth elements would be the first three minerals chosen for immediate priority, as geopolitical and supply tensions continue to simmer.
With production now underway at the broader Hillgrove operation since the end of August and drill rigs active across the mineral field, Larvotto looks to be in a strong position to grow its resource base. With samples from the remaining six diamond drill holes at Clarks Gully now at the lab, more good news could be just around the corner.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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