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Larvotto Resources (ASX:LRV), a junior explorer and clear winner of the antimony hype train borne from Chinese export curbs, is gearing up to drop more gold and antimony drill data on shareholders.
Chasing after what geotechs hope will prove to be high-grade gold and antimony, diamond drilling is to kick off at Garibaldi and Bakers’ Creek, two areas of interest within the larger NSW-based Hillgrove landholding.
At Garibaldi, drillers hope to extend mineralisation at depth; at Bakers’ Creek, drillers will sniff out seven identified target zones which the company is naturally interested to test in a bid to find more high-grade gold hits.
HotCopper users examining Larvottos’ Tuesday news were, in a word, mixed in their sentiment as to what Larvotto’s share price could do in the near future. Some wondered whether the company will need to stage a capital raise before long.
The company highlighted a former result for 31m at nearly 66g/t gold – but, it’s nearly 250m underground. At any rate, drills will target a geological feature of interest called Little Reef which lies below old workings created in historical contexts. That reef provided the 66g/t read.
Meanwhile, as for antimony, that’s where Garibaldi comes into play – drilling will be infill in nature and will also target potential mineralisation beneath an existing pit (once created to mine antimony specifically).
In the background, assay results remain due back on the Board’s desks based on the data provided by a recent RC drill run at Clarks Gully, another area part of Hillgrove.
“The drilling at Garibaldi is targeting the infill and extension of the existing JORC 2012 Resource Estimate of 2,346kt at 6.6g/t AuEq by focusing on high-grade gold-antimony mineralisation,” company chief Ron Heeks said.
“The Bakers Creek drilling is particularly interesting with several distinct mineralised zones identified and targeted in this drilling program.
“These targets are the first of many near mine drilling targets Larvotto will be exploring to increase the overall Mineral Resources within the Hillgrove Mineral Field.”
LRV last traded at 50cps.
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