- Larvotto Resources (LRV) kicks off geochemical drilling at its Ohakuri gold project, located in the North Island of New Zealand
- As part of its first quarter as an asx-listed company, Larvotto has planned drilling at the project to expand upon limited previous geochemical work undertaken by past explorers
- Previous exploration delineated a large, lower-grade zone of gold mineralisation called the Central Zone, the feeder to which was not targeted
- The program is designed to test below the unmineralised surficial layer of volcanic ash with 150 drill holes planned to an average depth of 10 metres
- Company shares have ended the day 5.4 per cent higher at 19.5 cents
Larvotto Resources (LRV) has kicked off geochemical drilling at its Ohakuri gold project, located in the North Island of New Zealand.
As part of its first quarter as an ASX-listed company, Larvotto has planned drilling at the project to expand upon limited previous geochemical work undertaken by past explorers.
Larvotto has determined that the project is covered in a layer of recent volcanic ash that makes near surface sampling unviable in most areas.
However, previous exploration dating back to the 1980s delineated a large, lower-grade zone of gold mineralisation called the Central Zone, the feeder to which was not targeted.
Historic data has revealed gold intersections within the Central Zone included 172 metres at 0.41 grams of gold per tonne (g/t) and 160 metres at 0.32 g/t.
Now, these potentially higher-grade zones of mineralisation are the current focus of
exploration for Larvotto.
Drilling is being undertaken with a two-phase sampling program using a tractor mounted drill rig.
The program is designed to test below the unmineralised surficial layer of volcanic ash with 150 drill holes planned to an average depth of 10 metres.
A secondary focus of the program is to re-evaluate the geochemical information to gain more information of the Central Zone to allow for a re-interpretation of the area.
Once better defined, the company plans to undertake a Controlled Source Audio-frequency Magnetotellurics geophysics program to accurately define potential mineralising features defined from the geochemistry, prior to diamond drilling.
Company shares were trading 5.41 per cent higher at 19.5 cents at market close.