Join our daily newsletter At The Bell to receive exclusive market insights
- Larvotto Resources (LRV) reports “encouraging” rare earth results from a maiden drilling campaign at its Merivale South prospect within the Eyre project in WA
- The company struck several rare earth zones across a strike length of 800 metres, including up to 3466 parts per million total rare earth oxides (TREO) from 18 metres
- Larvotto now plans to complete metallurgical testwork on Merivale South samples to determine the amenability of the mineralisation to extraction
- LRV Managing Director Ron Heeks says given the “huge” size of the rare earth anomaly, this could just be the “tip of the iceberg” at the project
- LRV shares are trading at 15 cents at 11:06 am AEDT
Larvotto Resources (LRV) has reported “encouraging” rare earth results from a maiden drilling campaign at its Merivale South prospect within the Eyre project in WA.
The company struck several rare earth zones across a strike length of 800 metres, including up to 3466 parts per million (ppm) total rare earth oxides (TREO) from 18 metres.
Other highlights included six metres at 3140 ppm TREO from 18 metres.
Larvotto Managing Director Ron Heeks said the results were “extremely encouraging” considering it was the company’s first drill testing of a small section of just one of its rare earth element anomalies.
“The results compare favourably with those quoted by leading companies in the field, with excellent heavy TREO and NdPr ratios, and widths are also very good and close to the surface,” Mr Heeks said.
“Given the huge size of the anomaly, this could just be the tip of the iceberg, and this round of drilling could be the beginning of a significantly larger drilling program.”
He said Larvotto now planned to complete metallurgical testwork on Merivale South samples to determine the amenability of the mineralisation to extraction.
Further, the six-metre intersections will be resampled using two-metre intervals so that a greater definition of the TREO mineralisation can be identified.
Resampling will also provide material for future metallurgical test work and help to determine the extent of future drilling.
Merivale South lies 40 kilometres east of Norseman within the Albany–Fraser Range sequence of rocks and is known for its rare earth mineralisation.
LRV shares were trading at 15 cents at 11:06 am AEDT.
