- Larvotto Resources (LRV) reports “excellent” results from shallow geochemical drilling at the Ohakuri Gold Project in New Zealand
- The company’s drilling program extended the potential of the current Central Zone target 800 metres to the west into previously untested areas
- With an exploration model for Ohakuri and results that indicate its validity in hand, the company says its next steps will involve generating a refined target for drilling
- A New Zealand based survey crew has been booked and is relocating the required equipment from Australia to undertake the program
- Larvotto Resources is down 4.76 per cent, trading at 30 cents at 2:30 pm AEST
Larvotto Resources (LRV) has reported “excellent” results from shallow geochemical drilling at the Ohakuri Gold Project in New Zealand.
The company’s drilling program extended the potential of the current Central Zone target 800 metres to the west, into previously untested areas.
Samples were collected from a tractor mounted core drill rig, with holes drilled to penetrate the volcanic ash layer.
The company said multiple samples collected displayed strong epithermal textures, indicating the presence of a potential gold mineralising system nearby.
Each hole was drilled to an average depth of roughly ten metres, with the maximum reaching 22 metres. However, not all drilling managed to penetrate the ash layer, which meant some results were not usable for the interpretation of anomalies.
Despite this, Managing Director, Ron Heeks said the recent program at Ohakuri provided some exciting results.
“Combined with remodelled geophysics and reinterpretation of the historic drilling, we now have results that fit our exploration model brilliantly,” Mr Heeks said.
“The upside is that it is clear the main Central Zone anomaly has essentially not been tested by the historic drilling and these new results add a further 800 metre-long zone of interest.”
With an exploration model for Ohakuri and results that indicate its validity in hand, the company said its next steps will involve generating a refined target for drilling.
A New Zealand based survey crew has been booked and is relocating the required equipment from Australia to undertake the program.
The survey is anticipated to commence within five weeks, and will take up to three weeks to complete.
Larvotto Resources was down 4.76 per cent, trading at 30 cents at 2:30 pm AEST.