- Larvotto Resources (LRV) will begin diamond drilling at the Ohakuri gold project in New Zealand from January 16
- Drilling will aim to test geophysical targets believed to be feeder zones for the surface gold mineralisation
- The rig will be mobilised to site to complete some 3000 metres of diamond drilling and the program is expected to take several months
- Shares in Larvotto Resources are up 9.38 per cent, trading at 17.5 cents at 1:51 pm AEDT
Larvotto Resources (LRV) will commence diamond drilling at the Ohakuri gold project in New Zealand from January 16.
The aim of the drilling is to test geophysical targets believed to be feeder zones for the surface gold mineralisation.
The rig will be mobilised to site to complete around 3000 metres of diamond drilling targeting potentially higher-grade, gold ‘feeder’ zones.
Drilling will be undertaken by a track-mounted diamond rig with eight holes to be drilled to depths of 250 to 500 metres with the aim of intersecting known quartz rich zones.
“Results from the geophysical survey completed last year along with a re-evaluation of the large amount historical exploration information has produced several concise drill targets that warrant diamond drilling,” Managing Director Ron Heeks said.
“Ohakuri has been explored by several companies over the past 40 years and a large lower grade area of mineralisation has been identified,” Mr Heeks said.
“The source of this mineralisation has not been identified and we look forward to some exciting results from the drilling.”
Drilling is expected to take several months to complete.
Shares in Larvotto Resources were up 9.38 per cent, trading at 17.5 cents at 1:51 pm AEDT.