Larvotto Resources Limited (ASX: LRV) is preparing to commence drilling at its 100%-owned Mt Isa copper project at the high-priority Blue Star Gospel and Portal Creek targets in Queensland, Australia.
The drill programme will target the Blue Star, Gospel and Portal Creek prospect areas of the Mt Isa Project.
These priority targets were delineated from a geophysical Fixed Loop Ground Electromagnetic survey (FLEM) that Larvotto conducted earlier this year, which identified multiple zones of near surface mineralisation across the wider Mt Isa Project.
The drill programme will comprise a combination of Reverse Circulation (RC) and diamond drilling and is expected to take up to four weeks to complete, dependent upon drilling conditions. DDH1 Ltd is undertaking the drill program for Larvotto.
We are looking forward with the commencement of multiple exploration programmes across our portfolio,” Managing Director, Ron Heeks, said.
“The drilling programme commencing at Mt Isa will focus on the high priority Blue Star, Gospel and Portal Creek targets, which were identified earlier this year from the geophysical survey we carried out.
“The Blue Star and Gospel area form a particularly interesting target as it is identified below the historic workings, which has previously returned numerous significant results and our recent geophysics program identified a conductive zone that commences beneath these workings and plunges to the south.
“The zone is slightly offset from the old working and has not been drilled previously and may form the extension to the zones identified near surface.
“In New Zealand, we will be commencing the IP geophysical survey to identify high-priority targets for follow-up diamond drilling later this year.
“Our work to date at Ohakuri strongly indicates the potential for the project to be a classic epithermal gold system and we can’t wait to further explore this exciting project.
“At Eyre, our geophysics survey is currently underway at Mt Norcott to follow-up the strong nickel and copper anomaly we identified earlier this year which has extended to over 4km of strike.
“This is an exciting time for Larvotto and as our three programs proceed and we expect significant news flow moving forward, which we look forward to sharing with our shareholders and the market.”
Ohakuri, New Zealand
In New Zealand at the Ohakuri Project, the detailed IP geophysical survey, which was originally planned for earlier in the year but was postponed due to equipment issue, has now been rescheduled to commence later in August.
The aim of the survey is to provide detailed targets for follow up diamond drilling from areas identified by reinterpreted wide-spaced ESCAN geophysics and previous drilling.
Work to date carried out by Larvotto, including the recent geochemical drilling which successfully extended the Central Zone Target 800m to the west, strongly suggests that Ohakuri could be a classic epithermal gold system, which is the Company’s targeted model at this project (Figure 1). It is anticipated that the survey should take two weeks to complete.
