Larvotto Resources (ASX: LRV) has struck high-grade gold and antimony at its Hillgrove Project in New South Wales, delivering early Christmas cheer to investors keen on high-value precious and critical minerals. The company has reported drilling results from its Clarks Gully deposit and promising preliminary findings at Bakers Creek, setting the stage for significant resource growth in the near future.
Clarks Gully: Delivering the Goods
The reverse circulation (RC) drilling program at Clarks Gully confirmed shallow, high-grade gold and antimony mineralisation, with several standout intersections:
- 7m at 22.28 g/t gold equivalent (AuEq)
- 6m at 15.5 g/t AuEq
- 9m at 5.48 g/t AuEq
These results extend and upgrade the current resource of 266,000 tonnes at 3.8% antimony and 2.0 g/t gold. Managing Director Ron Heeks was upbeat, noting that the high-grade nature of the results and the extension of mineralisation down-dip could potentially support underground mining beyond the planned open-pit operations. "This drilling has validated our belief in Clarks Gully’s potential, while also identifying mineralisation south of the existing pit design," Heeks said.
The RC program also targeted a geochemical anomaly south of the pit, uncovering new zones of near-surface gold mineralisation that demand further attention. Notably, 14 of the 54 drill holes have pending assays, expected in the coming weeks, which could add to the buzz around this project.
Bakers Creek: A Golden Opportunity
At Bakers Creek, Larvotto has kicked off a diamond drilling campaign, hitting visible gold in its very first hole at the Big Reef lode. This follows earlier drilling in 2024 that delivered an eye-popping 31m at 65.8 g/t gold. While no assay results are available yet, the presence of visible gold has bolstered confidence in the geological model and hinted at significant untapped potential.
The Bakers Creek system sits outside the current 1.7 million-ounce Hillgrove mineral resource, offering Larvotto a fresh opportunity to expand its footprint. Drilling will continue into deeper zones, with assays due next month expected to provide clearer insights into the scale of mineralisation.
Strategic Context: A Gold-Antimony Power Play
Antimony, a critical mineral with applications in battery technology and flame retardants, remains a key focus alongside gold for the Hillgrove Project. Larvotto’s gold-equivalent calculation assumes US$2,200/oz gold and US$15,000/tonne antimony prices, both of which are conservative compared to current market rates. This highlights the potential upside for project economics as the company progresses.
Hillgrove’s existing infrastructure, including a processing plant, positions Larvotto to fast-track development. Antimony, with its strategic importance, could attract interest from downstream users, adding a layer of resilience to the project’s financial model.
What’s Next?
With two diamond drill rigs turning at Hillgrove and a stream of assay results due in December, Larvotto plans to ramp up exploration into 2025. The next steps include a resource update for Clarks Gully and an expanded exploration push at Bakers Creek. The company is also eyeing underground mining scenarios, particularly at Clarks Gully, where deeper mineralisation trends have emerged.
Bottom Line
Larvotto’s latest results underscore the potential of Hillgrove as a dual gold-antimony powerhouse. As the world pivots toward critical minerals and resilient supply chains, the project appears well-placed to capitalise on rising demand. While investors will need to wait for assay confirmations and further resource updates, early signs point to a promising trajectory for Larvotto Resources.
