Larvotto Resources (ASX: LRV) has unveiled an Exploration Target of up to approximately 1.08 million ounces gold/silver equivalent (AuEq) for its Hillgrove mineral field in NSW.
The estimates range between approximately 7.4 and 9.46 g/t AuEq. This is in addition to the existing significant Mineral Resource of 1.4M oz @ 6.1g/t AuEq.
The Exploration Target for the Hillgrove project is confined to potential mineralisation located directly below areas of the current resources which are themselves below historic workings that have a known production history.
It will be used as a guide to target ongoing exploration, while beginning to demonstrate the upside of the project area.
Managing Director, Ron Heeks, said the company is looking to including further areas into the Exploration Target in the future.
“Identifying an initial Exploration Target of between approximately 670,000 to 1.1Moz AuEq is an excellent result. This Target is in addition to the existing 1.4 Moz high grade resource at Hillgrove,” he said.
“Our ongoing evaluation of the extensive Hillgrove landholding continues to demonstrate the exploration upside which exists at this exceptional project. For this exercise, Larvotto has simply extended the known mineralisation of the several previously mined zones to the depth of the deepest resource in the field using historical mining and resources numbers to achieve the initial Hillgrove Exploration Target.
“Given we have previously demonstrated the increasing grade with depth of the mineralisation from recent drilling we believe that the estimate is realistic, although it does not include the potential of many other zones in the Hillgrove area at this stage. “Our recent focus on the areas surrounding and between historic mining areas has identified several exciting opportunities which could add further resources to our near-term profile at Hillgrove.
“The initial exploration target is another positive outcome for our Hillgrove exploration team following the exceptional high-grade results we announced last month from the recent diamond drilling program at Bakers Creek. We are looking forward to further work to define the target and planning future exploration programs to grow the project.”
