Jumping ahead, Larvotto Resources picked up the 254 sq. kilometre venture in December 2023 for a discount $8 million and is now respiration new life into it.
With antimony costs almost doubling previously yr and gold hitting document highs, the timing couldn’t be higher. The firm is sitting on Australia’s greatest antimony useful resource, ranked eighth globally and is ramping up exploration to feed into its deliberate manufacturing restart in 2026.
Larvotto’s newest IP survey on the Freehold prospect is a major instance of its sensible, low-cost method.
Having engaged consultants Fender Geophysics, the corporate undertook a gradient-array IP and resistivity survey over a 16.5-hectare space, utilizing 396 electrode places alongside six 650m traces spaced 50m aside.
The setup was tweaked with 20m electrode separations and twin readings at 40m and 60m to probe deeper and refine future surveys.
The testwork builds on an analogous April 2025 program at Clarks Gully, 4.5km north of the mine infrastructure, the place mineralisation within the Hillgrove monzogranite confirmed distinct chargeable and resistive signatures.
At the Freehold prospect, which is hosted in metasediments, a part of this system’s goal was to check if host rocks affect the geophysical signatures and, if attainable, to map extensions of the sulphide-rich, silica-altered buildings usually related to mineralisation.
In a convincing proof-of-concept, the outcomes present a robust correlation with the historic Freehold workings, the place often sporadic and restricted previous mining has left loads of upside.
Standout anomalies embody a big resistivity excessive 350m east of the outdated mine workings that has by no means been drilled, and a smaller one southwest of the outdated mine. Both anomalies are parallel with the pattern of historic floor workings alongside strike.
The resistivity highs nearly definitely level to seemingly silicification, which has confirmed to be a dependable hallmark of antimony-gold zones throughout Hillgrove.
Chargeability additionally picked up the sulphide aspect of the mineralisation, displaying the IP/resistivity index could be a low-cost instrument for pinpointing targets.
With new targets in its sights, Larvotto promptly launched exploratory drilling at Freehold to check the geophysical responses within the context of the historic mining and exploration information in a bid to broaden the prospect’s potential within the present high-price atmosphere.
Larvotto Resources managing director Ron Heeks stated: “The Freehold survey highlights the potential of geophysics to focus on unknown and underexplored mineralisation at Hillgrove. The wonderful correlation between the resistivity highs alongside strike of recognized and partially mined mineralisation at Freehold is evident. This space has historic workings however has solely ever seen a couple of drill holes put into it.”
With greater than 200 outdated mines dotting the Hillgrove mineral area and an estimated exploration goal of 670,000 to 1.08 million ounces of gold equal at 7.4-9.46 grams per tonne, the brand new, comparatively easy and cheap geophysics could possibly be a path to attainable district-scale potential for the higher venture space.
Larvotto plans to broaden the gradient-array surveys over different precedence areas, equivalent to Metz, probably including dipole-dipole IP for 3D modelling to gauge depths to targets, earlier than following up with extra drilling on new anomalies.
Additionally, Larvotto revealed yesterday that it had acquired a $388,662 R&D Tax Incentive rebate from the federal government for final yr. The helpful money infusion recognises the corporate’s metallurgical R&D at Hillgrove, which centered on creating practicable restoration pathways for gold and antimony from in-situ ore and legacy tailings in its TSF1 facility.
Testwork exhibits tailings retreatment to be technically viable and would doubtlessly increase steel output and improve environmental rehabilitation by lowering the footprints of historic waste storage impoundments.
The indicated pathway could possibly be a wise transfer in a venture already greenlit with a $140 million growth capex, backed by a US$105 million (A$158 million) bond and eyeing about 85,000 ounces per yr gold equal manufacturing over eight years.
Larvotto is pushing forward with its spectacular portfolio of essential mineral belongings, from its high-grade antimony-gold Hillgrove operation to its Mt Isa copper-gold-cobalt play in Queensland and the Eyre multi-metals-lithium website close to Norseman in Western Australia.
Led by a workforce mixing exploration execs, financiers and environmental, social and governance consultants, the corporate is all about advancing initiatives with actual strategic punch.
As international demand for antimony surges – for the whole lot from batteries to flame retardants – Hillgrove’s revival might place Larvotto as a key Western provider.
With manufacturing set to begin in 2026, Hillgrove is poised to turn out to be Australia’s largest producer of antimony, anticipating to provide about 7 per cent of world antimony necessities at a time when international provide is tightening outdoors China and Western governments are prioritising strategic provide chains.
Larvotto’s profitable new geophysical search instruments, mixed with ongoing drilling, might simply prolong the venture’s already compelling story.
Is your ASX-listed firm doing one thing fascinating? Contact: mattbirney@bullsnbears.com.au
