Larvotto Completes First Drilling at Freehold Prospect, Reports Gold, Antimony and Tungsten Results

Larvotto Resources (ASX:LRV,OTC Pink:LRVTF) reported results for eight holes completed as part of a maiden drill program at the Freehold prospect within its Hillgrove antimony-gold project in New South Wales.

According to a Monday (November 17) release, the results show strong potential to grow Hillgrove, which the company believes is positioned to become Australia’s largest antimony producer.

Results from Freehold include 14 metres at 4.25 grams per tonne (g/t) gold equivalent from 89 metres, including 2.6 metres at 19.09 g/t gold equivalent from 99.4 metres, and 3.5 metres at 12.46g/t gold equivalent from 136 metres.

Larvotto also found tungsten results associated with antimony-gold mineralisation, reporting 0.6 metres at 2.23 percent tungsten trioxide from 76.7 metres and 0.5 metres at 3.43 percent tungsten trioxide from 154.8 metres.

“The results demonstrate consistent gold and antimony grades within and beyond the known lodes, and the presence of high-grade tungsten associated with the same structures, reinforce the multi-commodity potential of the Hillgrove system,” commented Larvotto Managing Director Ron Heeks.

The company added that with tungsten currently trading at record high prices, its presence is an opportunity to extract additional value for the project, “not just from Freehold but the majority of the current mineralised lodes.”

Located 23 kilometres east of Armidale in Northern New South Wales, Hillgrove currently holds a mineral resource of 1.7 million gold equivalent ounces at 7.4 g/t gold equivalent.

Gold and antimony mining at the site traces back to 1857, with Freehold said to be first mined in the late 1800s.

A definitive feasibility study published in May outlines average annual production of approximately 85,000 gold equivalent ounces over an eight year mine life.

The company said that drilling in the area will continue.

Subject to a final investment decision, Larvotto expects to restart antimony and gold production at Hillgrove in 2026.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.