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- Australian exploration company Larvotto Resources (LRV) will begin drilling this week at its Mt Isa project in Queensland
- DDH1 will be undertaking the drilling which will target the Blue Star, Gospel and Portal Creek prospect areas
- Larvotto has also rescheduled the detailed induced polarisation survey at the Ohakuri Project in New Zealand which will aim to provide targets for follow-up diamond drilling
- Larvotto is also undertaking a detailed fixed loop moving electromagnetic survey at the Mt Norcott Prospect to test the depth potential for sulphide mineralisation
- Shares in Larvotto are down 1.85 per cent on the market and are trading at 26.5 cents at 12:19 pm AEST
Australian exploration company Larvotto Resources (LRV) will begin drilling this week at its Mt Isa project in Queensland.
Contractor DDH1 will be undertaking the drilling to target the Blue Star, Gospel and Portal Creek prospect areas.
These targets were identified via a geophysical fixed loop ground electromagnetic (EM) survey which identified multiple zones of near-surface mineralisation.
Drilling will consist of both reverse circulation (RC) and diamond drilling and dependent on drilling conditions, is expected to take up to four weeks to complete.
“The drilling program 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,” Managing Director Ron Heeks said.
“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.”
Larvotto has also rescheduled the detailed induced polarisation (IP) survey at the Ohakuri project in New Zealand which is set to begin later this month.
The aim of this survey is to provide targets for follow-up diamond drilling with the survey expected to take two weeks to complete.
“In New Zealand, we will be commencing the IP geophysical survey to identify high-priority targets for follow-up diamond drilling later this year,” Mr Heeks commented.
“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.”
Larvotto is also undertaking a detailed fixed loop EM survey at the Mt Norcott prospect within the Eyre Project to test the depth potential for sulphide mineralisation.
“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 four kilometres of strike,” Mr Heeks concluded.
Shares in Larvotto were down 1.85 per cent on the market and were trading at 26.5 cents at 12:19 pm AEST.
