Larvotto adds fresh gold-antimony firepower to NSW project

Larvotto Resources has again underlined the growth potential of its Hillgrove antimony-gold project in New South Wales after diamond drilling at the company’s Clarks Gully prospect returned further high-grade mineralisation at depth, along strike and to the north - with a dash of tungsten for good measure.

The company drilled three near-mine exploration holes at the target during October and November 2025, completing more than 500 metres of drilling. The program was designed to test the depth and strike extensions of known antimony-gold mineralisation, with a focus on potential splays and parallel lodes. The program was also used to validate geophysical targets identified in earlier surveys.

Standout intercepts included 6.4 metres at a hefty 12.92 grams per tonne (g/t) gold equivalent from 208m, with 4.1 metres of that interval grading an eye-catching 19.76g/t gold equivalent. 

That hole intersected what the company believes could be a new parallel lode in the footwall of the main Clarks Gully structure, pointing to additional near-mine growth potential and warranting further follow-up drilling.

Another hole returned 8m going 8.35g/t gold equivalent from 160m, including a blistering 1.6-metre slice running at 22.81g/t gold equivalent from 160.4m.

The second drill hole targeted an untested resistivity anomaly in the northern part of the Clarks Gully system, with results confirming mineralisation directly associated with the geophysical response. Notably, Larvotto says the newly identified zone remains open, highlighting further upside.

Beyond gold and antimony, drilling also delivered encouraging tungsten results associated with the antimony-gold lodes. Notable intercepts included 0.4m grading 2.97 per cent tungsten from 192.4m and 2.4m running at 1.53 per cent tungsten trioxide from 60.9m.

Hillgrove already hosts a tungsten resource of 4774 tonnes of contained tungsten at a grade of 0.05 per cent, predominantly within the Freehold and Brackins Spur prospects, both of which remain open for expansion.

Larvotto Resources managing director Ron Heeks said: “The results from Clarks Gully have strengthened our understanding of the mineralised system, confirming both the continuity of antimony and gold mineralisation to the north and high-grade zones at depth.”

Larvotto says the drilling and geological data collected have significantly improved its understanding of the controls on mineralisation and reinforced the system’s potential to grow both north and south along strike. Further drilling at Clarks Gully is planned in 2026.

The company currently has four diamond drill rigs operating across the Hillgrove project, with active programs underway at its Metz and Freehold prospects. At Metz, drilling is focused on defining the convergence of the Blacklode and Syndicate structures, testing extensions beneath historic workings and chasing multiple stacked, high-grade zones near existing underground infrastructure.

At Freehold, drilling continues to probe historic workings and extensions to known mineralised structures, with additional testing planned at the company’s Smiths, Freehold East and Swamp Creek prospects.

Meanwhile, Larvotto’s march towards production continues at pace. 

Construction of its 525,000-tonne-per-annum processing plant is well advanced, with first gold and antimony pours slated for the second quarter of this year. The build is fully funded through a US$105 (A$158) million senior secured bond and a fresh A$60 million equity raise, locking in the A$140 million capital bill.

The company also recently locked in MACA-Interquip-Mintrex to refurbish and expand the plant and appointed underground mining specialist PYBAR under a four-year development contract.

Hillgrove’s proximity to Armidale, just over an hour by sealed road, gives Larvotto a clear logistical and cost advantage. The regional centre offers an established workforce, accommodation, services and transport links. Meanwhile, existing road access, power and communications infrastructure have helped reduce capital spend, streamline construction and allow mine equipment to roll in quickly as the project moves into production.

With expected annual production of 40,500 ounces of gold, 4878 tonnes of antimony and a scheelite concentrate kicker, Larvotto looks to be positioning Hillgrove as one of the Western world’s rare multi-commodity critical metals producers - just months from first pour. 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au