Larvotto Resources (ASX:LRV) Reports Strong Drilling Results at Clarks Gully, Shares Surge 12%

2 min read | December 17, 2024 12:28 PM AEDT | By Team Kalkine Media

Larvotto Resources (ASX:LRV) Reports Strong Drilling Results at Clarks Gully, Shares Surge 12% — Image source: Shutterstock

Key Results of Drilling Program

Notable Results:
- CLG124: 22m @ 9.87g/t AuEq (3.26ppm Au, 2.89% Sb), including:
  - 15m @ 12.26g/t AuEq
  - 10m @ 16.76g/t AuEq
  - 4m @ 28.31g/t AuEq
- CLG122: 16m @ 10.63g/t AuEq (4.48ppm Au, 2.70% Sb), including:
  - 6m @ 17.38g/t AuEq
- CLG123: 17m @ 3.07g/t AuEq (1.50ppm Au, 0.69% Sb), including:
  - 3m @ 7.02g/t AuEq
Resource Expansion Potential: Results indicate that Clarks Gully extends beyond the current resource both along strike and at depth.

Project and Results Overview

The Clarks Gully RC drilling program, designed to infill and expand the existing resource, has successfully identified significant high-grade mineralisation zones. The results reveal consistent gold (Au) and antimony (Sb) grades across wide intercepts, underscoring the project’s bulk-tonnage potential.

Drill hole CLG124 delivered standout results, including 22 metres grading 9.87g/t AuEq, with a 4-metre section reporting an exceptional 28.31g/t AuEq. Similarly, hole CLG122 intersected 16 metres at 10.63g/t AuEq, demonstrating the continuity of mineralisation.

Investor Response

The announcement has bolstered investor confidence, driving LRV’s share price up nearly 12% to 48.5 cents. Market enthusiasm reflects the potential resource growth and the promising exploration upside at Clarks Gully.

Outlook

The strong assay results pave the way for further drilling and resource expansion at Clarks Gully. With an updated Mineral Resource Estimate (MRE) slated for early 2025, Larvotto Resources is well-positioned to unlock additional value from its Hillgrove Project.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.