Larvotto Resources has harnessed the smarts of geophysical surveying to identify its next drill targets at the Ohakuri gold project in New Zealand.
The aim of Larvotto’s recent electrical resistivity tomography (ERT) and induced polarisation (IP) geophysical survey was to infill and refine previous geophysical surveying completed at Ohakuri.
Larvotto is looking to gain greater clarity around the location of potential Ohakuri and Maleme gold feeder conduits.
“These gold conduits have potentially provided mineralisation to the very thick zones of lower grade mineralisation that cover an extensive area within the central portion of the prospect,” Larvotto said in a statement.
Historical drilling at Ohakuri has delivered broad gold zones, demonstrated by intersections such as 172m at 0.41 grams per tonne (g/t) gold, 160m at 0.32g/t and 215m at 0.21g/t.
“Previous drilling of the large, lower-grade gold mineralised zones and follow-up wide spaced E-SCAN geophysics all highlighted the potential of Ohakuri to host significant epithermal gold mineralisation,” Larvotto managing director Ron Heeks said.
“This survey successfully refined historical broad geophysical targets into robust targets for drilling. As soon as a diamond drill rig can be sourced, we will start drilling.
“Nearly all the 10,000m of previous drilling failed to intersect the potential gold feeder zones that emanate from the deep source rocks below Ohakuri. We will target these missed feeder zones in the upcoming drilling.”
Ohakuri is one of three projects Larvotto owns, all of which are located in Tier 1 jurisdictions.
Larvotto’s Eyre project in Western Australia is an early-stage exploration opportunity with the potential for gold, copper, nickel, lithium, rare earths and platinum group elements (PGEs) discoveries.
The company recently received a $3.4 million cornerstone investment from Canadian institutional fund Lithium Royalty Corp. (LRC) and Waratah Capital through its Electrification and Decarbonisation Fund (E&D Fund).
The three-tiered royalty, equity and offtake (REO) agreement comprises a $700,000 cash payment to be made by LRC for a 1 per cent gross revenue royalty over lithium and all other pegmatite materials from the Eyre project.
LRC will also make a $700,000 cash payment for 20 per cent of Eyre’s life-of-mine offtake for any lithium materials (including lithium ore, concentrates, sulphates and chemicals).
Larvotto also has its Mt Isa project nearby Glencore’s Mt Isa Mines operation, which spans approximately 900 square kilometres and is prospective for copper, gold and cobalt.