Larvotto Resources has unveiled an initial exploration target for the Midas Lode at its Hillgrove antimony-gold project in New South Wales, highlighting what the company describes as a significant near-term growth opportunity for the operation.
The preferred exploration target for Midas stands at 3.95 million tonnes (Mt) grading 5.16 grams per tonne (g/t) gold equivalent, containing an estimated 656,000 ounces of gold equivalent. The broader target range spans between 223,000–2.95 million ounces of gold equivalent, with grades ranging from 2.58–8.55g/t of gold equivalent and tonnage estimates between 2.7–10.7Mt.
“Midas Lode represents one of the most important near-term growth opportunities at Hillgrove,” Larvotto Resources managing director Ron Heeks said. “Midas is accessible from surface and from existing underground development, giving us a clear pathway to test and potentially convert this opportunity well ahead of deeper targets across the field.”
Importantly, the company said the target is conceptual in nature and there has been insufficient exploration to estimate a mineral resource. It remains uncertain whether further exploration will ultimately result in a mineral resource estimate.
The Midas Lode extends over a potential strike length exceeding 900m and has been drill tested to a depth of 560m. Mineralisation remains open to the north and at depth. The target sits directly along strike from the Syndicate Lode, which is currently the focus of mining activities and has been defined to approximately 900m below surface through drilling and historical workings.
Heeks said drilling has confirmed high-grade gold-antimony-tungsten mineralisation along strike, with the trend remaining completely open.
Larvotto believes Midas could materially extend Hillgrove’s mine life, complementing the company’s existing exploration target of 670,000 ounces to 1.08 million ounces of gold equivalent below current underground operations. With three surface rigs and one underground rig active, the company is targeting further resource growth as it advances toward planned production.
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