Larvotto Resources (ASX:LRV): Freehold Drilling Extends Hillgrove Exploration Ground

Aditi Sarkar

11 November 2026 10:52 PM AEDT

Larvotto Resources (ASX:LRV): Freehold Drilling Extends Hillgrove Exploration Ground

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Final diamond drilling assays at Freehold outline mineralisation beyond historical workings.
The Freehold and Freehold East structures remain open to the south and at depth.
Freehold is not part of the current Hillgrove mineral resource estimate.
Gold-equivalent values and downhole intersections require careful interpretation.

Larvotto Resources Limited (ASX:LRV) is developing the Hillgrove antimony-gold operation in New South Wales while conducting exploration around historic Mining areas. The latest 2026 Freehold results concern gold, antimony and tungsten mineralisation close to established project infrastructure. They expand the geological picture but do not yet add a defined mineral resource at Freehold.

Freehold Drilling Extends Beyond Historic Workings

Larvotto Resources (ASX:LRV) has reported the remaining assays from its diamond drilling programme at Freehold. Results indicate that the Freehold and Freehold East mineralised structures extend beyond the historic mining footprint and remain open in more than one direction. That establishes further exploration scope, but it does not establish mineable tonnage. Geological continuity will need to be tested at a density appropriate for resource estimation.

Freehold’s proximity to Hillgrove’s processing infrastructure makes it a practical area for geological investigation. Nonetheless, nearby infrastructure does not determine whether mineralisation can be mined profitably or treated economically. Any possible contribution to future plant feed would need resource modelling, metallurgical assessment and mine planning before it could be included in production assumptions.

How to Read the Intercepts

Results discussed by Larvotto Resources (ASX:LRV) include gold-equivalent intervals and observations of tungsten-bearing mineralisation. Gold-equivalent calculations combine metals using assumptions about their respective economic value and recoveries. The values therefore are not direct measurements of a single metal and should not be treated interchangeably with gold grades.

The drilling intersections are downhole lengths; where the company can estimate true widths, they may be narrower because of the orientation of the hole relative to the mineralised structure. Drill results at considerable depths also present different mining considerations from shallow intersections. Further modelling is needed to determine the true geometry of higher-grade zones and whether the mineralisation is continuous.

Antimony and Tungsten Add Complexity

Larvotto Resources (ASX:LRV) operates in a polymetallic setting where recoveries and processing Options may differ between gold, antimony and tungsten. The presence of more than one potentially saleable mineral can affect project value, but it also demands careful flowsheet design and appropriate Marketing assumptions. Exploration announcements do not themselves establish that each element will be recovered commercially.

The company has indicated that metallurgical testwork provides a basis for assessing tungsten recovery. However, translating testwork performance into a reliable mine plan requires representative material, sustained operating data and an understanding of how grade varies across the lodes. The mineralogical character of Freehold therefore matters alongside its geometric dimensions.

Resource Modelling Is the Next Test

Larvotto Resources (ASX:LRV) plans to incorporate the final drilling results into geological models and assess further exploration priorities at Freehold. Since Freehold remains outside the current Hillgrove mineral resource, any future addition would require a separate resource estimation process supported by appropriate technical work. Open-ended mineralisation signals an untested boundary, not an established extension of economic ore.

Next decisions will involve the balance between Freehold drilling and other near-mine opportunities. Assay interpretation and updated structural models may guide additional holes, particularly around plunging shoots and southern extensions. The significance for Hillgrove will depend on whether this work defines consistent mineralisation that can be studied in the context of the wider operation.

Key Insights

Freehold broadens the geological opportunities considered by Larvotto Resources (ASX:LRV), with gold-antimony-tungsten mineralisation reported beyond previous workings. Its potential role in Hillgrove remains conditional on continuity, mineral resource work and technical studies. The latest assays are exploration evidence, not a production forecast.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article 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 or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.