Larvotto Resources (ASX:LRV): What Freehold’s Deeper Drilling Adds to Hillgrove

Aditi Sarkar

11 November 2026 08:00 PM AEDT

Larvotto Resources (ASX:LRV): What Freehold’s Deeper Drilling Adds to Hillgrove

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Highlights

Larvotto reported the final 15 holes of a 31-hole Freehold diamond drilling programme.
The programme covered 7,893 metres within the Hillgrove project in New South Wales.
Reported mineralisation extends across more than 700 metres of strike.
Freehold exploration results do not automatically change the existing Hillgrove Mineral Resource.

Larvotto Resources Limited (ASX:LRV) is developing and exploring the Hillgrove Antimony-Gold Project in New South Wales, where its programme includes mine restart activity and drilling of nearby mineralised zones. On 11 November 2026, the company announced final Freehold drilling results. The release described a wider mineralised footprint and additional high-grade intersections, although those drilling results must be assessed separately from the project's formally reported mineral resources.

A Completed Programme at Freehold

The Freehold campaign comprised 31 diamond holes totalling 7,893 metres, with the final 15 holes now reported. Larvotto Resources Limited (ASX:LRV) states that identified mineralisation extends across more than 700 metres of strike, beyond the length associated with historical workings. The structures remain open to the south and at depth, pointing to areas that could be tested by further drilling.

An open mineralised structure does not establish its ultimate extent or economic value. Additional holes are needed to understand continuity, geometry and grade distribution, particularly where the latest intersections lie below the levels previously investigated.

Assays and Interpretation

Among the reported results, hole FRE042 intersected 10 metres grading 9.61 grams per tonne gold equivalent from 526 metres, including four metres grading 19.91 grams per tonne gold equivalent. Hole FRE038 returned nine metres grading 8.05 grams per tonne gold equivalent from 105 metres, including 4.4 metres at 13.53 grams per tonne.

Larvotto Resources Limited (ASX:LRV) also reported tungsten within the broader gold-antimony mineralised system. Gold-equivalent grades combine the assessed contribution of several commodities using defined price and recovery assumptions. They should not be confused with measured gold grades alone, and downhole intercept lengths must not be presented as confirmed true widths where that distinction has not been established.

Hillgrove Operations and Resource Boundary

Hillgrove has existing processing infrastructure, and Larvotto Resources Limited (ASX:LRV) announced its first concentrate shipment during October 2026. Freehold lies near the broader operation, providing a potential exploration link to existing infrastructure. However, proximity does not confirm that newly drilled material can be mined or processed profitably.

The Freehold zone is not included in the current Hillgrove Mineral Resource as described in the uploaded project material. Any future resource estimate would require formal geological modelling, sampling controls and the reporting standards applicable to mineral resources. A resource addition, if established, would still be different from an ore reserve or an approved mine plan.

Further Work and Technical Constraints

For Larvotto Resources Limited (ASX:LRV), the next geological task is to test whether the mineralisation connects between drill sections and continues at depth. Deeper underground targets may carry different extraction costs from shallower material, even where reported grades are substantial.

The company's operating programme must also balance exploration and processing commitments. Commodity prices, recovery performance and the cost of additional drilling can influence whether Freehold becomes a development priority. Until a formal resource assessment and further technical work are completed, the latest intervals are evidence of mineralisation rather than commercial reserves.

Key Insights

Larvotto Resources Limited (ASX:LRV) has completed a substantial Freehold drilling programme that extended the known mineralised footprint and reported notable gold-equivalent intervals. Those results support further geological assessment, but do not establish mineable reserves or guaranteed processing outcomes. Operational developments at Hillgrove and future resource work need to be evaluated as separate milestones.

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