Name of the Project
Hillgrove gold/antimony project.

Location
News South Wales, Australia.

Project Owner/s
Larvotto Resources.

Project Description
The Hillgrove mine operated for 30 years as an antimony-focused operation and 100 years prior as a successful high-grade gold mine. The project comprises surface infrastructure, which includes the process plant, power, roads, a decline and substantial underground development. 

A prefeasibility study has proposed production of 41 100 oz of gold and 5 400 t of antimony over a seven-year mine life.

This is the first time that gold and antimony will be targeted with equal priority at Hillgrove.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Using conservative gold and antimony prices of $2 000 and $15 000 respectively, the project has an estimated after-tax net present value, at an 8% discount rate, of $157-million and an internal rate of return of 49.6%, with a payback of two years.

Capital Expenditure
The project will cost less than $73.4-million to develop.

Planned Start/End Date
The project is targeting first ore by early 2026.

Latest Developments
An exploration drill rig is set to mobilise to the project.

This follows the receipt of drilling permits for a second exploration drilling programme.

The drilling programme will target infill drilling to about 20 m to increase confidence in the resource, and focus on a large, untested geochemical anomaly to the south of the Clarks Gully deposit, currently defined from surface to a depth of 200 m. 

The current measured and indicated resource is 266 000 t at 3.8% antimony and 2 g/t gold for 10.6 g/t gold equivalent

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Larvotto Resources, tel +61 8 6373 0112 or email info@larvottoresources.com.