Wedoany.com Report-Apr. 19, Larvotto Resources, an Australian resources company, has announced that the definitive feasibility study (DFS) for its Hillgrove antimony-gold project in New South Wales (NSW) is nearing completion, despite some delays due to engineering modifications. These modifications include shifting from a wet tailings storage facility to a dry stack landform and incorporating results from ongoing metallurgical tests to optimize the processing. These adjustments aim to reduce environmental impact while enabling progressive rehabilitation of the site.

Larvotto is also progressing with its exploration efforts, with four diamond rigs operating double shifts on-site.

The DFS will be based on conservative commodity price assumptions of $2,400 per ounce for gold and $25,000 per tonne for antimony. These assumptions are lower than the current market prices, which are above $3,100 per ounce for gold and $60,000 per tonne for antimony.

In addition to advancing the DFS, Larvotto Resources is making significant progress with its exploration activities at the site. Four diamond rigs are operating double shifts, and an expanded team of approximately 30 employees and contractors is actively working on-site. This team is focused on generating a steady stream of results related to mineralization and identifying future drilling targets.

To strengthen its relationship with the local community, Larvotto Resources has opened the Hillgrove Hub, a community engagement center. This facility serves as a central location for hiring local workers, providing residents with information, and allowing them to connect directly with the company. The center is located within the project area, which includes the towns of Armidale and Hillgrove.

Ron Heeks, managing director of Larvotto Resources, commented: “As the project progresses – with the DFS nearing completion and exploration activities ongoing – we are proud to be creating employment opportunities, supporting local businesses, and delivering critical minerals that will contribute to both the regional and national economy.”

In March 2024, Larvotto signed a non-binding term sheet worth $8 million (A$12.62 million) with Wogen Resources and Xcelsior Capital to support the advancement of the Hillgrove project.