Larvotto Resources is on track for mid-2026 production at its Hillgrove Antimony-Gold Project, backed by robust drilling results, plant refurbishment progress, and promising tungsten recovery. The company also expands its copper portfolio with a strategic option on the Blockade Mine in Mt Isa.
- Hillgrove plant refurbishment and underground development progressing on schedule
- High-grade antimony-gold drilling results confirm resource growth potential
- Tungsten metallurgical testwork shows ~90% recovery, adding a third payable product
- Exclusive option secured for Blockade Copper Mine acquisition in Mt Isa
- Non-binding takeover bid from US Antimony Corporation rejected
Hillgrove Project Nears Production
Larvotto Resources Limited (ASX – LRV) has reported significant progress in advancing its flagship Hillgrove Antimony-Gold Project in New South Wales towards first production, targeted for mid-2026. The company’s December 2025 quarterly update highlights steady plant refurbishment works and the commencement of underground development by PYBAR Mining Services, both proceeding on schedule and within budget.
Hillgrove stands as Australia’s largest antimony deposit and ranks among the world’s top ten globally. With a resource base of approximately 1.7 million tonnes at 7.4 grams per tonne gold equivalent, the project is poised to become a key supplier of antimony; an increasingly strategic mineral recognised by the Australian Government’s $1.2 billion Critical Minerals Strategic Reserve.
Strong Drilling Results Reinforce Resource Upside
Larvotto’s extensive drilling campaigns across multiple Hillgrove mining centres, including Metz, Clarks Gully, Freehold, and Eleanora-Garibaldi, have delivered high-grade intercepts that underscore the scale and growth potential of the antimony-gold mineralised system. Notable results include intercepts such as 15 metres at 5.24 g/t AuEq and 6.4 metres at 12.92 g/t AuEq, with mineralisation remaining open along strike and at depth.
Importantly, drilling has also identified significant tungsten mineralisation spatially associated with the antimony-gold lodes. Metallurgical testwork has demonstrated encouraging tungsten recoveries of approximately 90%, suggesting tungsten could become a valuable third payable product alongside antimony and gold, enhancing the project’s economic outlook.
Strategic Expansion into Copper with Blockade Option
Beyond Hillgrove, Larvotto has secured an exclusive option to acquire the historic Blockade Copper Mine in Queensland’s Mt Isa region. This granted mining lease covers 152.7 hectares and is strategically positioned within Larvotto’s broader Mt Isa tenement footprint. Historical drilling and mining activities have confirmed the presence of high-grade copper mineralisation, including deeper sulphide zones.
Larvotto has initiated a due diligence drilling program at Blockade to validate historical data and assess extensions to known mineralisation. Success here could provide a near-term development opportunity, diversifying Larvotto’s portfolio into copper alongside its antimony and gold assets.
Corporate and Financial Position
The company firmly rejected a non-binding takeover bid from US Antimony Corporation, deeming the offer undervalued relative to Hillgrove’s advancing prospects. Financially, Larvotto is well-positioned with a strong cash balance of A$70.3 million and access to a US$105 million senior secured bond facility, from which it has drawn down US$31.5 million to fund ongoing construction and development activities.
Larvotto continues to engage closely with government stakeholders, reflecting the project’s strategic importance, and maintains active community engagement initiatives, including cultural and environmental programs at Hillgrove.
Looking Ahead
With multiple diamond drill rigs planned to operate in 2026, Larvotto aims to further expand its resource base at Hillgrove, targeting near-mine extensions and new zones of mineralisation. The integration of advanced technologies such as the ECORE core scanning system is expected to accelerate geological and metallurgical insights, supporting efficient mine planning and processing optimisation.
As Larvotto advances towards commissioning and production, the company’s diversified mineral portfolio and robust financial footing position it well to capitalise on growing demand for critical minerals in clean energy and technology sectors.
Bottom Line?
Larvotto’s steady execution at Hillgrove and strategic copper expansion set the stage for a transformative 2026.
Questions in the middle?
- How will upcoming resource and reserve updates impact Larvotto’s valuation and mine life projections?
- What are the economics and market potential of tungsten as a by-product at Hillgrove?
- Will the due diligence drilling at Blockade support a full acquisition and near-term copper development?