The project’s current – and maiden - ore reserve is 606,000 gold equivalent (AuEq) ounces grading 6.0g/t AuEq, while the total mineral resource amounts to 1.7 million AuEq ounces at a grade of 7.4g/t AuEq.

Given Larvotto’s ongoing exploration program across multiple fronts, the current resource appears to have considerable upside, particularly in light of ongoing high antimony and gold prices which are currently trading at $US2570 (A$4172) per ounce of gold, with antimony changing hands at around US$38,500 (AS61,859) per tonne.

Additionally, the project’s current conceptual exploration target sits between a handy 670,000 and 1.08m gold equivalent ounces in a grade range from 7.4g/t to 8.46g/t AuEq.

In August, Larvotto delivered a compelling pre-feasibility study highlighting the financial and near-term gold and antimony development potential of the project and conceived an annual production target of more than 80,000 AuEq ounces.

Wogan and Xcelsior senior staff have undertaken extensive due diligence over the project, including site visits by senior staff and other independent experts, which resulted in a strong endorsement of both the project’s quality and its potential.

Larvotto will initially produce three products from Hillgrove and will be producing gold doré bars for refining, antimony concentrate and gold concentrate.

The antimony concentrate will be sold to Wogen.

It is proposed the bars will be sold directly to a gold refinery to produce high quality 99.999 gold bars.

The gold concentrate from Hillgrove will also be sold to a separate specialist off-take company, which will either sell the concentrate or, in some cases, refine the gold in-house, depending upon the selected off-take partner.

Larvotto has had a standout 2024 striking one of the most significant discoveries by an ASX-listed company this year. The company’s share price has boomed accordingly, peaking above 76c from 7c in January.