Larvotto Resources is pushing the Hillgrove gold-antimony project in New South Wales towards production by mid-2026, while a much larger exploration prize may still lie beneath the historic mining district.
Hillgrove, located near Armidale in northern NSW, is set to become a rare new antimony producer at a time when supply of the critical mineral remains constrained, with the project expected to account for about 7 per cent of global antimony supply at full capacity.
However, as managing director Ron Heeks pointed out during his presentation at the Melbourne Mining Club (MMC) Cutting Edge Series this week, Hillgrove is more than a near-term production story.
While the current development of Hillgrove towards production amid strong antimony and gold prices has captured investor attention, Heeks reminded the MMC crowd that the project’s exploration upside should not be overlooked.
According to Heeks, the current mine plan represents only a small portion of the broader mineralised system identified across the project area.
“What we really need to do now is convince everybody that this is more than a seven-year operation,” he said.
Larvotto controls a substantial landholding around Hillgrove, with about 255 square kilometres of tenure across a historic mining district. Within that area, the company’s current mining licences cover about 14 square kilometres but host the existing resource and numerous underground workings.
“There’s at least 20km of strike of mineralisation in multiple zones and our current resources represent only a very small part of what’s actually happening across the project area,” Heeks said.
Larvotto’s exploration programs have largely focused on areas immediately surrounding the historic mines, leaving parts of the broader mineralised system relatively unexplored.
The company has outlined an exploration target of 670,000 to 1.08 million ounces grading 7.4–9.46g/t gold equivalent beneath the existing resource, highlighting the potential for further growth at Hillgrove.
“Our exploration ounces sit directly below the current workings and we haven’t extended them very far at all,” Heeks said.
Larvotto is confident the system will continue well beyond the depths currently drilled, with Heeks comparing its potential to another high-grade Australian gold operation.
“Deposits like this typically continue much deeper. You see the same sort of thing at places like Fosterville,” he said.
Deeper drilling results have already provided encouragement, including an intercept of 31 metres at 65.8 grams per tonne gold. Additionally, the project offers potential for further antimony mineralisation closer to surface.
“The old timers couldn’t do anything with the antimony, so they left it and went straight into the gold,” Heeks said.
Larvotto is continuing its exploration programs in parallel with development of the Hillgrove processing plant and underground, with four rigs operating across the project area.
The company is also investigating exploration opportunities across freehold land near the plant, including areas just over a kilometre away which currently sit outside its defined resources.
While Hillgrove’s pathway towards production is the focus of Larvotto’s near-term activities, the company believes the district-scale exploration opportunity could be just as significant.
With an extensive strike length, multiple mineralised zones and limited modern exploration across large parts of the project, Heeks emphasised the potential to expand the Hillgrove resource.
“A huge amount of work can be done across this system,” Heeks said.
Read more: Larvotto shines light on historic mine area
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