Larvotto Resources Uncovers Major Tungsten Discovery at Exploration Site

Initial Resource Shows Compelling Value

Larvotto Resources (ASX:LRV) has announced an initial tungsten Mineral Resource of 4,774 tonnes WO3 from 8,766kt at 0.05% WO3 at the Hillgrove Project in NSW. This resource was calculated from within the same mineralisation zones that host the project's gold and antimony deposits, demonstrating the multi-commodity potential of the asset.

Key high-grade zones identified include:

• Brackins Spur: 2,111kt at 4.3 g/t Au, 0.9% Sb and 0.16% WO3, including high-yield zones of 40kt at 1.6% WO3 (containing 627t WO3)
• Clarks Gully: 350kt at 2.2 g/t Au, 1.8% Sb and 0.06% WO3, containing high-yield zones of 125kt at 0.17% WO3 (213t WO3)

Tungsten (found mainly in the mineral scheelite) has historically been mined alongside gold and antimony at Hillgrove but has never been the focus of exploration or included in resource calculations until now. Furthermore, recent high-grade antimony discoveries in the mining sector highlight the growing importance of these critical minerals.

Tungsten: A Strategic Critical Metal

Tungsten is a highly durable metal with the highest melting point of all pure metals, making it essential for numerous industrial applications:

• Manufacturing cutting tools and high-speed steel
• Creating wear-resistant coatings
• Components in defence applications
• Superalloys for extreme environments

Current tungsten prices are approximately USD$48,000 per tonne, significantly higher than historical levels, creating what Larvotto Resources tungsten discovery describes as a viable by-product opportunity alongside their gold and antimony production.

What is Tungsten and Why Does it Matter?

Tungsten (W) is a grey-white metal with exceptional durability and the highest melting point of all pure metals. It is commonly reported as tungsten trioxide (WO3), which is more stable and easier to handle in processing and manufacturing.

The metal's unique properties make it strategically important for modern industry and technology:

This combination of properties has led many countries, including Australia, to classify tungsten as a critical mineral—essential for economic and national security. This trend is also reflected in recent rare earth project advancements as nations seek to secure strategic mineral supplies.

Ready-Made Processing Solution

One of the most compelling aspects of this Larvotto Resources tungsten discovery is that the existing Hillgrove process plant already has a tungsten gravity circuit in place, which could allow for rapid commercialisation with minimal additional capital investment.

Managing Director Ron Heeks highlighted this advantage: "While Hillgrove has been historically known for its wealth of high-grade antimony and gold mineralisation, there is an exciting tungsten opportunity that exists at the Project. Now that the DFS is complete, we will assess other opportunities to add further value at Hillgrove, including tailings retreatment for gold, antimony and tungsten as well as tungsten as a mining by-product."

Exploration Results Show High-Grade Potential

Drilling results from the key resource areas demonstrate the significant tungsten mineralisation:

Clarks Gully highlights:

• CLG026: 4m @ 1.97% WO3 from 115m
• CLG035: 3m @ 1.17% WO3 from 129m
• CLG087: 4m @ 2.00% WO3 from 107m

Brackins Spur highlights:

• BRK003: 2m @ 1.32% WO3 from 127m and 3m @ 1.67% WO3 from 165m
• BRK010: 2.7m @ 1.58% WO3 from 230m

The company has also identified tungsten mineralisation at the Metz area, where drilling has revealed significant values including 2.5m @ 2.71% WO3 from 121.5m (BLS038). Similar exploration success has been seen in other regions with companies confirming sulphide mineralisation at their project sites.

Understanding the Resource Distribution

The current resource has been defined at three key areas within the Hillgrove Project:

1. Clarks Gully: Contains 327 tonnes of WO3 within a resource of 647kt at 2.1 g/t Au, 1.6% Sb and 0.05% WO3
2. Brackins Spur: Contains 3,465 tonnes of WO3 within a resource of 2,111kt at 4.3 g/t Au, 0.9% Sb and 0.16% WO3
3. Metz Area: Contains additional tungsten resources identified across the Syndicate, Sunlight and Blacklode Prospects

The tungsten mineralisation often occurs as lenticular pods of scheelite in quartz veins and structures which also host the antimony and gold mineralisation. This spatial relationship creates an opportunity to extract tungsten as a by-product of the planned mining operations.

Why This Matters for Investors

This Larvotto Resources tungsten discovery provides several potential catalysts:

1. Enhanced project economics: With tungsten prices at around USD$48,000/t, even modest recovery rates could significantly improve the overall economics of the Hillgrove Project.

2. Supply chain security: As a critical mineral, tungsten is valuable in sovereign supply strategies, potentially allowing Larvotto to secure preferential treatment or government support.

3. Existing infrastructure advantage: The presence of an already-built tungsten circuit in the processing plant dramatically reduces capital requirements to bring the resource into production.

4. Exploration upside: The company noted that tungsten has never been a focus historically, suggesting significant potential to expand the resource through targeted exploration.

5. Multiple commodity resilience: Adding tungsten to the gold and antimony production portfolio creates a more robust business model less susceptible to price volatility in any single commodity.

Detection and Technical Analysis

Larvotto has implemented innovative techniques to identify and assess tungsten mineralisation at Hillgrove:

• UV light detection: Scheelite (the primary tungsten mineral at Hillgrove) fluoresces brightly under ultraviolet light, making it easily identifiable in drill core and chip samples

• Coincident mineralisation mapping: The tungsten is often associated with gold and antimony mineralisation but doesn't always directly correlate, requiring sophisticated modelling techniques

• Resource categorisation: The current tungsten resource includes Measured, Indicated and Inferred components, with the highest confidence areas having closer-spaced drilling typically under 30m x 30m spacing

The company has established rigorous QAQC (Quality Assurance/Quality Control) procedures for tungsten analysis, which includes using appropriate analytical methods for different concentration ranges. Other mining companies have also been reporting high-grade gold strikes using similar quality control measures.

Next Steps

Larvotto Resources plans to pursue several initiatives to further develop the tungsten potential at Hillgrove:

1. Detailed metallurgical studies focused on tungsten recovery, having completed its Definitive Feasibility Study (DFS) for gold and antimony production

2. Examination of tungsten potential in other areas of the project, including tailings retreatment options

3. Implementation of additional drill-core and RC chip logging procedures utilising ultraviolet light to identify scheelite mineralisation

4. Assessment of the economic potential of tungsten as a by-product revenue stream to further de-risk the Hillgrove operations

Recent advances in exploration methods, including the use of ultraviolet light to identify scheelite (which fluoresces brightly), will help accelerate this exploration program.

Investment Perspective

For investors, this announcement transforms Larvotto from a dual-commodity producer into a potential three-metal operation targeting critical minerals. The company's market position is further enhanced by its access to existing infrastructure and the growing importance of tungsten in high-tech applications.

With Chinese producers currently dominating the global tungsten market, Larvotto's Australian resource offers both geographic diversification and supply chain security for Western industrial needs, potentially commanding premium pricing. This development follows a trend of significant copper discoveries in Australia that are reshaping the country's mining landscape.

The fact that this new resource comes without requiring significant additional drilling or exploration costs suggests Larvotto has uncovered substantial hidden value within its existing asset base at Hillgrove.

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