Heeks said given the company has demonstrated the increasing grade with depth from recent drilling, it believed its estimate to be “realistic”.

The exploration target at Eleanora-Garibaldi accounts for a 900m known strike length. It could contain between 1.43 and 1.71 million tonnes of mineralised material grading between 5.78g/t and 6.25g/t gold equivalent, translating to between 266,000 and 344,000 contained ounces.

Management noted that the down-dip extension of the Garibaldi workings towards the Brackins Spur target remains largely untested and represents a zone of interest for future exploration.

At Metz, between 1.38 to 1.84 million tonnes at a whopping grade of between 9.1g/t and 12.46g/t gold equivalent has been estimated in the exploration target. It equates to between 404,000 and 737,000 ounces of gold equivalent.

Mining at Hillgrove can be traced back to the 1870s, with more than 740,000 ounces of gold and about 40,000 tonnes of antimony produced from historical operations. It is believed to be Australia’s biggest antimony deposit and possibly one of the largest in the world.

Larvotto acquired Hillgrove late last year for a bargain purchase price of less than $6 per ounce. Notably, the project includes a processing plant with 250,000 tonnes per annum capacity, as well as associated infrastructure.

According to the company, more than 15km of untested mineralised trends are found within the 254-square-kilometre landholdings, with all prospective exploration areas in proximity to the processing plant.

The vast exploration target at Hillgrove appears to be a boon for Larvotto as the company looks to add even more ounces to its hefty resource base at the project. If recent drilling at Bakers Creek is anything to go by, the group’s gold and antimony hunt in NSW has only just begun.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au