Larvotto Resources Limited (ASX:LRV) has formally exercised its option to acquire the Blockade Copper Mine, securing exclusive rights to explore and develop the asset. This decision follows a successful due diligence reverse circulation drilling program that validated historical data and confirmed persistent copper mineralisation within the site’s granted mining lease. The company intersected 31m at 1.16% Cu from 63 metres depth, with additional high-grade zones including an 8-metre interval at 1.86% copper.

Located 41 kilometres from Mount Isa in Queensland, the project is situated within the company’s existing Mt Isa tenements. Larvotto is executing a strategy to build a regional hub-and-spoke copper production system in the district, leveraging the location’s historical production profile to expedite potential future output. The presence of existing, granted infrastructure on the mining lease is viewed as a significant operational advantage for rapid development.

"Blockade is a cornerstone development for our wider Mt Isa copper strategy; a granted mining lease with a history of production, high-grade mineralisation confirmed to be open along strike and down dip, sitting squarely within our existing tenure."

"With our due diligence drilling having confirmed broad, continuous mineralisation to depth which delivered strong copper grades our focus now is to proceed to resource definition and to understand the full scale of what we have at Blockade."

— Ron Heeks, Managing Director

The drilling program, which spanned 1,330 metres, confirmed that mineralisation remains open at depth and along strike. Beyond copper, the company identified elevated cobalt values, reaching up to 0.14%. Larvotto will now transition toward resource definition work to fully assess the mineralisation scale and confirm the economic viability of the project as it integrates the site into its broader operational plans for the region.

Read the full announcement: Blockade Copper Mine Option Exercised