23/06/2021 - 12:00

Latitude racks up solid gold hits in WA’s Murchison district

23/06/2021 - 12:00

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Latitude Consolidated continues to return encouraging gold hits from an RC drilling campaign near the former Andy Well underground mine at its Murchison gold project in WA. Best of the latest reported drill intersections came from the Margaret prospect, including 3m at 2.52 g/t gold from 136m containing 1m at 7 g/t and 9m at 1.14 g/t from 150m with 2m at 3.09 g/t.

ASX-listed Latitude Consolidated continues to return encouraging gold hits from a 10,000m phase-one reverse circulation drilling campaign near the former Andy Well underground mine at its Murchison gold project in WA. Best of the latest reported drill intersections came from two holes at Andy Well’s Margaret prospect. They were 3m grading an average 2.52 grams per tonne gold from 136m including 1m at 7 g/t and 9m going 1.14 g/t from 150m including 2m at 3.09 g/t.

According to the Perth-based explorer, assays from Margaret indicate continuity of gold mineralisation over about 100m of strike in the footwall of the high-grade Suzie mineral resource.

Latitude says Margaret remains open at depth and drilling points to the width of the mineralisation increasing at depth.

A measured, indicated and inferred resource estimate of 1.8 million tonnes averaging an enviable grade of 8.7 g/t for 505,000 ounces of contained gold has been assigned to Andy Well, in the state’s Murchison Goldfields.

Remnant resources at Andy Well encompass the Suzie, Judy, Wilber and Jenny lode deposits.

Latitude’s current drilling program is also testing the Margaret, Eastern Link and Highway prospects, among others.

Andy Well coughed up an impressive 330,000 ounces of gold between 2013 and 2017 for previous owner Doray Minerals from high-grade underground ore that averaged a grade of about 8 g/t.

Latitude is looking to systematically test several gold prospects across its Murchison project – taking in Andy Well and the Turnberry open-pit deposit about 10km away – with a view to identifying priority targets in preparation for its planned phase-two drilling later this year.

The company interprets the grade and width of mineralisation at Margaret as improving below a weathered surface profile that it says is consistent with mineralisation at nearby Judy South.

Although Judy South mineralisation lacks continuity of grade in the weathered oxide and transitional zone to a depth of about 50m from surface, Latitude says in the underlying fresh rock it is more continuous and a mineral resource has been delineated to a depth of 500m below surface.

With the continuity of mineralisation appearing to be confirmed at Margaret, the company now plans to undertake further drilling targeting the steeply plunging high-grade Margaret shoot during the phase-two exploration program.

Latitude Consolidated Chief Executive Officer Tim Davidson said: “Importantly, data generated from this (phase-one) program is allowing our technical team to establish a better understanding of the mineralisation within our extensive tenure. To date we have confirmed the new interpretation of the Suzie North mineralised trend to be correct, and while we have more drilling to do at Margaret to test the depth potential of this mineralisation, these latest results indicate the presence of a structure analogous to Judy South, which was successfully mined by Doray.”

Latitude’s overall mineral resource inventory at the Murchison project including Turnberry stands at an indicated, inferred and measured 13.1Mt at an average grade of 2.6 g/t for 1.11 million ounces of contained gold.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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