Latitude66 turns up multiple targets at Finnish gold project

Latitude66’s diamond core drilling at its key KSB gold project in Finland has extended the company’s K8 prospect in both strike directions, with its latest results including a best run of 3.1m assaying 6.1 grams per tonne (g/t) gold from 41.8m.

That result, coupled with the second-best hit of 3.2m going 1.3g/t gold from 25m, point to extension potential at the southwestern and northeastern extremities of the mineralised trend.

The extension potential to the northeast is supported by the third-best diamond core hit of 1m running 0.99g/t gold from 59.3m.

Two down-hole electromagnetic (DHEM) conductor plates at opposing ends of the known mineralisation, defined by the current drill program, also suggest the potential for further strike extension in both directions.

Both the off-hole DHEM conductors are possible targets for follow-up drilling, which could further extend the shallow gold mineralisation at K8.

Additional support for the persistence of the trend comes from reprocessed magnetic data revealing multiple magnetic anomalies along the line of mineralisation. 

Notably, the inferred prospective trend appears to coincide with a second order linear shear off the major Kitka Fault lying 1km to the north. 

Results of previous work by the Geological Survey of Finland and Perth-based Belvedere Resources also highlighted K8’s potential for extension along strike and down-plunge.

Latitude 66 managing director Grant Coyle said: “Results from Lat66’s recent multi-phased exploration activities, including drilling, boulder sampling and downhole electro-magnetic surveys, across a number of prospect areas, highlight the potential to expand the existing mineral resource base within the broader KSB project. The exceptional results from the K6 prospect will enable us to develop a further drill campaign in the K North area which is close to the established resource at the KSB project.” 

The company has also been busy with the drill bit on other prospects. 

Two diamond holes for a total of 221.8m were put into the K10 prospect in a separate tenement block, about 15km southeast of K8, to follow up a previous result from a magnetite-rich mafic intrusive on an arcuate carbonate contact. It intercepted 4.8m assaying 4.1g/t gold and 0.12 per cent cobalt from 322.7m.

Results from the latest pair of holes include an intercept of 5m going 0.29g/t gold and 0.43 per cent cobalt from 88.8m. 

In other work, the K12 prospect saw two diamond holes put in for a total of 311m, both of which intersected massive pyrrhotite (iron) and minor chalcopyrite (copper) sulphide mineralisation over significant widths and remain open in all directions. 

Significant intercepts include 15m assaying 0.14 per cent copper and 0.05 per cent cobalt from 88m in one hole and 5m running 0.19 per cent copper and 0.05 per cent cobalt from 159m in the second hole.

At the K6E prospect in the northeastern tenement block, confirmatory boulder sampling of a prominent glacial fan by Latitude66 produced 3.1g/t gold and 0.03 per cent cobalt, accompanied by a second result of 1.6g/t gold and 0.01 per cent cobalt. 

Previous third-party sampling had given up high-grade results, with better results exceeding 15g/t gold, 53.7g/t gold and 32g/t gold, up to an impressive maximum of 490g/t gold. 

Following the boulder fan in the up ice-flow direction, the boulder distribution terminates hard up against a high-chargeability induced polarisation (IP) anomaly, which is thought to be the source of the anomalous boulder-hosted mineral signatures.

From the findings, the K6E prospect has become a high priority exploration drill target to be addressed as soon as practicable.

At the K6W prospect, about 2.5km west of K6E, several mineralised boulders with associated disseminated pyrite +/- chalcopyrite (iron and copper) sulphides have been identified during prospecting, mapping and rock chip/boulder sampling.

All the mineralised samples sit above an IP chargeability anomaly and the considerable size of individual boulders (>0.5m) and their angularity both point to a local source.

Many of the samples produced decent hits in gold, copper and cobalt, including 8.8g/t gold and 0.6 cobalt, 3.7g/t gold, 2.2g/t gold and 0.1 per cent copper, 0.8g/t gold and 0.3 per cent copper and 0.2g/t gold and 0.3 per cent copper.

Follow up of results from a recently discovered previous drill hole put in by the Geological Survey of Finland revealed intercepts of 2m assaying 1.5g/t gold, 0.04 per cent cobalt and 0.14 per cent copper from 37m and also 11m at 0.45g/t gold, 0.05per cent cobalt and 0.15 per cent copper from 53m.

While the hole sits about 25m southeast of the most recent boulder results and may not have intercepted the IP anomaly, it provides useful additional encouragement of the area’s prospectivity.

Latitude66 says its immediate future activities will be centred on progressing its KSB project resource scoping study, which is slated for delivery in the first quarter of next year. 

Additionally, drilling of the new K6 targets will augment planned drilling at K1 on the back of the structural geological review, from which results are expected in the coming weeks. 

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