Latitude 66 gears up for gold drilling at Edjudina

LAT to drill multiple highly prospective gold targets at the Edjudina project in WA
Drilling will test the Colossus, Falcon, and Hercules targets
Drilling is also underway at company’s 650,000oz gold-cobalt project in Finland

Special Report: Latitude 66 is gearing up to drill multiple, highly prospective gold targets at its promising Edjudina project near Laverton in WA this month.

The project contains thirteen granted exploration licences, one exploration licence application and two granted prospecting licences for a total land holding of around 1193km2 in the same region as the recently announced drilling activities of Kalgoorlie Gold Mining (ASX:KAL) and Matsa Resources (ASX:MAT).

The majority of the target areas at Edjudina have been generated through first pass geophysics (magnetics and gravity) together with soil sampling and AC drilling.

Notably, many anomalies are proximal to the Great Victoria Granite, the entire length of which Latitude 66 (ASX:LAT) says may be prospective for gold mineralisation, with over 30km untested by drilling.

This planned ~9000m aircore program, potentially followed up by RC drilling, will primarily test the following targets:

Hercules: 7km long soil anomaly (+10ppb gold) with grades up to 92 ppb
Falcon: 1.3km long soil anomaly (+25ppb gold) with grades up to 98ppb; and
Colossus/Spartan: Follow-up previous top of fresh rock AC intersections including 1m at 3.4g/t gold, 5m at 0.6g/t and 1m at 1.4g/t.

Perfect time for a gold discovery

The company says many of the target areas show potential for substantial upside given their scale and proximity to known mineral occurrences and supporting infrastructure.

“As part of our strategy to unlock latent value from our Australian assets, Lat66 is excited to be commencing a drilling program across multiple targets at the highly prospective Edjudina project in WA to follow up on previous work,” LAT managing director Grant Coyle said.

“With record high gold prices, it’s a rewarding environment for exploration success and Lat66 will commence drilling in March at both the KSB Project in Finland and now Edjudina in WA.”

Last month, the company kicked off RC drilling at its Kuusamo Schist Belt gold and cobalt project in Finland, which has a resource of 7.3Mt at 2.7g/t gold for 650,000oz and 0.08% cobalt for 5840t.

At Edjudina, LAT has also reached a drill for equity agreement with leading Kalgoorlie-based drilling company, Raglan Drilling, to provide drilling services on a 25% equity basis for the program.

“The accompanying drill for equity agreement with Raglan for the Edjudina program is assisting to maximise our exploration activities and provide shareholders with potential value creation on multiple fronts,” Coyle said.

This article was developed in collaboration with Latitude 66, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.