Latitude hits high grades at its Murchison Gold Project as new round of drilling begins
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The St Anne’s prospect at Latitude Consolidated’s 1.1Moz Murchison Gold Project is living up to expectations, with the final samples from its Phase 1 drilling program returning results of up to an ounce to the tonne.
The 1m samples of previously reported 4m composites are the last assays to arrive from Latitude Consolidated’s (ASX:LCD) first round of exploration at the vaunted gold asset, including a hit of 3m at 13.82g/t, with a 1m interval at 31.2g/t.
At 31g to a troy ounce, that makes for pretty reading for Latitude’s geologists, especially coming from just 103m downhole.
St Anne’s is a high priority greenfields target a few kilometres to the south of Turnberry, an open pittable resource containing some 610,000oz of gold.
It sets up Latitude for further success at St Anne’s, where aircore drilling is scheduled to take place during the company’s fully-funded Phase 2 drilling program this quarter.
“We are excited by the extremely high grades returned from St Anne’s which is an important exploration target for us,” Latitude CEO Tim Davidson said.
“Importantly, St Anne’s is our second drill location during our recently commenced Phase 2 drill program and we look forward to expanding on these results when drilling commences there in the December quarter.”
Latitude is also hitting paydirt at Andy Well, the high grade gold mine that produced 350,000oz at more than 8g/t for Doray Minerals.
Its latest results from the Judy North target, which already contains a gold resource of 141,000oz, have demonstrated its potential to continue at depth.
Drilling 70m downplunge of historic drilling delivered a best hit of 5m at 2.96g/t including 2m at 5.95g/t from 154m in the extension.
Meanwhile, at Suzie North, a target abandoned by Doray but rediscovered by Latitude after it turned the rigs around to hit mineralisation on its true orientation, 1m sample results showed the nuggety nature of the mineralisation.
Results were upgraded to 7m at 2.6g/t, including 1m at 14.45g/t from 121m in 21AWRC0003 and 1m at 6.69g/t from 84m in the same hole. That makes the discovery even more promising than when it was announced in June, when the same 7m section graded just 1.9g/t.
“The Andy Well results also demonstrate the very high grade, but extremely nuggety nature of the of the mineralisation with screen fire assay results uplifting the grade of one intercept by 50% and the 1m sample for another intercept in the same hole returning a grade of 6.69g/t, significantly higher than would be expected based on the 4m composite grade originally returned from the laboratory,” Davidson said.
“With this in mind, future drilling of the very high-grade mineralisation at Andy Well will primarily be performed with diamond drilling to allow the geology team to better interpret and sample the mineralisation.
“With these results in hand we look forward to rapidly progressing our Phase 2 drill program and updating our shareholders as we begin to receive assay results over the coming months.”
A scoping study is due in December before the preparation of a PFS early next year.
This article was developed in collaboration with Latitude Consolidated, 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.