Latitude kicks off drilling at Turnberry with high-grade resource growth in its sights
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Latitude Consolidated is ready to grow and boost its confidence in the gold resources at its 610,000 ounce Turnberry gold deposit in WA.
A major 8600m RC and diamond drilling program testing brownfields targets for near mine, high-grade mineralisation at Latitude’s (ASX:LCD) Murchison gold project is under way.
The Phase 2 program, funded with the proceeds of a $6.75 million capital raising in May, will target high grade areas of the Turnberry mineralisation, where previous drill hits have included wide intercepts as high as 10g/t.
Turnberry is the largest component of the 1.1Moz resource Latitude has outlined at the Murchison gold project, which also includes the high-grade Andy Well deposit mined by Doray Minerals before its merger with Silver Lake Resources.
Latitude will start its exploration efforts at the Turnberry South target, where it is aiming for a rich, south plunging high grade shoot, before drilling out the Turnberry Central area where high grades remain open at depth.
It expects to send samples to the labs in Perth on a weekly basis, with first assay results due in November.
“Our Phase 1 exploration program, which we completed earlier this year, was designed as an advanced greenfield program testing a number of areas on our tenure where previous exploration has shown there to be high-grade mineralisation,” Latitude CEO Tim Davidson said.
“Our drilling confirmed this and provided valuable information as we advance each of those prospects.
“Our upcoming Phase 2 exploration program is a very targeted brownfield drilling program focussing on the near mine high-grade mineralisation which is important for both growth and confidence in the resources as the company advances the project to development ready.
“We are exceedingly confident in the quality of our Murchison Gold Project, and I look forward to providing further updates over the coming weeks as the exploration program progresses.”
Latitude has what could be a Turnberry lookalike in its St Anne’s prospect, where high grade gold mineralisation was struck in first phase drilling.
Similar to Turnberry, the rocks at St Anne’s, a few clicks to the south, bear quartz veining and pyrite alteration, and occur on a geological contact between mafic dolerite and sedimentary shales.
Previous strong results at Turnberry included 5m at 6.8g/t Au from 103m in hole GNRC0010 and 20m @ 2.4g/t Au from 57m in SARC005.
Aircore drilling is set to begin at St Anne’s in the December quarter as drilling at Turnberry wraps up.
Latitude’s geos are eager to follow up a number of broad high-grade drill results at that prospect where anomalous gold is observed over 500m of strike.
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.