Latitude 66 (ASX:LAT) has lodged exploration permit applications to the Finnish Mining Authority for development and exploration workstreams at the K1, K2, and K3 prospects within the Kuusamo Schist Belt (KSB) Project in northern Finland.
Finland amended its Mining Act in mid-March 2026, allowing the granting of exploration permits for where a mining right had expired or been revoked.
The amendment came into force on 1 April 2026, which Latitude 66 acted on immediately by lodging permit applications on the same day. Exploration permits are expected to be granted in Q2 2026.
Managing Director Grant Coyle says the company is encouraged to see amendments to the local Mining Act come into legal force.
“It is a clear demonstration of the Finnish Government’s ongoing commitment to ensuring a predictable and supportive environment for the mining sector,” Coyle says.
“Knowing how critical this milestone is for the company, we immediately lodged our exploration permit applications so we can progress our development plans for the KSB Project.
“With a clear pathway to secure tenure now in place, we are excited to recommence work and aggressively advance the KSB Project.
“We already have multiple work programs ready to deploy, including optimising the 2025 Scoping Study and upcoming drilling campaigns to test the significant exploration potential.”
The KSB Project hosts a total resource estimate of 650,000 ounces of gold @ 2.7 grams per tonne and 5,800 tonnes of cobalt @ 0.08%.
Latitude 66 identified the project to have a 7.2-year mine life with an average production of 65,000 ounces of gold and 465 tonnes of cobalt per annum in a Scoping Study released in March 2025.
The company is focused on creating an optimised Scoping Study, submitting an environmental permit program, planning and preparing for drilling, and planning a Prefeasibility Study.
Latitude 66 is a diversified gold and critical minerals explorer focused on discoveries in mining jurisdictions in Finland and Australia.
Write to Maddison Elliott at Mining.com.au
Images: Latitude 66
