Latitude 66 (ASX:LAT) has commenced a 2,500m diamond drilling program at its Kuusamo Schist Belt (KSB) Gold-Cobalt Project in northern Finland, targeting resource extensions adjacent to the K1 gold-cobalt deposit.
The program will test targets near K1, where geological, structural, geophysical, and historical drilling data support the potential continuation of the known mineralised system.
Two fixed loop electromagnetic surveys identified the targets. Geological and structural interpretations point to fold-controlled positions analogous to those hosting K1.
The KSB Project hosts a resource of 7.3 million tonnes (Mt) grading 2.7 grams per tonne gold (Au) for 650,000 ounces and 0.08% cobalt for 5,840 tonnes, with about 90% classified as indicated.
The principal target comprises a continuous conductor modelled over about 320m of strike and up to 650m down-dip, extending beyond the existing K1 resource envelope.
Historical drilling around the conductor margins intersected anomalous and ‘high-grade’ gold mineralisation, including 5.6m @ 7.3g/t Au, 2.3m @ 4.1g/t Au, and 3.5m @ 2.6g/t Au.
The company says successful drilling could expand the K1 resource beyond its current margins.
Managing Director Grant Coyle says the targets rest on more than geophysical data.
“Importantly, these targets are not based on geophysics alone,” Coyle states.
“They are supported by our geological and structural interpretation, occur in positions analogous to the controls on the existing K1 mineralisation, and are reinforced by historical gold intersections around the margins of the conductive plates.”
The K1 deposit contains 510,000 ounces Au and 5,010 tonnes Co, with about 79% of its 5.8Mt mineral resource classified as indicated.
The recently completed 2026 Scoping Study contemplates open pit and underground mining at K1. Notably, drilling forms part of a broader work program alongside the KSB Prefeasibility Study.
Latitude 66 is also advancing its Laverton Gold Project in Western Australia, which includes the Red Dog and Tin Dog prospects with a combined 339,000-ounce gold resource.
The two programs provide opportunities for resource growth across tier-one jurisdictions.
Latitude 66 is an Australian explorer and developer advancing gold and critical minerals projects across tier-one mining jurisdictions.
Write to JC Villarba at Mining.com.au
Main image: Latitude 66
