Latitude 66 (ASX:LAT) has uncovered more than 20 targets which require follow-up testing at the Perapohja Schist Belt (PSB) Project in Northern Finland.
A total of 23 exploration prospects have been defined and will be subject to an internal ranking exercise, which will be completed in the coming weeks. The targets will be ranked based on prospectivity, potential scale, and exploration stage within the targeting pipeline.
Latitude 66, which has a market capitalisation of $25.18 million, says targets that exist within PSB include the P12 and P13 prospects, which were defined from airborne time-domain electromagnetics. Both prospects are analogous to those defined within the mineral resource areas of K1, 2 and 3.
The company notes K12 represents a prospect area that has a “larger scale” to the observed at K1, where an indicated and inferred mineral resource has been defined of 5.8 million tonnes @ 2.7 grams per tonne (g/t) gold and 0.089% cobalt for 501,000 ounces of gold, which indicated the potential for K12.
Managing Director Grant Coyle says exploration is continuing at PSB, with a review of prior work by the Geological Survey of Finland, including base of till and diamond drilling data.
“Ongoing field work includes continued boulder sampling and electromagnetics surveys,” he says.
“Exciting developments are underway at the PSB Project, where we’ve identified over 20 targets for further testing, through a combination of geophysics, geological mapping, and sampling.
“We are looking forward to receiving the analysis of the boulder samples, which were taken from the prior seasons field exploration activities.”
The company says results from the bedrock and boulder sampling will be used to complement the target areas within PSB.
The PSB Project is a paleoproterozoic rift-related basin in Northern Finland. The project has gold, sediment-hosted copper, and cobalt mineralisation.
The Roundup
– Over 20 targets identified for follow up testing
– Analysis of boulder samples from the PSB Project is imminent
– The P12 & P13 prospects show potential for similar scale to K North
Write to Aaliyah Rogan at Mining.com.au
Images: Latitude 66
