News Articles for Latitude 66

The Bulls N' Bears ASX Runner of the Week is… European Metals which bagged a $645 million Czech government cheque for its monster Cinovec lithium project. Its stock soared 150% on Friday. Synertec Corp inked a deal with Shell QGC for its zero-emissions Powerhouse battery system, Enlitic became one of only two global vendors for Philips' $40 billion radiology empire and Latitude66 parachuted into the Laverton goldfields with an earn-in and a rig already drilling at its newest gold tilt in WA.

Latitude 66 has fired up a fresh exploration charge at its newly granted Piastri project in WA's Yalgoo-Singleton greenstone belt. The project, just 200m from the 2-million-ounce Ricciardo gold-antimony deposit being acquired by Capricorn Metals, could hardly be better placed. With funding due from the sale of its Queensland copper project, Latitude 66 is gearing up to chase high-grade gold targets in one of WA's most fertile mineral corridors.

Latitude 66 Ltd has divested its 17.5 per cent stake in the Greater Duchess copper-gold joint venture in Queensland to partner Carnaby Resources for $6 million, comprising $2 million cash and $4 million in shares. The non-dilutive transaction will enable Latitude 66 to advance its more significant exploration ventures in Western Australia and Finland.

Latitude 66 has etched out a promising gold target at its Edjudina project in Western Australia's Goldfields, with an air core drilling program at its Colossus prospect targeting bedrock returning assays of up to 0.45g/t gold. The company says beneath a blanket of transported cover, the underlying geology exhibits the trademarks of Ramelius Resources' nearby 1.1-million-ounce Lake Rebecca gold project.

Latitude 66 has signed a deal to sell its 17.5 per cent interest in the Greater Duchess copper-gold joint venture in Queensland for $2 million upfront. The agreement includes a potential $4 million bonus if the entire JV is sold within 90 days. The move unlocks non-dilutive cash and aligns with the company's strategy to monetise non-core Australian assets while focusing on projects in WA and Finland.

Latitude 66 has uncovered a 2.5km gold-cobalt-copper corridor at its K6 prospect in Finland, extending south from its 650,000-ounce K1 gold deposit. A maiden reverse circulation program delivered 12 holes for 315m, hitting broad mineralised zones, including 2m at 0.27g/t gold, 0.13% cobalt and 0.35% copper from 4m. The results suggest K6 may sit on the edge of a much larger system.

Latitude 66's KSB project in Finland is a key part of a wide-scale, European Union-funded geophysical and geological exploration and innovation program hunting for new critical mineral resources. The imminent $9M UNDERCOVER project aims to increase Europe's raw materials production and will include the Kuusamo Schist Belt, which hosts Latitude's flagship project.

Latitude 66 has jagged 16m of disseminated sulphides at 4m depth while hunting for high-grade gold and copper satellite deposits near its flagship KSB project in northern Finland. The 12-hole program was run over two targets called K6E and K6W. The exciting visuals line up with a strong IP anomaly and a nearby surface sample grading 8.8g/t gold and 0.6 per cent copper. Assay results are due in six weeks.

Latitude 66's share price jumped 20 per cent to 7.8 cents after the company released a scoping study on its KSB gold-cobalt project in Finland. The study revealed a high-grade, low-cost operation with a post-tax NPV of US$310m at US$2500 an ounce gold. The project has an all-in cost of just US$996 with cobalt credits and will pay for itself in 16 months.

Kalgoorlie Gold Mining is gearing up for an expanded air core drilling campaign to test for extensions to its recent Lighthorse gold discovery at the company's Pinjin project in WA's renowned Laverton gold region. The upcoming drill program will aim to stretch the impressive discovery's footprint by nearly 2.5km, with drilling planned for up to 1.4km to the north and 1km to the south of the mineralised zone.

Latitude 66 Limited will this month launch a major 9000-metre air core drilling campaign at its fully owned Edjudina gold project, near to Kalgoorlie Gold Mining's exciting new high-grade gold discovery. The program will target multiple gold anomalies identified through previous geochemical testing, geophysical surveys and historical drilling in WA's Eastern Goldfields and aims to unlock the site's full potential.

Latitude 66 is gearing up for an innovative exploration initiative at its flagship Kuusamo Schist Belt gold-cobalt project in Finland, with plans to deploy reverse circulation drilling for the first time in the region. The company has locked in an agreement to trial the RC technique this March at its K6 prospects, which lie just 1km south of its existing 650,000-ounce gold and 5840t cobalt mineral resource.

Carnaby Resources hit shallow, high-grade copper of up to 4.9pc and gold grading as high as 2.8g/t from just 22m depth at its Burke and Wills prospect, part of the Greater Duchess JV with ASX-listed Latitude 66 in Queensland. All 10 drill holes intersected mineralisation, helping to define deposit geometry and test extensions. Latitude holds a 17.5pc free-carried interest in the project.

Latitude 66 says an ongoing scoping study, due in March, has identified the K2 deposit as an ideal source of high-grade ore to kick off a standalone mine and generate early cashflows at its flagship Kuusamo Schist Belt Project gold-cobalt project in northern Finland. Consultants have also finalised pit optimisation, mine designs, process flow sheets and scheduling for a new development.

Latitude 66's diamond core drilling at its key KSB gold project in Finland has extended its K8 prospect in both strike directions, with latest results including a best run of 3.1m assaying 6.1g/t gold from 41.8m. The top-shelf result, coupled with the second best hit of 3.2m going 1.3g/t gold from 25m, points to extension potential at the southwestern and northeastern extremities of the mineralised trend.

Latitude 66 will sell its Sylvania gold project in WA's Pilbara region to gold producer Capricorn Metals for $1.5m worth of Capricorn shares, potentially two or more $750,000-milestone payments and a 1% royalty. The deal is designed to help Latitude 66 fund its promising Finnish gold-cobalt project by unlocking value from what it says is a “non-core” asset.

Capricorn Metals will expand its Karlawinda gold project footprint, in a deal worth up to $3 million to aid its push to grow production from the Pilbara goldmine.

After a stellar run with the drill bit Latitude 66 is set to wrap some updated financials around its exciting KSB gold-cobalt project in Finland where it is aiming for a standalone development with scalable options. The company has appointed Como Engineers to run a scoping study based on the existing resource that will also allow it to scale easily if the resource can be grown.

Latitude 66's Kuusamo Schist Belt gold-cobalt project in Finland will participate in a EUR €5 million (A$8 million) geophysics research scheme funded by the European Union that will focus on deep mineralisation. The initiative aims to focus efforts on three key regions that include Lattitude's project area, together with areas of the Iberian Pyrite Belt in Portugal and the Kalahari Copper Belt in Namibia.

A magnetic survey by Carnaby Resources has found a major conductor at the San Quentin prospect beneath outcrops of up to 6.7 per cent copper at its Greater Duchess JV with Latitude 66 in Queensland. The prospect is near the 4.2 million tonne Nil Desperandum deposit and and boast some 800m of outcropping copper mineralisation that is yet to be drilled.

Latitude 66 says it has unearthed high-grade gold and copper mineralisation at its Visna and Petaja prospects in northern Finland and has also worked up multiple new exploration targets before wrapping up a successful summer fieldwork program at its Peräpohja Schist Belt (PSB) project. The company is now planning further mapping at Visna before the exploration season closes down for winter.

Carnaby Resources has identified its undrilled San Quentin prospect as a new copper target, with rock-chip grades going up to 6.7 per cent at the Greater Duchess project it shares with Latitude 66 in Queensland. Sitting 2km to the south-east of the JV's Nil Desperandum copper discovery near Mount Isa, management says San Quentin is showing 800m of outcropping mineralisation.

Latitude 66 has wrapped up what could prove to be a pivotal 18-hole, 2197m diamond drilling program at the K South target within its Kuusamo Schist Belt (KSB) play in Finland, in a bid to lift the project's gold resource. The company says all samples from the program have now been submitted to MSALABS in Canada, with assay results expected in early November.

A recently-completed magnetic survey by Carnaby Resources has jagged multiple new targets at the Greater Duchess copper-gold joint venture (JV) it shares with Latitude 66 near Mount Isa in Queensland. The versatile time domain electromagnetic (VTEM) survey covering 194 line kilometres revealed multiple strong bedrock conductors at previously-undrilled sites at the JV's Mount Hope and Nil Desperandum deposits.

Carnaby Resources has jagged 3m at 3.2 per cent copper and 2.2 grams per tonne gold – including 1m at 7.6 per cent copper and 3.8g/t gold – at the Lady Fanny prospect within the Greater Duchess joint venture (JV) with Latitude 66 near Mt Isa in Queensland underlining the prospectivity of the deposit to host a greater resource than its 46,500 tonnes of copper equivalent.

Latitude 66 has started turning the diamond drill bit at the K South prospect within its Kuusamo Schist Belt gold project in northern Finland. The company says the initial focus will be on its K9 and K8 targets, with the drilling program set to extend up to a total of 2000m in a bid to unlock further high-grade hits of the yellow metal.

Latitude 66 has found evidence of high-grade gold hits after digging through historical data from its K8 target in northern Finland and says the findings support the company's previous strong assay results and is further evidenced through recent geophysical work at the site. The data was previously compiled from drilling campaigns run by the Geological Survey of Finland (GTK) and former project owner Belvedere Resources.

A Latitude 66 geophysics survey has identified strong conductors at the company's K9 prospect in Finland that correlate with multiple conductors down-plunge from known gold-cobalt mineralisation and local shear zone orientation. The significance of the downhole electromagnetic results from two adjacent holes is that they confirm continuity of K9 mineralisation towards the south-west and north-east and also down-dip and down-plunge.

A surface rock chip sample revealing 137.7 grams per tonne gold and 10.6 per cent copper at Latitude 66's Peräpohja Schist Belt Project (PSB) project in northern Finland has provided management with a tantalising new glimpse into what treasures may lie beneath. The company says its latest results have affirmed multiple ice flow gold-copper mineralisation trends extending up to 2km.

Latitude 66 has unveiled 20 new gold-copper targets at its Peräpohja Schist Belt (PSB) project in Finland as it ramps up efforts to prove the potential for a lookalike to its nearby flagship operation in the Scandinavian nation. Management says geophysical surveys, geological mapping and rock sampling at PSB suggests similarly significant mineralisation to its Kuusamo Schist Belt (KSB) play.

Latitude 66 has immediately hit its stride after a recent reverse takeover of DiscovEx Resources and re-listing on the ASX, revealing impressive new gold assay results up to 22.4m at 2.4g/t from extensional diamond drilling at its Kuusamo Schist Belt (KSB) project in Finland. The company is building on the existing indicated resource of 650,000 ounces of gold and 8000 tonnes of cobalt.

The new combined ASX entity known as Latitude 66 believes it has high-tech electromagnetic data that makes exploration at its flagship KSB gold-cobalt project in Finland as easy as “shooting fish in a barrel”. DiscovEx Resources' reverse takeover of Latitude 66 Cobalt has put together “a group of like-minded people” after the corporate transaction on the back of a $4 million capital raise.

Scoping study details revealed today on the Carnaby Resources-DiscovEx Resources copper-gold joint venture in Mount Isa shows the operation will deliver $491 million in free cash during the project's nine-year mine life. The study indicates that commercialisation of the project is viable by 2026 and also confirms that processing by a third party will be the best option.

DiscovEx Resources is on the cusp of a major transformation after its bid to snare Finland-based private Australian company Latitude 66 Cobalt was given a unanimous tick of approval from that firm's board of directors. Latitude owns several projects in Finland, with its most advanced project containing Europe's second-biggest undeveloped cobalt-gold resource that features 5800 tonnes of cobalt and 650,000 ounces of gold.

DiscovEx Resources will takeover a private company that has racked up a 650,000 ounce gold resource in Finland in addition to Europe's second largest undeveloped cobalt resource. It also has some stellar exploration hits including a 22m intersection grading 98 g/t gold. The Finnish turf is currently owned by Australian company Latitude 66 Cobalt, which the DiscovEx board proposes to acquire by way of an off- market takeover.

DiscovEx Resources has stretched its Hercules prospect to a whopping 7km of anomalous gold found in soil after a sampling program at its Edjudina project, about 200km north of Kalgoorlie in Western Australia. The extensional program completed north of the Hercules target produced multiple higher-tenor results within the broad anomalous zone, adding to several prospective targets already identified at the project.

DiscovEx Resources' joint venture partner Carnaby Resources has drilled a high-grade intercept of 4m running a grade of 7 per cent copper at their Greater Duchess copper-gold project in Queensland. The latest hit is included in a longer intercept from the Duchess Central Lode of 10m going 3.3 per cent copper and 0.1g/t gold, with the steeply-dipping mineralised structure remaining open at depth.

This week's Bulls N' Bears top ASX runner is … Avira Resources. Its share price rose more 100 per cent to join fellow movers and shakers DiscovEx Resources, Volt Power Group and Singular Health Group.

DiscovEx Resources says three reverse-circulation drillholes for 702m completed recently within its Sylvania project near Newman in Western Australia intersected banded iron mineralisation grading up to 48.2 per cent iron. The maiden drilling program was undertaken by Rio Tinto Exploration under the terms of DiscovEx's Sylvania iron ore option agreement with the company. The longest intercept was 88m going 34.5 per cent iron.

Gutsy copper-gold extensions have emerged at Queensland's Greater Duchess joint venture project – held by DiscovEx Resources and Carnaby Resources – following a new, seven-hole diamond drilling campaign. The JV says results associated with an “intensely strong” downhole EM conductor at its Chalcus lode were highlighted by an 87m hit going 2.3 per cent copper and 0.5g/t gold from 550m.