Latitude 66 preps for epic EU-funded, deep-rock critical minerals hunt
Latitude 66's KSB project in Finland is a key part of a wide-scale, €5 million (A$8.91M) European Union-funded, deep-rock geophysical and geological exploration and innovation program that will hunt for new critical mineral resources.
The imminent UNDERCOVER project aims to increase raw materials production and will include Finland's Kuusamo Schist Belt, on which Latitude 66's flagship project sits.
UNDERCOVER – an acronym for 'unified novel deep exploration for critical ore discovery' – is being funded through the European Union's Horizon Europe research and innovation program.
UNDERCOVER aims to also develop new technologies to advance critical raw materials exploration to about 1000 metres vertical depth.
The program will comprise extensive seismic and electromagnetic geophysical measurements across multiple Finnish municipalities located around Latitude 66's flagship grounds, including Kuusamo, Posio, Taivalkoski, Ranua, Salla, Kemijärvi, Rovaniemi and Pudasjärvi.
The project's studies will extend beyond Finland to the Iberian Pyrite Belt in Portugal and the Kalahari Copper Belt in Namibia, where it will also develop and integrate new exploration technologies and targeting methodologies.
'It's exciting for the first work program of the UNDERCOVER project to commence… The work program covers Lat66's 100%-owned KSB project, where we recently completed a robust scoping study that demonstrates potential for a standalone gold-cobalt development with upside potential.'
Latitude 66 managing director Grant Coyle
Latitude 66's managing director Grant Coyle said: 'It's exciting for the first work program of the UNDERCOVER project to commence… The work program covers Lat66's 100%-owned KSB project, where we recently completed a robust scoping study that demonstrates potential for a standalone gold-cobalt development with upside potential.'
Data collected within the geophysical program will help Latitude 66 develop further exploration targets, which could expand the company's KSB project, Coyle said.
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