Latest news with #SchistBelt
The Age
12 hours ago
- Business
- The Age
Latitude 66 hits gold, cobalt along 2.5km corridor in Finland
Latitude 66 has hit paydirt in northern Finland after a maiden reverse circulation (RC) drilling program at the company's K6 prospect confirmed a 2.5-kilometre-long corridor brimming with gold, cobalt and copper potential. The new discovery has unearthed broad zones of anomalous mineralisation running immediately south from its K1 prospect, which contains 650,000 ounces of gold and 5800 tonnes of cobalt. The tenor and distribution of mineralisation appear to form the outer halo of a much bigger mineralised system at depth. The Perth-based explorer has now completed 12 shallow RC holes for 315 metres at its K6E and K6W prospects. It says the hits have firmed up the underexplored scale of the broader Kuusamo Schist Belt (KSB) project. Drilling focused on zones defined by discrete induced polarisation (IP) chargeability anomalies coincident with surface boulder samples returning up to 8.8 grams per tonne (g/t) gold and 0.6 per cent copper. 'This is an exciting step forward in improving efficient early-stage drilling that has the potential to accelerate exploration.' Latitude 66 managing director Grant Coyle One standout result included 2 metres grading 0.27g/t gold, 0.13 per cent cobalt and 0.35 per cent copper from 4m depth. A further drill hole hit 4m grading 0.01 per cent cobalt. Management says the result is believed to come from a point where two distinct types of rocks meet - one made of felsic volcanic material and the other containing elevated chromium, magnesium and nickel, suggesting a mafic-style formation. Although this contact zone showed up in just one of the 12 drill holes, it seems to match a weak but gradually strengthening geophysical signal that dips gently to the east. Notably, the geophysical signal appears to become more intense at depth. The chargeability peaked at 9 millivolts per volt 100 metres to the east of the contact point in a fold hinge - a structure known to trap high-grade mineralisation elsewhere in the belt.
Sydney Morning Herald
12 hours ago
- Business
- Sydney Morning Herald
Latitude 66 hits gold, cobalt along 2.5km corridor in Finland
Latitude 66 has hit paydirt in northern Finland after a maiden reverse circulation (RC) drilling program at the company's K6 prospect confirmed a 2.5-kilometre-long corridor brimming with gold, cobalt and copper potential. The new discovery has unearthed broad zones of anomalous mineralisation running immediately south from its K1 prospect, which contains 650,000 ounces of gold and 5800 tonnes of cobalt. The tenor and distribution of mineralisation appear to form the outer halo of a much bigger mineralised system at depth. The Perth-based explorer has now completed 12 shallow RC holes for 315 metres at its K6E and K6W prospects. It says the hits have firmed up the underexplored scale of the broader Kuusamo Schist Belt (KSB) project. Drilling focused on zones defined by discrete induced polarisation (IP) chargeability anomalies coincident with surface boulder samples returning up to 8.8 grams per tonne (g/t) gold and 0.6 per cent copper. 'This is an exciting step forward in improving efficient early-stage drilling that has the potential to accelerate exploration.' Latitude 66 managing director Grant Coyle One standout result included 2 metres grading 0.27g/t gold, 0.13 per cent cobalt and 0.35 per cent copper from 4m depth. A further drill hole hit 4m grading 0.01 per cent cobalt. Management says the result is believed to come from a point where two distinct types of rocks meet - one made of felsic volcanic material and the other containing elevated chromium, magnesium and nickel, suggesting a mafic-style formation. Although this contact zone showed up in just one of the 12 drill holes, it seems to match a weak but gradually strengthening geophysical signal that dips gently to the east. Notably, the geophysical signal appears to become more intense at depth. The chargeability peaked at 9 millivolts per volt 100 metres to the east of the contact point in a fold hinge - a structure known to trap high-grade mineralisation elsewhere in the belt.
