Latitude 66 Unveils Impressive Gold Discoveries at Laverton
In a recent development, Latitude 66 has made significant gold discoveries at its Laverton project in Western Australia, extending the mineral footprint at Red Dog and revealing a new prospect at Tin Dog.
The drilling program, which included 31 holes, has yielded remarkable results, with high-grade gold intercepts at both sites. At Red Dog, the drilling extended the known mineralization, with an intercept of 11 meters grading 4.6 grams per ton of gold, just 10 meters deep. Additional strikes include 6 meters at 4.2 grams per ton and 6 meters at 3.2 grams per ton, all from significant depths.
These findings confirm the wide, flat-lying high-grade gold mineralization beyond the existing Mineral Resource, as noted by LAT's managing director, Grant Coyle. The Red Dog prospect now hosts a substantial resource of 231,000 tons at 1.82 grams per ton of gold, equivalent to 13,500 ounces of gold.
Furthermore, the latest results suggest the potential for further mineralization below the reported intersections, significantly impacting the ounce potential. This discovery also supports the exploration target for Red Dog, estimated at 6.5-11 million tons with 1.0-1.3 grams per ton of gold, potentially yielding between 200,000 and 450,000 ounces of gold.
At Tin Dog, the drilling revealed a new discovery within northwest-southeast striking shear zones, validating known syenite-hosted mineralization. High-grade intercepts include 2 meters at 12.5 grams per ton, 4 meters at 3.9 grams per ton, and 11 meters at 2.3 grams per ton. The NW-SE structural orientation is considered significant, with multiple parallel structures at the surface remaining largely untested.
Coyle emphasized that these results not only validate historical syenite-hosted mineralization but also confirm their structural model, with new high-grade gold discoveries along previously unexplored corridors.
Moving forward, Latitude 66 plans to acquire an 80% stake in the Laverton project through binding option and joint venture agreements. The company aims to launch a follow-up drilling campaign in February to further extend mineralization and enhance resource growth potential. They will also conduct geophysical surveys to identify new drill targets.
With a well-funded exploration program and a strong financial position, including cash and shares in Carnaby Resources valued at approximately $5 million, Latitude 66 is poised for further success in the mining industry.
