At Latitude’s other priority target, Petaja – immediately to the south of Visna – a follow-up mapping and boulder sampling program has been chasing the source of mineralised boulders that threw up huge hits such as 137.7g/t gold, 10.6 per cent copper and 73g/t silver in the earlier rock-chip campaign.
Of the recent 82-sample program, nine recorded notable gold results including one running at 4.14g/t from dolerite-hosted quartz veins. The outcropping vein sits in the fold of a dolerite unit, which is usually a common marker for strong gold mineralisation.
With winter closing in, the company will have just enough time to complete the Visna mapping and run an electromagnetic (EM) survey at both of its prospects to generate more detail.
Latitude, as a private company, had been exploring northern Finland since 2017, led by its driven managing director, Grant Coyle. But it was a meeting of the minds with DiscovEx Resources’ then-boss Toby Wellman that set the stage for a game-changing move.
In April this year, the two companies joined forces, merging to form the new Latitude 66 – a listed entity with the firepower to tap capital markets and supercharge their quest for large-scale polymetallic deposits in the region.
And the timing of the merger could not have been better. With a high-grade 650,000-ounce gold resource already in the bag at the Kuusamo Schist Belt (KSB) project and loads of exploration potential both there and at the PSB, Latitude is fast becoming a beneficiary of gold prices that have hit record highs – currently at AU$4012 per ounce, giving the company’s prospects a serious boost.
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