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Highlights
- Latitude 66 advances its KSB project with a new scoping study.
- Exploration drilling reveals promising cobalt results and new targets.
- EU-funded UNDERCOVER project supports innovative exploration strategies.
Latitude 66 (ASX:LAT) has taken significant strides in the development of its Kuusamo Schist Belt (KSB) gold and cobalt project in northern Finland. Partnering with Como Engineers, the company has initiated a scoping study to refine project parameters. The study, grounded on an existing JORC mineral resource estimate of 7.3 million tonnes at 2.7 grams per tonne of gold and 0.08% cobalt, is anticipated to conclude by early 2025. This comprehensive analysis aims to define development pathways and assess expansion potential tied to future exploration success.
Enhanced Exploration Efforts
Recent exploration at the KSB project has yielded encouraging cobalt results. The company’s drilling programs have expanded its understanding of the project’s untapped potential. Following a detailed structural review of the mineral resource, Latitude 66 plans to recommence drilling, targeting further resource growth across its prospects.
The multiple target areas within the KSB project, including K8, K10, and K12, remain under active evaluation. Field activities like boulder sampling at K6E and K6W and desktop studies using historic geophysical datasets have bolstered confidence in the project’s long-term potential. Results from these initiatives, coupled with the pending analysis of new drilling, are expected to enhance the mineral resource base.
Como Engineers Collaboration
Latitude 66 has a history of successful collaboration with Como Engineers, having previously worked on metallurgical testing and mine optimization for the KSB project. The ongoing scoping study will revisit these efforts, focusing on optimizing resources across the K1, K2, and K3 prospects. The study will also provide insights into permitting and future development strategies.
Participation in UNDERCOVER Project
Latitude 66’s KSB project is also part of the European Union’s UNDERCOVER initiative, a EUR 5 million research program funded under Horizon Europe. Coordinated by the Geological Survey of Finland, this program leverages case studies across three regions, including KSB, to develop cutting-edge exploration methods. This collaboration underscores the strategic importance of KSB as a hub for critical mineral exploration.
With multiple activities underway, Latitude 66 is positioning the KSB project as a critical contributor to Finland’s resource sector. The company’s combined focus on innovative exploration and resource optimization signals a robust trajectory for the project in the coming years.
