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Highlights
- Drilling to target multiple gold prospects at the Edjudina project in Western Australia.
- Aircore and RC drilling planned for key targets like Hercules, Falcon, and Colossus/Spartan.
- Collaboration with Raglan Drilling enhances exploration efficiency through a drill for equity agreement.
Latitude 66 (ASX:LAT) is intensifying its exploration efforts at the promising Edjudina project located near Laverton, Western Australia. The company plans to drill several highly prospective targets within a land area encompassing approximately 1,193km2, a region that has recently witnessed increased exploration activity from other developers such as Kalgoorlie Gold Mining (ASX:KAL) and Matsa Resources (ASX:MAT).
The exploration will focus primarily on targets identified through initial geophysical surveys and sampling. Noteworthy target areas include the Hercules prospect with a 7km long soil anomaly showing gold presence up to 92 parts per billion (ppb), Falcon with a 1.3km long anomaly yielding up to 98 ppb, and Colossus/Spartan, which has previous drill intersections indicating promising gold content.
Latitude 66's managing director, Grant Coyle, expressed optimism about the ongoing exploration initiatives, citing the favourable environment created by current high gold prices. Alongside efforts at Edjudina, the company continues its operations at the Kuusamo Schist Belt project in Finland that boasts substantial gold and cobalt resources.
To enhance its exploration capacity, Latitude 66 has entered into a strategic drill-for-equity agreement with Raglan Drilling, a prominent Kalgoorlie-based firm. This agreement allows Latitude 66 to expand its exploration endeavors effectively while optimizing shareholder value through potential equity gains.
Latitude 66's exploration strategy aims to unlock significant potential value from its Australian assets. By pursuing extensive drilling programs at the Edjudina project, the company seeks to capitalize on its strategic landholdings and geological prospects in a region rich with mineral resources.
