RC Drilling Trial at KSB North Could Accelerate Latitude 66’s Resource Expansion

• RC drilling trial to test high-grade gold-cobalt anomalies at K6E and K6W
• Targets include exceptional boulder assays up to 490 g/t gold and notable cobalt grades
• First use of RC drilling in the KSB region, aiming to improve cost and time efficiency
• Drilling mobilization planned for March 2025 with results expected in Q2 2025
• Potential to expand resource base near existing 650,000 oz gold and 5,840 t cobalt resource

Latitude 66 Embarks on RC Drilling Trial at KSB North

Latitude 66 Limited (ASX: LAT) has announced the commencement of a Reverse Circulation (RC) drilling trial at its flagship KSB North Project in Finland. This initiative marks the first known application of RC drilling in the Kuusamo Schist Belt (KSB) region, targeting the K6E and K6W Prospects located approximately one kilometre south of the existing mineral resource base.

The KSB Project already boasts a substantial high-grade mineral resource, with an estimated 650,000 ounces of gold at 2.7 g/t and 5,840 tonnes of cobalt at 0.08%. Latitude 66’s exploration focus now turns to testing geophysical and geochemical anomalies identified through induced polarisation (IP) surveys and high-grade boulder samples, some of which have returned remarkable assays including 490 g/t gold and 0.07% cobalt at K6E.

Targeting High-Grade Boulder Anomalies

The K6E and K6W Prospects present compelling targets with multiple significant boulder assay results. K6E has yielded assays as high as 490 g/t gold and 0.09% cobalt, while K6W features gold grades up to 8.8 g/t alongside copper mineralisation. These anomalies lie beneath a shallow transported till cover of 2-3 metres, making RC drilling an ideal technique for rapid and cost-effective bedrock testing.

Latitude 66’s Managing Director, Grant Coyle, emphasised the strategic importance of this trial: "If successful, RC drilling could deliver significant time and cost savings, accelerating our ability to test multiple targets across the KSB Project. This is particularly timely as we finalise the KSB Scoping Study, which highlights the K2 resource as a key source of high-grade feed early in the production schedule."

Innovative Exploration Approach in Europe

RC drilling is relatively uncommon in European exploration outside of mine development phases, making Latitude 66’s approach innovative for the region. The company has secured a local contractor to mobilise the RC rig in March 2025, with assay results anticipated in the second quarter. Should the trial prove effective, Latitude 66 plans to deploy RC drilling extensively to efficiently test multiple electromagnetic (EM) anomalies across its broader project portfolio.

This strategy aligns with Latitude 66’s broader ambition to expand its footprint in Finland’s prolific gold and critical minerals belts, including ongoing regional exploration in the Peräpohja, Kainuu, and Central Lapland Greenstone Belts. The company also maintains interests in Australian projects, diversifying its mineral exploration portfolio.

Looking Ahead

The upcoming drilling results will be closely watched by investors and analysts, as they could validate a new, cost-effective exploration methodology and potentially expand the KSB Project’s resource base. This could enhance the project’s economics and underpin future development decisions. Latitude 66’s innovative use of RC drilling may set a precedent for exploration efficiency in similar geological settings across Europe.

Bottom Line?

Latitude 66’s RC drilling trial could redefine exploration efficiency at KSB, with results poised to shape the project’s next growth phase.

Questions in the middle?

• Will the RC drilling trial confirm the source of the high-grade boulder mineralisation at K6E and K6W?
• How might successful RC drilling impact the timeline and cost structure of the KSB Project’s development?
• Could this innovative drilling approach be adopted more widely across European mineral exploration projects?