Latitude 66 Unveils High-Grade Gold Hits at Laverton After Strategic Acquisition
Latitude 66 Limited has secured an 80% stake in the Laverton Gold Project, delivering promising initial drilling results that highlight significant gold mineralisation and potential for rapid resource growth.
- Acquisition of 80% interest in Laverton Gold Project including Red Dog Mining Lease
- Maiden 3,000m drilling program confirms wide, high-grade gold mineralisation
- Exploration Target of 200-450koz gold identified at Red Dog and Tin Dog prospects
- Sale of 17.5% Greater Duchess JV interest completed, raising $6 million
- Partnership with Iondrive to test cobalt processing technology in Finland
Strategic Acquisition Positions Latitude 66 for Growth
Latitude 66 Limited (ASX, LAT) has made a decisive move in the Western Australian gold sector by executing binding option and joint venture agreements to acquire an 80% interest in the Laverton Gold Project. This acquisition includes the historically mined Red Dog Mining Lease and surrounding tenements, collectively covering 253 square kilometres in a prolific gold district. The project boasts an existing Indicated and Inferred Mineral Resource Estimate of 231,000 tonnes at 1.82 grams per tonne gold, equating to approximately 13,500 ounces.
Located just 7 kilometres from Brightstar Resources’ Second Fortune deposit and within trucking distance of multiple processing plants, Laverton offers Latitude 66 a strategic foothold with excellent infrastructure access, potentially accelerating development timelines.
Encouraging Drilling Results Signal Exploration Upside
Latitude 66’s maiden 3,000-metre Reverse Circulation drilling program at the Red Dog and Tin Dog prospects has delivered wide, high-grade gold intersections that validate the project’s exploration potential. Notable results include 11 metres at 4.6 grams per tonne gold from 10 metres depth at Red Dog, and 2 metres at 12.5 grams per tonne gold from 83 metres at Tin Dog. These results extend known mineralisation and reveal new zones along previously underexplored structural trends.
The company has defined an Exploration Target ranging from 6.5 to 11 million tonnes at 1.0 to 1.3 grams per tonne gold, representing 200,000 to 450,000 ounces of contained gold. This target remains conceptual but highlights the potential scale of the system, with mineralisation open at depth and along strike.
Portfolio Optimization and Financial Strength
During the quarter, Latitude 66 completed the sale of its 17.5% interest in the Greater Duchess Copper Gold Joint Venture in Queensland to Carnaby Resources. The transaction brought in $2 million in cash and $4 million in Carnaby shares, which were used to repay a $750,000 loan, strengthening the company’s balance sheet. At quarter-end, Latitude 66 held $1 million in cash and $3.5 million in shares, providing a solid platform to fund upcoming exploration activities.
Additionally, Latitude 66 entered into a binding agreement with Iondrive Limited to apply proprietary Deep Eutectic Solvent technology to cobalt concentrates from its Finnish projects. This collaboration aims to enhance the processing of critical minerals, positioning Latitude 66 within the European critical minerals supply chain and supporting sustainable resource development.
Looking Ahead
Latitude 66 plans follow-up drilling at Laverton in February 2026 to expand on the promising initial results and progress towards a JORC-compliant Mineral Resource Estimate. The company’s strategic acquisitions, combined with its financial discipline and technological partnerships, suggest a clear pathway to unlocking value across its diversified project portfolio.
Bottom Line?
Latitude 66’s Laverton acquisition and drilling success mark a pivotal step, but upcoming resource updates will be critical to confirming its growth trajectory.
Questions in the middle?
- How will the upcoming February drilling results impact the Laverton Mineral Resource Estimate?
- What are the commercial prospects and timelines for the Iondrive DES technology application?
- How will Latitude 66 allocate capital between its Australian gold projects and Finnish critical minerals assets?
