Latitude 66 Secures Finnish Exploration Permits and Expands Laverton Gold Targets

Exploration Permits Unlock Development at Finnish KSB Project

Latitude 66 Limited (ASX:LAT) has crossed a crucial regulatory milestone with the Finnish Mining Authority granting exploration permits covering the K1, K2, and K3 deposits of its Kuusamo Schist Belt (KSB) Project. This secures tenure for the entire project area and enables the company to accelerate drilling and development activities.

The KSB Project hosts a substantial high-grade gold-cobalt resource of 7.3 million tonnes at 2.7 g/t gold for 650,000 ounces and 0.08% cobalt for 5,840 tonnes, with over 85% classified as Indicated. A March 2025 Scoping Study highlighted the project's potential for a standalone mining operation delivering 65,000 ounces of gold and 465 tonnes of cobalt annually over a seven-year mine life, supported by a low capex of approximately US$100 million and an attractive post-tax NPV8 of US$433 million.

Electromagnetic Surveys Define High-Priority Drill Targets

Recent Fixed Loop Electromagnetic (FLEM) surveys have significantly enhanced the prospectivity at KSB. The K1 conductor’s modelled conductance more than doubled, from 1,040 to 2,466 siemens, extending approximately 320 metres along strike and 650 metres down dip. This conductor lies beyond the current resource envelope, with historical drill results including 5.6 metres at 7.3 g/t gold around its margins, pointing to strong potential for resource expansion.

At the nearby Peräpohja Schist Belt (PSB) Project, a large-scale conductor measuring roughly 1,200 by 700 metres was identified at the Reutu Prospect, closely aligned with the regionally significant Sihtunna Fault. This target is primed for drill testing in the upcoming program.

Laverton Drilling Expands Gold Footprint with Encouraging Assays

Meanwhile, in Western Australia, Latitude 66’s 42-hole Reverse Circulation drill campaign at the Laverton Gold Project has significantly expanded the mineralised footprint at the Tin Dog prospect. The results confirm a structurally controlled, intrusive-hosted gold system with broad zones of mineralisation extending over 500 metres strike and 400 metres down dip.

Noteworthy intercepts include 8 metres at 3.0 g/t gold from 58 metres, including 5 metres at 4.5 g/t; 1 metre at 24.9 g/t gold from 86 metres; and 15 metres at 1.6 g/t gold from 116 metres. These results support the interpretation of a larger intrusive system at depth and underpin the company’s plan to deliver a maiden Mineral Resource Estimate for Tin Dog in Q3 2026.

Advancing Environmental and Development Studies in Finland

Latitude 66 has also completed the first phase of Finland's Environmental Impact Assessment (EIA) programme for the KSB Project, a key regulatory step that involved extensive stakeholder consultation. The company is now preparing the second phase of the EIA, which will inform future permitting decisions.

Technical workstreams are progressing with an Optimised Scoping Study nearing completion, focusing on underground and open pit trade-off analysis. This study will feed into a Prefeasibility Study scheduled to commence shortly after, advancing KSB towards development.

Upcoming Drilling and Resource Growth Objectives

With exploration permits in hand, Latitude 66 plans to start a targeted diamond drilling program in Q3 2026 aimed at testing the high-priority conductors at both the KSB and PSB Projects. This includes the newly defined K1 resource extension and the Reutu conductors.

In parallel, the company will continue integrating Laverton drilling data, refining geological models, and advancing permitting activities at the Red Dog prospect to support near-term development options.

Latitude 66 reported cash reserves of $1.5 million at quarter-end, with exploration expenditure of $1.6 million during the period, reflecting its active development and exploration agenda.