Latitude 66: “Like shooting fish in a barrel” – a geophysics method for targeting gold that hasn’t missed yet!
Latitude 66 Managing Director Grant Coyle on 6PR Bulls N' Bears Report
Listen to ASX-listed Latitude 66 Managing Director Grant Coyle talk to Matt Birney on the Bulls N’ Bears Report about Latitude’s gold/cobalt play in Finland that is starting to look a lot like a company maker.
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Latitude 66 holds the old DiscovEx projects including 17.5 per cent of key tenements at Carnaby Resources’ Greater Duchess Copper/Gold project in Queensland, an option agreement with Rio Tinto over its Sylvania gold project in northern WA and a big gold in soils anomaly near the South Australian border. More recently and notably however, Latitude 66 brought its KSB gold cobalt project in Finland to the table when it merged with DiscovEx and that project looks like it just might be a company maker.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by Latitude 66, formerly DiscovEx.
Matt Birney - ASX code: LAT
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Latitude 66, Grant Coyle.
Matt Birney - Hi Grant.
Grant Coyle - Hi Matt, thanks for having me.
Matt Birney - Okay so Latitude 66 holds the old DiscovEx projects including 17.5 per cent of key tenements at Carnaby Resources’ Greater Duchess Copper/Gold project in Queensland, an option agreement with Rio Tinto over its Sylvania gold project in northern WA and a big gold in soils anomaly near the South Australian border. More recently and notably however, Latitude 66 brought its KSB gold cobalt project in Finland to the table when it merged with DiscovEx and that project looks like it just might be a company maker.
Matt Birney - Okay Grant what's the existing resource in the northern sector of your KSB project in Finland and how deep is it?
Grant Coyle - Yeah thanks Matt we've got a current resource there of 7.3 million tonnes grading 2.7 grams of gold and 8 per cent cobalt to give us 650,000 ounces of gold and 5,800 tonnes of cobalt, and importantly as well on that Matt, over 80 per cent of that is at the measured level
Matt Birney - How deep is it?
Grant Coyle - So we go down to 300 meters for that drilling at this stage and especially from mineralization from surface.
Matt Birney - So this is clearly a gold project but how significant is the cobalt in that resource? Is it just a credit or something bigger?
Grant Coyle - It's about 90 per cent sort of economics on gold and 10 per cent credit on the cobalt but for us really that cobalt's got a really significant strategic angle to it. It is the third largest undeveloped cobalt deposit in the EU and really allows us to tackle in and tap into the EU's push for the critical raw materials act that they just enacted up there and something we see, you know, significant benefits for the project moving forward.
Matt Birney - Now about 30 km to the south of that resource is your K South prospect. It looks like it might have plenty of blue sky about it. What are the best drill results there to come out of that southern sector to date?
Grant Coyle - Yeah thanks Matt, we've drill that out over the last couple of years and got hits of 13.45 meters at 6.5 grams of gold from 20 meters, 13.8 at 3.6 from 60 meters and 12.3 at 3.2 from 70 meters, so significant gold intercepts there and again most of the that's from surface as well.
Matt Birney - Now I note you've been able to use electromagnetic surveys to find a heap of conductivity highs in that southern sector largely because of the sulfides there. How many of those conductivity highs have you found? How many of you drilled? and how many had gold when you drilled them?
Grant Coyle - Yeah look we've managed to indicate over 20 conductivity highs in our K South area and we've only drilled three those out and each of those targets that we've drilled we've hit significant gold intercepts and look as my technical director tells me it's effectively like shooting fish in a barrel down there. We've got all the right soundings there so we're really excited to continue that drilling program.
Matt Birney - I note you've only got about 180 million shares on issue now in the combined entity so well done to you.
Matt Birney - Grant Coyle from Latitude 66
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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