- Latitude Consolidated (LCD) receives further assay results from the phase one drilling program at its Murchison Gold Project in Western Australia
- Results come from the St Anne’s, Bunarra and Far East prospects as well as the Turnberry mineralised trend
- Best results come from St Anne’s where up to 6.77g/t gold was intersected and Latitude will now undertake further drilling at this prospect
- Additional drilling will also be undertaken at Turnberry after all holes intersected mineralisation
- Latitude has ended the day 8.62 per cent in the red with shares trading at 5.3 cents
Latitude Consolidated (LCD) has received further assay results from the phase one drilling program at its Murchison Gold Project.
The 343-square-kilometre Murchison Gold Project lies in the highly prospective Murchison Gold Fields of Western Australia.
It has a 1.1-million-ounce gold mineral resource with 65 per cent in the measured and indicated categories.
Results come from the St Anne’s, Bunarra and Far East prospects as well as the Turnberry mineralised trend.
Mineralisation at the St Anne’s Prospect consists of quartz veining and pyrite alteration occurring between mafic dolerite and sedimentary shales.
New results include five metres at 6.77 grams of gold per tonne (g/t) from 103 metres; and 11 metres at 0.74g/t gold from 104 metres including four metres at 1.30g/t gold.
Given these results, Latitude will undertake phase two drilling later in the year.
Drilling at Bunarra targets a north-northwest-trending gabbro unit which has been intersected by a northeast-trending cross-shear.
Results include 18 metres at 1.15g/t gold from 235 metres including two metres at 5.41g/t gold; and six metres at 1.32g/t gold from 20 metres including one metre at 4.87g/t gold.
Additionally, a wide zone of quartz-tourmaline-arsenopyrite-pyrite mineralisation was intersected.
Drilling at the Far East Prospect targeted a north-south trending zone of conductivity coincident with gold anomalism.
Best results include four metres at 2.66g/t gold from 51 metres including one metre at 9.01g/t gold; and two metres at 2.39g/t gold from 58 metres including one metre at 4.51g/t gold.
Drilling at the Turnberry mineralised trend intersected mineralisation in all holes.
Results include four metres at 0.55g/t gold from 162 metres, two metres at 0.54g/t gold from 102 metres and nine metres at 0.39g/t gold from 177 metres.
Further drilling will now be undertaken to improve drill density and target primary mineralisation in fresh rock.
CEO Tim Davidson is pleased with the results intersected and will undertake further drilling later in the year.
“We have intersected high-grade mineralisation at St Anne’s in a geological setting that is known to host a significant gold endowment at Turnberry, only three kilometres to the north,” Mr Davidson commented.
“Results received from Bunarra and Far East are also pleasing given both are early stage exploration prospects which have had limited work completed to date and have strong potential for further mineralisation to be identified.
“The results continue to build the company’s confidence in the exploration prospectivity of the Murchison Gold Project and I look forward to providing further updates over the coming weeks as we receive the final assays from our phase one drilling program.”
Latitude has ended the day 8.62 per cent in the red with shares trading at 5.3 cents in a $52.12 million market cap.