- Latitude Consolidated (LCD) receives further results from phase one drilling at its Murchison Gold Project in Western Australia
- Phase one drilling is testing the Margaret, Eastern Link and Highway targets with the prospective targets to be advanced with further drilling
- Grades peaked at 7 grams of gold per tonne (g/t) from Margaret, 1.52g/t gold from Eastern Link and 1.71g/t gold from Highway
- Only the Margaret target will be followed up with work set to begin in the second half of the year
- Latitude is down 7.69 per cent on the market with shares trading at 6 cents at 2:04 pm AEST
Latitude Consolidated (LCD) has received further results from phase one drilling at its Murchison Gold Project in Western Australia.
Phase one drilling is continuing with aims to test the Margaret, Eastern Link and Highway targets.
The most prospective targets will then be advanced with further drilling in the second half of the year.
Drilling at the Margaret target has confirmed the continuity of the mineralisation over 100 metres of strike.
Mineralisation remains open at depth and the grade and width of the mineralisation improves below surface.
Results include three metres at 2.52 grams of gold per tonne (g/t) from 136 metres, including one metre at 7g/t gold; and nine metres at 1.14g/t gold from 150 metres, including two metres at 3.09g/t gold.
Given these results, Latitude will undertake further drilling to target the down-plunge extensions.
Drilling at Eastern Link followed up on a historical intercept of 10 metres at 8.8g/t gold, including one metre at 84.7g/t gold.
Two holes were drilled to test a linking structure with a best result of three metres at 0.83g/t gold from 112 metres, including one metre at 1.52g/t gold intersected.
Drilling at the Highway target followed up on a historical intercept of 11.50g/t gold.
While a number of mineralised structures were intersected, the grades were lower than that observed in historical drilling.
Better results include five metres at 0.43g/t gold from 73 metres, including one metre at 1.71g/t gold; and four metres at 1.31g/t gold from 48 metres.
CEO Tim Davidson said: “We are pleased with the results being delivered from our phase one drilling program which continues to systematically test several exploration targets across the Murchison Gold Project, with a view to prioritising the most prospective targets ahead of phase two drilling later this year.”
Latitude was down 7.69 per cent on the market with shares trading at 6 cents at 2:04 pm AEST.