Latitude 66 Targets 13,500oz Gold Resource with Laverton JV Acquisition

Strategic Acquisition in a Proven Gold District

Latitude 66 Limited (ASX, LAT) has taken a significant step forward in its Australian gold exploration ambitions by executing binding option and joint venture agreements to acquire an 80% interest in the Laverton Gold Project. Situated approximately 7 kilometres from Brightstar Resources’ Second Fortune deposit and within a prolific gold-producing region of Western Australia, the project offers a compelling blend of near-term development potential and exploration upside.

The Laverton Gold Project comprises a substantial landholding of 17 tenements covering 253 square kilometres, including four granted mining leases. Central to the acquisition is the historically mined Red Dog open pit, which hosts an Indicated and Inferred Mineral Resource Estimate of 231,000 tonnes at 1.82 grams per tonne gold, equating to approximately 13,500 ounces. This resource remains open for expansion, with recent drilling intercepts indicating promising extensions beyond the previously mined areas.

Exploration Upside at Red Dog and Tin Dog

Latitude 66’s immediate focus is on the Red Dog and Tin Dog prospects, both located on granted mining leases. Red Dog is characterised by flat-lying, shallow mineralisation with well-defined geometry and grade continuity, supported by a comprehensive drilling dataset. Historical mining extracted over 12,700 ounces at an average grade of 2.3 g/t, and the remaining resource offers a solid foundation for further resource definition.

Tin Dog presents an intriguing exploration target with a syenite-hosted gold system typical of intrusive-related gold deposits. Historic drill results at Tin Dog include high-grade intercepts such as 6 metres at 13.8 g/t gold, underscoring the potential for a maiden resource estimate. The geological setting and alteration patterns suggest significant scope for resource growth through systematic drilling.

Infrastructure and Development Potential

The project benefits from excellent infrastructure, including proximity to five processing mills within 100 kilometres and established haul road networks. This infrastructure advantage could enable a rapid development pathway, reducing capital intensity and accelerating time to production. Preliminary metallurgical testwork indicates gold recoveries of around 90%, consistent with district analogues, supporting the economic viability of the deposit.

Transaction Structure and Financial Position

The acquisition is structured through two separate option and joint venture agreements with Walter Scott Wilson and Raketa Resources Pty Ltd, granting Latitude 66 exclusivity to validate historical data and conduct exploration over a 12-month option period, extendable by up to 12 months. This staged approach limits upfront capital exposure and mitigates risk by ensuring confidence in the underlying dataset before full acquisition.

Latitude 66 has already mobilised a drill rig to commence an initial drilling campaign, signalling a proactive approach to resource definition. The company is well funded following the recent sale of its Greater Duchess joint venture interest, positioning it to advance the Laverton project alongside its Finnish assets.

Looking Ahead

Latitude 66’s Managing Director, Grant Coyle, emphasised the strategic fit of the Laverton acquisition within the company’s portfolio, highlighting the dual focus on Western Australia and Finland as providing a unique mix of near-term development optionality and exploration upside in stable jurisdictions. The coming months will be critical as drilling results emerge and the company progresses towards defining a JORC-compliant mineral resource and evaluating development pathways.