Business · Energy & Commodities · 1 hr ago
Latitude 66 starts drilling to test expansion of Finnish gold-cobalt resource
Latitude 66 has started 2,500 metres of diamond drilling at its KSB gold-cobalt project in northern Finland.
The campaign will test whether the K1 deposit extends beyond its known boundaries.
KSB has a resource of 650,000 ounces of gold and 5,840 tonnes of cobalt, with K1 holding most of it.
Geological studies, geophysical surveys and earlier drilling point to possible mineralisation near K1, but the new drilling must test whether it is there.
A larger resource could support a longer mine life or more production flexibility for the proposed operation.
A September scoping study outlined a mine expected to operate for 7.5 years, while Latitude is now advancing a prefeasibility study.
The drilling results will help assess whether KSB’s development plans can be expanded.
Latitude 66 has begun an approximately 2,500-metre diamond drilling campaign at its KSB gold-cobalt project in northern Finland.
The drilling will test potential extensions of the K1 deposit, where geological interpretation, geophysics and historical drilling indicate possible further mineralisation.
KSB has a resource of 7.3 million tonnes at 2.7 grams of gold per tonne, containing 650,000 ounces of gold and 5,840 tonnes of cobalt.
The company says a successful result could expand the proposed operation’s scale or mine life as it advances a prefeasibility study.
- Who
- Latitude 66, an Australian-listed company.
- What
- It has started an approximately 2,500-metre diamond drilling program to test potential extensions of the K1 gold-cobalt deposit.
- When
- The campaign had begun by 14 October 2026.
- Where
- The KSB project in northern Finland.
- Why
- To test whether electromagnetic conductors represent mineralised extensions of K1 and could expand the resource.
This story does not have two clearly opposing sides.
Latitude 66 identified high-priority gold targets.
The company reported a positive scoping study for KSB.
Latitude 66 had begun its approximately 2,500-metre drilling campaign.
- Drilling program
- Approximately 2,500 metres
- Main target
- K1 extensions at the KSB project
- KSB resource
- 7.3 million tonnes at 2.7g/t gold; 650,000oz gold and 5,840t cobalt
- K1 resource
- 510,000oz gold and 5,010t cobalt
- Strongest conductor
- Approximately 320m along strike and up to 650m down-dip
- Project location
- Northern Finland
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What people are saying
Importantly, these targets are not based on geophysics alone
If drilling confirms that these conductors represent extensions of the K1 mineralised system, there is clear potential to materially grow the existing Resource