Latitude 66 Lodges KSB Exploration Permits, Eyes Q2 2026 Grant and Project Advancement

Latitude 66 (ASX: LAT) has significantly advanced its KSB Project in Finland by lodging exploration permit applications, a crucial step expected to unlock future development and exploration activities.

Latitude 66 has lodged the applications with Finland’s Tukes covering the project's K1, K2, and K3 targets.

This action follows recent amendments to the Finnish Mining Act, and the company now plans to restart development and exploration activities.

Upcoming milestones include the release of an Optimised Scoping Study and the submission of the Phase 1 Environmental Impact Assessment (EIA) Program, each targeted for Q2 2026.

A drilling campaign is anticipated for June 2026, and a Prefeasibility Study is targeted for completion by end-2026.

André van Wageningen has been appointed as Project Development Manager to lead these studies and permitting efforts.

KSB Scoping Study Economics

The estimated mineral resources for K1-3 total 7.3Mt at 2.7g/t Au and 0.08% Co, with over 85% of the contained ounces categorised as Indicated.

A March 2025 Scoping Study for the KSB Project outlined a standalone operation with a 7-year mine life.

This study projected an annual gold production of 65,000oz and 465t of cobalt.

It reported an approximate post-tax NPV8 of US$433m and a post-tax IRR of 98%, with a capital expenditure of approximately US$100m.

Laverton Drilling Completed

Latitude 66 recently completed its Phase 2 reverse circulation (RC) drilling program at the Laverton Gold Project in Western Australia.

The program, which targeted extensions at the Red Dog and Tin Dog prospects, involved 38 RC holes for a total of 3,914m.

This drilling was designed to extend and confirm known mineralisation, as well as test new geological concepts.

Assay results are expected in the coming weeks and will be crucial in guiding the next phase of drilling and potential resource growth.

High-Grade Gold Mineralisation

Previous drilling efforts at Laverton had already confirmed wide, high-grade gold mineralisation across multiple lodes at Red Dog and Tin Dog.

The Red Dog JORC (2012) Mineral Resource stands at 231kt at 1.82g/t Au for 13,500oz.

An Exploration Target of 6.5-11Mt at 1.0-1.3g/t Au (for 200-450koz contained Au) has been identified for the two prospects.

A follow-up drilling program was scheduled for February 2026 to support further resource growth and JORC conversion, building on strong Phase 1 results.

Regulatory and Corporate Snapshot

Latitude 66's funding position was bolstered by the sale of its remaining interest in the Greater Duchess Joint Venture.

Consideration for the sale was A$2m in cash and A$4m in Carnaby Resources shares.

This funding enabled the full repayment of an A$750,000 Argonaut loan.

In a strategic move, Latitude 66 also has a binding agreement with Iondrive (ASX: ION) to apply Desolvation Extraction Solution (DES) technology to upgrade KSB cobalt concentrates.