WA-focused gold exploration company Latitude Consolidated Limited (ASX: LCD) (“Latitude” or “the Company”) has advised that a structural and geological mapping study (the “study”) has been recently completed at the Quinn’s Mining Centre (“QMC”) target area, located within the Mt Ida Gold Belt, Western Australia.
This structural study, undertaken by consultancy company Model Earth, included field and pit mapping designed to provide a comprehensive geological overview of the QMC project area, and has provided several new target areas while validating existing targets. Integral to the study was the structural assessment of the area which has resulted in a 3D structural framework using all available information.
Importantly, the study has highlighted the potential for the continuation of gold mineralisation 300m along strike to the north and at depth to the south at the Forrest Belle pit. A large portion of the current Forrest Belle resource is located below the pit floor so this outcome further underpins the Company’s resource expansion strategy.
Additional significant outcomes to be generated from the study, include:
- Possible continuation of the Boudie Rat mineralisation to the northwest of the current pit .
- Continuation of Boudie Rat mineralisation at depth with confirmation of northerly plunge
- Potential for further oxide mineralisation on the Boudies Nest Line and Belvidere – Boudie West line
- Further untested lode shear positions were identified using the combination of the recent structural framework mapping and interpretation of the aeromagnetics
Furthermore, the Company was very pleased with the Boudie Rat data, which indicates mineralisation appears to plunge to the north and continue at depth. The isosurfaces clearly highlight the down dip continuity of the Boudie Rat lode at depth and further RC drilling to test these depth extensions is required.
The study also highlighted the Belvidere – Boudie’s West line of workings located approximately 300m to the west of the Boudie Rat pit. A regional shear has been mapped linking the two prospects which are separated by 500m. Within this corridor only limited drilling has been completed despite many >1.0g/t Au gold intersections, and the Company sees significant scope to extend the known mineralisation into this area. The Boudie’s Nest line of workings remains relatively untested for approximately 250m with only 3 RC drill holes completed beneath the shallow historical workings.
Latitude’s Chief Executive Officer, Mike Edwards, commented:
“We are extremely pleased with the positive outcomes of this structural study, as it further validates the Company’s belief that our landholding in the Mt Ida Gold Belt region has the potential to host a much larger, shallow, high grade gold system.
“Latitude has previously mapped out a number of exploration objectives with a clear view to adding additional gold ounces to the Company’s existing resource base, and completion of the QMC structural study represents another key step forward in this process. With an improved geological understanding of the QMC region, our exploration team is now well placed to unlock the true potential of the Mt Ida Gold Belt.
“Planning for our next phase of exploration and drilling is now well advanced and we look forward to providing our shareholders with further updates in due course.”
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