Latitude 66 Drills Next to K1 Deposit to Test Resource Growth
Key Takeaways
- Latitude 66 has started a roughly 2,500m diamond drilling program at KSB, targeting a conductor modelled over 320m of strike and up to 650m down-dip beyond the existing K1 Resource.
- K1 already holds 510,000oz Au and 5,010t Co, within a project total of 7.3Mt @ 2.7g/t Au for 650,000oz and about 90% Indicated.
- Historical drilling around the conductor margins returned 5.6m @ 7.3g/t Au, 2.3m @ 4.1g/t Au and 3.5m @ 2.6g/t Au, so targeting is not based on geophysics alone.
- The program runs alongside the KSB Prefeasibility Study, following the 10 September 2026 Scoping Study that flagged K1 growth as a route to greater scale and mine life.
- No timelines were given for drill results or PFS completion, and the conductors remain untested until core is logged.
Drilling starts at KSB Gold-Cobalt Project to test K1 resource growth
Drilling has begun at the KSB Gold-Cobalt Project in northern Finland, and the targets sit right next to an existing deposit. Latitude 66 Limited (ASX: LAT) (“Lat66”) announced on 14 October 2026 that an approximately 2,500m diamond drilling program has commenced, aimed at large-scale resource extension targets immediately proximal to the K1 gold-cobalt deposit.
The project currently hosts a global Mineral Resource of 7.3Mt @ 2.7g/t Au for 650,000oz Au and 0.08% Co for 5,840t Co, with approximately 90% classified as Indicated. Drilling runs alongside the KSB Prefeasibility Study (PFS), and the company describes resource expansion as an important opportunity to enhance the scale and mine life of the project.
Key facts from the announcement:
- Approximately 2,500m of diamond drilling has commenced
- Targets are immediately adjacent to, and beyond, the existing K1 Mineral Resource
- The work forms part of a broader program alongside the KSB PFS
- Lat66 describes the KSB Project as its flagship asset
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Why do the K1 targets stand out?
Lat66 says the targets are backed by several independent datasets, not a single signal. Geological and structural interpretation, Fixed Loop Electromagnetic (FLEM) modelling and historical drilling all feed into the program design. FLEM is a geophysical survey method that models electrically conductive bodies underground, which can indicate mineralisation.
Principal conductor target
The principal target is a continuous conductor modelled over approximately 320m of strike and up to 650m down-dip, extending beyond the existing K1 Resource envelope. The company says the scale of the modelled conductive plates provides the potential for a successful program to materially increase the existing K1 and broader KSB Mineral Resource.
The conductors are still untested. Drilling will show whether they represent extensions of known mineralisation.
Historical drilling support
Historical drilling around the margins of the conductor has returned anomalous and high-grade gold mineralisation, including:
- 5.6m @ 7.3g/t Au
- 2.3m @ 4.1g/t Au
- 3.5m @ 2.6g/t Au
The announcement attributes these results to the DCX ASX Announcement of 26 April 2024 (Prospectus). Two FLEM surveys targeted positions northwest and southeast of the existing Mineral Resource, where fold-controlled positions are analogous to those hosting K1. For you, that matters because the targeting does not rest on geophysics alone.
Grant Coyle, Managing Director
“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.”
What does the K1 and KSB resource base look like?
K1 is described as a high-confidence cornerstone of the resource, containing 510,000oz Au and 5,010t Co, with approximately 79% of its 5.8Mt Mineral Resource classified as Indicated.
What is a resource extension drilling program?
Diamond drilling extracts solid rock cores from depth, allowing geologists to check whether a modelled conductor coincides with mineralisation. Resources are split by confidence: Indicated resources are better defined than Inferred ones. A larger, higher-confidence resource may help support the scale and mine life of a project, which is how Lat66 frames the opportunity within the PFS.
| Deposit | Tonnage (kt) | Au (g/t) | Au (oz) | Co (t) |
|---|---|---|---|---|
| K1 | 5,800 | 2.7 | 510,000 | 5,010 |
| K2 | 1,050 | 3.1 | 105,000 | 550 |
| K3 | 450 | 2.2 | 32,000 | 280 |
| Grand total | 7,300 | 2.7 | 650,000 | 5,840 |
Figures are from Appendix 1 (KSB Project JORC Mineral Resource Statement) of the announcement.
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How does KSB fit with Laverton in Lat66’s strategy?
The drilling follows the recently completed 2026 Scoping Study (released 10 September 2026), which contemplates a standalone open-pit and underground operation and specifically identifies near-mine K1 resource growth as an opportunity to enhance the project. The company says the study provides the foundation for ongoing PFS activities.
In parallel, Lat66 continues to advance its Laverton Gold Project in Western Australia. Its Red Dog and Tin Dog Prospects have a combined Mineral Resource Estimate of 339koz gold.
Managing Director Grant Coyle said this gives Lat66 “two significant platforms for resource growth and development across Tier-1 mining jurisdictions.”
What should you watch? Drilling results from the K1 extension program will show whether the conductor targets translate into mineralisation. The announcement does not give timelines for drilling results or for completion of the PFS.
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