Latitude Consolidated Increases Murchison Gold Resource

THE DRILL SERGEANT: Latitude Consolidated (ASX: LCD) increased the Mineral Resource of the company’s Murchison gold project in Western Australia.

Latitude Consolidated has taken its total Resource to 13.1 million tonnes at 2.6 grams per tonne gold for approx. 1.16 million ounces.

The increase rides on the back of a 125 per cent increase to the Mineral Resource estimate for the Turnberry deposit that now stands at 11.3 million tonnes at 1.7g/t gold for 610,000 ounces.

Latitude explained this is the first Mineral Resource update to be completed at Turnberry since May 2019 when it was considered a non-core asset by previous owner Silver Lake Resources.

“We continue to build on our large, existing high grade gold resource and this 125 per cent upgrade at Turnberry is a fantastic outcome for Latitude,” Latitude Consolidated CEO Tim Davidson said in the company’s ASX announcement.

“In short order, we have been able to clearly demonstrate the true scale and growth potential of our high-grade gold projects in the prolific Western Australian gold producing region of the Murchison.

“Turnberry is a shallow, high-grade deposit that has significant strike of 1.5 kilometres and remains open at depth and along strike.

“Given the scale of mineralisation at Turnberry, the company is increasingly excited by the St Anne’s prospect, which lies 3.5 kilometres to the south of Turnberry and displays similar grade and width characteristics to that seen at Turnberry in the limited drilling completed at the prospect to date.

“We have a clear plan in place to grow the existing resource base through systematic drilling and with a suite of high-grade gold targets outside of the existing resource base we are looking forward to delivering further success.”