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Location: 35 km N from Kuusamo, Finland
Level 2, 25 Richardson StPerthWestern Australia, Australia6005
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The project comprises two mining concessions (mining rights) registered in the Finnish mining register under the name “Juomasuo” (Mining Register No. 3965). The mining lease hosting the K1, K2 and K3 deposits is held by Latitude Cobalt Oy, and Latitude is also the underlying landowner for the areas covering the K1 and K2 deposits, providing ongoing security across these key areas.
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The Kuusamo Schist Belt (KSB) Project is located in northern Finland within the Sericite Quartzite Formation of the Palaeoproterozoic Kuusamo Schist Belt.The mineralisation is predominantly hosted by albitised, biotitised and sulphidised sericite quartzite and mafic volcanic rocks in a metamorphosed, supracrustal sequence. Native gold is chiefly associated with bismuth and tellurium minerals as inclusions in pyrite and cobaltite, between silicates, and in tiny gold-bismuth-tellurium rich veinlets oriented parallel with foliation and enveloped by silicates.All three deposits (K1, K2 and K3) include a number of generally steep dipping mineralised bodies controlled by a northwest trending structural corridor crossing an axial culmination in the northeast trending Käylä-Konttiaho Anticline. The K1 Mineral Resource model has a strike length of 400m, width of up to 100m, and extends from the natural surface to a depth of 470m. The deposit dips to the south-west at between 55° to 60° and exhibits south-west plunging components to the mineralised shoots.The K2 Mineral Resource model has a strike length of 280m, width of up to 50m, and extends from the natural surface to a depth of 70m. The deposit dips to the west at approximately 60°.The K3 Mineral Resource model has a strike length of 75m, width of up to 20m, and extends from natural surface to a depth of 90m. The deposit dips to the west at approximately 50°.
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