WA gold producer Latitude Consolidated has completed the acquisition of an 80% interest in the Mt Ida South gold projects.
The company now holds an 80% interest in the project tenements located in the highly prospective Mt Ida gold district of WA.
“The tenement package (excluding excisions) includes both granted tenements and tenement applications,” the company told the ASX.
“This acquisition, together with additional ground which Latitude has pegged in its own right, takes the total Mt Ida area under control to 312km2.”
Latitude said that it has located a vast amount of exploration data within this newly acquired JV ground dating back from the late 1960’s (nickel boom) to present times.
According to the company, this exploration data has uncovered significant evidence that suggest the tenement area is highly prospective for both gold and nickel.
“These datasets are the product of many generations of exploration completed by a number of companies who have explored within the Mt Ida district. They have yet to be scrutinized and validated to the point where they can be considered JORC 2012 compliant,” reads the statement.
Latitude said the initial investigation yielded a number of target areas that stand out, including the Golden Ridge, Golden Ridge North and Wedgetail prospects, as well as Unexpected East and Pianto’s Find North targets.
“Latitude believes that this tenement package is highly prospective and complements the Company’s existing ground-holding within the Mt Ida Greenstone belt,” it says in the statement.
“The review of the historical datasets is continuing and the Company will update the market as this work progresses.”