Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • LAT share price rose 38.3% to AUD 0.065 per share on 5 September 2025.

  • Exploration to begin at the 15.2km² Piastri tenement, located 200m from the 1.96Moz AuEq Ricciardo gold-antimony deposit.

  • Geological mapping and first-pass soil sampling scheduled for the current quarter to test multiple shear-parallel structures.

Latitude 66 Limited (ASX:LAT) announced that exploration activities will soon commence at its newly granted Piastri tenement, located in the Yalgoo-Singleton Greenstone Belt, Western Australia. The 15.2km² licence lies just 200 metres from the Ricciardo gold-antimony deposit, a 1.96Moz AuEq resource currently under acquisition by Capricorn Metals (ASX:CMM) in a deal valued at approximately AUD 188 million.

The Piastri tenement is considered prospective for shear-hosted gold-antimony mineralisation and represents a significant addition to Lat66’s exploration portfolio.

Regional Significance

The Piastri licence is contiguous with Warriedar Resources Limited’s (ASX: WA8) Golden Range Project, which holds a 2.3Moz AuEq Mineral Resource and is also subject to acquisition by Capricorn Metals. The mineralisation at Golden Range is largely hosted within the Mougooderra Shear Zone, a major north-south structure that also hosts Ricciardo, M1, and Monaco-Sprite deposits.

The Mougooderra Shear Zone extends into the Piastri tenement through structurally related splays and parallel zones. Initial interpretations of regional aeromagnetic data suggest the presence of multiple shear-parallel structures east of the main shear zone. These splays are believed to be potential hosts of gold mineralisation, drawing comparisons to similar settings within the Yilgarn Craton.

Historical Exploration and Potential

Previous work within the Piastri area has been limited. Historic exploration included 22 RAB drillholes across a 10km strike length, leaving large parts of the tenement underexplored. Importantly, the area lies along strike from an earlier reported intersection of 6m at 4.3g/t Au (hole MTAC002), supporting the potential for high-grade mineralisation within the footwall splays.

Analogous mineralised settings across the Yilgarn Craton, such as the Zuleika Shear Zone and Laverton Tectonic Zone, host significant gold deposits along splays and subsidiary structures. 

Upcoming Work Program

Latitude 66 has outlined a staged program to begin in the current quarter. Planned activities include geological and structural mapping alongside soil sampling surveys designed to test interpreted shear-parallel targets. The results will guide subsequent drill targeting across the tenement.

The company views the tenement’s proximity to major deposits and its position within a highly mineralised shear zone as important foundations for advancing exploration.

Market Response

Following the announcement, Latitude 66’s share price increased 38.3% during the trading session on 5 September 2025, to trade at AUD 0.065 per share.