Tenement plan

Latitude Acquires Pilbara Conglomerate Gold Exploration Tenure

WA-focused gold exploration company Latitude Consolidated Limited has secured Exploration Licence application E45/5050 (Levers Well Project) encompassing prospective basal conglomerate horizons of the lowermost Fortescue Group, as mapped by the Geological Survey of Western Australia (GSWA).

The 12.7km2 application is located approximately 90km west of Nullagine, along the margin of the contact between Fortescue Group basalts and sedimentary rocks, and underlying older Archaean basement.

This pure greenfield acquisition has been made based on State geological mapping and photo imagery. GSWA mapping shows at least 7km of potential ‘basal’ stratigraphy, including ~4km of a contact between a geologically ‘unassigned’ unit described as thick-bedded pebble conglomerate and coarse-grained and pebbly sandstones that lie directly over underlying Archaean rocks. The Company considers that this unit may be stratigraphically equivalent to Hardy Formation rocks basal rocks mapped to the west and east of the project.

A second area of this basal formation is preserved on underlying basement in the northeast part of the application.

No evidence of past exploration for gold can be found in public domain reporting, with recent exploration in the area dominated by iron ore exploration in which gold is not routinely assayed.

There is substantial exploration interest in the reported occurrences of coarse paleo-placer gold in lower Fortescue Group rocks, a style and setting unique from gold mineralisation associated with hydrothermal activity and evidenced by features such as quartz veining. These reported conglomerate-hosted occurrences have opened a considerable expanse of Pilbara geology for first-ever gold exploration.

Latitude’s geologists intend to visit the site as soon as possible to verify the GSWA mapping and to place the mapped conglomerates in stratigraphic context. The Company will also document any evidence of alluvial or hard-rock gold mineralisation in the tenement area.

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