Significantly for Latitude, the UNDERCOVER project is being coordinated by the Geological Survey of Finland, which is the driving force behind the initiative to access EU funding for deeper exploration, particularly on its home turf.

The company says KSB’S involvement in the UNDERCOVER project has endorsed Latitude’s decision to explore the area and highlights its importance to the Finnish Geological Survey (GTK) as a highly prospective site for deep exploration. To emphasise the point, the Geological Survey of Finland will also host the kick off meeting in Kuusamo in February next year.

Latitude 66’s managing director Grant Coyle said: “The Company is looking forward to working alongside GTK to support the EU’s UNDERCOVER project and drive accelerated exploration efforts across the highly prospective KSB region. The UNDERCOVER grant funding awarded under the Horizon Europe program vindicates our view on the upside potential at the KSB Project.”

Latitude recently completed an 18-hole, 2197m diamond drilling program in the southern parts of its leases in a bid to lift the project’s overall resource. While it awaits the assays from the campaign, two of the holes are also being used to run down-hole electromagnetics to help a geophysics team. This work will allow the company to test for further conductive plates.

The UNDERCOVER project aligns well with the EU’s broader goals of securing a sustainable supply of raw materials critical for industries ranging from renewable energy to electronics. Given the insatiable demand for the metals and increasing geopolitical unrest, a secure supply of these vital commodities has become a top priority for the western world.

Latitude’s contribution to the collaborative effort would appear to strengthen the importance of its KSB project as a future supplier to Europe and highlights the geological opportunity the ASX-listed company has before it.

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