The resource at Turnberrry has gone from a previous estimate of 4.2 million tonnes grading 2 grams per tonne for 271,000oz to 11.3Mt at 1.7gpt for 610,000oz.

Turnberry was previously focused-on (by then-owner Doray Minerals) as a lower tonnage, higher grade mill feed opportunity for the nearby, small capacity Andy Well mill (that's since been closed), while Latitude's strategy is for a potential larger scale development.

Mining studies for Latitude's Murchison assets are flagged to be released to the market later this year.

Latitude bought Andy Well (including Turnberry) from Silver Lake late last year for A$8 million, with Silver Lake having ended-up with the asset when it acquired Doray for its Deflector operation in late 2018.

Andy Well, which went into care and maintenance at the end of 2017, is currently the target of a 10,000m drill campaign by Latitude.

The new owner of the project started the quarter with $3.9 million cash.

Shares in Latitude were up 25% to 7.4c in morning trade, capitalising the company at $58 million.

The stock is up from levels around 2c late last year.