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Freehill Mining Ltd.
Summary
| Project: | Yerbas Buenas | |
|---|---|---|
| Deposit: | Yerbas Buenas | |
| Location: | Chile | |
| Commodities: | Iron | |
| Date: | 6/2/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-6-2020: Freehill Mining Ltd. announces a Resource Estimation report for its Yerbas Buenas deposit at the Yerbas Buenas project. Updated Mineral Resource Estimate for Project. Freehill Mining Limited (ASX: FHS ‘Freehill’ or ‘the Company’) is pleased to a | |
| Resources: | (Resources, I+I): 67.7Mt @ 19.1% Fe | |
| CP/QP: | [Resource]: Greg Curnow (Geos Mining Mineral Consultants) | |
| ABSTRACT: | Freehill Mining Limited (ASX: FHS ‘Freehill’ or ‘the Company’) is pleased to announce the completion of a JORC Mineral Resource Estimate for the new YB6 magnetite structure in the Arenas XI concession of 49 million tonnes at a grade of 20.4% Fe (see table 1). This now increases the Company’s total resource almost fourfold to over 67 million tonnes at an average grade of 19.1% Fe and 24.2% mass recovery1. This is a significant increase in terms of both grade and tonnage from the 18.4 Mt @15.1% Fe (Inferred plus Indicated) Mineral Resource Estimate reported on the YB 1 Structure just over 12 months ago (See ASX release: 6 May 2019). This is without doubt an outstanding result for Freehill’s shareholders and confirms that there is a significant magnetite resource in just two of the seven Yerbas Buenas structures identified (see Figure 3). The Company is in the enviable position of having defined an initial resource that can support commercial mining operations as well as having massive exploration upside from five more structures yet to be drilled. | |
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