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Freehill Mining Ltd.
Summary
| Project: | Yerbas Buenas | |
|---|---|---|
| Deposit: | Yerbas Buenas | |
| Location: | Chile | |
| Commodities: | Iron | |
| Date: | 3/5/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-3-2019: Freehill Mining Ltd. announces an Exploration/Drilling Update report for its Yerbas Buenas deposit at the Yerbas Buenas project. Drilling results incl. 172m @ 24.4% Fe from 14m. Freehill Mining Limited (“Freehill” or “the company”, ASX: FHS) is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Hinner (Internal) | |
| ABSTRACT: | Freehill Mining Limited (“Freehill” or “the company”, ASX: FHS) is pleased to report outstanding assay results from the maiden drill program at the flagship Yerbas Buenas magnetite project in Chile. As reported, a 4,300m of Reverse Circulation (RC) drilling program was successfully completed on 11 December with holes ranging from 150m to 250m in depth. Assay results have been received for the six holes that have been drilled at the YB6 structure. Key highlights from first set of assays include. Freehill’s Chief Executive Officer Peter Hinner commented: “These are simply outstanding assays and whilst many of the intersections exhibit high grade mineralisation, the highlight is the 18m of near pure magnetite we intersected less than 50 metres from surface. These assay results are a major milestone and value catalyst for Freehill as they unlock a great deal of Yerbas Buenas’ value. “We have now demonstrated that the magnetic targets identified by geophysics and now drilling contain a high quality magnetite suitable for the large, local pellet feed plant owned by Chile’s largest iron ore producer Compania Minera del Pacifico (“CMP”), a subsidiary of CAP. “Yerbas Buenas is shaping up as a significant Chilean magnetite project with established offtake agreements and third party processing operations available to us only 35 kilometres from site. We look forward to reporting a JORC Mineral Resource Estimate during March and also updating our Conceptual Exploration Target.” | |
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