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Freehill Mining Ltd.
Summary
| Project: | Yerbas Buenas | |
|---|---|---|
| Deposit: | Yerbas Buenas | |
| Location: | Chile | |
| Commodities: | Iron | |
| Date: | 5/6/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-5-2019: Freehill Mining Ltd. announces a Resource Estimation report for its Yerbas Buenas deposit at the Yerbas Buenas project. Initial mineral resource estimate at the project. Freehill Mining Limited (“Freehill” or “the Company”, ASX: FHS) is pleased | |
| Resources: | (Resource, I+I): 18.4Mt @ 15.1% Fe | |
| CP/QP: | [Resources]: Greg Curnow (Geos Mining) | |
| ABSTRACT: | Freehill Mining Limited (“Freehill” or “the Company”, ASX: FHS) is pleased to report that Geos Mining Minerals Consultants has now completed the modelling of the December 2018 drilling campaign data and issued the Company’s maiden JORC Mineral Resource Estimate (MRE), shown in Table 1, for the YB1 structure within the Company’s 100%-owned Yerbas Buenas magnetite project. The results are particularly significant because the total Resource far exceeds the 3.1-6.2 Mt estimated for YB1 contained in the Exploration Target1 (see ASX announcement Operations Report, 12 April, 2018). The YB1 structures magnetic footprint represents only 9% of the project’s mineralised area. This provides added confidence that the drilling of the remaining six target structures, YB2-YB7, could yield an aggregate MRE equal to, or well above the reported Exploration Target total of 35.7-50.9 Mt should similar results to those for YB1 be replicated. 2 Although the YB1 structure represents one of the smaller geophysical footprints, it was initially selected, in preference to the other six structures, because it contains the trial mining pit. As such, it coincides with where the majority of the Company’s technical knowledge stems from, including mining and sales of magnetite concentrates, and thus this maiden Resource Estimate will prove pivotal to planning the ramping up future commercial operations. | |
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