- Freehill Mining (FHS) has completed all drill core assaying from its recent drilling program at the Yerbas Buenas magnetite project in Chile
- As part of this recent program, approximately 18 diamond holes were completed at the YB6 structure
- Currently, a JORC mineral resource estimate for the YB6 structure is underway, and will be completed and reported on before the end of May
- Davis Tube Recovery tests of the YB6 structure indicate that high-quality, low-impurity pellet feed of 67 to 69 per cent iron can be produced
- These tests are used to predict the potential pellet feel concentrate quality
- Freehill is up 7.41 per cent and shares are currently trading for 2.9 cents each
Freehill Mining (FHS) has completed all drill core assaying from its recent drilling program at the Yerbas Buenas magnetite project.
Yerbas Buenas is located in Region IV on the coast of Chile, about 500 kilometres north of the capital of Santiago.
Freehill claims that the project has proven magnetic mineralisation and is prospective for both gold and copper mineralisation.
As part of this recent program, approximately 18 diamond holes, for 4270 metres, were completed at the YB6 structure. An additional hole was then drilled to the north to test for surface mineralisation.
Currently, a JORC mineral resource estimate for the YB6 structure is underway and will be completed and reported on before the end of May.
Initial results from the Davis Tube Recovery test work suggests that the YB6 structure contains a magnetite resource that is potentially capable of producing a premium, high-quality pellet feed between 67 and 69 per cent iron with low impurities.
Concentrate grading more than 70 per cent iron has also been produced multiple times during testing.
Davis Tube Recovery tests are used to predict the potential pellet feed concentrate quality. It generates the proportion of magnetite and concentrate of the deposit.
“We are confident that the pending updated mineral resource estimate that we will deliver before the end of this month will show a material increase in tonnage,” CEO Peter Hinner commented.
“Equally pleasing is the results from the David Tube Recovery tests, which show categorically that our Yerbas Buenas ore can produce high-quality, low impurity pellet feed concentrates that will surely be in high demand from off-takers,” he added.
Freehill is up a healthy 7.41 per cent and shares are trading for 2.9 cents each at 12:55 pm AEST.