- Freehill Mining (FHS) has intersected high-grade iron, copper and gold mineralisation at the El Dorado Project in Chile
- In July, the company completed a five-day mapping and sampling program which focused on three high-grade targets
- The program returned outstanding grades of up to 36 per cent iron, 9.93 per cent copper and 22.10 grams per tonne gold
- Freehill has contracted Chilean exploration company, Tracking SpA, to complete a more detailed mapping and sampling survey of the El Dorado Project
- These activities are expected to begin by early September
- Company shares dropped a slight 1.16 per cent to trade for 8.5 cents just before market close
Freehill Mining (FHS) has received results from a five-day mapping and sampling program completed at the El Dorado Project in July.
The El Dorado Project is located in Chile and comprises eight tenements across 750 hectares. It adjoins the northern boundary of Freehill’s Yerbas Buenas Project.
The mapping and sampling work primarily focused on Target 1 which is in the southern part of the project area. Earlier this year, this area showed encouraging gold mineralisation including grades of up to 4.9 per cent copper, 22.8g/t gold and 50 per cent iron.
However, mapping and sampling work also focused on Target 2 and 3 which the company identified as being high-grade copper-gold targets.
Pleasingly, Target 1 returned results including 1.45 per cent copper, 36 per cent iron and 22.10g/t gold.
Target 2 returned high-grade copper and iron, however it did returned lower grade gold results. High grades include 4.02 per cent copper and 29 per cent iron.
Target 3 returned 9.93 per cent copper, 18.2 per cent iron and 1.59g/t gold.
“These assay results from this sampling program confirm that El Dorado is another richly endowed mineralised area that will potentially add to our magnetite resource at Yerbas Buenas, but it also gives us further value upside given the discovery of this copper and gold mineralisation,” CEO Peter Hinner said.
Freehill has contracted Chilean exploration company, Tracking SpA, to complete a more detailed mapping and sampling survey of the El Dorado Project.
The survey will include rock chip and soil sampling as well as more detailed surface mapping and its expected that the survey will begin by early next month.
Company shares dropped a slight 1.16 per cent to trade for 8.5 cents just before market close today, August 25.