Southern Hemisphere Mining (ASX:SUH) says more drilling is warranted at the Llahuin Copper-Gold Project in Chile, to understand the scale of the link between its Ferro and Cerro deposits.
The $29.52 million market capitalisation company is conducting work to identify the best location for follow-up drilling of a potentially extensive mineralised system.
Southern Hemisphere announced today (19 February) it had received assay results of all recent drilling conducted at Llahuin, which demonstrates advancements in scale of the project with all targets intersecting mineralisation.
Some of the ‘significant’ results include hole 23LHRD035 with 76m @ 0.44% copper equivalent (CuEq) from surface, including 14m @ 0.79% CuEq from surface; and hole 23LHRC032 with 12m @ 0.66% CuEq from surface.
The drillholes were designed to test the western edge of the link between the Ferro and Cerro deposits, as well as confirm the geochemistry and geophysical interpretations.
Southern Hemisphere drilled 3 holes in previously untested areas between the deposits, and all holes returned ‘significant’ mineralised intersected.
The company reports the ‘stand-out’ hole was hole 23LHRD043 with 94m @ 0.32% CuEq from surface.
According to Southern Hemisphere, the findings potentially confirm that both deposits are a single mineralised system, spanning over at least 1.9km strike length, running north-northeast.
The company adds it also confirms the potential to increase the near surface Mineral Resource Estimate (MRE), combining Cerro and Ferro, alongside providing further confidence in the concept of a root stock or feeder zone beneath providing a deeper, potentially ‘higher grade’ zone for future drilling.
Southern Hemisphere Mining is a critical minerals explorer in Chile, focused on its copper, gold, molybdenum, manganese, and lithium assets.
The company’s flagship Llahuin project is host to a ‘substantial’ growing copper resource currently 680,000 tonnes of CuEq.
As of 31 December 2023, the company had $1.157 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Southern Hemisphere Mining
