Freehill Mining Limited (ASX: FHS) has announced encouraging copper and gold assay results from its ongoing exploration program at the 100%-owned El Dorado project. Freehill Mining is an ASX-listed company focused on exploration and development of iron ore and copper-gold projects. The El Dorado project, spanning 730 hectares, adjoins the Yerbas Buenas magnetite mine and aggregates operation and consists of known IOCG style magnetite-copper-gold mineralisation.
The latest exploration, focusing on the northern part of the tenement, yielded high-grade copper and gold assays from rock chip samples. Key results included copper grades up to 4.0% Cu, 2.77% Cu, 2.7% Cu, 2.0% Cu and 1.5% Cu, and gold grades up to 1.71g/t Au, 1.31g/t Au, and 0.9g/t Au. These results build upon previous encouraging copper-gold findings at ‘Target A’, with earlier assays showing up to 13.52g/t Au and an average gold grade of 5.24 g/t Au over a 200-metre mineralised vein.
The company plans to conduct follow-up exploration activities to better define small-scale mine development opportunities and explore potential mineralised bodies at depth. In addition to exploration, Freehill is making progress with its cash-generating aggregates business, with the second site in the commissioning phase and customer engagement advancing. Deliveries from the second aggregates site are expected to commence this month, with a more detailed update to follow.
Ben Jarvis, Chairman of Freehill, commented that the latest assays from El Dorado are encouraging and warrant further exploration to define new areas of interest and assess the potential of delineated areas. He added that the company’s focus remains on the start-up of its second aggregates site and advancing the Yerbas Buenas magnetite mine, with a detailed update on the aggregates site progress expected soon.
