Southern Hemisphere Mining Initiates Drilling at Llahuin Copper-Gold-Moly Project
SUH (SUH) Share Update September 2024 Wednesday 18th
Southern Hemisphere Mining to Begin Drilling at Llahuin Project
Southern Hemisphere Mining Limited (ASX: SUH, FWB: NK4) has announced the commencement of a significant drilling program at its flagship Llahuin Copper-Gold-Moly Project in Chile, set to begin in early October 2024.
Instant Summary:
- Drilling contract signed with R Munoz Drilling from La Serena, Chile.
- Up to 5,000 meters of RC and Diamond drilling planned.
- Program aims to upgrade the current 680kt CuEq resource.
- Focus on delineating deeper core of Cerro-Ferro deposits for higher grades.
- Curiosity Copper-Gold Porphyry target to be advanced with deep diamond hole.
Drilling Program Details
Southern Hemisphere Mining has entered into a contract with R Munoz Drilling to undertake a comprehensive drilling program at the Llahuin Copper-Gold-Moly Project. The program, which includes up to 5,000 meters of RC and Diamond drilling, is scheduled to commence in early October 2024. The primary goal is to enhance the current 680kt CuEq resource and prepare for a JORC resource update in the second half of 2025.
The drilling will focus on increasing the tonnage and potentially higher grades of copper, gold, and molybdenum. A key aspect of the program is the delineation of the deeper core of the Cerro-Ferro deposits, which have a strike length of over 2 kilometers. This effort aims to establish the economic parameters necessary for future mining studies.
Target Areas
The program will also target the large Curiosity Copper-Gold Porphyry. A possible deep diamond hole, with an RC pre-collar, is planned once target depth refinement studies are completed. Initial RC drilling will focus on near-surface Cu-Au mineralization intersected in previous drilling, such as the 48 meters at 0.48% CuEq from surface in hole 23LHRC042.
Regular updates will be provided throughout the drilling process, with assay results expected to start arriving by mid-November 2024.
Resource and Historical Context
The Llahuin Project currently boasts a total measured and indicated resource of 169 million tonnes at 0.28% Cu Equiv, including 112 million tonnes of measured resources. The project is located in Chile, the world's leading copper-producing country, known for its potential for major new copper discoveries.
Previous drilling has highlighted the potential of the Cerro-Ferro deposits and the Curiosity Copper-Gold Porphyry target. The new drilling program aims to build on these findings and further delineate the resource, providing a clearer picture of the project's economic viability.
The commencement of this drilling program is a positive development for Southern Hemisphere Mining. The potential to upgrade the current resource and delineate higher-grade zones could significantly enhance the project's value. This news is likely to be well-received by investors, as it demonstrates the company's commitment to advancing its flagship project and unlocking its full potential.
Investor Reaction:
Analysts are expected to react positively to the news, given the potential for resource upgrades and higher grades. The market will be closely watching the initial assay results anticipated in mid-November 2024. Investors may see this as a strategic move to increase the project's attractiveness and long-term viability.
Conclusion:
Investors should keep an eye on the progress of the drilling program and the subsequent assay results. Southern Hemisphere Mining's proactive approach to resource development at the Llahuin Project could lead to significant value creation. Subscribing to updates and staying informed about the company's advancements will be crucial for making informed investment decisions.