Freehill Mining Achieves 71.7% Fe Concentrate Grade in Latest Tests
Freehill Mining reports strong magnetite concentrate grades at its Yerbas Buenas project, while advancing its aggregates business and exploring copper-gold opportunities in Chile.
- Yerbas Buenas magnetite test work achieves up to 71.7% Fe concentrate grade
- 120kg sample ground to 3mm confirms consistent high-grade results
- Aggregates business shows turnaround and growth momentum in October
- Ongoing mine development activities pending approvals and equipment
- Exploring copper and gold opportunities amid rising commodity prices
Strong Magnetite Grades Reinforce Yerbas Buenas Potential
Freehill Mining Limited (ASX – FHS) has delivered encouraging results from further magnetite test work at its 100%-owned Yerbas Buenas project in Chile. Following a successful bulk sample earlier this year, the company processed an additional 120kg of material ground to 3mm, achieving a concentrate grade of approximately 71.7% iron (Fe). This closely mirrors previous results from coarser 6mm samples, underscoring the consistent quality of the ore.
The test work involved magnetic separation techniques using drums operating at different speeds, refining the product to a high-grade concentrate. These findings bolster Freehill’s confidence in the orebody’s economic potential and support ongoing efforts to advance mining operations, subject to regulatory approvals, pit design finalisation, and securing processing equipment.
Aggregates Business Gains Traction Amid Strategic Focus
While the Yerbas Buenas project remains a core asset, Freehill’s current priority is scaling its aggregates business, which has entered a growth phase. October has marked a pivotal turnaround in operational performance, with a fuller update expected ahead of the company’s September quarterly report. This diversification strategy aims to generate early revenue streams with relatively low capital expenditure, providing financial flexibility as mining development progresses.
Exploring Copper and Gold Prospects in Chile
In addition to iron ore, Freehill is actively pursuing opportunities to broaden its exposure to copper and gold within Chile’s prolific mining region. Chairman Ben Jarvis highlighted the company’s awareness of the recent rise in gold prices and the sector re-rating many Chilean peers exploring copper-gold deposits. Freehill is conducting due diligence on potential acquisitions or joint ventures that could complement its existing portfolio, aiming to capitalise on favourable market conditions.
Chief Executive Officer Paul Davies emphasised that while mine development at Yerbas Buenas is advancing, the company remains cautious and methodical, balancing exploration ambitions with operational realities. The combination of high-grade magnetite results, a growing aggregates business, and strategic copper-gold evaluations positions Freehill as a company with multiple avenues for growth in a competitive mining landscape.
Bottom Line?
Freehill’s strong magnetite grades and diversified growth strategy set the stage for a transformative phase, investors will watch closely for development milestones and copper-gold deal progress.
Questions in the middle?
- What is the timeline and capital requirement for Yerbas Buenas mine development and processing setup?
- How significant is the aggregates business to Freehill’s near-term revenue and profitability?
- Which copper-gold opportunities is Freehill targeting, and what are the prospects for deal execution?
