Southern Hemisphere Mining’s latest quarterly report highlights a significant increase in copper and gold prices, boosting the value of its Llahuin project, alongside promising drilling results and a high-grade copper discovery at surface.
- Copper and gold prices surge to US$13,000/t and US$5,000/oz respectively
- Llahuin project hosts 218.2 million tonnes resource at 0.38% copper equivalent
- Southern Porphyry JV drilling confirms extensive porphyry system footprint
- High-grade oxide copper discovered at Ferro South prospect
- Company holds $940k cash with $1.2m JV partner funding received
Metal Prices Boost Project Value
Southern Hemisphere Mining Limited (ASX – SUH) has reported a robust quarterly update for the period ending 31 December 2025, buoyed by a notable rise in copper and gold prices. Copper climbed above US$13,000 per tonne while gold surged past US$5,000 per ounce, significantly enhancing the valuation of the company’s flagship Llahuin Copper-Gold Project in Chile.
The Llahuin project now boasts a substantial resource base of 218.2 million tonnes at 0.38% copper equivalent, containing nearly half a million tonnes of copper, over 650,000 ounces of gold, and 12,500 tonnes of molybdenum. This resource underpins the project’s potential as a major contributor to the increasingly constrained global copper supply.
Encouraging Drilling Progress at Southern Porphyry JV
In partnership with FMR Resources Limited, Southern Hemisphere has advanced drilling at the Southern Porphyry joint venture. The maiden deep diamond drill hole reached a depth of approximately 1,470 metres, intersecting a broad intrusive and hydrothermal system consistent with a large porphyry copper-gold deposit. Geological indicators such as epithermal veining near surface and potassic alteration at depth confirm the presence of a significant mineralised system yet to be fully delineated.
While drilling was briefly paused due to mechanical issues, ongoing geochemical and geophysical analyses are refining the exploration model to prioritise upcoming drill targets. This methodical approach aims to unlock further resource growth potential within the JV area.
Surface Discovery of High-Grade Oxide Copper at Ferro South
Adding to the positive momentum, Southern Hemisphere announced the discovery of high-grade oxide copper mineralisation exposed at surface at the Ferro South prospect, part of the Llahuin project. Portable XRF readings indicated copper concentrations as high as 15%, a promising sign ahead of planned drilling to test the extent and continuity of this oxide zone.
This discovery not only enhances the project’s resource profile but also suggests potential for near-surface, higher-grade copper zones that could improve future mining economics.
Other Projects and Financial Position
Beyond Llahuin, the company is progressing its Cardawan Copper Project in Western Australia, targeting sedimentary-hosted copper deposits, and actively marketing the Los Pumas Battery Metals Manganese Project in Chile for potential joint ventures or sale. These assets diversify Southern Hemisphere’s portfolio across key battery and base metals.
Financially, Southern Hemisphere ended the quarter with $940,000 in cash, having invested $1 million in exploration activities. The company also received $1.2 million in drilling contributions from its JV partner, FMR Resources, underscoring the collaborative funding approach to advance exploration while managing capital efficiently.
Outlook
With metal prices strengthening and exploration drilling underway, Southern Hemisphere Mining is well positioned to expand its resource base and enhance project economics. The combination of a large, well-endowed copper-gold system and recent high-grade discoveries sets the stage for potentially transformative developments in the coming quarters.
Bottom Line?
As drilling advances and assays return, Southern Hemisphere’s Llahuin project could emerge as a key player amid tightening copper markets.
Questions in the middle?
- What will the assay results reveal about the grade and extent of mineralisation in recent drill holes?
- How will metallurgical testwork outcomes influence the economic viability of the Llahuin resource?
- What are the next steps and timelines for advancing the Southern Porphyry JV and Ferro South prospects?