Southern Hemisphere Mining has wrapped up a 2,250m diamond drilling campaign at its Llahuin copper project, targeting extensions of mineralised zones with assay results due in August. The company also secured a $1 million loan facility while advancing its Southern Porphyry and Los Pumas manganese projects.
- 2,250m diamond drilling completed at Llahuin targeting copper extensions
- Assay results expected in August to guide resource growth
- Southern Porphyry target confirms broad copper-gold-molybdenum mineralisation
- Secured $1 million loan facility at 7.65% interest from related party
- Cash at quarter end $660k including funding facilities
Expanded Drilling Targets Mineral Resource Growth at Llahuin
Southern Hemisphere Mining Limited (ASX:SUH) has completed an expanded 2,250-metre diamond drilling program at its Llahuin Copper-Gold-Molybdenum Project in Chile, focusing on extending mineralisation beneath nine reverse circulation (RC) holes previously halted by groundwater. The drilling targeted the Ferro South, Ferro Central, and Cerro zones within the growing Cerro-Ferro mineralised corridor.
The holes being extended include significant intercepts such as 104 metres at 0.37% copper equivalent (CuEq) from surface and 105 metres at 0.71% CuEq from surface, indicating the potential for lateral and depth extensions of known mineralised zones. Surface mapping also revealed visible oxide copper at Ferro South, reinforcing the system's scale.
Assay results from this campaign are expected in August and will be pivotal in refining resource estimates and identifying higher-grade zones within the 218 million tonnes JORC resource that currently grades 0.38% CuEq. The company’s approach aims to unlock further resource growth in one of Chile’s promising porphyry copper systems.
Southern Porphyry Target Confirms Broad Mineralisation Ahead of Phase II Drilling
At the Southern Porphyry target, final assays from diamond hole 26LHDD073 confirmed widespread copper-gold-molybdenum anomalism associated with multiple intrusive phases and stockwork breccias. The increasing complexity of vein systems suggests proximity to the porphyry fluid source, with multi-element geochemistry, petrography, and geophysics being integrated to refine the geological model.
Phase II drilling is scheduled for the fourth quarter of 2026, aiming to target the higher-grade core of this six-kilometre-long mineralised corridor that hosts multiple porphyry centres. This work builds on previous encouraging assay results and geological interpretations that position Southern Hemisphere well for advancing the project’s exploration potential.
Los Pumas Manganese Project Marketed for Joint Venture or Sale
Southern Hemisphere continues to actively market its Los Pumas Battery Metals Manganese Project, an advanced deposit in Chile designed to produce manganese concentrate and high-purity products for agriculture, steelmaking, and electric vehicle markets. The company is seeking offtake, joint venture funding, or outright sale options for this long-life mine project, reflecting a strategic focus on battery metals amid growing demand.
Corporate Funding and Financial Position
To support ongoing exploration and operational activities, Southern Hemisphere secured unsecured loan facilities totaling $1 million at an interest rate of 7.65% from Merchant Holdings Pty Ltd, a related party entity. At quarter end, the company reported $660,000 available in cash and undrawn facilities, after spending $1.4 million on exploration, partially offset by $661,000 in joint venture partner contributions.
Despite a net cash outflow from operations of $1.03 million for the quarter, the company affirmed its expectation to maintain current operating cash flows and is reviewing funding alternatives to sustain its exploration programs. Southern Hemisphere emphasised aligning expenditure with available cash reserves while continuing to pursue its growth objectives.
Cardawan Copper Project Remains Early Stage
The company also reported on its early-stage Cardawan Copper Project in Western Australia, located strategically near major copper and lead-silver mines. The project is based on a sedimentary-hosted copper exploration concept, with tenement applications underway. While still nascent, Cardawan adds geographic and geological diversity to Southern Hemisphere’s portfolio.
Bottom Line?
August assay results from Llahuin drilling will be a key catalyst, while funding strategies remain under review amid tight cash reserves.
Questions in the middle?
- Will August assays confirm extensions and higher-grade zones at Llahuin?
- How will Phase II drilling at Southern Porphyry refine the project’s resource potential?
- What funding avenues will Southern Hemisphere pursue to extend its operational runway?