Freehill Mining Ltd  ASX:FHS

Company

First Coverage

Logo
Freehill Mining Ltd ASX:FHS

$ 0.095

17-Oct-17

Overview

Freehill Mining Ltd ( ASX: FHS) is an Australian mining and exploration company headquartered in Melbourne with a focus on iron ore (magnetite), copper, and gold resources in Chile. Listed on the Australian Securities Exchange in January 2017 the company has a growth strategy focused on creating value for all stakeholders.

The founding team was involved in a number of smaller Chilean mining and processing projects which gave them the necessary land acquisition skills and understanding of government processes necessary to then set out to acquire strategically located and important assets in the Region IV area.

An additional 830 hectares of high-value exploration area has been acquired since 2019 taking the original area from 398 hectares at listing to a total project area of 1228 hectares.

Shortly after listing Freehill began trial mining of surficial hardrock magnetite material in the eastern portion of the Yerbas Buenas project area over what has subsequently become the YB1 JORC resource. Iron ore magnetite concentrates produced from the hard rock source were supplied under contract to a large pellet feed plant owned by Chile’s largest iron ore group Compania Minera Del Pacifico S.A. Following the acquisition of an 80-hectare block to the south and a drilling program shortly after, a JORC resource for the YB6 magnetite structure was declared.

The company is continuing to expand its iron ore resources and also commence exploration for copper, gold, and magnetite at its newly acquired El Dorado property.