⚒️ Southern Hemisphere Mining Limited reports Higher Grade Copper-Gold Drill Intercepts and a 15% Strike Extension of Cerro-Ferro in its latest updated on expansion of its Llahuin Copper-Gold-Moly Project in Region IV Coquimbo, Chile.

HIGHLIGHTS
  • 2024 RC drilling program totals 2,728m drilled in 26 holes
    Includes results of:

    • 24LHRC065 – 105m @ 0.64% CuEq from surface to EOH, incl. 16m @ 0.85% CuEq from surface and 26m @ 0.91% CuEq from 78m
    • 24LHRC055 – 81m @ 0.49% CuEq from 2m to EOH, incl. 48m @ 0.58% CuEq from 30m
    • 24LHRC058 – 132m @ 0.48% CuEq from surface incl. 60m @ 0.67% CuEq from surface
    • 24LHRC048 – 122m @ 0.41% CuEq from 2m, incl. 48m @ 0.52% CuEq from 66m
    • 24LHRC051 – 16m @ 0.51% CuEq from 102m
  • Further drill results pending
  • Diamond drilling testing potential depth extensions in Q1 2025
  • Strike 15% extension of the Cerro-Ferro system by a further 300m to 2.2km, remains open
  • Magneto-Telluric (MT) survey field data acquisition for refinement of deep potentially large copper targets is complete

Chairman Mr Mark Stowell reported: 

“Our team at the Llahuin Copper-Gold-Moly Project continues to deliver with results like hole 24LHRC065 grading 105m @ 0.64% CuEq from surface to end of hole (EOH) and increasing grade at depth with 26m @ 0.91% CuEq from 78m. Several of these RC holes are now ready for diamond tails to advance the depth and grade potential.

The results reinforce the large scale of the Llahuin Copper-Gold-Moly deposit’s to over 2.2km for CerroFerro, and open along strike both north and south. Mineralisation is from surface, optimum for open-pit mining configuration, and results will be particularly interesting as we diamond drill deeper.

A more detailed Magneto-Telluric (MT) survey extending over and past the Cerro and Central deposits and covering the entire Curiosity Target is nearing completion.

MT is a passive geophysical method which uses natural time variations of the earth’s magnetic and electrical fields to measure the electrical resistivity of the sub-surface deep target geophysics systems. MT has been successful in identifying a number of world-class copper porphyry deposits, including the Chilean Valeriano deposit – Atex Resources (TSX: ATX.V). 

We are on track to advance the resource towards an upgraded Mineral Resource Estimate (MRE) for the Llahuin Copper-Gold-Moly deposits in H1 2025.It is important to also note that our longer-term exploration journey at Llahuin continues to show that the full potential of this flagship asset extends far beyond what has been published in JORC resources to date.”

⚒️ RC Drilling Program 2024

The 2024 RC drill program completed a total of 2,728m drilled in 26 holes, 24LHRC044 to 069, and from depths of 53m to 168m.

Results to drill hole 24LHRC065 are reported herein, with results including:

  • 105m @ 0.64% CuEq from surface to EOH, incl. 16m @ 0.85% CuEq from surface and 26m @ 0.91% CuEq from 78m – 24LHRC065
  • 132m @ 0.48% CuEq from surface incl. 60m @ 0.67% CuEq from surface – 24LHRC058
  • 81m @ 0.49% CuEq from 2m to EOH, incl. 48m @ 0.58% CuEq from 30m – 24LHRC055
  • 120m @ 0.42% CuEq from 2m, incl. 58m @ 0.49% CuEq from 66m – 24LHRC048
  • 16m @ 0.51% CuEq from 102m – 24LHRC051

These have resulted in the extension of the strike of the Cerro-Ferro system by a further 300m to 2.2km, and open potentially to the north and the south of Ferro.

These results further add to the results from the 2023 drilling campaign which included:

  • 156m at 0.51% CuEq from surface in 23LHRD027, incl. 82m at 0.67% CuEq from 46m and 26m at 0.75% CuEq from 48m
  • 136m at 0.47% CuEq from 42m in 23LHRD028, incl. 32m at 0.66% CuEq from 100m

Assays for the remaining drill holes to 24LHRC069 are in progress at the laboratory and results will be reported in due course.

As shown above, the drilling to date is all shallow, from surface and over a large strike of 2.2km and open. This significantly advances the open pit potential of Llahuin, and validity of testing for longer term large underground mining scope. The area between the Cerro and Ferro deposits remains open for drilling to add significant tonnes to the project.

⚒️ Water

All holes drilled in this campaign have intersected water at 40-60m, and a water test on hole 24LHRC053 demonstrated a flow rate of 40 litres per minute. Water test work indicates that it is fresh but not potable. This is positive for future development of Llahuin having water from the site that could be used in mine operations, potentially all sourced from the mine itself, but will be subject to further studies for confirmation at the appropriate stage.

Many of the RC holes ended in mineralisation and were stopped early due to water ingress to ensure all RC samples collected were kept dry. These holes will be extended by diamond tails Q1-2.

Figure 1. Plan view showing the locations of drillholes reported in this announcement. Holes in white are 2023 drill collars.

Figure 2. Cross section showing holes 24LHRC064 and 24LHRC065, which are both planned for diamond tails in the upcoming drilling campaign.

Figure 3. Cross section showing 24LHRC058, which will be extended by diamond drilling.

Figure 4. Cross section showing 24LHRC047 and 24LHRC048. This is a new area of mineralisation outside of the current Mineral Resource, potentially adding tonnage.

Figure 5. Cross section showing 24LHRC050 and 24LHRC051, and new mineralised zone outside of the current Mineral Resource.

Figure 6. Cross section showing 24LHRC053 and 24LHRC055. 24LHRC055 will be extended with a diamond tail.

Regional Context

Llahuin is located 8km east of the El Espino project, which is in construction. This project is owned by Pucobre (a Santiago listed copper producer) and Resource Capital Funds as minority partner. Annual planned production of 26,000t Cu and 13,000oz Au per annum is from a ~5mtpa throughput plant. The CAPEX is approximately US$490m. (www.pucobre.cl)

Figure 7. Map showing the location of Llahuin and El Espino project locations.

Figure 8. 3D view looking northeast from Southern Porphyry (SP) to Central Porphyry, showing the scale of the Llahuin mineralising system with Ferro extension in yellow circle, and the newly identified East Porphyry zone in the green circle (colluvium covered up to 5m deep).

The Magneto-Telluric Deep Target Study

Magneto-telluric (MT) data acquisition at the site for refinement of deep large copper targets has been completed and the data is being processed and integrated with the Company’s existing MT data covering part of the Curiosity Target in the Southern Porphyry done some years ago.

The MT dataset will be integrated with and interrogated against the existing IP, aeromagnetic, and geochemical prospectivity mapping datasets. The aim is to identify new “blind” shallow targets under the colluvial cover sequence covering most of the area in Figure 8 above, and augment and refine the deeper targets beneath Cerro/Ferro and Curiosity.

Figure 9. MT data collection – green lines are the completed survey. Infill yellow lines recently determined not required.

Figure 10. MT equipment in operation at Llahuin

The deeper targets emerging beneath Curiosity and Cerro/Ferro compare with the geometry and development stage of the Filo Del Sol deposit (Filo Mining-Argentina) in 2018. After 2018, deeper drilling was completed at Filo Del Sol, transforming the project.

Figure 11. Long section through Central Porphyry to Ferro, showing the conceptual fathom geochemical models, and implicit geochemical models based on existing drilling. Note the similar geometries of the following examples from the Filo Del Sol deposit below. (Filo Mining – TSX Presentation dated 2/2/2022).

Figure 12. Filo Del Sol as at 2018, at a similar scale to Figure 1.

Figure 13. Update on Figure 2 as of 2021.

Figure 14. A similar long section to Figure 1, this time showing from Southern Porphyry (Curiosity Target at depth) to Cerro, showing similar spatial relationships.

⚒️ Diamond Drilling

Once all results are received and geological modelling is updated, diamond tails and deeper diamond holes will be commenced in order of priority value add.

Further results will be reported in due course.

The Full PDF is available below.

Prior company announcements results of which included herein:
ASX 15 January 2024 156m @ 0.51% CuEq
ASX 13 December 2024: Interim Drilling Results – Amended

COMPETENT PERSON / QUALIFIED PERSON STATEMENT:

The information in this report that relates to copper and gold exploration results for the Company’s Projects is based on information compiled by Mr Adam Anderson, who is a Member of The Australasian Institute of Mining and Metallurgy and The Australian Institute of Geoscientists. Mr Anderson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Anderson is a consultant for the Company.

News Release
Date: 28 January 2025 | ASX Code: SUH | Frankfurt Exchange: NK4

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Southern Hemisphere Mining Limited is an experienced minerals explorer in Chile, South America.

Chile is the world’s leading copper producing country and one of the most prospective regions of the world for major new copper discoveries. The Company’s projects include the Llahuin Porphyry Copper-Gold-Moly Project, the Lago Lithium Exploration Project, and the Los Pumas Manganese EV Battery Project, all of which were discovered by the Company.

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