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Freehill Mining discovers large magnetic anomaly in Yerbas Buenas’ north

Mining News - Published on Tue, 19 Feb 2019

Image Source: Small Caps
Small Caps reported that trial iron ore miner Freehill Mining has unlocked further potential at its flagship Yerbas Buenas project after a geophysical survey discovered a large magnetic anomaly in the project’s northern area. Ground magnetics were carried out in 2015 at the Chilean project, with these latest results not only validating the previous data, but offering much higher resolution. Mr Peter Hinner, Freehill chief executive officer, said that “Uncovering this magnetic anomaly is a great development and shows the project could also be very prospective for copper and gold on top the known magnetite deposits. Completion of the higher resolution magnetic survey provides a significantly increased confidence level in the predictive capability of our ground magnetics to identify magnetic structures and it is becoming clearer that Yerbas Buenas hosts high quality magnetite and a magnetite structure in excess of 2.3km in length.”

The high-resolution survey identified numerous moderate-to-strong anomalies extending from the project’s south to the north.

As a result of the higher resolution survey, Freehill said its technical team had been able to plan a much more targeted drilling campaign, which is scheduled to begin in the June quarter.

The new survey has also boosted confidence levels in the YB7 and YB3 structures and will enable Freehill to upgrade its conceptual exploration target.

It said that “We believe the revised tonnage would be potentially sufficient for 10-15 years of mining activities in those two structures alone.”

According to Freehill, Yerbas Buenas is close to several large magnetite deposits as well as copper and gold assets in the region.

Trial mining
The primary magnetic anomaly YB7 at Yerbas Buenas lies near the project’s trial mining pit where magnetite concentrate extracted in 2018 was sold to the Compania Minera del Pacifico Romeral pellet feed plant.

Freehill said this “demonstrates the high quality of pellet feed that can be derived from Yerbas Buenas magnetite concentrates.”

Meanwhile, a Davis Tube separator and XRF were used to analyse an ore sample delivered to the plant, with results generating 69.43% iron.

Source :

Posted By : Rabi Wangkhem on Tue, 19 Feb 2019
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