Freehill Mining Limited (ASX: FHS) has announced significant progress in the development of its Blanco y Negro Copper-Gold Project in Chile. Freehill Mining Limited (ASX: FHS) is an Australian-based company focused on mineral exploration and development, complemented by a cash-generating aggregates business in Chile. The company confirmed the successful securing and thorough geological review of the Blanco y Negro Mineral Resource Estimate (MRE) data, a material milestone that de-risks the project and fast-tracks technical execution. The project, situated on 128 hectares of granted mining leases, hosts a JORC Code 2012 MRE of approximately 1.5 million tonnes at 1.4% copper and 0.5 g/t gold, containing 20,000 tonnes of copper and 24,000 ounces of gold.
The MRE block model provides a high-resolution, auditable dataset, crucial for rapid mine planning and accurate resource validation. Freehill’s consulting geologist meticulously reviewed this vital three-dimensional dataset, detailing copper grades, rock types, and physical properties across the deposit. This comprehensive technical review forms the foundation for all subsequent mine development work. The project’s close proximity (approximately 30 km) to ENAMI’s SX-EW plant offers a potential low-capital expenditure, fast-start toll-treatment option, with Chile’s simpler permitting pathway for medium-scale operations further positioning Freehill favourably.
Managing Director Paul Davies highlighted the project’s ideal positioning for rapid advancement, focusing on underground mine planning and securing low-capex processing options utilising third-party infrastructure. Freehill’s growing aggregates business provides access to qualified local teams, supporting mine planning, permitting, and processing decisions, thereby reducing execution risk and cost. Non-Executive Chairman Ben Jarvis underscored Blanco y Negro’s potential as a valuable near-term development opportunity, expressing confidence in the team’s ability to deliver, particularly amidst a strengthening copper price environment. The company is nearing the appointment of a Chilean-based mining engineer with underground expertise.
