⚒️ Southern Hemisphere Mining Limited reports its Quarterly Activity for the period ended 30 September 2024.
- Drilling at the flagship Llahuin Copper-Gold-Moly Project continues.
- A pulp compositing campaign utilising pXRF assays to highlight significant zones of Molybdenum (Mo or Moly) in historic drilling where Mo was not previously assayed was conducted. Better intercepts included:
- 150m at 375ppm Mo from 20m in drillhole RDLLA014 including 20m at 2,080ppm Mo from 80m
- 20m at 756ppm Mo from 110m in drillhole DDLLA018
- 70m at 256ppm Mo from 80m in drillhole RCLLA117
- Significant new results from grid rock chip sampling included:
- 7.38g/t Au and 8.13g/t Ag in 24LHR000602
- 0.59gt Au and 1.44g/t Ag in 24LHR000596
- 0.22% Cu in 24LHR000574
- 156 new rock chips collected, and 73 historical drillhole pulp samples were selected for assay by four acid digest and ICPMS for multi-element with low-level detection to refine 3D Modelling refining Curiosity and Cerro-Ferro Deeps drill targets.
- Hyland Geological and Mining Consultants have been engaged to commence a Mineral Resource Estimate upgrade for H1 2025 incorporating all drilling and results since the last JORC Resource in 2013 and to include results from the current drilling program.
Figure 1: Location map of Southern Hemisphere’s projects in South America.
Llahuin Copper-Gold-Moly Porphyry Project 100%
During the quarter under review, the Company continued and reported significant work-fronts to advance the Llahuin Copper-Gold-Moly Porphyry Project towards mining study stage. The reported work is part of the process to substantially increase the copper and gold endowment of the Llahuin Project from the current Independent Resource Estimate of 680,000t copper equivalent (measured indicated and inferred categories done in 2013), by incorporating all drilling and re-interpretation, re-logging, etc done since then, and include all results from the drilling in progress.
Figure 2. 3D plan view showing geochemical footprint models thematically colour scaled from blue (moderate probability) through to reds and magentas (high probability).
RC and Diamond Drilling Program
The drilling program is designed to delineate the deeper core of the large Cerro-Ferro porphyry deposits (+2km strike) to increase tonnes at higher grades to add to the copper endowment towards establishing economic parameters for mining studies.
The RC drilling program will initially focus on the near surface Cu-Au mineralisation intersected in 23LHRC042 (48m at 0.48% CuEq from surface) drilled last year.
This is a new zone south of Ferro which was part of the southern soil anomaly and had not been previously drilled. It therefore is a good opportunity to add near surface higher grade tonnes to the current resource.
Rock chip and drillhole pulp data
The Company is working with Fathom Geophysics for 3D porphyry footprint modelling method on recently collected rock chip and drillhole pulp data at the Llahuin Project. This method uses eleven elements (As (arsenic), Bi (bismuth), Cu (copper), Li (lithium), Mo (molybdenum), Sb (antimony), Se (selenium), Sn (tin), Te (tellurium), Tl (thallium), and W (tungsten), to map idealised deposit model zonation and thresholds based on the Halley et al., (2015) geochemical model. Deliverables from this work are a set of wireframe shells representing probabilities of the presence of a porphyry system at a given point in 3D space.
A pulp compositing campaign carried out during the quarter highlighted significant zones of Moly in historic drilling that were not previously assayed. The Moly price is currently ~$21/lb vs copper at ~$4.20/lb so Moly is significant in the context of the copper equivalent grade, and these results and others in progress will be included in the upgraded JORC resource for H1 2025.
A total of 1,047 ten metre pulp composites covering 10,470m drilling were sent for multi-element assay. All results received demonstrated a significant zone of Moly at the Central Porphyry in a ring like zone around the edge of the main porphyry.
Los Pumas Battery Metals Manganese Project 100%
The Los Pumas Project is an advanced manganese deposit for which Southern Hemisphere is seeking offtake/JV funding/sale for a long life mine to produce:
- Agriculture products for soil improvement;
- Electrolytic Manganese for steel making; and/or
- High-Purity Manganese Sulphate Monohydrate (“HPMSM”) to supply the Electric Vehicle (“EV”) and energy storage markets.
Southern Hemisphere is actively marketing this project, and welcome any inquires to cosec@shmining.com.au
Lago Lithium Brine Project 100%
The Company’s main focus has been the expansion drilling at Llahuin, therefore no exploration activities took place during the quarter under review on the strategically obtained Lago Lithium Brine Project, located in the renowned lithium-rich Atacama region of Chile and covering an area of approximately 27km2.
The Salar de Atacama is widely recognised for its exceptional lithium deposits operated by the world’s largest lithium brine producers, SQM and Albemarle.
Southern Hemisphere is actively marketing this project, and welcome any inquires to cosec@shmining.com.au
Figure 3: Location of the nine new lithium brine concessions
CORPORATE ACTIVITIES
The Directors have taken the opportunity to accumulate and increase their shareholdings, purchases during the quarter totalled approximately $93k.
The Company’s VAT tax consultant in Chile has filed a VAT refund. Accumulated VAT returns are indicatively A$3.5m and subject to review and approval of government taxation authorities.
Payments to related parties during the quarter totalled $202,248 which included directors’ fees, consulting fees, equipment hire, office lease expenses and superannuation.
Approved by the Board of Directors
References:
LLAHUIN COPPER-GOLD PROJECT
ASX Release – Llahuin Copper-Gold Project, Chile – Update – 18 July 2024.
ASX Release – Llahuin Copper-Gold-Moly Project, Chile – Update – 27 August 2024.
ASX Release – Drilling to Commence at Llahuin Copper-Gold Project, Chile – 19 September 2024.
LOS PUMAS BATTERY METALS MANGANESE PROJECT
ASX Release – Company Presentation – Los Pumas Manganese Project, Chile – 20 May 2024.
ASX Release – Intension to Demerge Battery Minerals Asset – 5 July 2023.
LAGO LITHIUM BRINE PROJECT
ASX Release – Application for the Lago Lithium Brine Concessions in Chile – 10 July 2023.
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 and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
News Release
Date: 23 October 2024 | 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.
For the latest information about the Company – please visit our Latest News and Corporate Profile pages. We are also on LinkedIn and Twitter (X).
