Tuesday, 28 February 2017 Update on Operations
Highlights
Ground Magnetic Surveys are expected to be completed in March, paving the way for the Initial Drilling Program.
Magnetite occurrence identified, trial production commenced and concentrate material supplied to potential customer for evaluation.
The Company is pleased to report on recent and planned activity at the 100% owned Yerbas Buenas (YB) Project in Chile.
Geophysical studies have been progressing at the YB Project site, with completion of a Ground Magnetic Survey expected in March. This will pave the way for the commencement of the mineral sands Initial Drilling Program.
The Company has progressed with trial production of pre-concentrate from a hard rock magnetite occurrence identified at surface.
Over the past few weeks, the Company has engaged a contract blasting operator and contract crushing operator with mobile plant to commence trial production of magnetite ore from this occurrence.
The Company’s customer, Compañía Minera del Pacífico S.A. (a subsidiary of CAP S.A.), has been provided with sample production material for evaluation.
FHS Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)