Freehill’s El Dorado Exploration Shows Promise but Drilling Remains Pending

Exploration Highlights at El Dorado

Freehill Mining Limited has revealed encouraging assay results from its ongoing exploration at the 100%-owned El Dorado copper-gold project in Chile. Recent rock chip sampling in the northern part of the tenement returned copper grades as high as 4.0% and gold grades up to 1.71 grams per tonne. These results reinforce the potential of El Dorado, an IOCG-style mineralised system, to host economically interesting mineralisation.

The samples confirm new zones of interest beyond the previously identified 'Target A' area, which had already delivered impressive gold grades including 13.52 g/t and 9.3 g/t from 1-metre samples. The current findings add to this foundation, suggesting multiple mineralised veins with copper and gold concentrations that warrant further investigation.

Exploration Strategy and Next Steps

While no drilling has yet been undertaken, Freehill is pursuing a low-cost exploration approach focused on detailed surface sampling and trenching to better define mineralised zones. The company aims to identify small-scale mining opportunities or vector towards deeper mineralised bodies that could be targeted in future drilling campaigns. Positive copper leachability tests, reaching up to 88%, add a promising metallurgical dimension to the exploration story.

Chairman Ben Jarvis emphasised the upside potential of the 730-hectare El Dorado project, noting that ongoing exploration continues to deliver solid results. The company plans to maintain its focus on surface work until sufficient data justifies more extensive drilling.

Operational Progress Beyond Exploration

Alongside exploration, Freehill is advancing its aggregates business, with commissioning underway at its second site. The larger plant is in the start-up phase, with material testing progressing to meet customer specifications. Deliveries are expected to commence imminently, marking a new revenue stream for the company. This operational progress complements the exploration activities and supports Freehill’s broader growth strategy.

Overall, Freehill Mining is balancing exploration upside at El Dorado with near-term cash flow generation from its aggregates operations, positioning the company for multiple avenues of value creation.