-Anglo American commences its maiden RC drilling campaign at Chitigua Project located on the Western Fault in northern Chile.
-Six zones of interest defined by Anglo American, with an initial program of 3,000m of RC drilling planned at four zones: Iglesia, Central, Norte and Sur.
-This follows the completion of a six month long exploration program including a helimag survey, detailed geological mapping, geochemical surveys and geophysical surveys over 10 linear kilometres in three zones.
Southern Hemisphere Mining Limited (ASX: SUH, TSX-V: SH)("Southern Hemisphere" or the "Company") is pleased to advise that Anglo American, its joint venture partner at the Chitigua Porphyry Copper Project ("Project" or "Chitigua" ) in northern Chile, has commenced its first Reverse Circulation (RC) drilling program at the Project after completing its initial six month exploration program.
In February 2013, Southern Hemisphere signed a landmark farm-in option agreement with Anglo American, one of the world's largest mining companies. Under the deal, Anglo American has agreed to spend up to US$25 million to earn up to a 75% interest in three copper-gold exploration projects, including Chitigua, over a five year period.
Anglo American has committed expenditure of US$ 1.5 million, including at least 3,000m of drilling.
Work commenced on the Chitigua Project immediately after the agreement was completed, resulting in the definition of four drill targets.
Chitigua Porphyry Copper Project
The Chitigua Project is a porphyry copper target, located between the El Abra and Quebrada Blanca mines on the Western Fault, which is host to many very large porphyry copper deposits including La Escondida and Chuquicamata.
Figure 1 - Location of Chitigua on the Western Fault
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Anglo American has completed six months of exploration activity at Chitigua including a helimag survey, detailed geological mapping, geochemical surveys over the 172km2 concession area and MIMDAS geophysical surveys.
Six zones of interest have been defined and 3,000m of RC drilling is planned at four of these zones, namely Iglesia, Central, Norte and Sur.
Southern Hemisphere's Managing Director, Mr Trevor Tennant, said:
"Anglo American is an excellent partner for us at Chitigua and has made great progress since signing the joint venture agreement earlier this year. Anglo American's approach has been very thorough and professional, resulting in the definition of some very interesting drill targets.
"Drilling will continue across four zones over the coming months and we look forward to receiving the results. Chitigua would be a world-scale project if exploration proved to be successful and, because of its location and potential size, would require the financial and technical resources of a global mining group such as Anglo American to progress it. Of course, Southern Hemisphere shareholders will benefit by retaining significant exposure to a very large mineral asset in a global perspective. "
Figure 2 - Chitigua alteration zones
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For further information please contact:
Trevor Tennant - (Managing Director, Southern Hemisphere Mining) +56 (2) 474 5071
Media Enquiries - Nicholas Read (Read Corporate) +61 (8) 9388 1474
Media Enquiries - Clark Kent (Corporate Communications) +1 (416) 883 3838 ext 700
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this News Release. This News Release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
About Southern Hemisphere Mining Limited
Southern Hemisphere Mining Limited is listed on the Australian Stock Exchange (ASX Code "SUH") and the Toronto Stock Exchange - Venture (TSX-V Code "SH"). Southern Hemisphere has accumulated a diverse portfolio of assets in Chile, South America. The Company's focus is the 100% owned Llahuin Copper/Gold Project where the objective is to build a bulk tonnage Copper/Gold operation. The Company also holds the 100% owned Chitigua Project, a 172 km2 property located on the prestigious Western Fault which hosts Chile's largest copper porphyry deposits. Further details on Southern Hemisphere can be found at www.shmining.com.au
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