What is the core reason behind the new agreement?

Freehill Mining (ASX:FHS) executed a non-binding memorandum of understanding with Austral Gold (ASX:AGD) to cooperate on identifying, evaluating, and developing mining projects in Chile.

What are the operational responsibilities of each company?

Austral Gold (ASX:AGD) will provide technical, operational, and regulatory services to accelerate evaluation and potential development pathways across the project pipeline of Freehill Mining (ASX:FHS).

What commercial and financial terms are outlined in the arrangement?

Freehill Mining (ASX:FHS) will provide potential payments in shares to Austral Gold (ASX:AGD) in exchange for services and participation rights in respect of projects where services are provided.

What is the geographic scale and size of the targeted assets?

The transaction involves a combined footprint of more than 5,200 hectares across two specific exploration projects in Chile. This footprint includes the approximately 5,100-hectare Joshua project and the 128-hectare Blanco y Negro project.

What mineral resource estimates have been identified at the projects?

The Blanco y Negro project held by Freehill Mining (ASX:FHS) contains a mineral resource estimate of 1.5 million tonnes at approximately 1.4% copper and 0.5 grams per tonne gold. This resource estimate equates to 20,000 tonnes of contained copper and 24,000 ounces of gold.

Image for illustrative purposes only. Not a real photo.

Freehill Mining signs Chile copper deal with Austral Gold

Written by Mahathir BayenaPublished Jul 9, 2026, 1:00 AM

Freehill Mining has executed a non-binding memorandum of understanding with Austral Gold to advance copper-gold exploration projects in Chile.
Following the announcement, the Freehill Mining share price remained unchanged at $0.002.
The company stated that the transaction is expected to accelerate its strategic expansion into the copper sector.

Freehill Mining (ASX:FHS) has executed a non-binding agreement with Austral Gold (ASX:AGD) to advance copper-gold assets in Chile.

The transaction targets two specific exploration projects spanning a combined footprint of more than 5,200 hectares.

Austral Gold will provide technical and operational services to accelerate evaluation pathways across Freehill Mining's project pipeline.

The projects include the Joshua porphyry target and the Blanco y Negro site containing a 1.5 million tonne resource estimate.

Following the announcement, the Freehill Mining share price was unchanged at $0.002.

The company stated that the collaboration is expected to fast-track its strategic entry into global copper markets.

The agreement excludes and does not affect the existing aggregates processing business operated by Freehill Mining.

Freehill Mining signs Chile copper deal with Austral Gold

Frequently asked questions

Assets related to this article