Southern Hemisphere Mining (ASX: SUH) non-executive director Andrés Hevia Hormázabal has bought 50,000 shares in the company for a consideration of A$10,910, providing an average entry price of about $0.22.
The company is working towards a maiden JORC Resource at its Llahuin Copper Project in Chile which is on track to be delivered by the end of the current March quarter.
Earlier this month, Southern Hemisphere Mining returned broad intersections of 66 metres at 0.45% copper equivalent from 126 metres, 102 metres at 0.46% from 96 metres and 74 metres at 0.45% from surface from drilling on the project.
The company currently has three diamond drill rigs and one reverse circulation drill rig operating at Llahuin, with a total of 12,336 metres of reverse circulation and 4,024 metres of diamond drilling completed so far.
Indicating the potential of the project, continuous mineralisation was previously intersected at depth in the first diamond drill hole, which returned an impressive 496 metres at 0.4% copper from surface including 126 metres at 0.6% copper from 210 metres.