Filo Mining Corp. [FIL-TSX, NASDAQ; FLMMF-OTCQX] reported assay results from holes FSDH055C and FSDH059 from the continuing drill program at the 100%-owned Filo del Sol copper-gold-silver deposit located in Chile’s Region III and adjacent San Juan Province, Argentina. Hole FSDH055C is the best hole drilled on the project to date, measured by copper equivalent (CuEq) multiplied by intercept length, and ended in strong mineralization at almost 1,500 metres in depth.
FSDH055C returned 1,337.5 metres at 1.33% CuEq from 150 metres, including 126.0 metres at 5.02% CuEq from 728 metres in Breccia 41, including 24.0 metres at 13.30% CuEq from 728 metres within the same zone. The latter intersection included an 8.6 metres section at 20.25% CuEq.
The hole was stopped at a depth of 1,487.5 metres due to the capacity of the drill, and ended in strong porphyry-style mineralization with the last 21.5 metres of the hole at 0.93% CuEq (0.62% Cu, 0.41 g/t Au, 0.9 g/t Ag).
Jamie Beck, President and CEO stated, “From a grade-thickness perspective, hole 55C is the best hole ever drilled at Filo del Sol. It represents one of the thickest, highest-grade intervals drilled through the Aurora Zone, and confirms the continuity of the bonanza-grade Breccia 41 mineralization between holes 41 and 54 to the south, and hole 57 to the north. At almost 1.5km deep, and still strongly mineralized, hole 55C is a great reminder of not only the size and scale of the system, but also how much more there is to discover at Filo.”
Drilling is ongoing with 7 diamond drill rigs, in addition to a reverse circulation (RC) rig, and eight holes are currently underway. Holes are designed to explore the area around the high-grade intersections in FSDH041, FSDH054, FSDH057 and now FSDH055C, along with some moderate step-outs to test continuity of the Aurora Zone, and larger step-out holes to continue to try to find the edges of the mineralized zone.
One hole, FSDH060, located 2 km northeast of FSDH041, has been completed to a final depth of 1,070 metres and assays are pending. Results for these holes will be released once the holes are completed, and results are analyzed and confirmed by the company.
Filo del Sol is a high-sulphidation epithermal copper-gold-silver deposit associated with one or more large porphyry copper-gold systems. Overlapping mineralizing events combined with weathering effects, including supergene enrichment, have created several different styles of mineralization, including structurally controlled and breccia-hosted gold, manto-style high-grade silver (+/- copper) and high-grade supergene enriched copper within a broader envelope of disseminated, stockwork and breccia-hosted sulphide copper and gold mineralization. This complex geological history has created a heterogeneous orebody which is characterized by zones of very high-grade copper +/- gold +/- silver mineralization within a large envelope of more homogeneous, lower-grade mineralization.
Mineralized zones within the Filo del Sol deposit are typically flat-lying, or bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths. Additional drilling is required to estimate the true width of the bonanza grade mineralization within Breccia 41.
Filo Mining is a member of the Lundin Group of companies.