The Prospector News

Filo Mining drills 68 metres of 0.74% copper, 1.34 g/t gold, 100.1 g/t silver and 64 metres of 1.10% copper, 0.69 g/t gold at Filo del Sol

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Filo Mining drills 68 metres of 0.74% copper, 1.34 g/t gold, 100.1 g/t silver and 64 metres of 1.10% copper, 0.69 g/t gold at Filo del Sol






Filo Mining Corp (TSX-V:FIL) (Nasdaq First North: FIL) is pleased to announce continued excellent results from the recently completed 2017/18 drill program at the Filo del Sol project in San Juan Province, Argentina and Region III, Chile.  A total of 9,411 metres was drilled during the program, which was completed at the end of March, 2018.  In total, 31 reverse circulation holes and 9 diamond drill (DD) holes were completed during the program.  Assay results for 11 RC holes are presented here, and results from the remaining 9 DD holes will be released once the final assays have been received. 



Highlights of Field Program:


  • Infill drilling is expected to convert a portion of the inferred oxide mineral resource to indicated
  • Step out drilling has extended mineralization beyond the current resource limits
  • Over 4.5 tonnes of material was collected for metallurgical, geotechnical and environmental testing
  • Geotechnical drilling has been completed



A full table of the drill hole intersections, collar information and a plan map showing the locations of the drill holes are included within this release.



Highlights from this second batch of drill holes include:


  • VRC156: 124m @ 0.69% Cu, 0.30 g/t Au, 18.2 g/t Ag
  • VRC158: 10m @ 0.40% Cu, 3.14 g/t Au, 5.5 g/t Ag
  • VRC161: 118m @ 0.42% Cu, 0.80 g/t Au, 59.4 g/t Ag
  • VRC163: 180m @ 0.54% Cu, 0.40 g/t Au, 3.0 g/t Ag
    • Including 64m @ 1.10% Cu, 0.69 g/t Au, 1.8 g/t Ag
  • VRC164:   126m @ 0.65% Cu, 0.82 g/t Au, 54.6 g/t Ag
    • Including 68m @ 0.74% Cu, 1.34 g/t Au, 100.1 g/t Ag



Commenting on today’s results, Adam Lundin, CEO of Filo Mining stated, “The drill results from our 2017/18 field program continue to impress.  The results released today, along with those we released on April 27 of this year, not only suggest that there is strong support to convert part of the inferred oxide mineral resource to the indicated category, they also support that testing for resource extension beyond the 2017 mineral resource limit at the Filo Del Sol Project is warranted. The results of the 2017/18 drilling will be incorporated into an updated mineral resource estimate to support the Pre-Feasibility Study (“PFS”) which is currently underway.” 



Filo del Sol is a large high-sulphidation epithermal copper-gold-silver deposit.  The upper portion of the deposit is oxidized and includes from top to bottom, a gold oxide zone, a copper-gold oxide zone and a silver-rich zone.  The oxide portion of the deposit is underlain by copper-gold sulphide mineralization.  The drill holes reported here tested all of the oxide zones.  The northern section of the deposit which contains ~90% of the current resource is referred to as the Filo Zone; the southern section is referred to as the Tamberias Zone.



One of the main goals of the 2017/18 drill program was to convert a part of the inferred oxide mineral resource to the indicated category and most of the holes in this release were drilled for that purpose.  The results suggest that we are well on our way to achieving this objective.  The mineral resource remains open laterally and to depth, and several other holes were drilled adjacent to the inferred mineral resource in order to test for resource extensions.  The holes in this release span a distance of 2.2 kilometres from VRC165 in the south to VRC164 in the north.



Nine of the holes announced today were drilled into the Filo zone of the deposit and are expected to either convert existing inferred material to indicated or add to the mineral resource.



The Filo gold oxide zone was intersected by the upper part of VRC164 (20m @ 0.95 g/t gold) in an area classified as inferred mineral resource.



All of the Filo holes intersected the copper-gold oxide zone, in areas that are either within the inferred mineral resource or adjacent to it, with grades that are generally consistent with those predicted by the mineral resource block model.     



Three of the holes intersected the silver zone, including a broad zone of near-surface mineralization starting at 12 metres down the hole in VRC161 (80m @ 101.7 g/t silver).   These silver zone intersections are all within the inferred mineral resource.     



Two of the holes presented here were drilled into the Tamberias zone.  VRC162 extends the gold oxide zone approximately 20 metres beyond the 2017 mineral resource limit and VRC165 intersected the copper-gold oxide zone in an area of inferred mineral resource. 



The results of the 2017/18 drilling will be incorporated into an updated mineral resource estimate to support the Pre-Feasibility Study (“PFS”) which is currently underway.  The PFS follows the completion of a Preliminary Economic Assessment (“PEA”) of the project, the results of which were released by the Company on November 28, 2017.  The PEA incorporated open-pit mining and heap leach processing of only the oxide portions of the deposit. The results of the PEA demonstrate a robust project with strong economics, highlighted by an estimated after-tax NPV of US$ 705 million using a discount rate of 8% and an IRR of 23%, with an average estimated annual life of mine production of approximately 50,000 tonnes of copper, 115,000 ounces of gold, and over 5 million ounces of silver. 



Diamond drill holes completed during the 2017/2018 program will contribute data for the mineral resource update and will also provide samples for metallurgical testwork forming an important part of the PFS.  Metallurgical sample material was also collected from surface trenches during the field program.  The PFS metallurgical testwork program is being carried out at SGS Minerals lab in Lakefield, Ontario and commenced in early April, 2018.  Ongoing environmental and social programs continue in support of the PFS and to lay the groundwork for future environmental assessments and project permitting.  




To (m) Length
Cu % Au g/t Ag g/t Zone Purpose
VRC154 94 176 82 0.29 0.25 3.2 Filo Resource Addition
incl 168 176 8 0.63 0.61 4.3
VRC156 110 234 124 0.69 0.30 18.2 Filo Resource Conversion
incl 152 170 18 0.95 0.52 0.9
and incl 204 234 30 1.00 0.32 60.1
VRC157 48 128 80 0.38 0.39 2.4 Filo Resource Conversion
VRC158 16 100 84 0.38 0.63 2.3 Filo Resource Addition
incl 16 26 10 0.40 3.14 5.5
and incl 50 58 8 1.18 0.44 1.6
VRC159 12 100 88 0.42 0.27 1.0 Filo Resource Conversion
VRC160 112 230 118 0.33 0.40 2.1 Filo Resource Conversion
incl 114 148 34 0.46 0.83 2.4
VRC161 12 130 118 0.42 0.80 59.4 Filo Resource Addition
incl 30 38 8 1.42 0.84 140.8
and incl 46 66 20 0.48 0.49 175.2
and incl 76 80 4 0.33 10.06 171.5
VRC162 0 140 140 0.02 0.29 5.1 Tamb Resource Addition
incl 2 14 12 0.05 0.57 11.8
and incl 50 66 16 0.02 0.53 5.6
VRC163 70 250 180 0.54 0.40 3.0 Filo Resource Conversion
incl 70 134 64 1.10 0.69 1.8
incl 70 72 2 1.27 13.65 2.0
VRC164 24 44 20 0.04 0.95 0.7 Filo Resource Conversion
plus 92 132 40 0.24 0.41 5.4
plus 190 316 126 0.65 0.82 54.6
incl 248 316 68 0.74 1.34 100.1
or incl 250 270 20 1.27 3.22 22.3
or incl 250 254 4 3.58 9.27 10.5
or incl 272 306 34 0.51 0.61 171.4
VRC165 0 56 56 0.27 0.35 4.6 Tamb Resource Conversion
incl 4 14 10 0.65 0.22 0.6
and incl 30 46 16 0.11 0.51 7.8





Mineralized zones within the Filo del Sol deposit are flat-lying, and drilled widths are interpreted to be greater than 95% of true widths.



The field program was carried out under the supervision of Bob Carmichael, B.A.Sc., P.Eng., who is the Qualified Person as defined by NI 43-101.  Mr. Carmichael is Vice President, Exploration for the Company and has reviewed and approved the technical information contained in this news release.



The Quality Control/Quality Assurance program for the Filo del Sol Project is under the management of Diego Charchaflie MSc., P.Geo (BC), a Qualified Person pursuant to NI 43-101.



Samples were collected at the drill site by Company personnel with splitting carried out at the Company’s field camp near the drill sites.  Individual samples represent final splits from 2 metre intervals down the hole.  Samples were delivered to the ALS preparation laboratory in Copiapo, Chile where samples were crushed and split and a 500g split was pulverized to 85% passing 200 mesh.  The prepared samples were sent to the ALS assay laboratory in Lima, Peru.  ALS is an accredited laboratory which is independent of the Company.  Gold analyses were by fire assay fusion with AAS finish on a 30g sample.  Copper and silver were analysed by atomic absorption following a 4 acid digestion.  Samples were also analyzed for a suite of 36 elements with ICP-ES and a sequential copper leach analysis was completed on each sample.  Copper and gold standards as well as blanks and duplicates (field, preparation and analysis) were randomly inserted into the sampling sequence for Quality Control.  On average, 9% of the submitted samples are Quality Control samples.



About Filo Mining Corp.



Filo Mining’s flagship project is its 100% controlled Filo del Sol Project located on the border between San Juan Province, Argentina and Region III, Chile. Filo del Sol is located between the prolific Maricunga and El Indio Gold Belts, two major mineralized trends that contain such deposits as Caspiche, La Coipa, Veladero, and El Indio. The region is mining-friendly and hosts a number of large scale mining operations.  The project area is covered under the Mining Integration and Complementation Treaty between Chile and Argentina, which provides the framework for the development of cross border mining projects.



HOLE-ID East North Elevation Length (m) Azimuth Dip
VRC154 435266 6848401 5136 230 80 -70
VRC156 435173 6848294 5161 245 79 -70
VRC157 435367 6848605 5097 150 267 -83
VRC158 435038 6847702 5105 100 220 -90
VRC159 435032 6847599 5106 100 22 -90
VRC160 435173 6848294 5161 132 90 -87
VRC161 435002 6847790 5115 132 92 -62
VRC162 434622 6846862 5120 140 53 -70
VRC163 435134 6848201 5134 252 20 -75
VRC164 435204 6848804 5185 316 90 -88
VRC165 434713 6846642 5197 100 60 -70


Posted May 18, 2018

Share this news article


Equity Reports Additional High-Grade Mineralization at the Camp and Sveinson Targets, Silver Queen Project, BC; Drilling Resumes

Equity Metals Corporation (TSX-V: EQTY) reports thick intercepts ... READ MORE

May 18, 2022

Freegold Intersects 2.49 g/t Au over 167.7m and 0.94g/t Au over 617 m at Golden Summit

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) is pleased to... READ MORE

May 18, 2022

Sitka Intercepts 107.5 Metres of 1.44 g/t Gold From Surface Including 2.0 Metres of 35.60 g/t Gold at its RC Gold Project in Yukon

Sitka Gold Corp. (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased... READ MORE

May 18, 2022

Appia Announces Operational And Drilling Update With New Intersections Of 50+ Metres Of Anomalous Radioactivity At Alces Lake Rare Earth Property, Northern Saskatchewan

Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQB:APAAF) (Ge... READ MORE

May 18, 2022


Starr Peak Mining Ltd.  (TSX-V: STE) (OTCQX: STRPF) is pleased ... READ MORE

May 18, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News