Filo Mining Corp. (TSX-V:FIL) (Nasdaq First North Growth Market: FIL) is pleased to announce initial assay results from the 2019/2020 drill program at its 100% owned Filo del Sol project located on the border of Region III, Chile and San Juan Province, Argentina. Drilling was initiated in November, and four diamond drill holes were in progress at the December break. Assay results have been received for the completed portions of two of these holes, FSDH032 and FSDH033. Drill crews have been remobilized to the project following the break, and all four holes will continue to progress in January. A reverse circulation drill has also been added to the program in order to begin testing a newly-identified southwesterly extension to the hydrothermal alteration associated with the Filo del Sol deposit. View PDF.
Commenting on the results, CEO Adam Lundin stated, “The drill holes announced today extend high-grade copper gold mineralization intersected in holes drilled last year. Hole FSDH032 is a very important hole that extends the current resource by 150m at depth and leaves it open to the northeast. The next few holes will tell us what lies below the large oxide resource in an area where previous holes ended in strong copper-gold mineralization. These early results set us up for an exciting remainder of the season.”
Results from the latest two holes are presented below:
|Hole-ID||From (m)||To (m)||Length (m)||Cu %||Au g/t||Ag g/t|
|* Current end of hole – holes will continue to progress in January|
Hole FSDH032 was collared on section 9000N at an angle of -70 degrees towards the west and is planned to be drilled to a final depth of 1,000 metres. The hole was completed to a depth of 550 metres prior to the break, and assays to that depth indicate the bottom of the hole to be in strong copper-gold mineralization. Mineralization in this hole, below a depth of 400 metres, is outside of the current mineral resource. Mineralization is open to the northeast beyond FSDH032.
Hole FSDH033 was collared 200 metres to the south of FSDH032, on section 8800N, and drilled to the west at an angle of -70 degrees. The hole is planned to a depth of 1,000 metres and was drilled to 245 metres before the break. This hole is 72 metres to the east of, and parallel to, hole FSDH030 which was drilled during the 2018/2019 season. FSDH030 was abandoned short of its target depth, ending in strong copper-gold mineralization at 512 metres (see Filo News Release dated May 28, 2019). Hole FSDH033 is planned to test the area below the strong mineralization in FSDH030. The mineralized intervals shown above are within the current mineral resource.
Complete assays for these and the other holes will be released once all data has been received and verified.
QUALIFIED PERSONS AND TECHNICAL NOTES
The field program is being 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. Samples were cut at Filo Mining’s Batidero camp near the project site by Company personnel. Diamond drill core was sampled in 2 metre intervals (except where shortened by geological contacts) using a rock saw for sulphide mineralization. Oxide mineralization was cut with a core splitter in order to prevent dissolution of water soluble copper minerals during the wet sawing process. Core diameter is a mix of PQ and HQ depending on the depth of the drill hole. Samples were bagged and tagged at camp, and packaged for shipment by truck to Copiapo, Chile. Samples were delivered to the ALS preparation laboratory in Copiapo where they were crushed and a 500g split was pulverized to 85% passing 200 mesh. The prepared samples were sent to the ALS assay laboratory in Santiago, Chile for copper, gold and silver assays, with a second split sent to the ALS laboratory in Lima, Peru for multi-element ICP and sequential copper analyses. ALS is an accredited laboratory which is independent of the Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample. Copper and silver were assayed 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 with copper greater than 500ppm (0.05%). 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. No data quality problems were indicated by the QA/QC program.
Mineralized zones within the Filo del Sol deposit are typically flat-lying, and drilled widths are interpreted to be greater than 90% of true widths.
ABOUT FILO MINING
Filo Mining is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in Chile’s Region III and adjacent San Juan Province, Argentina. Filo Mining is listed on the TSX Venture Exchange and Nasdaq First North Growth Market
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