Filo Mining Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) is pleased to announce assay results from hole FSDH073 at the Filo del Sol Project in San Juan, Argentina. Highlights and detailed results are shown below along with accompanying figures:
Commenting on the results, Jamie Beck, President, and CEO stated, “Hole 73 has successfully extended the Aurora Zone to the northeast of our previous drilling, along the main trend of the Zone, leaving it wide open towards the Bonita Zone which sits 1.5 kilometres to the northeast. It is now the most northerly hole drilled into the Aurora Zone and future drilling will seek to determine if the Aurora and Bonita Zones are connected. It is an excellent result; extending the Aurora Zone 160m is significant, and even small Aurora step-outs of long, high-grade drill intersections substantially increase the deposit’s potential size.”
|Hole ID||From||To||Length||Cu %||Au g/t||Ag g/t||CuEq %|
Mineralized zones within the Aurora Zone are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.
FSDH073 was collared 150m northeast of hole FSDH061 on section 9600N, and drilled towards the west at an angle of -70 degrees. It is entirely outside of and almost 300m north of the resource pit shell, and is the only hole drilled on this section.
The geology in this hole was very similar to other holes in this area and matched the geological interpretation very well. It intersected volcaniclastic and coherent rhyolite from surface to a depth of about 572m where the main mineralized breccia was intersected. The rhyolite sequence was well mineralized from a depth of about 400m with the grade increasing on approach to the breccia. The hole continued in breccia to its end.
Additional drilling to the north, east and west of FSDH073 is required to determine the full width of the zone on this section, along with the potential connection between the Aurora and Bonita Zones.
Drilling is ongoing with 9 rigs active on the project and will remain a mix of both large and small step-outs.
Holes that have been completed with assays pending include:
Assay results for completed holes will be released as they are received, analyzed, and confirmed by the Company.
Holes that are currently underway, or have been paused include:
The ninth rig is completing the last of a series of geotechnical holes to examine a potential future underground exploration adit.
About Filo del Sol
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.
Qualified Persons and Technical Notes
The scientific and technical disclosure for the Filo del Sol Project included in this news release have been reviewed and approved by 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. Samples were cut at Filo Mining’s operations base near the town of Guañizuil, Argentina 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, HQ and NQ depending on the depth of the drill hole. RC 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 bagged and tagged and packaged for shipment by truck to the ALS preparation laboratory in Mendoza, Argentina where they were crushed and a 500g split was pulverized to 85% passing 200 mesh. The prepared samples were sent to the ALS assay laboratories in either Lima, Peru or Santiago, Chile for copper, gold and silver assays, and 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, or bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.
|1Copper Equivalent (CuEq) for drill intersections is calculated based on US$ 3.00/lb Cu, US$ 1,500/oz Au and US$ 18/oz Ag, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 * Au g/t) + (0.0088 * Ag g/t).|
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 a member of the Lundin Group of Companies.
Base Map with Sat Image 2023 APR (CNW Group/Filo Mining Corp.)
Long Section with Plan_APR 2023 (CNW Group/Filo Mining Corp.)
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