Another hole, FSDH051, has extended the mineralized zone by 750m to the north, bringing the total north-south extent of continuous mineralization to 4,500m. This is the most northerly hole completed into the deposit to date, returning 344m at 0.50% CuEq (0.26% Cu, 0.21g/t Au, 9.4g/t Ag) from 246m.
This drill hole also includes a 36m intersection of elevated silver (50.5 g/t Ag) that lies along the projection of the main Filo silver zone and may represent its extension. If additional drilling is able to establish continuity, this would increase the length of the silver zone by 1km to a minimum north-south extent of 3km, the Filo team said.
Drill hole FSDH049 is within the current mineral resource, while FSDH051 is 1,700m north of the northern resource boundary. Both were collared prior to drilling the high-grade zone intersected in hole FSDH041 reported back in May.
“Filo del Sol is growing into one of the largest copper-gold-silver discoveries ever,” Filo director Lukas Lundin commented on the company’s latest field campaign.
The deposit is estimated to contain 3.1 billion lb copper, 4.4 million oz gold and 146.9 million oz silver in the indicated resource category, plus 1.1 billion lb copper, 1.8 million oz gold and 34.8 million oz silver inferred.
“With Hole 51, we extended the deposit 750m to the north, outlining a 4.5km north-south strike of continuous mineralization,” Jamie Beck, president and CEO, stated in a news release.
“Hole 49 is an excellent reminder of the precious metals-rich nature of the deposit. Starting with 30m of oxide gold from surface, Hole 49 then returned a substantial copper-gold-silver intercept which included the highest-grade silver intercept on the project to date.”
He added that his company remains on track to resume drilling later this month as it prepares for year-round field operations.
Shares of Filo Mining jumped 4.6% by noon ET Wednesday following the drill results release. The Canadian miner has a market capitalization of C$1.1 billion.
