Filo Mining discovers new porphyry Cu-Au system from step-out drilling at Argentina project

Staff Writer | June 9, 2022 | 3:36 pm Exploration Latin America Copper Gold

Credit: Filo Mining Corp.

Ongoing drilling at Filo Mining’s (TSX: FIL) Filo del Sol project in San Juan, Argentina, has resulted in the discovery of a new porphyry copper-gold centre along the Filo trend, about 2 km northeast of the Breccia 41 zone.

Drill hole FSDH060 was drilled to a final depth of 1,070m and intersected 738m at 0.39% copper, 0.14 g/t gold and 1.4 g/t silver, from a depth of 332m. This hole is interpreted to have intersected a new porphyry centre, named the Bonita zone, along the Filo del Sol corridor, further confirming that the property hosts a multi-kilometre alignment of overlapping porphyry-centered hydrothermal systems.

“Hole 60 provides yet more evidence to support our interpretation that Filo del Sol is one of the most important copper-gold-silver discoveries in years. To step out this far, into a completely new area, and drill an intersection like this is an incredible result,” Jamie Beck, CEO of Filo Mining, said in a news release.

The company regards the Bonita zone as a “very high-priority drill target” that it plans to follow up on during the South American spring season.

Meanwhile, its winter drill program remains underway, designed to expand and infill the Aurora and Breccia 41 zones. The drilling will transition to larger step-out holes to continue to try to find the edges of the mineralized zone and to investigate the Bonita zone as spring arrives. Results are still pending for three holes (FSDH061, 63 and 66) from the current program.

The Filo del Sol project is located 140 km southeast of the city of Copiapó, Chile, comprising mineral titles that straddle the Argentina-Chile border. The property hosts a high-sulphidation epithermal copper-gold-silver deposit tassociated with one or more large porphyry copper-gold systems.

As 100% owner, Filo plans to develop the project into a conventional open-pit mine that is expected produce on average 67,000 tonnes of copper, 159,000 ounces of gold and 8.65 million ounces of silver per year over a 14-year project life.