Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Filo Mining’s (TSX: FILO) ongoing drilling program at its Filo del Sol copper project in Argentina has extended the strike length of the emerging Aurora zone to 1.6 kilometres.
The Vancouver-based company, part of the Lundin Group, has released the results from two more holes which extend the zone by 180 metres.
Hole FSDH061 intersected 701.2 metres of 1.13% copper equivalent (0.81% copper, 0.33 gram gold per tonne and 9.1 grams silver per tonne), including 406 metres grading 1.36% copper equivalent (0.97% copper, 0.4 gram gold and 11.1 grams silver) from 508 metres.
The company said in a news release that a technical issue cut the hole to a depth of only 1,093 metres, with the last 21 metres returning 1.03% copper equivalent within a veined and potassically altered porphyry.
Hole FSDH063 returned 844.2 metres of 0.53% copper equivalent (0.29% copper, 0.25 gram gold and 6.5 grams silver), including an interval of 142 metres grading 0.71% copper equivalent (0.36% copper, 0.26 gram gold and 18.1 grams silver). Mineralization is believed to be continuous between the holes reported, with the Aurora zone remaining open to the north and south.
“As we ramp up drilling into the South American spring and summer, we will continue a combination of larger step-out holes to try to find the edges of the mineralized system, along with step-out and infill holes to try to define the size of this remarkable Aurora Zone fully,” said CEO Jamie Beck.
The company also reported it was forced to halt drilling for a period due to the harsh winter experienced in the Andes, with heavy snowfalls and strong winds impacting operations since June. Drilling is ramping up with six rigs operating and two additional rigs expected to be added in September.
Drilling targets a combination of large step-out holes focusing on the system edges and step-out and infill holes on the Aurora Zone.
