Drilling Aiming To Expand South American Copper-Gold Project
Filo Mining Corp. (TSXV:FIL) is pleased to provide an update on progress of the current season’s drill programme at the Filo del Sol copper-gold project on the Chile/Argentina border.
President and CEO, Jamie Beck, said four diamond drill rigs are now drilling at Filo, with a fifth to be added before the end of January. Drills are currently focused on the large prospective area to the north of the Filo deposit and are targeting both extensions to the resource and areas of high potential for the discovery of new mineralisation.
“We are now full steam ahead with the 2020/2021 drill campaign and are pleased to announce the addition of a fifth rig to accelerate the drill programme,” Mr Beck said.
“We are beginning with extensive drill testing north of the currently defined deposit, with hole depths targeting at least one kilometre, which would match the deepest holes ever drilled at Filo del Sol.
“Filo is one of the few, advanced, large-scale development opportunities set to fill an anticipated supply deficit in copper. In January 2019, we completed a pre-feasibility study on the uppermost oxide portion of the deposit, demonstrating the project’s robust economic potential.
“With the backdrop of rising metals prices and an already compelling production case, it will be an exciting season as Filo continues to learn more about the ultimate size of the underlying sulphide mineralisation.”
Drilling during the 2019/2020 season demonstrated that the deposit continues strongly to depth, with intersections greater than one km, and the bottom of the deposit’s mineralisation has not yet been reached.
The 2020/2021 programme is designed to explore for extensions to this deep mineralization to the north, where it remains completely wide open beyond FSDH032.
Surface data (geological mapping, alteration sampling, and geochemical sampling) as well as geophysics indicate that the same geological environment that hosts the Filo del Sol deposit continues for at least two kilometres to the north of this hole, and drilling is planned to explore this area to a depth of at least 1,000 metres.