Filo Mining Reports 1,356m at 1.09% CuEq, including 424m at 1.54% CuEq
- Drillhole FSDH062 intersected 1,313.2m at 0.65% CuEq from a depth of 134m, including;
- 520.4m at 0.82% CuEq from 400m
- The hole ended in strong mineralization at a depth of 1,447.2m due to rig capacity, with the final 19.2m averaging 0.64% CuEq (0.47% Cu, 0.15 g/t Au, 5.6 g/t Ag).
- Drillhole FSDH064 intersected 1,356.0m at 1.09% CuEq from a depth of 44m, including;
- 79.0m at 182.6 g/t Ag from 306.0m
- 424.0m at 1.54% CuEq from 536.0m
- The hole was stopped in mineralization at 1,400.0m depth, with the last 20m averaging 0.45% CuEq (0.31% Cu, 0.18 g/t Au, 1.1 g/t Ag).
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.
Commenting on the results,
HOLE-ID |
From (m) |
To (m) |
Length (m) |
Cu % |
Au g/t |
Ag g/t |
CuEq1 % |
FSDH062 |
134.0 |
1447.2 |
1313.2 |
0.40 |
0.29 |
4.5 |
0.65 |
incl |
400.0 |
920.4 |
520.4 |
0.51 |
0.35 |
6.4 |
0.82 |
FSDH064 |
44.0 |
1400.0 |
1356.0 |
0.58 |
0.53 |
14.4 |
1.09 |
incl |
306.0 |
385.0 |
79.0 |
0.73 |
0.90 |
182.6 |
3.00 |
and incl |
536.0 |
960.0 |
424.0 |
0.86 |
0.84 |
7.8 |
1.54 |
FSDH062 was drilled along the eastern edge of the
FSDH064 was drilled on Section 8800N as an infill hole, filling the 300m gap formed between holes FSDH048 and FSHD058 (Section 8700N) to the south, and FSDH032 (Section 9000N) to the north. It tested an area which has particularly high-grade mineralization in the shallow, oxidized part of the deposit. The hole was pre-collared using a reverse-circulation drill as hole VRC179 to a depth of 350m and continued as a diamond drill hole below this depth. This hole was collared 100m south and 400m west of FSDH062, with the separation between the two holes starting at 422m and ending at 306m.
FSDH064 intersected the silver zone from 306m to 385m, correlating well with adjacent holes. This zone occurs within the main breccia phase which continues to a depth of 564m before transitioning to the porphyry intrusive. The porphyry interval here also correlates well with adjacent holes, continuing to a depth of 1,194m before transitioning again to breccia which continued through to the end of the hole.
This hole is within the current mineral resource to a depth of 438m, intersecting grades that are consistent with the resource block model, although the silver zone here is thicker and higher-grade than expected.
Outlook
The pace of drilling on site is accelerating as we add rigs into the program. Drilling will remain a mix of both large and small step-outs to the north and south of our current interpretation of the
Assay results for completed holes will be released as they are received, analyzed, and confirmed by the Company.
On behalf of
President and CEO
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
1
Copper Equivalent (CuEq) for drill intersections is calculated based on
About
Additional Information
The Company's certified adviser on the Nasdaq First North Growth Market is
The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s). The Company is under no obligation, nor does it intend to update or revise the forward-looking information, whether as a result of new information, future events or otherwise.
This information was submitted by
Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein in the news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "projects", "budgets", "assumes", "strategy", "goals", "objectives", "potential", "possible", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "should", "might" or "will be taken", "will occur" or "will be achieved" or the negative connotations thereof. All statements other than statements of historical fact may be forward-looking statements.
The Company believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Information contained in this news release is as of the date of this press release. In particular, this press release contains forward-looking information pertaining to assumptions made in the interpretation of drill results, geology, grade, geochemistry and continuity of mineral deposits; expectations regarding access and demand for equipment, skilled labour and services needed for exploration and development of mineral properties; and that activities will not be adversely disrupted or impeded by exploration, development, operating, regulatory, political, community, economic, environmental and/or healthy and safety risks. In addition, this news release may contain forward-looking statements or information pertaining to: potential exploration upside at the
Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral resources described can be profitably produced in the future.
The forward-looking statements contained in this news release are made as at the date of this news release and Filo does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. Forward-looking information is based on certain assumptions that the Company believes are reasonable, including that the current price of and demand for commodities will be sustained or will improve, the supply of commodities will remain stable, that the general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms and that the Company will not experience any material labour dispute, accident, or failure of plant or equipment. These factors are not, and should not be construed as being, exhaustive. Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All the forward-looking information contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.
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