Filo Mining Reports 1,028m at 1.16% CuEq, including 172m at 2.14% CuEq
- Drillhole FSDH070A intersected 1,056.5m at 0.86% CuEq from a depth of 282m, including;
- 670.4m at 0.97% CuEq from 369.7m
- The hole ended in strong mineralization at a depth of 1,338.5m due to rig capacity, with the final 20.5m averaging 0.75% CuEq (0.53% Cu, 0.27 g/t Au, 2.3 g/t Ag).
- Drillhole FSDH071 intersected 1,028.0m at 1.16% CuEq from a depth of 292m, including;
- 172.0m at 2.14% CuEq from 408.0m
- 237.5m at 1.49% CuEq from 776.0m
- The hole ended in mineralization at a depth of 1,320.0m due to rig capacity, with the final 20m averaging 0.46% CuEq (0.30% Cu, 0.21 g/t Au, 1.3 g/t Ag).
Commenting on the results,
HOLE-ID |
From (m) |
To (m) |
Length (m) |
Cu % |
Au g/t |
Ag g/t |
CuEq1 % |
FSDH070A |
282.0 |
1338.5 |
1056.5 |
0.54 |
0.38 |
4.0 |
0.86 |
incl |
369.7 |
1040.0 |
670.4 |
0.63 |
0.41 |
5.3 |
0.97 |
incl |
540.0 |
712.0 |
172.0 |
0.75 |
0.47 |
5.9 |
1.15 |
FSDH071 |
292.0 |
1320.0 |
1028.0 |
0.78 |
0.47 |
6.7 |
1.16 |
incl |
408.0 |
580.0 |
172.0 |
1.44 |
0.82 |
12.6 |
2.14 |
incl |
514.0 |
574.0 |
60.0 |
2.18 |
1.64 |
16.9 |
3.53 |
and incl |
776.0 |
1013.5 |
237.5 |
1.04 |
0.68 |
6.0 |
1.49 |
Mineralized zones within the |
FSDH070A was drilled into the
Geology matched that in FSDH046 very well, starting in rhyolite cut by microdiorite intrusives and entering the main, well-mineralized breccia phase at a depth of 373m. At a depth of 1,026m the hole entered a porphyry intrusive, and this depth corresponds with a change from high-sulphidation mineralization to porphyry mineralization. At 1,270m the hole passed back into breccia which continued to the end of the hole at 1,338.5m.
FSDH071 was collared 215m east of FSDH057 on Section 9400N and drilled at an angle of -70 degrees towards the west. The entire hole is outside of the resource pit shell.
The hole cut rhyolite and microdiorite intrusive rocks to a depth of 354m, where it entered an unusual anhydrite-rich breccia with elevated molybdenum and copper grades. This breccia continued to 408m, averaging 1.19% CuEq (0.95% Cu, 0.30 g/t Au, 1.8 g/t Ag) and 440ppm Mo. It correlates to a similar breccia in hole FSDH061 which is 130m to the north, and is open down dip, to the east, and to the north.
At 408m the hole entered the main mineralized breccia which was cut by several narrow porphyry intervals and extended to 1,236m where the hole entered another porphyry which continued to the hole's end at 1,320m. Two high-grade intervals were intersected within this breccia. The upper zone, from 408m to 580m, averaged 2.14% CuEq and included a 60m section at 3.53% CuEq. This zone appears to be too far to the east to be the continuation of the high-grade section in FSDH057 and may represent a new zone of mineralization which is open along trend to the northeast and down dip. The lower zone, from 776m to 1,013m, averaged 1.49% CuEq and is possibly an extension of the high-grade interval intersected at the bottom of FSDH057, drilled 170m to the west.
Outlook
Drilling will remain a mix of both large and small step-outs to the north and south of our current interpretation of the
FSDH069A is now complete and was drilled to a final depth of 1,435m, ending as a result of rig capacity. 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
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.
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
info@filo-mining.com
www.filo-mining.com
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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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