Continues To Build Copper Story In Chile
Filo Mining Corp.(TSXV: FIL) has discovered a new gold discovery with the current drill programme at the Filo del Sol project in Chile’s Region III and adjacent San Juan Province, Argentina.
The new zone of oxide gold mineralisation is located 1.5 km north of the Filo del Sol deposit and the extension of the Filo high-grade silver zone by 600m to the north.
The new oxide gold discovery was intersected in hole FSDH042 which drilled 48m at 1.01 g/t gold and lies west of the main copper trend.
Meanwhile, two new holes intersected the silver zone north of the previous northernmost intersection in hole FSDH032. Hole FSDH041 intersected 120m at 54.3 g/t silver (180m north of FSDH032), and FSDH037 intersected 104m at 119.9 g/t silver (600m north of FSDH032).
President and CEO, Jamie Beck, said this increases the total length of the silver zone to 2,050m.
“While the copper story at Filo del Sol builds, these results highlight the unique precious metals rich nature of the system,” Mr Beck said.
“A new gold zone discovered in hole FSDH042, which intersected the edge of a modelled conductivity anomaly, confirms our expectation that the Filo del Sol system extends well beyond the known deposit.
“Additionally, partial results from holes FSDH037 and FSDH041 have led to a significant northern expansion of the known high-grade silver zone.
“We are confident that as we continue to expand our drill footprint, we will continue to make new discoveries.
“The programme is now in full swing, with five rigs turning, and we expect a steady stream of assay results over the next few months.”
Eight holes have been completed during the current season, with five holes in progress.
Hole FSDH042 was drilled to a total depth of 648m, with the gold zone assaying 1.01 g/t gold over 48m between 262 and 310m.
Hydrothermal breccia with intense silica alteration is mapped at surface in the area of FSDH042, and this target is further supported by surface geochemical samples with anomalous gold, silver and pathfinder elements.
Drilling is planned to continue to the end of May, dependent on weather at site as winter approaches the Southern hemisphere, and the continued success of our COVID management plan.
