Filo Mining posts 61% increase in resource tonnes at Filo del Sol Project
Staff Writer |
Filo Mining Corp. announced a significant increase to the Mineral Resource estimate for its 100% controlled Filo del Sol copper-gold-silver deposit located along the Chile-Argentina border.
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Wojtek Wodzicki, president and CEO of Filo Mining remarked, "Today's results confirm Filo del Sol as one of the best growth projects in South America.
"With less than 9,000 metres of new drilling we were able increase the resource by 61% and more importantly, define distinct gold oxide, copper-gold oxide, and silver zones that are amenable to heap leach processing.
"The tonnes and grades in the copper-gold oxide zone by itself are comparable to some of the larger copper leach operations in Northern Chile with the added benefit of significant precious metal resources in the gold and silver zones.
"The exploration upside at Filo is excellent and we are confident that this resource still has room to grow. These results are an important step toward our goal of building Filo Mining into a significant new gold, copper, and silver producer."
Metallurgical testwork completed to date indicates that the oxide zones are amenable to heap leach processing and that the silver zone could either be leached or processed by flotation to produce a silver-rich concentrate.
The conceptual engineering studies now underway focus on the upper three zones.
This new resource estimate updates and replaces the resource estimate released on November 23, 2015 and is based on a total of 36,200 metres of primarily reverse circulation drilling including an additional 7,500 metres of reverse circulation drilling in 37 new holes from the drill program completed in March 2017. ■
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