Filo Mining discovers new porphyry copper-gold system from step-out drilling

Filo Mining (TSX: FIL; OTC: FLMMF) has discovered a new porphyry copper-gold centre along the Filo trend, about 2 km northeast of the Breccia 41 zone at its Filo del Sol project in San Juan, Argentina.

Part of its ongoing drill program at Filo del Sol, hole FSDH060 intersected 738 metres at 0.39% copper, 0.14 gram gold per tonne and 1.4 gram silver per tonne, from a depth of 332 metres. This hole is interpreted to have intersected a new porphyry centre, named the Bonita zone, along the Filo del Sol corridor, further confirming that the property hosts a multi-kilometre alignment of overlapping porphyry-centered hydrothermal systems.

"Hole 60 provides yet more evidence to support our interpretation that Filo del Sol is one of the most important copper-gold-silver discoveries in years. To step out this far, into a completely new area, and drill an intersection like this is an incredible result," Jamie Beck, president and CEO of Filo Mining, commented.

Copper sulphate mineralization at Filo del Sol project that straddles the border of Argentina and Chile. Credit: Filo Mining

The company regards the Bonita zone as a "very high-priority drill target" that it plans to follow up on during the South American spring season.

Meanwhile, its winter drill program, designed to expand and infill the Aurora and Breccia 41 zones, continues. The drilling will transition to larger step-out holes to continue to try to find the edges of the mineralized zone and to investigate the Bonita zone as spring arrives. Results are still pending for three holes (FSDH061, 63 and 66) from the current program.

The Filo del Sol project is located 140 km southeast of the city of Copiap??, Chile, comprising mineral titles that straddle the Argentina-Chile border. The property hosts a high-sulphidation epithermal copper-gold-silver deposit associated with one or more large porphyry copper-gold systems.

As 100% owner, Filo plans to develop the project into a conventional open-pit mine that is expected produce on average 67,000 tonnes of copper, 159,000 ounces of gold and 8.7 million ounces of silver per year over a 14-year project life.