- Drillhole FSDH048 has returned the third best intersection on the project to date (measured by CuEq grade-thickness interval), is located 600m to the south of FSDH041, and demonstrates strong mineralization to over 1,100m below surface.
- FSDH048 returned 352m at 1.16% CuEq (0.63% Cu; 0.64g/t Au; 6.7g/t Ag) from 498m depth within a broader interval of 1,081m at 0.88% CuEq (0.52% Cu; 0.43g/t Au; 5.3g/t Ag) from 38m depth. The hole ended in mineralization at a depth of 1,118.5m, with the final 20m averaging 0.57% CuEq (0.35% Cu; 0.29g/t Au; 0.58g/t Ag).
- FSDH047, which was collared 200m to the north and 300m to the east of FSDH048, returned 407.5m at 0.43% CuEq (0.29% Cu; 0.16g/t Au; 2.1g/t Ag) from 86m. The hole ended in mineralization, with the final 20m averaging 0.51% CuEq (0.34% Cu; 0.21g/t Au; 2.1g/t Ag). This hole was drilled towards the east and extends the width of the deposit by 160m in that direction. The entire deposit remains completely open towards the east.
- The full intersection in FSDH047, and FSDH048 below 425m, lie completely outside of the current mineral resource.
- These holes were collared prior to drilling the high-grade zone intersected in hole FSDH041 (see News Release dated
May 13, 2021 ) and were not intended to follow up on that intersection.
Commenting on the results, President and CEO
A total of 11,280m was completed in 15 holes during the 2020/2021 field season. Drilling has now stopped for a short break while the Company prepares the drills and camp facilities for continuous, year-round field operations.
HOLE-ID | From (m) | To (m) | Length (m) | Cu % | Au g/t | Ag g/t | CuEq % |
FSDH047 | 86.0 | 493.5 | 407.5 | 0.29 | 0.16 | 2.1 | 0.43 |
incl | 324.0 | 493.5 | 169.5 | 0.39 | 0.20 | 2.9 | 0.57 |
FSDH048 | 38.0 | 1,118.5 | 1,080.5 | 0.52 | 0.43 | 5.3 | 0.88 |
incl | 498.0 | 850.0 | 352.0 | 0.63 | 0.64 | 6.7 | 1.16 |
Hole FSDH047 was drilled from the same platform as FSDH044 but angled towards the northeast at a dip of -70 degrees. The hole was collared in strongly altered and leached sulphate-rich rock typical of the upper part of the Filo del Sol system, with a transition to less weathered rock between 80 and 100m. The hole then continued in alternating rhyolite and microdiorite cut by a stockwork of weak to moderate A, B and D veinlets and affected by argillic and advanced argillic alteration to its end at 493.5m.
Hole FSDH048 was collared 400m south of FSDH032 and 100m north of FSDH034. It was drilled at an angle of -70 degrees towards the west to a final depth of 1,118.5m. The hole confirms the continuity of the strong mineralization encountered in holes FSDH034 and FSDH032. Even at a depth of over 1,100m, the hole ended in mineralization with the final 20m averaging 0.57% CuEq (0.35% Cu; 0.29g/t Au; 0.58g/t Ag).
FSDH048 intersects various hydrothermal breccias between 155 and 300m, followed by a strongly altered rhyolite, which is cut by several porphyry intervals starting at 516m, and ends in granite. Strong mineralization occurs throughout the hole, with advanced argillic alteration accompanied by disseminated copper sulphides such as covellite-chalcocite-enargite (sometimes as rims) and abundant porphyry veins (types A, M, B and D). Towards the end of the hole, the remanent potassic alteration is visible and mineralization includes chalcopyrite and bornite as well.
A 325m interval of porphyry in this hole is one of the thickest porphyry intersections drilled to date, and together with several adjacent holes, defines a substantial mineralized porphyry intrusive. Initial interpretation of this body suggests it is aligned in a NNE direction, parallel to the main structure which appears to control the distribution of alteration on surface.
Outlook
Assay results for nine of the 15 holes drilled this season have been released, with the remaining six to come as results are received. Hole FSDH046 was completed to a final depth of 1,570.7m, while the final five holes of the program (FSDH049 (515.3m), FSDH050 (476.8m), FSDH051 (765.1m), FSDH052 (152.0m) and FSDH053 (150.0m)) were suspended prior to reaching target depth. Assay results for hole FSDH046 and the completed portions of the remaining holes are pending. Drilling will be resumed in August and is expected to continue without interruption as we transition to year-round operations. The Company plans to complete a resource update prior to the end of the year, which will incorporate data from the deep holes drilled since 2019, as well as several more to be completed in the late summer and fall.
On behalf of
President and CEO
FIL Base Map Satellite Image
FIL Long Section
FIL Section 8800N
FIL Section 8600N
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 in holes FSDH047 and FSDH048 are interpreted to be very close to true widths.
Copper Equivalent (CuEq) for drill intersections is calculated based on
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Additional Information
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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
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