- Drillhole FSDH093 intersected 1,449.2m at 0.61% CuEq from 338.8m, including:
- 652.0m at 0.81% CuEq from 492.0m
- 276.0m at 0.95% CuEq from 804.0m
- 76.0m at 0.84% CuEq from 1,674.0m
- The latter intersection is interpreted to be a continuation of the high-grade sheeted vein mineralization first intersected in FSDH086 and is located 130m northeast and 300m below that intersection
- Drillhole FSDH094 intersected 1,298.0m at 1.01% CuEq from 192.0m, including:
- 52.0m at 252.4 g/t Ag from 364.0m in the silver zone
- 304.0m at 1.30% CuEq from 444.0m
Commenting on the release,
HOLE-ID | From (m) | To (m) | Length (m) | Cu % | Au g/t | Ag g/t | CuEq1 % |
FSDH093 | 338.8 | 1788.0 | 1449.2 | 0.41 | 0.21 | 5.0 | 0.61 |
incl | 492.0 | 1144.0 | 652.0 | 0.55 | 0.25 | 8.6 | 0.81 |
incl | 804.0 | 1080.0 | 276.0 | 0.66 | 0.31 | 6.7 | 0.95 |
and incl | 1674.0 | 1750.0 | 76.0 | 0.63 | 0.26 | 2.5 | 0.84 |
FSDH094 | 192.0 | 1490.0 | 1298.0 | 0.59 | 0.40 | 15.0 | 1.01 |
incl | 364.0 | 416.0 | 52.0 | 0.59 | 0.47 | 252.4 | 3.15 |
and incl | 444.0 | 748.0 | 304.0 | 0.84 | 0.53 | 9.4 | 1.30 |
Mineralized zones at Filo del Sol are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths. |
1Copper Equivalent (CuEq) for drill intersections is calculated based on |
FSDH093 was collared on Section 9400N, 500m east of FSDH086, and drilled to the west at -70 degrees. The hole intersected rhyolite country rock cut by a mafic sill to a depth of 619m where it entered the main mineralized breccia phase. The breccia is cut by a porphyry interval from 1,061m to 1,270m and transitions again to porphyry at 1,594m to the end of the hole at 1,886.6m. The porphyry intervals are comprised of different phases which can be difficult to distinguish visually but typically show different vein densities and grade characteristics.
In particular, the section from 1,674m to 1,750m contains elevated grades compared to the adjacent porphyry intervals, contains distinct sheeted quartz +/- sulphide veins, and is correlated with a similar section in hole FSDH086 between 1,370m and 1,414m. This section in hole FSDH093 is actually comprised of two intervals cut by a later, lower grade porphyry phase, and can be broken down into 37.5m at 1.08% CuEq (0.79% Cu, 0.36 g/t Au, 3.1 g/t Ag) and 12.0m at 1.30% CuEq (1.01% Cu, 0.36 g/t Au, 3.5 g/t Ag). This high-grade porphyry phase is open in all directions and remains a compelling exploration target.
The hole was stopped in a low-grade porphyry phase at 1,886.6m and is the deepest hole drilled to date at Filo del Sol.
FSDH094 was collared on Section 9100N and drilled to the west at -70 degrees. It intersected strongly leached rhyolite volcaniclastics to a depth of 295m where a complex sequence of phreatic and magmatic-hydrothermal breccias was encountered and continued to 474m. This breccia contains abundant clasts of the mafic sill, and includes the high-grade silver zone intersection from 364m to 416m. The main breccia phase continues from 474m to 655m where it is cut by a porphyry intrusive to 960m, with breccia then continuing to the end of the hole.
The hole ended in mineralization due to the capacity of the drill rig, with the last 20m averaging 0.45% CuEq (0.30% Cu, 0.20 g/t Au, 0.7 g/t Ag).
Outlook
Drilling is ongoing with nine rigs active on the project. Drill productivity is improving with the onset of summer supported by a number of initiatives directed at improving drill efficiency and productivity. December was the most productive month last year with 4,750m drilled, leading to a total of 38,785m of drilling in 2023.
Drillholes FSDH092, FSDH096 and FSDH099 were suspended at depths of 370m, 262m and 179m respectively to take advantage of the summer season and those drills have been moved to more distal frontier exploration areas. No significant assay results were encountered in any of the holes as they were ended above expected mineralized depths.
Drillholes FSDH097 (1,445m), FSDH098 (1,364m), FSDH100 (887m), FSDH101 (1,380m) and FSDH104 (1,447m) are now complete with assays pending. Assay results for completed holes will be released as they are received, analyzed, and confirmed by the Company. Drillholes FSDH102 through FSDH111 are underway.
On behalf of Filo,
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.
1Copper Equivalent (CuEq) for drill intersections is calculated based on
About
Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in
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.
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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, potential implications of geophysics interpretations, 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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