Mining Co. Reports High-Grade Assay Results at Filo del Sol

Filo Mining Corp. shares traded 30% increased at the moment after the Canadian Explorer reported drill outcomes from its Filo del Sol venture in South America that prolonged its high-grade Breccia 41 copper-silver-gold zone by 175m to the North.

Yesterday night, Vancouver-based mineral explorer Filo Mining Corp. (FLMMF:OTCMKTS), which is primarily targeted on mining at two adjoining copper-gold-silver initiatives that straddle the border between Argentina and Chile, introduced assay outcomes from gap FSDH057 at its Filo del Sol property. The corporate famous that the info collected from gap FSDH057 efficiently serves to increase the high-grade Breccia 41 zone northward by 175 m.

Filo Mining reported that although drilling at Gap FSDH057 ceased earlier than reaching the deliberate goal depth, the final 11.1m of drill cores returned 17.6% Cu eq, and the pattern from the ultimate 1.1m collected returned 27.9% Cu eq, which consisted of 13.84% Cu, 13.15 g/t Au and 507.0 g/t Ag.

In mixture, the corporate suggested that ranging from a drill depth of 136.0m, Gap FSDH057 intersected 651.1m of 1.12% Cu eq comprised of 0.63% Cu, 0.37 g/t Au and 25.6 g/t Ag.

The agency talked about that on the deeper drill depths, silver zone assay outcomes confirmed 28.0m of 109.9 g/t Ag, the Aurora zone returned 289.1m of two.0% Cu eq and Breccia 41 returned 11.1 m of 17.6% Cu eq. ranging from a downward depth of 776m. Notably, sampled materials from this final 11.1m phase included 9.11% Cu, 8.87 g/t Au and 230.4 g/t Ag).

The corporate acknowledged that it’s now conducting drilling at scissor Gap FSDH065 which is positioned 690 m west of Gap FSDH057 in an effort to verify the high-grade mineralization reported right here at better depths.

Filo Mining Corp.’s President and CEO Jamie Beck commented, “A outstanding outcome; gap 57 extends the bonanza-grade Breccia 41 mineralization one other 175m to the north, constructing on the potential quantity of this extraordinarily high-grade rock. Previous to reaching goal depth, the opening ended within the highest-grade copper now we have ever reported at Filo del Sol.”

The corporate indicated that it’s persevering with its ongoing drill program and has deployed seven diamond drill (DD) rigs and one reverse circulation (RC) rig. Efforts are centered round an space of high-grade intersection found at FSDH041 throughout its 2020/2021 season and embody extra step-out drilling to measure continuity of the Aurora zone.

The agency commented that it’s now awaiting assay outcomes for Holes FSDH055C and FSDH060 and that it plans to launch the outcomes after they’re acquired and analyzed.

Filo Mining is a Canadian mineral explorer primarily based in Vancouver, B.C. that’s targeted on advancing its wholly-owned Filo del Sol copper-gold-silver deposit which straddles the border between Argentina and Chile. The corporate is a member of the Lundin Group of Firms. In response to the corporate’s web site, Filo del Sol has an Indicated useful resource of three.1 Blb Cu, 4.4 Moz. Au and 146.9 Moz. Ag and an Inferred useful resource of 1.1 Blb Cu, 1.8 Moz. Au and 34.8 Moz. Ag.

Filo Mining began the day with a market cap of round $2.0 billion with roughly 121.4 million shares excellent. FLMMF shares opened 14% increased at the moment at $14.7058 (+$1.8421, +14.32%) over yesterday’s $12.8637 closing worth. The inventory traded at the moment between $14.47 and $17.71 per share and closed for buying and selling at $16.7661 (+$3.9072, +30.39%).

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