Filo sets stage for near-term copper production

VANCOUVER — Filo Mining (TSXV: FIL) is targeting production within five years at its flagship Filo del Sol copper-gold-silver project in the northern Chile-Argentina border region. The company was spun-out of Lukas Lundin’s NGEx Resources (TSX: NGQ; US-OTC: NGQRF) in mid-2016. Filo released a preliminary economic assessment (PEA) in late November that models a 50,000-tonne-per-day operation with a 15-year mine life. The US$792-million, open pit development would annually produce 50,000 tonnes of copper, 115,000 oz. of gold, and 5 million oz. of silver. The study estimates average co-product cash costs over life-of-mine of around US$1.42 per lb. copper equivalent. The wholly owned property straddles the international border between Argentina’s San Juan province and Chile’s Region III. The site is a 140 km drive southeast of the city of Copiapo in the High Andes of the Atacama. Continue reading at The Northern Miner.