(TSXV: FIL) was spun out of Lukas Lundin’s NGEx Resources (TSX: NGQ; US-OTC: NGQRF) in mid-2016 to highlight the Filo del Sol copper-gold property that straddles the Chile-Argentina border, 140 km southeast of the city of Copiapo, Chile. The Atacama region is renowned for large copper porphyry deposits, but Filo del Sol is a rarer near-term development opportunity due to its copper-gold mineralogy and heap leach potential.
Filo del Sol’s inferred resources are 381 million tonnes of 0.39% copper, 0.33 g/t gold and 12.2 g/t silver. Contained metals total 3.3 billion lb. copper, 4 million oz. gold and 150 million oz. silver.
It’s the low cost oxide upside, however, that could make it the Lundin Group’s next development project.
“Filo del Sol wasn’t getting recognized in terms of value because it was our third project, but we really, really liked it,” Filo Mining president and CEO Wojtek Wodzicki says in an interview.
The resource combines several mineralization styles owing to complex geological processes. These include high grade leachable oxide and mixed copper mineralization; structurally controlled gold-silver mineralization; sub-horizontal high grade silver mineralization in mantos; and disseminated copper and gold-silver sulphide mineralization.
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