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Filo Mining Corp.
Summary
| Project: | Filo del Sol | |
|---|---|---|
| Deposit: | Filo del Sol | |
| Location: | Argentina | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 8/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-8-2018: Filo Mining Corp. announces a Resource Estimation report for its Filo del Sol deposit at the Filo del Sol project. Updated mineral resource estimate at the project. Vancouver - August 8, 2018: Filo Mining Corp (TSX-V: FIL) (Nasdaq First North: F | |
| Resources: | ||
| CP/QP: | [Resources]: James Gray (Advantage Geoservices Ltd.) | |
| ABSTRACT: | Vancouver - August 8, 2018: Filo Mining Corp (TSX-V: FIL) (Nasdaq First North: FIL) ("Filo Mining" or the “Company”) is pleased to announce an updated Mineral Resource estimate for its 100% controlled Filo del Sol copper-gold-silver deposit located along the Chile-Argentina border. Commenting on today’s news release, Adam Lundin, President and CEO of Filo Mining remarked, “The 2017/18 drill program at Filo del Sol proved very successful, and as a result the Company confirms increased tonnage and contained metal in the Indicated Resource category. The resource conversion from Inferred to Indicated for all metals is significant, is in line with expectations and again illustrates just how exciting the Filo del Sol project is. Supported with this updated estimate, I am confident that the Company will meet the targeted release of a prefeasibility study in Q1 2019.” The resource estimate presented in Table 1 represents the total Indicated and Inferred Mineral Resource, divided between the four mineral zones. Each of these zones was reported at a different cutoff grade, based on expectations of the most important metal or metals in each zone. Base-case cutoff grades are shown in Table 1 and each zone is reported at a range of cutoff grades in Tables 2-5 below. These four discreet mineralized zones have been aggregated to derive the total mineral resource. This new resource estimate updates and replaces the resource estimate released on August 21, 2017 and is based on a total of 44,600 metres of drilling in 188 holes including an additional 6,390 metres of reverse circulation drilling in 33 new holes and 2,533 metres of diamond drilling in 12 new holes from the drill program completed in March 2018. This resource update will form the basis for a Pre-Feasibility Study (“PFS”) which is currently underway. Details of the methodology used to develop the resource will be included in the National Instrument 43-101 Technical Report describing the results of the PFS which is expected to be completed in Q1 2019. The PFS will continue on from the PEA in studying a leach-only operation, and so will evaluate only the AuOx, CuAuOx and Ag zones. | |
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