- Drillhole FSDH055A returned 64.0 m at 1,213.8 g/t Ag and 0.49 g/t Au from a depth of 362m; this represents the best intersection of high-grade silver on the project to date.
- A total of 5,000m of diamond drilling has now been completed during the current program, with one hole (FSDH054) completed to a depth of 1,370m and five holes currently underway.
Commenting on the initial results,
FSDH055A is located 50m to the west of, and parallel to, FSDH041. It intersected the high-grade silver zone as shown in the table below, before being abandoned at a depth of 485m due to drilling difficulties. FSDH055C is currently underway at the same location to re-drill this hole to target depth.
HOLE-ID | From (m) | To (m) | Length (m) | Cu % | Au g/t | Ag g/t |
FSDH055A | 362.0 | 426.0 | 64.0 | 0.01 | 0.49 | 1,213.8 |
incl. | 374.4 | 402.0 | 27.6 | 0.01 | 0.50 | 2,439.2 |
incl. | 380.0 | 388.0 | 8.0 | 0.01 | 0.45 | 5,280.0 |
This is the best intersection of the high-grade silver zone at Filo del Sol drilled to date and sits completely outside the current mineral resource. This intersection is open in several directions, with a 420m undrilled gap to the north, between FSDH055A and FSDH037 (104m at 120 g/t Ag, see News Release dated
Initial holes for this program were designed to explore the area around the high-grade intersection in FSDH041 from the 2020/2021 season, with holes FSDH054, FSDH055 and FSDH056 as 50m step-outs to the east, west and south respectively. FSDH054 was completed at a depth of 1,370m in early December, and this drill has been moved to FSDH059 located 100m north of FSDH041. Two larger step-outs are also underway, FSDH057 located 200m north of FSDH041 and FSDH058 located 450m to the south of FSDH041.
Outlook
Drilling will continue year-round at Filo del Sol in 2022 with our most ambitious field program ever. The Company plans to add an additional two drill rigs in early February, bringing the total rig count to seven drills operating throughout the year. Assay results have been received for approximately 2,100m of the length drilled to date, and additional results will be released as they are received, analyzed and confirmed by the Company.
On behalf of
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
About
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.
This information was submitted by
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 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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