Canada's Filo Mining injects $7M into copper-gold-silver project on Chile Argentina border

By Cecilia Jamasmie / January 10, 2017 / www.mining.com / Article Link

Canadian junior Filo Mining (TSX-V:FIL), a Lundin Group company, is moving ahead with its flagship into copper, gold and silver project straddling the Chile-Argentina border by investing US$7 million to step up drilling efforts.

The Vancouver-based company plans to complete 6,000 metres of additional drilling by April this year with the goal of expanding the oxide resource. It also expects to conduct additional metallurgical testing, Portal Minero reports (in Spanish).

Filo del Sol, the miner's flagship project, is located 140 km southeast of the city of Copiap??, Chile, on the border with Argentina. The asset is accessible by road from either side, although the Chilean city is much closer - about four hours driving time.

The project's inferred resources are pegged at 3.3 billion pounds of copper, 4 million ounces of gold and almost 150 million ounces of silver.

Companies have been working on the area for over 16 years, but it wasn't until August last year, when Filo Mining took over the project and received $3 million in cash from former partner NGEx Resources (TSX:NGQ), that work picked up pace.

Recent News

Platinum to palladium ratio low, platinum to gold high, versus history

July 15, 2024 / www.canadianminingreport.com

Gold stocks up on metal and equities gains

July 15, 2024 / www.canadianminingreport.com

Most major metals rebound on potential global monetary easing

July 09, 2024 / www.canadianminingreport.com

Gold stocks rebound substantially

July 09, 2024 / www.canadianminingreport.com

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok