#125017
Re: Cobas AM: Nueva Gestora de Francisco García Paramés
Filo Mining Corp. Discovers New Gold Zone and Extends Silver Zone by 600M North
Filo Mining Corp. announced additional assay results from the current drill program at Filo del Sol, including the discovery of a new zone of oxide gold mineralization 1.5 km north of the Filo del Sol deposit and the extension of the Filo high-grade silver zone by 600m to the north. Highlights are below, along with accompanying figures: The new oxide gold discovery was intersected in hole FSDH042 which drilled 48m at 1.01 g/t gold. This hole is 260m away from the nearest drill hole, 1,500m north of the Filo del Sol deposit, and lies west of the main copper trend; Two new holes intersected the silver zone north of the previous northernmost intersection in hole FSDH032. Hole FSDH041 intersected 120m at 54.3 g/t silver (180m north of FSDH032), and FSDH037 intersected 104m at 119.9 g/t silver (600m north of FSDH032). This increases the total length of the silver zone to 2,050m. Assay results from FSDH037 and FSDH041 here are partial results with full assays pending. Hole FSDH042 was drilled to a total depth of 648m, with the gold zone assaying 1.01 g/t gold over 48m between 262 and 310m. The zone is characterized by oxidized intense silica alteration and hydrothermal brecciation which extends from surface to a depth of 400m in the host rhyolite. Brecciation is particularly well-developed within the mineralized zone. Hydrothermal breccia with intense silica alteration is mapped at surface in the area of FSDH042, and this target is further supported by surface geochemical samples with anomalous gold, silver and pathfinder elements. Hole FSDH037 was started last season and drilled to a depth of 205m before the program was curtailed. The hole was re-entered this season, and completed to a final depth of 882m, with full assay results pending. Silver mineralization is hosted by quartz-alunite altered rhyolite with disseminations and veinlets of pyrite and associated chalcocite and covellite. Hole FSDH041 was completed to a final depth of 1,046m with full assay results pending. The silver zone in this hole has a more brecciated aspect, and is characterized by abundant fine-grained pyrite with accessory chalcocite and covellite. The silver zone represents a roughly tabular body which dips shallowly to the north, and now extends over a north-south distance of 2,050m and an east-west distance of about 500m. Prior to this 600m extension, the approximate 1,450m x 500m x 25m interpretation of this zone represented a resource of 114 Mozs indicated (40.5Mt at 87.6 g/t silver) plus 22M ozs inferred (8.8Mt at 79.3 g/t silver). The zone is roughly parallel to stratigraphy within volcaniclastic units in the host rock, and mineralization appears to be controlled by porosity and permeability within these units. The intersections in holes FSDH037 and FSDH041 lie along the northern projection of this zone. The company's current interpretation is that the mineralization is a result of lateral fluid flow along favourable stratigraphic units, fed by a vertical feeder zone. The interpreted feeder zone remains a compelling exploration target. Full assays for holes FSDH037 and FSDH041, along with the remainder of the holes will be released in batches as they are received. Drilling is planned to continue to the end of May, dependent on weather at site as winter approaches the Southern hemisphere, and the continued success of the company's COVID management plan.
