Quick overview

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Canadian mining company Lundin Mining Corporation has announced the most significant copper discovery in Argentina in the past three decades.

According to a company statement, Vicuña Corp. — a 50/50 joint venture between Lundin Mining and BHP — has completed an initial mineral resource estimate for the Filo del Sol sulfide deposit, along with an updated estimate for the Josemaría deposit. Together, these make up the Vicuña mineral resources.

These findings position the Vicuña project among the top ten largest copper-producing mines in the world, with measured and indicated resources totaling 13 million tonnes of copper, 32 million ounces of gold, and 659 million ounces of silver based on the latest drilling data.

The discovery has been described as “the largest copper find in unconventional deposits in the last 30 years.” Both Filo del Sol and Josemaría contain significant high-grade mineralization, the company said.

Drilling at Filo del Sol has reached the base of the current mineralized zone and remains open at depth. Meanwhile, exploration in the nearby Flamenco zone—about two kilometers to the south—has intercepted mineralization beyond the current resource boundaries.

This discovery represents a nearly 30% increase in Lundin Mining’s attributable copper mineral resource base and a staggering 650% increase in inferred copper resources.

Lundin’s Words

Lundin Mining President and CEO Jack Lundin commented, “Filo del Sol has been one of the most significant copper deposit discoveries of the past 30 years and an incredible journey for everyone involved.” He praised the team for their “remarkable” achievement and for advancing the project to its current stage.

“Filo del Sol and the broader Vicuña district are poised to become a world-class deposit that will support a globally significant mining complex,” he added.

Further Deposits

On the Josemaría deposit, Lundin expressed confidence in its future, stating, “We see its potential to become not only a major copper producer but also one of the world’s largest gold and silver mines, with 32 million ounces of contained gold and an additional 49 million ounces in inferred resources. Large deposits tend to grow, and we see clear expansion potential.”

He concluded by emphasizing the company’s commitment to advancing Vicuña in partnership with BHP, aiming to “deliver long-term value to our shareholders.”

Filo del Sol is an advanced-stage copper exploration project located on the border of San Juan Province, Argentina, and Chile’s Atacama Region.