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Located along the border of Chile and Argentina, the Filo del Sol copper deposit has been under investigation for years for potentially being one of the largest copper deposits in the world. And that makes sense, considering this deposit is nestled along the Atacama Desert—long known for its immense copper reserves due to its location in the Andes and its placement within the eastern portion of the Ring of Fire.
However, a new initial mineral resource estimate completed earlier this month suggests that the companies in charge of mining this area—the U.S.-based Lundin Mining and BHP—may have stumbled upon five times more metal than they bargained for. According to a statement from Lundin Mining, the new assessment estimates the presence of up to 13 million tonnes of copper, 907,000 kilograms (32 million ounces) of gold, and 18.6 million kilograms (659 million ounces) of silver.
This new update, gathered from data collected from 400 additional exploration holes, came from the discovery that deeper mineralization of copper far exceeded the estimates that were closer to the surface. According to AFP, Filo del Sol could prove to be richer still, as experts dig deeper and explore the resource’s northern and southern boundaries.
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