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A district in the making

Josemaria Resources

Josemaria, Filo del Sol (Filo Mining) and Los Helados (NGEx Minerals) are three major new copper/gold discoveries bordering Argentina and Chile that Lundin Group companies are advancing.  The three projects represent the first grass roots discovery of a major new deposit cluster in the Argentina/Chile copper belt in decades.

The area was originally targeted in the early 2000’s as part of a regional exploration program run by the Lundin Group’s Argentina Gold Veladero discovery team, following Veladero’s acquisition by Homestake and, subsequently, Barrick. The initial target was high-sulphidation epithermal systems similar to Veladero and Pascua-Lama in what was perceived as a gap between the Pascua-Lama-Veladero District to the south and the Maricunga Belt to the north.

Filo del Sol was one of the earliest targets identified as it was a very large alteration zone visible on satellite images. There was early recognition not only of the size and scale of the Filo system, but that the area had numerous large-scale targets that might host a deposit cluster similar to others in the Andes. Over time, other targets in the region were developed, additional land was consolidated and the Josemaria and Los Helados discoveries were made. The Josemaria deposit was discovered during the initial drilling campaign in the 2003-04 field season. The first hole drilled intersected 280 metres grading 0.61% copper and 0.51 g/t gold1.

Since initial exploration began in 2003, the Lundin Group has backstopped Josemaria – as well as Filo del Sol and Los Helados – through all market environments owing to their quality and regional potential. Josemaria is the centrepiece of a district in the making.

1 See NI 43-101 Technical Report, Feasibility Study for the Josemaria Copper-Gold Project, San Juan Province, Argentina