Unprecedented Discovery: 4.5 Million Ton Copper Reserve Unearthed, Alongside Massive Gold and Silver Deposits—Largest Find in 3 Decades

Canadian mining company Lundin Mining has announced a groundbreaking discovery at its Filo del Sol project in South America, part of the Vicuña joint venture with partner BHP. This find is hailed as the largest copper deposit uncovered in the past 30 years, catapulting the project into the top 10 global copper resources.

The Vicuña joint venture, encompassing both Filo del Sol and Josemaria deposits, boasts 13 million tonnes of measured and indicated (M&I) copper resources, alongside an additional 25 million tonnes of inferred copper. Beyond copper, the area also hosts 32 million ounces of M&I gold (49 million ounces inferred) and 659 million ounces of M&I silver (808 million ounces inferred).

At Filo del Sol, the high-grade core contains 4.5 million tonnes of copper, 9.6 million ounces of gold, and 259 million ounces of silver, totaling 606 million tonnes of M&I resources with a copper equivalent grade of 1.14% CuEq. Meanwhile, Josemaria’s near-surface core holds 978,000 tonnes of copper, 2.4 million ounces of gold, and 11 million ounces of silver, totaling 196 million tonnes of M&I resources at 0.73% CuEq.

Additionally, Filo del Sol’s oxide layer, suitable for heap leaching, comprises 434 million tonnes of ore with 1.5 million tonnes of copper, 3.9 million ounces of gold, and 35 million ounces of silver. Within this layer, a high-grade oxide zone contains 911,000 tonnes of copper, 2.3 million ounces of gold, and 230 million ounces of silver across 181 million tonnes of ore, grading at 1.05% CuEq.

Drilling activities at Filo del Sol have yet to reach the limits of mineralization, indicating further expansion potential at depth. Additionally, drilling at Flamenco, 2 km south of Filo del Sol, has revealed mineralization beyond the current mining boundaries.

For Lundin Mining, this discovery boosts its M&I copper reserves by 29% and its inferred copper reserves by 650%. The Filo del Sol deposit spans 10 km², measuring 6.5 km in length and 1.5 km in width.

Jack Lundin, Chairman and CEO of Lundin Mining, emphasized, “Filo del Sol stands as one of the most significant new mining discoveries in the last three decades. The initial mineral resource estimate highlights its potential as one of the world’s highest-grade undeveloped open-pit copper projects and a leading global gold-silver resource.”

He added that the project is poised to develop into a world-class mine, supporting a global mining complex, with an integrated technical report expected in Q1 2026.

In March 2025, Lundin Mining signed an exclusivity agreement with Talon Metals to negotiate the acquisition of up to 70% interest in the Boulderdash and Roland nickel-copper exploration areas, underscoring the company’s strategy to expand its mineral resource footprint in South and North America.

With the Filo del Sol discovery and its untapped expansion potential, Lundin Mining is solidifying its position as a leading developer of copper, gold, and silver mines globally, while unlocking opportunities for resource value and profitability in the years ahead.