Vicuña Corp announces massive copper, gold and silver deposit in San Juan

Vicuña Corp, the 50/50 strategic alliance between Lundin Mining and BHP, announced that the combined resources of the San Juan-based projects Filo del Sol and Josemaría place the Vicuña district among the ten largest known copper deposits worldwide.
Vicuña announced the completion of an initial mineral resource estimate for the Filo del Sol sulfide deposit, along with an update for the oxide deposits at Filo del Sol and Josemaría. The development consolidates the Vicuña mining district as one of the largest copper, gold, and silver deposits in the world.
Josemaría is a deposit in the far northwest of San Juan Province, in the Iglesia department, 475 kilometers from the provincial capital and 10km from the Chilean border.
The project, currently in the pre-construction stage, proposes conventional open-pit mining at over 4,000 meters above sea level and mineral processing through crushing and grinding, flotation, and filtration of the copper concentrate. The operation is estimated to last 19 years.
According to the company’s estimates, transitioning to the construction phase, which will take about three years, will require an investment of US$5 billion and the hiring of 6,000 direct workers, as well as approximately 35,000 indirect workers.
The consolidated mineral resources of the Vicuña district are as follows:
Copper: 13 million tonnes measured and indicated, an average grade of 0.35% Cu. 25 million tonnes, inferred, at 0.32% Cu.
Gold: 32 million ounces measured and indicated at 0.27 g/t Au. 49 million ounces inferred at 0.19 g/t Au.
Silver: 659 million ounces measured and indicated at 5.6 g/t Ag. 808 million ounces inferred at 3.2 g/t Ag.
These figures place the Vicuña district among the most significant metal discoveries of recent decades, with potential for expansion.
The Filo del Sol project is considered the largest greenfield copper discovery in the last 30 years, according to S&P Global rankings. The deposit also contains a significant layer of copper oxides at the surface. The presence of these oxides allows for a phased development strategy, with lower capital costs and earlier investment returns.
Potential for expansion
Drilling campaigns at Filo del Sol and Josemaría indicate that mineralization continues at depth and has not been fully delineated.
Additionally, new drillings in the Flamenco area, just 2 km south of Filo del Sol, reveal the presence of mineralization beyond the current resource boundaries.
This ongoing growth potential opens the door to future phased expansions of the project, with the capacity to become a world-class mining complex.
“This resource estimate is a key milestone for Vicuña, which is advancing significantly toward its vision of developing an integrated project,” said Dave Dicaire, general manager of Vicuña Corp.
In Lundin’s prior statement, Jack Lundin, president and chief executive officer, said: “Filo del Sol has been one of the most significant deposit discoveries of the last 30 years and an incredible experience for everyone involved. Congratulations to the Filo team for this remarkable discovery and for having brought the deposit to where it is today.”
Full version originally published on Ámbito Energy Report