Lundin/BHP’s first Filo copper resource ranks Chile project among world’s largest

The defined mineralized zone at Filo del Sol spans 10 square kilometers and remains open at depth and along the east and west flanks.

Lundin Mining Corporation (TSX: LUN; Nasdaq Stockholm: LUMI) has released the initial Mineral Resource estimate for the sulphide deposit at Filo del Sol, along with updated figures for the oxide deposit and the Josemaria project. These updates establish the Vicuña District—jointly owned with BHP—as one of the world’s most significant copper, gold, and silver resources.

The Vicuña District, located across Chile’s Atacama Region and Argentina’s San Juan Province, is part of a 50/50 strategic alliance between Lundin Mining and BHP. The proximity of the Filo del Sol and Josemaria deposits allows for shared infrastructure, cost synergies, and future expansion potential for a globally ranked mining complex.

A generational copper discovery with global impact

According to the report, the Vicuña Mineral Resource includes:

• 13 million tonnes (Mt) of copper in Measured and Indicated categories, with an additional 25 Mt inferred.
• 32 million ounces (Moz) of gold M&I and 49 Moz inferred.
• 659 Moz of silver M&I and 808 Moz inferred.

Both deposits feature high-grade cores near the surface, ideal for initial mining phases. Filo del Sol’s high-grade core consists of 606 Mt at 1.14% CuEq, while Josemaria has 196 Mt at 0.73% CuEq.

“Filo del Sol is one of the most significant greenfield copper discoveries of the past 30 years,” said Jack Lundin, President and CEO of Lundin Mining. “This resource confirms its potential as one of the highest-grade undeveloped open pit copper projects globally, as well as one of the largest gold and silver resources.”

Strong expansion potential and long-term value creation

The defined mineralized zone at Filo del Sol spans 10 square kilometers and remains open at depth and along the east and west flanks. Recent drilling results in peripheral areas—such as the Bonita Zone to the north and Tamberías to the south—suggest strong potential to further grow the resource beyond its current limits.

Drilling highlights include:

• 955 meters at 0.36% Cu and 0.15 g/t Au at Bonita (hole FSDH108)
• 610 meters at 0.15% Cu and 0.39 g/t Au at Tamberías (hole FSDH116)

The combined Mineral Resource also marks a significant increase in Lundin Mining’s copper inventory, with a 29% rise in M&I resources and a 650% increase in inferred copper.

Next steps and technical reporting

The new resource figures will form the basis of an integrated technical report for the Vicuña District, scheduled for release in Q1 2026. This document will supersede previous feasibility studies, including the 2020 Josemaria report, and establish a unified development plan for the district.

With this announcement, Lundin Mining reinforces its position as a global leader in copper production and critical mineral development, with the Vicuña District emerging as a cornerstone for future growth.