Lundin Mining Corp. announced Monday that an initial mineral resource estimate has been completed for the sulphide deposit at the Filo del Sol project. The company also released updated estimates for the Filo del Sol oxide deposit and the nearby Josemaria project. These assets, collectively referred to as the Vicuña Mineral Resource, represent one of the most significant undeveloped copper, gold and silver deposits in the world.

Vicuña Corp., the holding company for both projects, is a 50-50 joint venture between Lundin Mining and BHP. This partnership forms a long-term strategic alliance aimed at developing a globally significant mining district in Argentina. The close proximity of Filo del Sol and Josemaria allows for shared infrastructure, economies of scale, and development flexibility, increasing the overall value and potential of the region.

The newly announced estimates place the Vicuña resource among the world’s top 10 copper-producing mineral resources. The projects collectively contain 13 million metric tons (Mt) of measured and indicated (M&I) copper and 25 Mt inferred. In addition, they include 32 million ounces (Moz) of M&I gold and 49 Moz inferred, as well as 659 Moz M&I silver and 808 Moz inferred.

“This is one of the largest greenfield copper discoveries of the past three decades,” said Lundin Mining President and CEO Jack Lundin. “The resource not only demonstrates the sheer size of Vicuña but also highlights the high-grade zones that could underpin the early years of production.”

The Filo del Sol sulphide deposit contains a high-grade core with 606 Mt (M&I) grading 1.14% copper equivalent (CuEq), including 0.74% copper, 9.6 Moz gold and 259 Moz silver. At Josemaria, a near-surface high-grade core consists of 196 Mt (M&I) grading 0.73% CuEq, offering strong early-stage development potential.

The Filo del Sol oxide cap presents additional value with lower capital intensity. It includes 434 Mt (M&I) at 0.34% copper, 0.28 grams per ton (g/t) gold and 2.5 g/t silver. A high-grade portion within the oxide zone totals 181 Mt (M&I) at 1.05% CuEq.

Exploration drilling at Filo del Sol remains open at depth, with further potential highlighted by intercepts from the nearby Flamenco zone, located about two kilometers to the south. These results suggest the resource could continue to grow with ongoing exploration.

The updated estimate has significantly increased Lundin Mining’s attributable copper resource base, with a 29% rise in M&I copper and a 650% increase in inferred copper resources.

“The Vicuña district is shaping up to be a globally ranked mining complex,” Lundin said. “An integrated technical report for the combined project is on track for completion in the first quarter of 2026. We look forward to working with BHP to unlock long-term value for all stakeholders.”