07:01 AM EDT, 06/11/2024 (MT Newswires) -- Filo (FIL.TO) overnight Monday reported assay results from the Filo del Sol project that supported the interpretation of a minimum 5.5-kilometer high-grade corridor through the Filo deposit.

Highlights of the results include 1,036 meters at 0.65% copper equivalent (CuEq) from 96.0 meters in the Bonita Zone, including 472.5 meters at 1.02% CuEq from 659.5 meters.

The results expanded a previously drilled high-grade zone, showed a possible northern continuation of the Aurora Zone and confirmed the Bonita Zone northern extension.

"Our drilling continues to exceed expectations at Filo, and these latest results from the northern part of Filo open up two new high-potential exploration targets," said Filo President and CEO Jamie Beck. "Winter arrived unusually early this season, and as a result, we are taking a short break from drilling with plans to resume as soon as conditions permit."

Drill holes currently underway will provide partial results to inform the company's block model update and feed into an initial sulphide resource estimate at Filo del Sol, targeted for the early fourth quarter.

Filo gained 2.7% to $24.76 per share on Monday.