06:48 AM EDT, 03/21/2024 (MT Newswires) -- Filo Corp ( FLMMF ) overnight Wednesday reported fourth-quarter 2023 net loss of $32.2 million, or $0.25 per share, widening from a loss of $21.0 million, or $0.17 per share, in the year-ago quarter.

The company said it delivered its most extensive drilling campaign to date in 2023. Filo completed 37,188 meters of resource drilling and 1,597 meters of geotechnical drilling.

"Drilling extended the boundaries of the Aurora Zone and improved our geological interpretation. Additionally, our large step-out holes provided very promising results that indicate continuous mineralization from the Aurora Zone towards the northern Bonita Zone, with mineralization remaining open at both ends," said Filo President and CEO Jamie Beck.

Filo is planning a 40,000-meter year-round drilling campaign in 2024. Nine drill rigs will be operating at site.

The Filo del Sol copper-gold-silver deposit in Argentina is Filo's flagship project.