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Filo Mining trades higher on drill results

Kitco Media
By Michael McCrae
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(Kitco News) - On Monday Filo Mining (TSX: FIL) reported 701m at 1.13% copper equivalent at its Filo del Sol project in San Juan, Argentina.

Drillholes FSDH061 and FSDH063 have successfully extended the strike length of the Aurora Zone by 180m to a total of 1.6km, and it remains open to expansion in the north and south directions, said the company.

The company is up 11% to $18.37 a share this week.

CEO and president Jamie Beck, called the target remarkable.

"Hole 61 pulls the Aurora Zone another 180m northeast of Hole 57, which was our previous northernmost intersection in this zone of elevated grade," said Beck. "The Aurora Zone is completely open to the north beyond this hole, and now extends 1.6 km southwest to the intersection in Hole 63. As we ramp up drilling into the South American spring and summer, we will continue a combination of larger step-out holes to try to find the edges of the mineralized system, along with step-out and infill holes to try to fully define the size of this remarkable Aurora Zone."

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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