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    FIL   CA31730E1016

FILO MINING CORP.

(FIL)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-07-06 pm EDT
17.15 CAD   +3.25%
06/27Mining firms poised to lead capital raisings in Canada, TSX CEO says
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06/24Filo Mining Corp. Announces Board Changes
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06/23Filo Mining Announces 2022 Annual General and Special Meeting Results
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Filo Mining Corp. Announces Assay Results from the Ongoing Drill Program at the Filo Del Sol Project

05/24/2022 EDT

Filo Mining Corp. announced assay results from holes FSDH055C and FSDH059 from the ongoing drill program at the Filo del Sol Project.  Hole FSDH055C is the best hole drilled on the project to date, measured by copper-equivalent (CuEq) multiplied by intercept length, and ended in strong mineralization at almost 1,500m depth. FSDH055C returned 1,337.5m at 1.33% CuEq from 150m, including: 126.0m at 5.02% CuEq from 728m in Breccia 41, including; 24.0m at 13.30% CuEq from 728m within the same zone; and The latter intersection included an 8.6m section at 20.25% CuEq. The hole was stopped at a depth of 1,487.5m due to the capacity of the drill, and ended in strong porphyry-style mineralization with the last 21.5m of the hole at 0.93% CuEq (0.62% Cu, 0.41 g/t Au, 0.9 g/t Ag). The hole was stopped at a depth of 1,487.5m due to the capacity of the drill, and ended in strong porphyry-style mineralization with the last 21.5m of the hole at 0.93% CuEq (0.62% Cu, 0.41 g/t Au, 0.9 g/t Ag). FSDH055C was collared on the same platform as FSDH041 and drilled to the west at an angle of -70o. The hole deviated to the north, such that at the depth of the Breccia 41 intersection it is 40m northeast of FSDH041.  At 1,380m down hole, it is 80m northwest of the end of hole FSDH054. The hole drilled through strongly altered rhyolite volcaniclastics and microdioritic dykes up to 360m, where the first porphyry veins appear. Intense advanced argillic alteration, with quartz-alunite, residual (vuggy) quartz and silicification are accompanied by disseminated and vein-controlled high sulphidation assemblages (covellite-chalcocite-enargite/tennantite) down to a remarkably sharp transition to a thick sequence of early magmatic-hydrothermal breccias and porphyry bodies at 1,000m. From 1,000m to the end of the hole copper mineralogy changes to chalcopyrite which appears along with potassic alteration. The high-grade Breccia 41 is intersected between 728m and 854m, where it contains some of the highest-grade mineralization drilled on the project to date. The best 2m sample interval returned 32.58% CuEq (13.85% Cu, 6.63 g/t Au, 1580.0 g/t Ag). Other than hole FSDH057 (134m to the north), which also intersected Breccia 41, there are no holes up-dip, down-dip, or to the north, west or east of the intersection in FSDH055C. FSDH059 was collared on section 9300N, 100m north of FSDH041, and drilled at an angle of -70o towards the west to a final depth of 311.5m where it was terminated due to drilling difficulties. The hole ended in mineralization just as it was entering the Silver Zone, manifested by the same rock type as seen in the Silver Zone intersection in hole FSDH055A, 100m to the south. A follow-up hole to test this area will be started shortly. Outlook: Drilling is ongoing with 7 diamond drill rigs, in addition to a reverse circulation (RC) rig, and eight holes are currently underway. Holes are designed to explore the area around the high-grade intersections in FSDH041, FSDH054, FSDH057 and now FSDH055C, along with some moderate step-outs to test continuity of the Aurora Zone, and larger step-out holes to continue to try to find the edges of the mineralized zone. One hole, FSDH060, located 2km northeast of FSDH041, has been completed to a final depth of 1,070m and assays are pending. Results for these holes will be released once the holes are completed, and results are analyzed and confirmed by the Company.


© S&P Capital IQ 2022
All news about FILO MINING CORP.
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Financials
Sales 2022 - - -
Net income 2022 -58,7 M -45,0 M -45,0 M
Net cash 2022 64,4 M 49,3 M 49,3 M
P/E ratio 2022 -36,7x
Yield 2022 -
Capitalization 2 083 M 1 594 M 1 594 M
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 31
Free-Float 65,8%
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Number of Analysts 10
Last Close Price 17,15 CAD
Average target price 27,32 CAD
Spread / Average Target 59,3%
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Managers and Directors
Jamie Beck President
Jeffrey Yip Chief Financial Officer
Adam I. Lundin President, Chief Executive Officer & Director
Alessandro Bitelli Independent Director
Wojtek Alexander Wodzicki Director
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