It just won't be Silent Hills

"I love working with Kojima-san. We are still in touch. We are still friends and working into doing something together, but that's not going to be [Silent Hills]," director Guillermo del Toro said in an interview with IGN.

Del Toro also dropped some details about what the duo had in mind for the now-cancelled Silent Hills, stating they were still in the planning stages and wanted to "really [push] the boundaries of the new consoles." Consoles (plural), which indicates that Silent Hills was perhaps planned for more than just the PlayStation 4.

Silent Hills' Kojima, Del Toro Still Plan to Work on New Project [IGN]