Mogotes Metals drills 86 metres of 0.7% copper at Filo Sur Project, Argentina

Mogotes Metals Inc. [TSXV: MOG; OTCQB: MOGMF: FSE: OY4] reported partial laboratory assay results from diamond drill hole FS_DDH_016 at the company’s flagship Filo Sur Project, Vicuma District, Argentina, immediately along strike from BHP and Lundin Mining’s Filo del Sol copper-gold-silver discovery.

Assays received for the first 194 metres within the 464-metre-deep hole confirm a continuous zone starting from 108 metres depth of near surface, high-grade copper-gold-silver-molybdenum mineralization within chalcopyrite-bornite-covellite-bearing breccias, stockwork and dissemination within the altered porphyry matrix. Mogotes geologists have noted strong parallels with the characteristics of mineralization in hole FS_DDH_016 and those reported from the nearby Filo del Sol deposit.

Highlights: 86 metres at 0.7%, 0.55 g/t gold, 2.7 g/t silver and 169 parts per million molybdenum from 108 m to 194 m downhole to end of assays received to date, including 43 metres at 1.1% Cu, 0.82 g/t Au, 4.0 g/t Ag and 281 ppm Mo from 111 metres.

Reported interval ends in mineralization. Assays for the remaining 270 metres of the hole are pending. This interval also includes peak intercepts of 10 metres at 1.4% Cu, 1.2 g/t Au, 4.6 g/t Ag and 383 ppm Mo from 133 metresas well as 5 metres at 1.75% Cu, 1.1 g/t Au, 3.6 g/t Ag and 393 ppm Mo from 146 metes.

Core shows evidence of several stages of mineralization as is seen in the nearby Filo del Sol deposit: chalcopyrite-bornite with porphyry-stage potassic alteration (breccias, stockwork, dissemination and anhydrite megacryst pegmatite veins), interpreted hypogene epithermal enrichment with fine-grained dark copper minerals, including probable covellite/digenite as disseminated overgrowths on pyrite and distinctive fracture coatings and localized sulphide-rich veins with enargite, as well as some evidence of supergene copper mineralization with localized fracture coat malachite, brochantite and probable chalcocite.

Shallow high-grade copper, gold, silver and molybdenum mineralization: mineralization starts at 108 metres downhole, and trenching results along strike at surface indicate that mineralization projects to surface beneath a thin scree cover that may also be concealing a larger mineralized target.

Generally low levels of arsenic for the Vicuna district: arsenic levels are typically low (median for this interval is two ppm As) within this mineralized interval, with only specific narrow structures with elevated arsenic indicating the local presence of the copper-bearing epithermal mineral enargite.

Larger mineral system at play: the newly identified Albor target is part of a 3.5-km-long Mogotes (Meseta/Luz del Sol/Cumbre/Albor) Miocene-age target trend aligned within the regional-scale, transorogen Macho Muerto fault zone. Observed multistage alteration and mineralization features in the drill core suggest association with a larger copper-gold-silver-molybdenum mineral system.

Albor is the second copper-gold-silver-molybdenum discovery by Mogotes in its inaugural drilling season at Filo Sur and is part of the large Luz del Sol target trend, where drill results are pending for a number of holes drilled in the 2025-2026 exploration season.

Allen Sabet, president and CEO, commented: “In our first fully funded drill season at Filo Sur, we have now made two significant copper-gold-silver-molybdenum discoveries at Cruz del Sur and at the Albor target, where we have just scratched the surface of something we believe will be significant.

“This partial assay release from Albor is a first hole into a shallow and high-grade copper-gold-silver-molybdenum system, strategically located adjacent to the large Vicuna district deposits, where BHP and Lundin Mining are developing the Josemaria copper-gold porphyry and evaluating development options for the very large Filo del Sol deposit.

“As this style of mineralization has implications for the broader Vicuna district, we felt it prudent to release partial results for FS_DDH_016 as received. We continue to be humbled by the geological endowment of this very special part of the world and are grateful for the continued support of our patient shareholders. Stay tuned for more.”

Next steps on rest of Filo Sur drill campaign include lab assays for the 194-to-464-metre portion of FS_DDH_016 are expected by end of May, 2026. The drill campaign has now formally ended, with both Chile and Argentina field camps demobilized.

Efforts were made to drill as much as possible this season, using four rigs and drilling a total of 6,207 metres of which 2,652 metres have been reported on, including in this press release.

A total of 3,681 metres of drilling will be reported on in the coming months. Chile drill holes started later in the season and will be reported later than the Argentina drill holes due to timing of drilling and laboratory assay timing.

Mogotes Metals is a mineral exploration company focused on copper, gold and silver in the prospective Vicuna district of Argentina and Chile. The company’s flagship Filo Sur project adjoins Lundin Mining’s Filo del Sol – one of the world’s largest copper-gold-silver discoveries – and lies along the same north-south-trending belt as the Filo del Sol/Aurora deposits and NGEx Minerals’ Lunahuasi and Los Helados copper-gold deposits.