Mogotis Metals Company. (TSXV: Wave; OTCCP: mogmf(FSE: OY4) announced partial laboratory assay results from diamond drill hole FS_DDH_016 at the company’s flagship Filo Sur project, Vicoma region, Argentina, immediately along strike from BHP and Lundin Mining’s Filo del Sol copper, gold and silver discovery.
Tests received for the first 194 meters within the 464-meter-deep hole confirm the presence of a continuous zone starting at a depth of 108 meters near the surface, and high-grade copper, gold, silver and molybdenum mineralization within the chalcopyrite-bearing and bornite-bearing breccias and deposits and dissemination within the altered porphyry matrix. Geologists at Mogotis noted strong similarities to the mineralization characteristics of hole FS_DDH_016 and those reported from the nearby Velo del Sol deposit.
Highlights: 86 meters at 0.7%, 0.55 g/t gold, 2.7 g/t silver, 169 ppm molybdenum from 108 meters to 194 meters downhole to end of tests received to date, including 43 meters at 1.1% copper, 0.82 g/t gold, 4.0 g/t silver, 281 ppm per million molybdenum from 111 m.
The reported interval ends with mineralization. Assays for the remaining 270 meters of the hole are still pending. This interval also includes 10m peak intersections at 1.4% Cu, 1.2 g/t Au, 4.6 g/t Ag and 383 ppm Mo from 133 metres, as well as 5 meters at 1.75% Cu, 1.1 g/t Au, 3.6 g/t Ag and 393 ppm Mo from 146 metres.
The core shows evidence of several stages of mineralization as shown in the nearby Filo del Sol deposit: chalcopyrite-bornite with potassium alteration at the porphyry stage (breccia, stock, spreading and massive anhydrite crystalline pegmatite veins), interpretation of epithelial hypogene enrichment with fine-grained dark copper minerals, including possible covellite/dignite as diffuse overgrowth on the pyrite, characteristic fracture coatings and rich localized veining. Sulphides with enargite, as well as some evidence of ultrageneous copper mineralization with localized fracture beds of malachite, brochantite and possibly chalcocite.
High-grade, shallow copper, gold, silver and molybdenum mineralization: Mineralization begins at a depth of 108 meters downhole, and trenching results along the surface indicate that the mineralization projects to the surface under a thin gravel cover that may also conceal a larger mineralized target.
Generally low levels of arsenic in the Vicuna area: Arsenic levels are typically low (period average 2 ppm) during this mineralized period, with only narrowly defined structures with high arsenic indicating the local presence of the copper-bearing refractory mineral ergite.
A Larger Mineral System in Play: The newly identified Albor target is part of a 3.5 km Miocene (Meseta/Luz del Sol/Comber/Albor) target trend that is consistent with the Machu Muerto Fault Zone regionally. The multi-stage alteration and mineralization features observed in the drill cores indicate an association with a larger copper-gold-silver-molybdenum mineral system.
Albor is the second discovery of copper, gold, silver and molybdenum by Mogotes in the inaugural drilling season at Filo Sur and is part of the large Luz del Sol target lead, where drilling results are awaited for a number of holes drilled in the 2025-2026 exploration season.
Allen Thabet, President and CEO, commented: “In our first fully funded drilling season at Velo Sur, we have now made two significant copper, gold, silver and molybdenum discoveries at Cruz del Sur and at the Albor target, where we have only just scratched the surface of something we believe will be important.
“This partial test release from Albor is the first hole in the shallow, high-grade copper-gold-silver-molybdenum system, which is strategically located adjacent to the large Vicuna deposit, where BHP and Lundin Mining are developing Josemaria copper-gold porphyry and evaluating development options for the very large Filo del Sol deposit.
“Given that this style of mineralization has implications for the broader Vicuna area, we felt it prudent to release the partial results for FS_DDH_016 as received. We remain humbled by the geological endowment of this very special part of the world and grateful for the continued support of our patient contributors. Stay tuned for more.”
The next steps in the remainder of the Velo Sur exercise campaign include laboratory investigations of the 194-464 meter segment of FS_DDH_016, expected by the end of May 2026. The exercise campaign has now officially concluded, with the demobilization of the field camps in Chile and Argentina.
Efforts have been made to drill as much as possible this season, using four rigs and drilling a total of 6,207 metres, of which 2,652 meters have been reported, including this press release.
A total of 3,681 meters of drilling will be reported in the coming months. Drilling in Chile commenced later this season, and drill holes in Argentina will be reported later due to drilling timing and laboratory testing timing.
Mogotes Metals is a mineral exploration company focused on copper, gold and silver in the prospective Vicuna region of Argentina and Chile. The company’s flagship Filo Sur project is adjacent to Lundin Mining’s Filo del Sol – one of the world’s largest copper, gold and silver discoveries – and is located along the same north-south trending belt as NGEx Minerals’ Filo del Sol/Aurora and Lunahuasi and Los Helados copper and gold deposits.
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