Mogotes Closes Season at Filo Sur with New Porphyry Targets at Luz del Sol and Cuenca; Plans 20,000 m of Drilling for 2026-2027
Mogotes expands its porphyry target pipeline with new sub-economic assays from its season wrap.
Mogotes Metals Inc. (MOG) released a wrap-up of its 2025-2026 Filo Sur field season, which did not yield new high-grade discovery intercepts. The update recapped two existing discoveries on the Macho Muerto Fault Zone: Albor, where FS_DDH_016 returned 180 m at 0.98% CuEq, and Cruz del Sur, where FS_DDH_006 returned 308 m at 0.46% CuEq and 334 m at 0.45% CuEq.
New data from the Luz del Sol target included FS_DDH_013 returning 18 m at 0.21% Cu from 216 m, and FS_DDH_015 returning 24 m at 0.16% Cu from 179 m and 20.5 m at 0.15% Cu from 218.5 m. The release noted these grades are not economic and are interpreted as vectors to a porphyry source.
At the Cuenca target, road-cut channel samples returned 153 m averaging 0.31 g/t Au and 0.11% Cu, including 54 m at 0.46 g/t Au and 0.14% Cu. Road Cut 2 returned 123.4 m at 0.32 g/t Au and 0.05% Cu, while Road Cut 3 returned 61.7 m at 0.19 g/t Au and 0.04% Cu.
The company plans a 2026-2027 program of 20,000 m, an increase from the 6,208 m completed in the 2025-2026 season. The remainder of the release covered target generation, geophysical interpretation, and details of the forward program.
Mogotes Metals Inc. (MOG) released a seasonal update that expands its exploration targets but does not deliver new economic intercepts. The company’s two recent discoveries were already known and have not been materially upgraded by this release. New work at the Luz del Sol target is considered sub-economic, while the Cuenca target remains limited to surface sampling. The company has outlined a 20,000-meter drill plan, which represents a forward statement rather than a completed result.
The market has already repriced the stock from approximately $0.17 in early May 2026 to the mid-$0.50s following the Albor discovery and the strategic alliance with Rio Tinto. This valuation reflects two discoveries, management credibility derived from the Rio Tinto partnership, and a substantial follow-on program.
The new drilling at Luz del Sol did not produce a disappointing miss, as it was not an economic drill test at this stage but rather a vector hole.
Mogotes Metals Inc. (MOG) is a pre-revenue junior explorer focused on copper, gold, and silver in the Vicuña district of Argentina and Chile. Its flagship Filo Sur project adjoins Lundin Mining’s Filo del Sol deposit and contains the Albor and Cruz del Sur discoveries on the Macho Muerto Fault Zone.
The company’s other assets and agreements include: - The Beskauga copper-gold-silver porphyry project in Kazakhstan, held under an option to acquire 100%, with a 2022 NI 43-101 resource of 203.8 Mt containing 1.8 moz gold and 333.6 kt copper in indicated resources, plus inferred resources. - The Copper Cliff gold-copper porphyry option in Montana, USA, held with Kennecott Exploration, a Rio Tinto subsidiary. - La Perla concessions in Chile. - A Rio Tinto strategic investment and technical alliance announced in July 2026, giving Rio Tinto an initial ~5% stake, a 15-month exclusivity period, and top-up/pre-emptive rights. - CD Capital as a major shareholder with pre-emptive and board nomination rights.
According to the latest MD&A as of May 31, 2026, the company held $43.8 million in cash and $41.3 million in working capital, with no reported debt. The company has a going-concern flag because it is pre-revenue and will require continued equity financing.