Mogotes Metals outlines anomalies at Filo Sur project
Executive Summary
- Integrated 3‑D IP/MT geophysical modeling of the Filo Sur project identified large‑scale anomalies at Los Mogotes, Meseta and Cuenca, defining high‑priority drill targets for porphyry copper and high‑sulphidation epithermal gold‑silver mineralization.
- The company entered an option agreement to acquire 100 % of the La Perla Uno a Diez mining concessions, requiring payment of US$550,000 and issuance of ~2.0 M common shares over 48 months.
- New investor‑relations service agreements were executed with Torrey Hills Capital, Oak Hill Financial, and Senergy Communications to support market awareness and capital‑raising activities.
Key Details
- Geophysical Anomalies & Targets
- Los Mogotes: ~1,600 m × 800 m low‑resistivity (≤100 Ω·m) MT/IP anomaly, depth 200–500 m, adjacent to BHP/Lundin Filo Del Sol resource; high‑priority porphyry Cu target.
- Meseta: ~1,000 m × 400 m high‑resistivity (2,000–>10,000 Ω·m) MT/IP anomaly, top ≤100 m, interpreted as concealed vuggy silica/quartz‑alunite alteration hosting potential HSE Au‑Ag‑Cu mineralization; rock chip assays up to 1.48 g/t Au and 18.8 g/t Ag (see May 7 2025 release).
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Cuenca: ~1,200 m diameter mushroom‑shaped strong resistivity anomaly with associated phyllic to advanced argillic alteration; rock chip assays up to 0.84 g/t Au and 16.2 g/t Ag.
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Planned Exploration – Field program slated to commence in October 2025 to drill the identified targets, with an emphasis on near‑surface testing (200–500 m depth).
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Option Agreement (July 29 2025)
- Optionor: Ingenieria e Inversiones Cerro Dorado Ltd.
- Subject: Purchase of 100 % of La Perla Uno a Diez mining concessions (Tierra Amarilla, Copiapó, Atacama).
- Consideration: US$550,000 payable over 48 months plus issuance of 2,008,270 common shares at C$0.24 per share, also over 48 months.
- Share lock‑up: Four months plus one day from issuance; resale subject to securities legislation.
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Conditions: Receipt of all regulatory approvals, including TSX Venture Exchange consent.
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Investor Relations Agreements
- Torrey Hills Capital Inc.: Month‑to‑month services at US$7,000/month; termination with 30‑day notice. No equity interest held.
- Oak Hill Financial Inc.: Initial two‑month term starting Aug 1 2025 at US$12,000/month plus taxes; no equity interest held.
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Senergy Communications Capital Inc.: Amended agreement for three‑month media/advertising campaign beginning July 7 2025 at US$33,333/month; includes management fee. Principal holds 62,500 common shares and 31,250 warrants but has no intent to acquire additional interest.
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Regulatory: All agreements subject to TSX Venture Exchange approval.
Notable Quotes
“The 3‑D modelling of our geophysical data has outlined a cluster of new exciting anomalies that together with our surface geochemistry define a series of very attractive targets… Our technical team is driving towards an exploration campaign planned to be kicked off in October.” – Allen Sabet, CEO
All forward‑looking statements are subject to risks and uncertainties detailed in the company’s filings.