Argentina's Mogotes Metals Plans 20,000 Meters of Drilling at Filo Sur in 2026–2027

en.Wedoany.com Reported - Mogotes Metals has announced the final results of the 2025–2026 exploration season at the Filo Sur copper-gold-silver project and plans to carry out up to 20,000 meters of drilling in the 2026–2027 exploration season, more than tripling the 6,208 meters completed in the previous season. The new drilling campaign will focus on extending the two already discovered mineralized systems, Albor and Cruz del Sur, and will test the Luz del Sol, Cuenca, and Meseta porphyry targets for the first time.

The 2025–2026 exploration season yielded two major discoveries along the Macho Muerto fault zone. At the Albor target, hole FS_DDH_016 intersected 180 meters of mineralization from 108 meters, with a copper equivalent grade of 0.98%, including 58 meters at a copper equivalent grade of 1.77%; at the Cruz del Sur target, hole FS_DDH_006 returned mineralized intervals of 308 meters at a copper equivalent grade of 0.46% and 334 meters at a copper equivalent grade of 0.45%, respectively. Mineralization at both targets has not yet been fully delineated.

At the Cuenca target, this round of trenching expanded the porphyry target area to approximately 1.3 kilometers by 0.5 kilometers. One set of road trenches returned a mineralized interval of 153 meters grading 0.31 g/t gold and 0.11% copper within a cumulative sampling length of 297 meters, including a 54-meter section grading 0.46 g/t gold and 0.14% copper. At the Luz del Sol target, holes FS_DDH_013 and FS_DDH_015 passed through leached and altered breccia and anomalous copper mineralization, beneath which stronger induced polarization chargeability anomalies correspond; the company plans to continue deeper testing in the next exploration season.

Mogotes Metals completed a US$15 million strategic investment from Rio Tinto Canada on August 27. Rio Tinto subscribed for 30,387,857 securities units at C$0.70 per unit, for a total investment of approximately C$21,271,500, acquiring an initial interest of approximately 5% in Mogotes. The two parties also established the Filo Sur strategic and technical alliance, under which Rio Tinto obtained a 15-month exclusive period for the project, extendable by a further 6 months with mutual consent. The proceeds will be used for follow-up exploration at Filo Sur.

The two parties have established a joint technical committee and plan to apply geochemical, geophysical, and target identification technologies at Filo Sur. Mogotes disclosed that the 20,000-meter drilling program for 2026–2027 is expected to require approximately C$40 million, and the company currently has a cash balance of approximately C$75 million.

Filo Sur is located in the Vicuña metallogenic belt along the border between Argentina and Chile, with the project's main exploration area extending along the Macho Muerto fault zone. The current 20,000-meter program will concurrently conduct extension drilling at Albor and Cruz del Sur, as well as first-time or follow-up deeper testing at Luz del Sol, Cuenca, and Meseta.