Mogotes Metals Drills 180 Metres at 0.98% Copper Equivalent, Expanding the Albor Copper, Gold, Silver & Molybdenum Discovery at Filo Sur

• Final assays for FS_DDH_016 returned 180 metres at 0.98% copper equivalent from a depth of 108 metres, including a higher-grade zone of 58 metres at 1.77% copper equivalent from 111 metres.
• Mineralisation begins at just 108 metres depth and remains open along strike and at depth, with surface channel sampling and a molybdenum-in-soil anomaly measuring approximately 400 by 800 metres pointing to a larger, undrilled system.
• Multiple overlapping hydrothermal events were identified in FS_DDH_016, including potassic-altered porphyry intrusions, quartz stockwork veining, and later epithermal sulfide overgrowths, with potassic alteration intensifying at depth adjacent to an induced polarisation (IP) chargeability high, suggesting a deeper porphyry target.
• The Albor discovery lies within a 10-kilometre trend along the Macho Muerto Fault Zone (MMFZ), which also hosts the newly discovered Cruz del Sur porphyry system, reported by the Company on May 1, 2026.
• Final assays for holes FS_DDH_013 and FS_DDH_015 in Chile are pending; results will be reported upon receipt and validation.

Company Overview

Mogotes Metals Inc. (TSXV: MOG | FSE: OY4, OTCQB: MOGMF) is a mineral exploration company focused on copper, gold and silver in Argentina and Chile's Vicuña district. Its principal asset, the Filo Sur project, adjoins Lundin Mining's Filo del Sol deposit and lies along the same north-south-trending belt as the Filo del Sol-Aurora deposits and NGEx Minerals' Lunahuasi and Los Helados copper and gold projects. 

Albor Discovery Confirmed & Expanded

Mogotes Metals has reported final assay results from hole FS_DDH_016 at its flagship Filo Sur project, located immediately south of and along strike from the Filo del Sol copper, gold, and silver discovery, which BHP and Lundin Mining are advancing. The results confirm and expand the discovery at the Albor target, first announced from this same hole.

FS_DDH_016 returned 180 metres of 0.98% copper equivalent from a depth of 108 metres (0.51% copper, 0.37 g/t gold, 2.8 g/t silver, 119 parts per million (ppm) molybdenum). Within this broader interval, a higher-grade zone returned 58 metres of 1.77% copper equivalent from 111 metres (0.90% copper, 0.70 g/t gold, 3.6 g/t silver, 228 ppm molybdenum). Additional higher-grade intervals within the same hole included 7 metres at 1.01% copper equivalent from 188 metres, 7 metres at 1.29% copper equivalent from 236 metres, and 9 metres at 2.84% copper equivalent from 276 metres.

Copper and gold mineralisation begins at a shallow depth of 108 metres. Surface channel samples collected above and along strike of the drill intercepts returned anomalous copper and molybdenum values. Combined with a molybdenum-in-soil anomaly measuring approximately 400 by 800 metres, the Company considers these results to support the interpretation that the mineralised hydrothermal system extends beyond the current drilling, potentially continuing beneath a thin veneer of scree cover. The limits of the mineralisation intersected in FS_DDH_016 remain untested to the northwest and southeast along the strike of the Macho Muerto Fault Zone (MMFZ), and at depth.

President and Chief Executive Officer of Mogotes Metals, Allen Sabet, commented on the significance of the expanded intercept:

“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. The final assays for FS_DDH_016 have expanded the Albor intercept to 180 metres of high-grade, near-surface copper-gold-silver-molybdenum mineralisation, confirming and extending the discovery we first reported in May. We look forward to sharing the results of the final holes in the Luz del Sol system as they are reported."

Multiple Overlapping Hydrothermal Events

Mogotes geologists observed multiple overlapping hydrothermal events within FS_DDH_016. These include early potassic-altered quartz diorite porphyry intrusions; early-stage quartz stockwork veining containing chalcopyrite; chalcopyrite-bearing magmatic-hydrothermal breccias altered to anhydrite and biotite; later copper-bearing vein generations; and subsequent fine-grained epithermal overgrowths of dark, copper-bearing sulfide minerals, including probable covellite, digenite, bornite, and enargite.

Early potassic alteration is overprinted by silica and quartz-sericite-chlorite, consistent with the telescoping of lithocap and epithermal alteration over deeper potassic alteration. The Company considers these cross-cutting relationships to indicate a long-lived hydrothermal system, which may enhance grades where mineralising phases overlap. Mogotes geologists have observed similarities in geology, alteration styles, sulfide assemblages and mineralisation textures to those described at the adjacent Filo del Sol deposit.

Increasing Potassic Alteration at Depth

In FS_DDH_016, a strand of the Macho Muerto Fault marks the boundary between the mineralised breccias and the quartz diorite porphyry at 287.85 metres, beyond which drilling intersected andesite wall rock that carries less mineralisation but progressively stronger potassic alteration with depth. This trend, located immediately adjacent to an IP chargeability high, Company geologists interpret as a signal of a further, potentially mineralised porphyry target below the current discovery.

Regional Context: The Macho Muerto Trans-Andean Fault 

The mineralisation intersected in FS_DDH_016, including the quartz diorite porphyry dikes and breccias, occurs along the trans-Andean MMFZ. This structure has seen limited historical exploration owing to scree cover, steep terrain and difficult access at altitude. Across Filo Sur, the MMFZ runs for roughly 10 kilometres in total, taking in the Meseta target to the north, the 3-kilometre Luz del Sol to Albor trend, and continuing a further 7 kilometres southeast to the Cruz del Sur porphyry system, which the Company disclosed on May 1, 2026.

With two discoveries now made along this structure this field season, and given the tendency for significant ore bodies to cluster at trans-Andean fault intersections, Mogotes has made the MMFZ a central focus of its exploration planning for the coming season.

Additional Drilling Update

Hole FS_DDH_019 was collared opportunistically ahead of the next season based on encouraging visual indications in FS_DDH_016. Company geologists believe the hole likely crossed the MMFZ at a shallow, oblique angle, and is therefore not considered an adequate test of the mineralised breccias. However, it did return a highlight assay of 14 metres of 0.82% copper equivalent from 48 metres.

Elsewhere, several holes were curtailed before reaching target depth. At the Meseta target, FS_DDH_011 and FS_DDH_012 encountered highly fractured, dense silica and faulting, and rigs were remobilised to prioritise the Luz del Sol targets; Meseta remains untested. At the Camino target, technical issues prevented FS_DDH_009 from reaching its target depth of 1,200 metres to test a primary magnetotelluric (MT) resistivity low, and the hole was weakly mineralised. 

At the Cumbre target, FS_DDH_017 (10 metres depth) and FS_DDH_018 (47 metres depth) were halted early due to forecast winter weather, though both intersected moderate-to-strong silica-clay lithocap-style alteration, keeping Cumbre a priority for the next drill season. A further hole, FS_DDH_014, tested the overlap of MT and IP resistivity lows with an IP chargeability high and encountered argillic to advanced argillic alteration across a thick sequence of andesitic to dacitic pyroclastic rocks, a signature the Company considers consistent with a high-level porphyry lithocap environment overlying the mineralisation seen in FS_DDH_016. Deeper drilling is required to test for porphyry mineralisation at depth. 

Next Steps

Mogotes has outlined the following priorities for its ongoing Filo Sur exploration and drilling program:

• Final assays for drill holes FS_DDH_013 and FS_DDH_015 in Chile are pending and will be reported upon receipt and validation.
• Compilation of the 2025 to 2026 exploration and drilling data is planned.
• Offset drilling at the Albor target will be planned and prioritised to define the extent of the high-grade breccia mineralisation and to test for volumetrically significant porphyry mineralisation.
• Additional 2026 to 2027 exploration and drilling activities across the broader exploration concessions will also be planned and prioritised.

FAQs (AI-generated)