Mogotes Metals (TSXV:MOG) - Drilling Filo Del Sol Trend - Results in May & June

Why It Matters

The dual‑project strategy diversifies Mogotes' exposure, pairing a high‑potential Andes target with a low‑cost, year‑round Kazakh asset, which could accelerate value creation and attract capital in a competitive junior mining market.

Key Takeaways

• 3,000 metres drilled, 6,000‑8,000 m target.
• C$20 M summer budget from C$55 M treasury.
• Filo Sur sits on same belt as Filo del Sol.
• Kazakhstan asset offers year‑round drilling at $80/meter.
• Results due May‑June 2026, driving near‑term news flow.

Pulse Analysis

Mogotes Metals is leveraging a three‑year, C$25 million data‑building effort across its Filo Sur corridor, a structural belt that already hosts the world‑class Filo del Sol copper discovery. By integrating extensive geochemical, geophysical and geological datasets, the company has identified high‑chargeability, low‑resistivity anomalies that mirror the signatures of earlier successful drill holes. This scientific continuity reduces geological risk and positions Filo Sur as a logical extension of a proven mineralised system, a narrative that resonates with investors seeking credible upside in the Andes copper belt.

The current summer drilling campaign, budgeted at C$20 million, aims to intersect 6,000‑8,000 metres of target material, with half the program already completed. Funding comes from a robust C$55 million treasury, bolstered by strategic backers CD Capital—renowned for its 15‑fold return on Filo del Sol—and the Braun family, which brings regional expertise. Parallel to the Andean effort, Mogotes has secured an option on a Kazakh copper‑gold porphyry featuring a historic 4.5 million gold‑equivalent ounce resource. At an estimated US$80 per metre, drilling costs are a fraction of Andean averages, enabling year‑round exploration and a steady pipeline of news releases when Andean operations pause for winter.

For the market, this twin‑track approach offers a hedge against the seasonal constraints of high‑altitude drilling while amplifying upside potential. The imminent May‑June 2026 drill results will be a litmus test for the multi‑year dataset, and positive outcomes could catalyse a re‑rating of the company’s valuation. Meanwhile, the Kazakhstan project provides a continuous development narrative, appealing to institutional investors who value diversified exposure and disciplined capital deployment. Together, these initiatives underscore Mogotes' strategic positioning to transition from an exploration play to a multi‑asset growth platform.

Original Description

Interview with Allen Sabet, CEO of Mogotes Metals Inc.

Our previous interview: https://www.cruxinvestor.com/posts/mogotes-metals-tsxvmog-26m-treasury-funds-drilling-in-one-of-worlds-largest-copper-discoveries-7941

Recording date: 4th March 2026

Mogotes Metals entered 2026 as an exploration company ready to drill. After three years and approximately C$25 million spent building geochemical, geophysical, and geological datasets across its Filo Sur project in Argentina's Vicuña district, the company now has three rigs operating along the same structural corridor that hosts Filo del Sol — the deposit that its joint venture owners describe as the largest copper discovery in 30 years.

The drilling programme targets 6,000–8,000 metres this austral summer season across multiple ranked and permitted targets, with approximately 3,000 metres already completed. The season budget is approximately C$20 million, funded from a C$55 million treasury. That treasury was built with the participation of two strategically significant investors: CD Capital, a London-based fund that previously made approximately 15 times its money investing in Filo del Sol, and the Braun family of Argentina, a family office with direct regional knowledge. CD Capital's Carmel Daniele has joined the Mogotes board — the same role she held at Filo del Sol.

The geological case rests on the north-south structural belt that connects Filo del Sol, Altar, Valeriano, and now Filo Sur. Mogotes holds the full strike projection of Filo del Sol's known mineralisation. The geophysical programme identified multiple high-chargeability, low-resistivity anomalies consistent with the subsurface signatures that defined the early drilling success at Filo del Sol and Valeriano. These are the targets now being drilled. CEO Alan Sabet has been measured in framing expectations — proximity to a tier-one discovery does not guarantee replication — but the technical approach mirrors the methodology that worked at comparable deposits across the Andes.

The company's second announcement at PDAC 2026 was the option agreement on a copper-gold asset in Kazakhstan. The asset hosts an historic resource of approximately 4.5 million gold-equivalent ounces, with mineralisation beginning at approximately 40 metres depth and remaining open at depth and laterally. Drilling costs run at approximately US$80 per metre — a fraction of typical Andean costs — and the permitting environment supports a mining licence application within six months.

For Mogotes, the strategic logic is clear. Filo Sur is a seasonal operation confined to the austral summer. Kazakhstan can be drilled year-round and provides continuous news flow during the months when Andean operations are dormant. It also provides a second value creation pathway: integrating existing unincorporated drilling data into a new resource estimate, step-out and depth drilling, and testing a separate porphyry target with potential high-grade gold.

For investors, the near-term calendar is defined. Filo Sur drill results are expected in May and June 2026, representing the first direct geological test of the project's multi-year dataset. Kazakhstan work will begin in parallel, providing additional news flow through the second half of the year. The company enters this period with a well-funded treasury, institutional validation from directly comparable capital, and a disciplined deployment plan that preserves follow-up capacity regardless of what the first drill holes return.

View Mogotes Metals' company profile: https://www.cruxinvestor.com/companies/mogotes-metals

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