A shallow drill hole at the Filo Sur project in Argentina has delivered grades that put Mogotes Metals firmly on the radar of copper investors. The company’s discovery hole, FS_DDH_016, intersected 86 metres averaging 0.7% copper, 0.55 grams per tonne gold and 2.7 g/t silver, with molybdenum credits of 169 ppm. More striking is a 43-metre high-grade core within that zone, where copper jumps to 1.1%, gold to 0.82 g/t and silver to 4.0 g/t, and molybdenum reaches 281 ppm — all from a starting depth of just 108 metres.
The intersection sits within a 3.5-kilometre target trend that Mogotes is currently drilling in Argentina’s Vicuña district. The proximity to the Filo del Sol deposit — a giant joint venture between Lundin Mining and BHP that hosts an estimated 13 million tonnes of copper and 32 million ounces of gold — provides a formidable geological benchmark. Mogotes is using those neighbouring resource models to refine its own exploration approach.
This is the second major hit of the current drilling season. The company has completed 6,207 metres of drilling to date, with assays returned for roughly 2,650 metres. The remaining 2,650 metres of core await laboratory results, including the deep section of hole FS_DDH_016 between 194 and 464 metres. That lower interval, representing about 270 metres, will define whether the mineralisation extends at depth.
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The copper price is lending support to the story, with the red metal trading near US$14,000 per tonne — a level that makes even early-stage exploration economically attractive. On the TSX Venture Exchange, Mogotes shares closed at C$0.57 on volume exceeding five million shares, a sign of renewed investor attention.
The company also enters this drilling phase with a solid financial footing. In January 2026, it completed a bought-deal financing worth C$11.5 million. That was followed in April 2026 by a strategic option agreement with Rio Tinto covering a copper-porphyry project in the United States, providing additional optionality and industry validation.
With assays still pending for more than half the metres drilled this season, the next set of results from Filo Sur will be closely watched. They will either confirm that the intersection continues deep underground — or leave the comparison with its world-class neighbour hanging.
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