Highlights
■ Filo Sur drilling to more than triple: up to 20,000 m in 2026–2027, restarting in November 2026.
■ Both 2025–2026 discoveries lead the program: additional drilling at Albor and Cruz del Sur, follow up porphyry tests at Luz del Sol and first drilling at Cuenca, and reconnaissance along the Macho Muerto Fault Zone (season results).
■ Beskauga drilling ramps up: up to 50,000 m of drilling, first assays expected in Q4 2026 and a preliminary economic assessment (PEA) targeted within 12 months.
■ Copper Cliff ready to drill once permitted: 8,000–9,000 m planned, with the earliest start in November 2026, under the option to joint venture with Kennecott, a Rio Tinto subsidiary.
Beyond the Headline
Mogotes outlines its exploration plans for the next 12 months at its Filo Sur project in Argentina and Chile, its Beskauga project in Kazakhstan and its Copper Cliff project in Montana, USA. plans:
- Filo Sur: up to 20,000m, more than triple last season’s 6,208 m and restarting in November 2026.
- Beskauga: up to 50,000m with first results expected in Q4 2026. A PEA is targeted within 12 months.
- Copper Cliff: 8,000–9,000 m, potentially beginning in November pending permitting, under the Kennecott/Rio Tinto arrangement.
At Filo Sur, drilling will extend the high-grade breccia discovery along strike and at depth at Albor and test the interpreted porphyry interpreted to be beneath it (Figure 5-1). At Cruz del Sur, expansion drilling will test the gold-copper porphyry discovered this year, which remains open in all directions. The first porphyry drilling will be carried at Cuenca, follow up drilling on the new target at Luz del Sol, and completion of the drill tests at Meseta. The MMFZ reconnaissance drilling will continue along the approximately 10 km strike length of the structure within the project, most of which remains undrilled.
At Beskauga in Pavlodar Province, Kazakhstan, the Company has started drilling, and plans to continue drilling up to 50,000 m drilling, with drilling to continue until winter weather sets in. Mogotes expects first assay results from the current program in the fourth quarter of 2026. The Company is targeting a PEA within 12 months, to be followed by a pre-feasibility study. Mogotes holds an option to acquire 100% of Beskauga.
At Copper Cliff in Montana, the Company plans 8,000 to 9,000 m of drilling, with the earliest possible start in November 2026. Permitting is pending and work is ongoing in this regard. Copper Cliff is held under an option to enter a joint venture with Kennecott Exploration Company, a subsidiary of Rio Tinto. Mogotes can earn a 51% interest by funding US$16 million of exploration expenditure over three years.
Comments
The Company’s flagship project is Filo Sur which adjoins Lundin Mining’s Filo del Sol, one of the world’s largest copper-gold-silver discoveries and which lies along the same north-south trending belt as the Filo del Sol–Aurora deposits and NGEx Minerals’ Lunahuasi and Los Helados copper-gold deposits. Drilling at Abor at Filo Sur will be particularly interesting whether the high-grade breccia discovered there is a peripheral shallower expression of a substantial underlying porphyry system. With Rio Tinto’s recent US$15-million strategic investment and much larger planned drilling programs, Mogotes now has several significant potential catalysts.
Figure 5-1
Source: Mogotes Metals
