Allen Sabet

Mogotes Metals' "Best Ever" Drill Results at the Filo Sur Project

• Top takeaway He argues the intercept shows the project sits close to a heat source, with the minerals and alteration expected near porphyry core and good grades over wide intervals.
• He says the breccia intersection with several mineralization phases and different types of copper opens the project wider, and that the company is close to finding a potentially larger system nearby, so he plans to drill aggressively around this hole looking for a repeat.
• He frames the result as evidence against the prevailing speculation that no such system exists at Filo Sur, calling the hole a proof point worth following up.
• He says main investors, geologists and long-standing shareholders contacted him with positive reactions, which he reads as the exploration community seeing a strong start.
• He is explicit that it is early: only the first 194 m of the hole is reported, roughly 3,300 m of program metres are not yet in his possession, and he will decide on follow-up only after the rest of the results are compiled.

Mogotes' CEO calls the first Albor drill hole at Filo Sur the company's best result yet, opening a new zone. The 464-metre hole returned 86 m at 0.7% copper, 0.55 g/t gold, plus silver and molybdenum by-products. Only 194 m of the hole has been assayed, and roughly 3,300 m of the drill program is still unreported. The guest says shallow, wide high-grade intercepts are cheaper to follow up than deep porphyry-style systems. With just over US$40M left, management says the company is funded through next year and into Montana and Kazakhstan.

Mogotes Metals Adds Two New Copper Assets

• Top takeaway His top watch item for the next 90 days is the first Filo Sur assay results from the southern targets, which he says are coming very soon, followed by a pause while the northern holes are processed.
• He argues Mogotes has transformed into a global explorer with tier-1-potential copper-gold porphyries on three continents, fully funded into results, with Filo Sur the priority.
• On Baskaga, he calls the existing NI 43-101 resource — 111 million tonnes indicated at 0.3% copper and 0.49 g/t gold, plus 93 million tonnes inferred — and a 957-meter intercept of 0.58 g/t gold and 0.34% copper from 44 meters world-class, and still open down plunge.
• He believes Baskaga could advance to a PEA or PFS relatively quickly, with over 60,000 meters of historic drilling already done.
• He stresses both new deals were struck cheaply — most consideration is back-ended about three years — letting Mogotes earn in through exploration spending only.

CEO Allen Sabet says Mogotes now holds copper-gold porphyry (large-tonnage deposit style) projects on three continents, letting it drill year-round. Four rigs are running at Filo Sur in the Vicuña District, the company's largest program ever, with first southern-target assays expected very soon. The optioned Beskauga project in Kazakhstan already carries a NI 43-101 resource — an independently reviewed estimate — of 111 million indicated tons at 0.3% copper. Sabet highlights a Beskauga hole of 957 metres at 0.58 g/t gold and 0.34% copper from 44 metres, open down plunge. Rio Tinto's Montana porphyry comes with 32,000 metres drilled — including 1,252 metres grading 0.41 g/t gold and 0.34% copper — earnable through exploration spending alone.