Mogotes Metals Rock Chip and Trench Channel Assay Extend New Rincon Copper – Gold – Silver Prospect at the Filo Sur Project in the Vicuna District Argentina.
Mogotes Metals Inc
#401, 217 Queen St W
Toronto, ON M5V0R2
Canada
T + 1 (647) 846- 3313
NEWS RELEASE: 31st July 2024
Mogotes Metals Rock Chip and Trench Channel Assay Extend New Rincon Copper – Gold – Silver Prospect at the Filo Sur
Project in the Vicuna District Argentina.
Mogotes Metals Inc. (TSXV:MOG) (“Mogotes”, or the “Company”) is pleased to announce further positive gold-silver-
copper rock chip assay expand the Rincon prospect, at the Filo Sur project adjoining the world class Filo del Sol Cu-
Au-Ag High Sulfidation Epithermal (HSE) and Porphyry (PCD) project in the Filo del Sol, Vicuna District, Argentina
(Figure 1).
• Reconnaissance rock chip and channel samples return assays up to 6m at Au: 1.32 Au and 94.3 g/t Ag from
advanced argillic and vuggy silica high sulfidation epithermal structures
• Trench channel sampling returns anomalous length weighted average assay results of 150m at 0.23 g/t Au,
1.4 g/t Ag, 620 ppm Cu and 461ppm Zn from a zone of high intensity sheeted quartz veinlet zone hosted in
phyllic to propylitic altered quartz diorite stock
• Combined Rincon results outline a 1.1 km long zone with indications of the upper level of a Maricunga style
Au-Cu porphyry with structurally controlled, overprinting high sulfidation epithermal Au-Ag (Cu) mineralization
• Mogotes geophysical anomalies underlying Rincon Au-Ag-Cu-Pb-Zn mineralization define potentially attractive
drill targets for up coming Spring – Summer program planned to commence in October 2024
• The Rincon soil Au-Cu-base metal anomaly remains untested for a further 1.2 km to the south of this seasons
trenching suggesting potential to significantly extend the mineralized trend
CEO, Allen Sabet, stated: “These encouraging results confirm that where we explore in the Filo Sur project using good
science, we are rewarded. This new zone extends a brand new exploration target area for several kilometres north-
south, and we believe that further exploration will create attractive drill targets here. We are keen to get back on the
ground and keep extending this south, east, and west and see what the Rincon area has to offer in our coming field
season.”
NEXT STEPS:
Corporate: Webinar discussion on key target areas
Next steps at the Rincon target -> Spring – Summer (October 2024 to May 2025)
• Extend existing trenches to open up full width of sheeted vein zone
• New trenches to test Au Cu Ag Zn soil anomaly to the south of T2
• Preparation for drilling in Spring – Summer (October 2024 to April 2025)
Rincon Prospect Technical Update
As previously reported (Mogotes News Release 8th July 2024) the Camino and Rincon are newly recognized
prospects identified by Mogotes Metals in 2023, that are define by a 3.9 km long north - south trend of
alteration, Cu-Au-Ag-Mo in soils and rock chips and concealed geophysical anomalies (Figures 2 and 3).
New Rincon Trend assay results (this news release, Table 1) report strongly anomalous Au-Ag-Cu (Zn-Pb) from
outcrop chip and trench channel sampling, confirming that the Rincon rock chip results extend over a 1.1 kms
north-south structurally controlled trend from the previously reported chip channel sampling at road cut 1, to the
current most southerly trench at T2.
The Rincon Au-Cu-Ag-Pb-Zn soil anomaly extends a further 1.2 km to the south of T2, suggesting the trend of
mineralization may be expanded by additional trenching when exploration at the prospects recommences in
spring (October) 2024.
The new rock chip and trench continuous chip-channel assay results from Rincon include (Table 1 and Figure 4),
• T1: A 6 m wide north-south trending, advanced argillic altered shear (figure 4 - D1, D2) exposed in a
gully on the east side of the prospect. The shear hosts localized pyrite – enargite veining and secondary
Cu-Fe sulphate staining. A section of the shear that could be accessed for sampling returned a channel
sample of 1m at 0.53 g/t Au, 17.5 g/t Ag and 861 ppm Cu. A select sample of a pyrite – enargite vein
within the shear (Figure 4 - D3) returned an assay of 0.97 g/t Au, 14.7 g/t Ag and 0.36 % Cu.
• T2: This bulldozer trench exposed a wide zone of high intensity (estimated up to 100 veinlets / m)
sheeted quartz ± sulphide veinlets with localized malachite staining and localized overprinting vuggy
silica zones (Figure 4, B). This mineralization is hosted by a propylitic to phyillic altered quartz diorite
stock. Continuous chip-channel sampling (individual samples of 1.3 to 6.0 m in length) across the
veinlet zone returned a length weighted average intersection of 150 m at 0.23 g/t Au 1.4 g/t Ag and 620
ppm Cu, with peak channel sample of 3 m at 0.63 g/t Au, 0.7 g/t Ag and 660 ppm Cu from 48m along
the trench. The veinlet zone remains open to the east under cover.
• T3: An additional trench was excavated between T1 and T2 but could not be systematically sampled
before the exploration season closed. However, a 6 m wide chip-channel sample was collected on the
eastern edge of the T3 trench, from an advanced argillic altered structure. This sample returned an
assay of 6 m at 1.32 g/t Au, 94.3 g/t Ag and 53 ppm Cu. Sampling of the full zone of sheeted veinlets
and advanced argillic structures exposed in T3 will be a priority for the spring 2024 exploration program.
Additionally, rock chip assays from Road Cut 2 (Figure 3 and 4) located at an altitude of 4800 m ASL show only
weakly anomalous Au-Ag-Cu but strongly anomalous epithermal path finder elements (Sb, As) including Sb up to
481 ppm. While Road Cut 1, T1, T2 and T3 with the strongly anomalous Au-Ag-Cu-Zn reported here, all outcrop
approximately 100 m topographically lower at approximately 4700m ASL suggesting a vector of increasing metal
grade with depth along the trend. These patterns suggest a vector to increasing grades of Au-Ag-Cu to depth,
supporting further exploration of the Rincon Trend.
Initial interpretations of the mineralization styles reported and assay results from the Rincon zone, suggest
current outcrop level at Roadcut 1, T1, T2 and T3, the represents the interface between structurally controlled
roots of an Au-Ag (Cu) bearing advanced argillic lithocap and the upper part of a Maracunga style Au-Cu
porphyry and high lighted the Rincon Trend and the underlying geophysical anomalies as attractive drill targets
for the upcoming October 2024 exploration season.
Table 1: Rincon rock chip and channel Assay Statistics
Sample LocationCount Au ppm Ag ppm Cu ppm Mo ppm Pb ppm Zn ppm As ppm Sb ppm Ba ppm S %
Trench 1 6 0.75 16.1 2231 6 235 1242 445 12 105 10.00
Trench 2 46 0.49 6.3 1760 17 2503 1128 39 5 788 1.96
Vuggy Silica 4 0.86 22.1 90 22 4980 173 230 115 420 1.52
Roadcut 1 81 0.38 1.6 507 66 357 588 136 6 847 2.23
Roadcut 2 48 0.04 2.1 125 5 604 283 106 267 975 3.40
Au ppm Ag ppm Cu ppm Mo ppm Pb ppm Zn ppm As ppm Sb ppm Ba ppm S %
Average 0.28 5.78 938 4 106 703 175 5 362 5.02
Min 0.02 0.23 116 1 29 125 12 1 90 1.72
Max 0.97 17.50 3600 7 283 1915 768 14 580 10.00
Average 0.23 1.37 707 9 280 471 13 1 598 0.37
Min 0.09 0.34 218 2 18 245 4 0 290 0.01
Max 0.63 10.45 3340 18 5290 1435 52 6 900 2.45
Average 0.54 9.23 59 16 1405 68 177 37 325 1.46
Min 0.29 2.76 45 8 57 26 142 6 250 1.34
Max 0.86 22.10 90 22 4980 173 230 115 420 1.52
Average 0.11 0.56 231 16 68 198 56 3 560 0.95
Min 0.03 0.25 100 2 10 36 6 3 290 0.08
Max 1.35 3.30 825 142 724 1380 155 7 890 2.77
Average 0.01 0.31 19 1 103 56 17 48 169 0.62
Min 0.00 0.25 7 1 8 8 12 5 310 0.16
Max 0.06 3.60 207 8 965 377 130 481 1020 4.29
Roadcut 2
n: 48
Trench 1
n: 6
Average of Top 10% Camino - Rincon Rockchip Sampling
Trench 2
n: 46
Basic Population Statistics
Vuggy Silica
n: 4
Roadcut 1
n: 81
About Mogotes Metals Inc.
Mogotes Metals Inc. is a mineral exploration company exploring for copper and gold in the prospective Vicuña district
of Argentina and Chile. Mogotes flagship project, Filo Sur, adjoins the Filo Mining project directly on strike for the
large Filo del Sol Copper-gold-silver discovery, and in the same belt as the NGEx Minerals Lunahuasi and Los Helados
copper-gold deposits.
For further information, please contact:
Mogotes Metals Inc.
Allen Sabet, President and Chief Executive Officer
Phone: (647) 846-3313
Email: [email protected]
Additional Information
The information contained in this news release was accurate at the time of dissemination, but may be superseded by
subsequent news release(s). The Company is under no obligation, nor does it intend to update or revise the forward-
looking information, whether as a result of new information, future events or otherwise.
Qualified Persons
The scientific and technical disclosure for the Filo Sur project included in this news release have been reviewed and
approved by Stephen Nano who is the Qualified Person as defined by NI 43-101. Mr. Nano is a Director and Technical
Advisor for the Company.
Mogotes applies industry standard exploration sampling methodologies and techniques. All geochemical soil, stream,
rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry
practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC)
program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Argentina for analysis. Assay results
from drill core samples may be higher, lower or similar to results obtained from surface rock, channel, trench samples
due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary
mineralization.
Drill holes feature varying diameters as they progress in depth. They begin with a PQ3 drill bit (up to ~300 m), then
reduce to HQ3 (up to ~670 m), and finally reach NQ3 diameter (up to ~1200 m) at the deepest drill hole. The drill
cores were extracted and placed in core boxes with accurate depth markings by Foraco drilling company's rigs, all
under the supervision of Mogotes Metals Inc. The core boxes were carefully transported by Mogotes Metals Inc. staff
to the field camp. The drill core processing at the field camp was as follows: general control, photographic record
using IMAGO, recovery and RQD determinations, and geological quick log. The drill core boxes were also adequately
packaged and secured for transport to San Juan core shed. Shipments from the camp to the San Juan facility were
transported using trucks designated exclusively for that purpose.
At the core shed in San Juan the drill core processing was as follows: general control, check of recovery and RQD,
additional geotechnical studies, determination of apparent density, sampling delimitation, drill core cutting, sampling
and weighing of samples, half core photographic record using IMAGO, and detailed geological logging. All this
information is managed using MX Deposit. The remaining half cores are secure stored in racks at the same core shed.
The drill cores were sampled in 2- and 1-meter intervals depending on the drill hole diameter (1 meter for PQ3 and 2
meters for HQ3 and NQ3) using a diamond or a hydraulic rock saw chosen based on visible mineralization. A unique
reference number was assigned to each sample. The samples were placed in duly identified plastic bags ensuring that
each interval to be sampled was correct and that the same half core was always sampled.