This trend points to next monster copper discovery

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The Next Pearl On The String?

World-class deposits pop up like pearls on a string along the Vicuña copper-gold belt between Chile and Argentina.

Now, with a timely property acquisition, Mogotes Metals (MOG.V) has locked up the southern portion of the belt...and bets are being placed that this could turn up the world’s next monster copper deposit.

C$4.5 billion.

That’s how much BHP and Lundin Mining just paid to acquire Filo Corp. and its Filo del Sol project in the Vicuña district that straddles the border between Chile and Argentina.

That purchase price translated into a 17-fold gain for investors who acted on Gold Newsletter’s early recommendation for Filo.

But if you weren’t one of those investors, a potential second bite at the apple is developing to the south of Filo del Sol.

Because that’s where Mogotes Metals (MOG.V) recently added a Chilean portion to the Filo Sur project it already owned on the Argentina side.

That “close-ology” might be enough for many speculators, but smart investors are now realizing that geology is pointing the way for Mogotes: Extensive surface and geophysical work has revealed that Filo Sur hosts several targets that could contain not only major copper-gold porphyry discoveries, but also high-sulphidation epithermal deposits.
 

With a key property on the Chilean side just added and its option on the Argentine side upped to a 100% ownership opportunity, Mogotes Metals is well positioned to join Filo del Sol and NGEx Minerals’ Lunahuasi and Los Helados discoveries as the next pearl on the Vicuña district’s string.

Vicuña:
Home To Three
World-Class Deposits

All three of those deposits come from rocks of the same Miocene geological age, and Mogotes’ Filo Sur project lies directly along the same belt.

According to a January 2023 resource update for Filo del Sol, the project hosts an eye-popping indicated resource of 3.2 billion pounds of copper, 4.6 million ounces of gold and 160.4 million ounces of silver. Its inferred resource contains another 1.3 billion pounds of copper, 2.1 million ounces of gold and 50.3 million ounces of silver.

And subsequent drilling has shown that Filo del Sol can grow larger still, setting the deposit up as the kind of Tier 1 copper-gold-silver deposit that would naturally draw the attention of BHP and Lundin Mining.

Click image to enlarge

Mogotes Metals’ Filo Sur project is next in line on trend with three copper-gold discoveries in the Vicuña district.

That C$4.5 billion acquisition sets Filo del Sol on a course to be a major new mine. Alongside the Lunahuasi and Los Helados deposits that give NGex Minerals a C$2.4 billion market cap, this project makes the Vicuña district one of the hottest districts on the planet for major copper-gold discoveries.

Chile Acquisitions Add More
Exploration Potential For Filo Sur

In keeping with its high hopes for Filo Sur, last month Mogotes Metals added 1,303 hectares of land claims on the Chilean side of the border from the company’s Argentina holdings.

Here’s why this is so important: The new property addition is along the direct strike projection of the Filo del Sol trend...
 

...And just recently, Filo announced results for Hole 116 — 610.0 meters of 0.39 g/t gold, 0.15% copper, and 2.2 g/t silver — just 1,200 meters north of the boundary with Mogote’s new claims.

Click image to enlarge

Filo Sur’s new Chilean claims cover extensions of its highly prospective Meseta and Cumbre targets.

The new claims secure extensions of Filo Sur’s Meseta and Cumbre copper-gold targets, on which exploration had been delayed pending these acquisitions. Given the highly prospective nature of the Vicuña district, Mogotes didn’t want to tip its hand and drive up the acquisition price of this consolidation unnecessarily.

Now, however, the starting gun has fired.

Exploration Begins In Earnest

With the 10,000-hectare land package at Filo Sur now secured, Mogotes Metals has begun to explore the Chilean portion of that package with first-pass field mapping.

Initial observations of these Chilean claims indicate they contain an Advanced Argillic (“AA”) style that is consistent with high-sulphidation epithermal mineralization.

Mogotes will need to conduct lab tests on this AA alteration to determine if it is mineralized. However, the company’s geologists are encouraged by hydrothermal breccia and vuggy silica on the Argentine side of Filo Sur that returned rock chip assays as high as 1.48 g/t gold and 3.6 g/t silver.
 

Mogotes has already outlined nine large-scale high-sulphidation epithermal and copper porphyry targets on the Argentine side of the project.

Time To Act...

As of market close Feb. 24, 2025, Mogotes Metals currently sports a mere C$33 million market cap — a valuation not too dissimilar from Filo Corp.’s before it made its major discovery on Filo del Sol’s Aurora target.
 

By virtue of its land position alone Mogotes could be considered a takeout target by BHP and Lundin as they move Filo del Sol along the development curve.

...But if Mogotes should prove up a “Filo del Sol” of its own at Filo Sur, it’s obvious that a billion-dollar valuation would be well within the realm of possibility.

With Filo Sur’s new Chilean claims getting plied with extensive surface work right now...and with no less than nine targets already outlined on the Argentine side of the project...the time is now to begin doing your homework on Mogotes Metals.

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