Mediterranean Oil & Gas Share Discussion Threads

[stu31] 18/12/2024 17:15

Vicuña Exploration Update: Field season underway at the Filo Sur project in the prolific Vicuna Copper Gold Silver District


December 17th 2024 – Mogotes Metals Inc. (TSXV: MOG, FSE:AY4) (“Mogotes̶1;, or the “Company”;) updates on field activities at the Filo Sur project in the Vicuña Copper Gold Silver district.

CEO, Allen Sabet, stated: “Our geology teams are on the ground, and rapidly advancing our 2024/25 exploration program. The program consists of several hundred meters of trenches, rock chip sampling and mapping at the priority targets of Cruz del Sur, Rincon, Camino, Meseta and Filon Alunita (Figure 1). Further new exposures at Frontera and Colorida are also being mapped and sampled.

Further updates from this program are expected in January and February 2025. The results will be used to vector and optimise drill hole design for each of these exploration targets.

We also note with interest the results from the adjoining Filo Del Sol project[1] which identified a new gold rich porphyry target located approximately 1.2 km from Mogotes property boundary.

This news supports the Companies view that the Vicuña belt of mineralisation is open to the south of the current Filo resource and trends into Mogotes Filo Sur project (Figure 2). In the Companies view this strengthens the conceptual target being outlined at our Meseta prospect, where we are working to firm up the target and identify best location(s) for drilling.”



Stage 1 program well advanced

Mogotes has successfully integrated, remodeled and analyzed the significant cache of historic Filo Sur Geophysics data, (see news release September 9, 2024), with the Companies proprietary datasets. This has contributed to a significant change in the understanding of many of the Filo Sur targets. A focused field program has been designed and is currently well underway that tests key questions at each target area.

The program seeks to firm up geological data to assist with the best placement of drill holes for the subsequent drilling campaign.

The field program was initiated in November and is rapidly advancing with hundreds of meters of trenches created and sampled, and additional areas of interest evaluated by reconnaissance sampling teams. Photographs below show the work underway.

Stage 1 program will continue into February 2025, with first assay results are anticipated to be received at this time. Results will be analyzed, and feed into the subsequent exploration program and drill targeting during this field season.

Filo del Sol FSDH116 hits a new gold target

Jamie Beck, CEO of neighbouring company Filo, said the following regarding recent drill hole FSDH116, which is located proximal to the Mogotes property boundary1 (emphasis added by Mogotes Metals):

“we have confirmed a gold-rich porphyry in hole 116 in the Tamberias area, further expanding the footprint of the overall deposit. We have now drilled continuous mineralization over 5.5 kilometres between holes 116 in the south and 114 in the north, with hole 107 expanding the width, and still the deposit is open in all directions.” 1

This new porphyry discovery is elaborated further in the press release:

“FSDH116 was drilled in the Tamberias Zone, well south of Aurora and Bonita, to follow up on a north westerly-trending zone of auriferous sheeted veins exposed in surface trenching. Four trenches along a strike length of almost 700m returned 230m at 0.36 g/t Au, 470m at 0.32 g/t Au, 227m at 0.45 g/t Au and 90m at 0.35 g/t Au. The hole intersected two sheeted vein zones including 58.0m at 0.92 g/t Au and 24.2m at 0.88 g/t Au confirming the continuation to depth of the surface mineralization. Overall, the hole intersected a 610.0m section with an elevated gold:copper ratio (0.39 g/t Au and 0.15% Cu) compared to mineralization to the north.” 1

Mogotes Metals is encouraged by this hole, which would rank among the highest-grade holes in the south of the Filo del Sol and confirms that the North – South oriented Vicuna trend of Cu Au Ag mineralization remains open to the south projecting into the Filo Sur project and encompassing the Mogotes Meseta target.

The Meseta Target is a key focus for the current field campaign, where previous Mogotes exploration has outlined high sulfidation style quartz- alunite altered breccias and vuggy silica structures returning rock chip samples of up to 1.48 g/t Au and 4.6 g/t Ag, overlying a large concealed high order geophysical anomaly (see news release July 8th 2024). The Meseta Target will be the subject of a future news release.

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 large Filo del Sol Copper-gold-silver discovery, and is along the same N-S trending belt as the Filo Del Sol – Aurora and NGEx Minerals Lunahuasi and Los Helados copper-gold deposits.

[stu31] 29/9/2024 17:42

Mogotes Metals announces closing of second and final tranche of private placement of units

Mogotes Metals Inc. (TSXV: MOG, FSE: OY4) (“Mogotes̶1;, or the “Company”;) is pleased to announce that the Company has closed the second and final tranche of its non-brokered private placement through the issuance of 6,621,430 units at a price of $0.14 per Unit for aggregate gross proceeds of $927,000.20. The aggregate gross proceeds raised in connection first and second tranches of the Offering was $3,500,000 through the issuance of an aggregate of 25,000,000 Units.

The proceeds from the sale of the Units will be used for funding its exploration work programs and development of the Company’s Filo Sur property.

The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

[stu31] 13/9/2024 19:19

Windfall of historic geophysical data advances exploration and targeting at the Filo Sur project in the Vicuña District Argentina.

September 9, 2024: Mogotes Metals Inc. (TSXV: MOG, FSE: OY4) (“Mogotes̶1;, or the “Company”;) reports on the receipt and initial interpretation of previously unreported large IP and ground magnetic datasets over the Filo Sur Project, adjoining the world class Filo del Sol Cu-Au-Ag project in the prolific Vicuña district, Argentina.

CEO, Allen Sabet, stated: “In our process of working systematically through the datasets at the Filo Sur project we reached out to historic operators at the project to go back through the archives and try to recover valuable Geophysical data and reports.

In this process they were able to recover data that was long lost, including extensive ground magnetic data circa 2012, and DCIP geophysical line data (2004 and 2012) that was previously unavailable.

This is an incredible find and opportunity for Mogotes. It increases our surface ground magnetic data coverage by 88%, and our ground magnetic coverage and surface DCIP lines from 20km to 66km.

The cost of such a program today would be approximately C$0.9m, and importantly the data
will save significant time and help advance the exploration work faster.

Integrating this with our Mogotes acquired 2023 datasets has recently completed and highlighted
numerous new targets as well as support and refine the existing targets of the company.”

[stu31] 04/9/2024 23:27

Strategic mining investor subscribes for private placement
September 4, 2024
Mogotes Metals Inc. (TSXV: MOG, FSE: OY4) (“Mogotes̶1;, or the “Company”;) is pleased to announce a non-brokered private placement through the issuance of up to 17,857,142 units (each, a “Unit”) at a price of $0.14 per Unit for aggregate gross proceeds of up to $2,500,000 (the “Offering̶1;). View Pdf

Each Unit shall be comprised of one common share (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”;). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.30 per Common Share until January 31, 2027.

CEO, Allen Sabet, commented: “We are pleased to welcome a strategic investor to participate in the Offering. The strategic investor, a mining company with operations in South America, will be a valuable long-term ally in our quest for a discovery. Their participation in the Offering speaks to the potential of our exploration targets and the scientific approach the Company has taken in exploration to date. We are excited to move forward together!”

All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The gross proceeds from the sale of the Units will be used for funding its exploration work programs and development of the Company’s Filo Sur property.

The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

[stu31] 31/7/2024 23:23

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.
July 31, 2024
Mogotes Metals Inc. (TSXV:MOG) (“Mogotes̶1;, 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). View Pdf

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.

[stu31] 15/7/2024 22:33

From 43 mins

Crescat's Live Market Call - June 21, 2024 Commentary

[stu31] 11/7/2024 01:24

205+25m shares in issue. 271m FD. Market Cap C$29m (£17m) at 14c
Cash C$8.4+3.5m (6/24) Management + Insiders 22% Inst 37%
P 14c (9/24)

website:

On the same belt as 3 Copper discoveries
Mogotes Metal’s Filo Sur Project is immediately south of Filo Mining’s flagship Filo del Sol project, and on strike with its world class new sulphide discovery, in the Vicuña Copper District of Chile and Argentina. NGEx Minerals’ recent discovery at Lunahuasi and its Los Helados exploration projects are nearby and in the same district.

Earn In Deal Structure
Mogotes Metals has an option to earn up to an 85% interest in the Filo Sur project area from Golden Arrow Resources Corp. (TSXV:GRG)
Mogotes Metals can earn an 80% interest in the Filo Sur Project by completing:
– Exploration expenditures of C$5M (completed)
– Cash payment of C$1.75M (C$0.55M remaining), with final payment due in May 2027

Mogotes Metals can earn an additional 5% interest by completing a Feasibility Study.
After this, the parties enter into a Joint Venture:
Any party that does not contribute has its share diluted
If Golden Arrow’s interest falls under 10%, it converts to a 2% net smelter returns royalty (“NSR”).
Mogotes Metals may buy back 1% of the NSR for C$2 million and remaining 1% of NSR for C$5 million.
There exists a prior 0.5% NSR capped at US$0.5M total to a previous owner

Stage 1 program will continue into February 2025, with first assay results are anticipated to be received at this time. Results will be analyzed, and feed into the subsequent exploration program and drill targeting during this field season.

From 43 mins
Crescat's Live Market Call - June 21, 2024 Commentary

[ohisay] 08/8/2014 15:06

So was I but not with any great hope.
Sobering to think thats all its worth to the market these days.
Best not look at the 10 year chart.

[rayrac] 08/8/2014 09:18

Yes, it's the temporary bit that confuses. I was hopeful of another higher offer. ;-)

[whackford] 08/8/2014 08:54

TEMPORARY SUSPENSION OF TRADING ON AIM

It is the use of the word "Temporary" that seems to be causing confusion.

Adam, your enlightenment appears to show trading suspension is "permanent".

[adam] 08/8/2014 07:17

It is expected that trading in MOG Shares on the AIM market of the London Stock Exchange ("AIM") will be suspended at 7.30 a.m. (London time) on 8 August 2014 and that, following the Scheme becoming effective, the admission of the MOG Shares to trading on AIM will be cancelled at 7.00 a.m. (London time) on 12 August 2014. The last day for dealings in, and for registration of transfers in MOG Shares will therefore be 7 August 2014.

[rayrac] 08/8/2014 06:52

Why the suspension?

[lr2] 30/7/2014 11:59

Afternoon Cyan. Keep up the good work.

[ohisay] 30/7/2014 08:26

Goodies here soon.

What is happening?
-Scheme of Arrangement
-Effective Date: 11th August 2014.
-Terms: GBP0.04875 in cash, and 0.0172 Shares in Rockhopper for each Mediterranean Oil & Gas Share .

Currently worth 6.488p with RKH at 93.75p.

[cyan] 28/7/2014 08:43

With a more positive attitude from the Italian government Ombrina Mare will become a very profitable asset.

Ombrina Mare Exploration and Development
•Ombrina Mare 1 Oil & Gas discovery successfully appraised by OBM2 and OBM2-dir wells in June 2008
•Flow test form OBM2-Dir horizontal well achieved an equivalent flow rate of approximately 1,000 barrels of oil per day
•Certified as Contingent Resources by ERC Equipoise Ltd. in 2013:
◦Oil C1 of 9.8 MMbbls, C2 of 25.1 MMbbls and C3 of 62.8 MMbbls
◦Gas C1 of 4.5 Bcf, C2 of 9.5 Bcf and C3 of 21.6 Bcf

•Prospective Oil and Gas Resources of 16 to 45 MMboe (Best to High case)
•Award of Production Concession will enable development planning to move ahead


Ombrina Mare oil & gas field

[falklands] 28/7/2014 05:32

Nop takeover in the end any of you know latest news ?