Exploration Update at the Buen Retiro and Caballos Copper Projects, Chile
Executive Summary
- Buen Retiro’s Southwest Area strike length expanded by ~40% to 1.4 km, with multiple intersected copper zones up to 0.77 % Cu over 35 m.
- RC drilling at Buen Retiro has completed 1,050 m; additional 3,950 m planned for 2026, with assays expected in October 2025.
- Caballos drilling program scaled to three rigs, targeting ~3,000 m of diamond drilling in 2025 across Chincolco and Mule Hill prospects, supported by new age‑dating data linking the system to major Chilean porphyry belts.
Key Details
- Buen Retiro – Diamond Drilling (Holes BRT‑DDH028‑035)
- Hole 028: 133 m @ 0.46 % Cu (incl. 40 m @ 0.53 % Cu, 35 m @ 0.77 % Cu).
- Hole 029: 101 m @ 0.37 % Cu (incl. 27 m @ 0.80 % Cu).
- Hole 034: 58 m @ 0.21 % Cu.
- Hole 035: 58 m @ 0.29 % Cu (incl. 14 m @ 0.52 % Cu, 10 m @ 0.48 % Cu).
-
Holes 030‑032 reported no significant intersections; holes 033 minor intersections.
-
Extension of Continuous Mineralization
- Southwest Area now hosts a continuous zone of 1,400 m, open at both northwest and southeast ends.
-
South Area mineralization extended 150 m southward (hole 33).
-
RC Drilling – Buen Retiro
- Contracted for up to 5,000 m; 1,050 m completed in four holes.
- Targets blind geophysical anomalies; intrusive rocks with chalcopyrite/pyrite identified east of Southwest Area.
-
Initial RC assay results anticipated October 2025.
-
Project Development Outlook – Buen Retiro
- Fast‑track production being evaluated due to proximity to Pan‑American Highway, high‑voltage transmission lines, sea (≈35 km) and Copiapó infrastructure (≈60 km).
- Maiden resource estimate and heap‑leach PEA targeted for completion in 2026.
-
Environmental baseline monitoring commenced.
-
Caballos – Drilling Expansion
- Three rigs to be on site Q4 2025, aiming for ≥3,000 m of diamond drilling (≈2,000 m at Chincolco, ≈1,000 m at Mule Hill).
-
Current activities: ~350 m hole (#3) underway; vertical hole (#2) stalled at 350 m due to fault gouge.
-
Geochronology & Mapping – Caballos
- Os‑Re dating of molybdenite (Chincolco) = 44 Ma; K‑Ar dating (Mule Hill) = 25.5 Ma, linking the system to Eocene‑Oligocene Chilean porphyry belts (Chuquicamata, Escondida, etc.).
- Re‑logging confirms hydrothermal breccias with mineralised clasts.
-
Acquisition of a 291‑ha parcel in Chincolco Valley provides land ownership and access rights.
-
Quality Assurance / Control
- Core handling, sampling, QA/QC procedures detailed; ~12 % of samples are QA/QC (blanks, standards, duplicates).
- No significant QA/QC issues identified for this drill batch.
Notable Quotes
“We have now extended Buen Retiro’s strike length by ~40%, proving both scale and continuity in the Southwest Area… The aim is to complete a PEA and maiden resource estimate in 2026.” – Merlin Marr‑Johnson, President & CEO
Materiality Assessment: Non‑Material – Positive (operational update with encouraging drill results but no immediate financial impact).