Fitzroy Identifies Nine Copper Targets at Buen Retiro, Chile, as 5,000-Metre Drilling Begins

Published: Oct 28, 2026 01:00 (GMT+8)
Fitzroy Minerals said on 22 October that a machine-learning and 3D seismic study with Fleet Space Technologies identified nine previously undrilled copper targets within about 400 metres of surface at its Buen Retiro project in Chile. The model used some 24,400 copper assays from 140 holes, four geophysical datasets and geological models to estimate, on 25-metre blocks, where copper above a 0.5% threshold may occur, excluding mined-out areas and ground within 200 metres of existing holes. A 5,000-metre diamond and reverse-circulation program is underway, with logs and assays to refine the model. Milestones: maiden resource and PEA in Q4 2026, final metallurgy in Q1 2027, PFS in Q2 2027, production targeted for 2028. Pucobre may buy 30% by reimbursing 90% of eligible spending, minimum 10.2 million USD. A separate 5,500-metre program at Caballos starts in Q4 2026.

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