Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced an expansion of its drill program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters for 2026. The decision follows continued success in intersecting shallow, high-grade copper mineralization, with three diamond drill rigs currently on site and a reverse circulation rig expected to join shortly.
The company reported results from nine drill holes in the Southwest Area, highlighting intercepts such as 59.0 meters at 1.73% copper from 92.0 meters in hole BRT-DDH052, including 12.0 meters at 5.39% copper. Hole BRT-DDH062 returned 76.0 meters at 0.74% copper from 69.0 meters, including 13.0 meters at 3.62% copper. These results underscore the potential for near-surface, leachable mineralization suitable for low-capital production.
President and CEO Merlin Marr-Johnson emphasized the significance of the results: "Results of this calibre, news release after news release, are the hallmark of a well mineralized system. What makes it so valuable is that this is near-surface, leachable material, near infrastructure in Chile. We see a route to near-term copper cathode production with reduced capital requirements and reduced permitting timelines." One plan under evaluation involves producing a soluble copper sulphate concentrate at site, which could then be trucked to one of three electro-winning plants within a 90-kilometer radius for processing into copper cathode.
Since February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, including 49 infill holes, six geotechnical holes, and 12 exploration holes. The focus is on defining mineralization for a maiden mineral resource estimate, with step-out drilling targeting extensions to the northwest and southeast of the Southwest Area. However, delays in assay turnaround times from ALS Global, up to three months, have prompted the company to also engage SGS Laboratories for samples from the Pit Area to maintain dataset integrity.
Notable intercepts from the latest results include 80.2 meters at 0.65% copper from 20.8 meters in hole BRT-DDH054, with a higher-grade interval of 22.0 meters at 1.32% copper. Cross-sections of holes 22, 50, and 52 reveal a high-grade mineralization body truncated at depth by a fault. Hole BRT-DDH022, previously reported on June 6, 2025 (here), returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper. Assays from hole 88 are pending.
The company's quality assurance and quality control procedures involve inserting blanks, pulp duplicates, and certified copper standards at a rate of about 12% of total samples, with no significant issues identified. Dr. Scott Jobin-Bevans, a Qualified Person under NI 43-101, has reviewed and approved the technical information.
