Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has released an update on its definition drilling and advancing studies at the Buen Retiro Copper Project in Copiapo, Chile. The company reported drill hole BRT-DDH048 returned 92.5 metres at 0.53% copper from 3.5 metres, including 46.0 metres at 0.82% copper from 36.0 metres. Drill hole BRT-DDH049 returned 83.0 metres at 0.57% copper from 95.0 metres, including 43.0 metres at 0.90% copper from 95.0 metres. These results are part of a two-rig definition drilling program aimed at delineating a maiden mineral resource estimate and supporting a pre-feasibility study (PFS) for a heap leach operation.
The company has completed 32 new diamond drill holes totaling 5,143 metres in the southwest area, with assays pending for many. Merlin Marr-Johnson, President and CEO, noted that many samples exceeded the 1% copper limit for exploration assay methods, requiring re-assay with ore-grade methods, indicating significant copper content. The definition drilling program is expected to conclude in May, after which one rig will commence Phase 3 exploration drilling targeting sulphide mineralization and testing targets from the recently completed Ambient Noise Tomography (ANT) geophysical survey. The other rig will execute a 2,000-metre geotechnical drilling program.
Metallurgical test work has begun at SGS Laboratories on a 2,900 kg representative sample. Three primary geo-metallurgical domains have been defined: a higher-grade oxide domain (≥0.5% Cu), a lower-grade oxide domain (0.10-0.5% Cu), and a mixed supergene transition domain. The program includes variability analysis, column leach testing, and evaluation of acid consumption. The ANT geophysical survey, conducted by Fleet Space Technologies over a 5 km x 5 km area, is being processed and interpreted. A higher-resolution survey over a central 2 km x 3 km area will follow.
The drill holes reported show a relatively consistent mineralized package about 80-90 metres thick, dipping approximately 75 degrees east-northeast. The high-grade copper samples are predominantly found near the central axis of the dominant structure controlling ferric breccias. Quality assurance and quality control procedures include insertion of blanks, standards, and pulp duplicates at a rate of about 12% of samples. Dr. Scott Jobin-Bevans, an independent qualified person under NI 43-101, has reviewed and approved the technical information.
Fitzroy Minerals is focused on copper projects in the Americas, including the Buen Retiro project, the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in Canada. The company's shares trade on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under FTZFF.
