Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported wide intervals of copper mineralization from its Buen Retiro copper project in northern Chile, including drill hole BRT-DDH045 which intersected 384 meters averaging 0.22% copper from 4 meters depth, with a higher-grade zone of 94 meters at 0.33% copper from 30 meters. The results, from the Phase 1 drilling program, demonstrate the presence of large-scale copper mineralization in the North area of the property, hosted within a volcanic sequence of andesitic rocks, breccias, and tuffs. The company is now conducting infill drilling with two diamond rigs, with approximately 6,000 meters planned, to support a maiden mineral resource estimate ahead of a preliminary feasibility study (PFS).
The infill program, which started in February and is drilling about 160 meters per day of HQ core, has completed holes 46 through 60, with samples being logged, cut, and sent for assay. A bulk sample of approximately 2,800 kg of mineralized material has been aggregated for heap leach metallurgical test work at SGS Laboratories, scheduled to begin in late March. The remaining half core is being quartered for assay and storage. After infill drilling concludes in April, one rig will continue exploration drilling (NQ core) for a minimum of 8,000 meters, with flexibility to increase to 15,000 meters, while the other rig will be released.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, emphasized the significance of the results, stating that drill hole 45 intersected copper in two distinct mineralizing styles on a large scale, three kilometers north-northeast of high-grade copper oxide mineralization in the Southwest area. He noted that combined with large, coincident geophysical anomalies, there is compelling evidence that Buen Retiro is a major copper system. Marr-Johnson also highlighted the project's strategic advantages: low elevation, brownfields site four kilometers from the Pan-American Highway and high-voltage transmission lines, proximity to the coast where a proposed desalination plant has a seawater extraction license, and closeness to the mining center of Copiapo with its services and labor pool.
To further de-risk the project, Fitzroy has contracted Fleet Space Technologies to conduct an Exosphere Ambient Noise Tomography (ANT) geophysical survey. The survey will be carried out in two stages: an initial regional survey to image large-scale subsurface architecture, followed by a targeted infill survey subject to results. This passive seismic technique will assist with litho-structural interpretation and support sulphide drill-targeting at depth.
At the Caballos copper-molybdenum-gold project, an airborne MobileMT geophysical survey has been completed, with data interpretation ongoing. Phase 2 drilling is scheduled for later in the year once the geophysical data is integrated into the geological model.
The company has implemented rigorous quality assurance and quality control (QA/QC) procedures, including insertion of blanks, standards, and pulp duplicates, representing about 12% of total primary core samples. The certified copper standards were acquired from INTEM in Chile. No significant issues were identified in the QA/QC review.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101 and independent geological consultant, has reviewed and approved the technical information. The company is focused on exploring and developing copper-focused mineral assets in the Americas, with properties including Buen Retiro, Caballos, Polimet, Taquetren, and Caribou.
