Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has expanded its 2026 drill program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters, as the company continues to intersect shallow, high-grade copper mineralization. Drilling is ongoing with three diamond drill (DD) rigs on site, and a reverse circulation (RC) rig is expected to be added shortly. The expansion reflects the company's success in defining mineralization that could contribute to a maiden resource estimate.
The latest results from nine drill holes in the Southwest Area include significant 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 from 136.0 meters. Hole BRT-DDH062 returned 76.0 meters at 0.74% copper from 69.0 meters, including 13.0 meters at 3.62% copper from 106.0 meters. These intersections are close to surface, which the company believes is advantageous for potential development.
Merlin Marr-Johnson, President and CEO of Fitzroy, emphasized the significance of these results: “I am delighted that we continue to see good results from Buen Retiro. This time the intersections close to surface at Buen Retiro include intercepts of 59 metres at 1.73% Cu in drill hole 52 and 76.0 m at 0.74% Cu in drill hole 62.” He noted that the near-surface, leachable material near infrastructure in Chile could enable near-term copper cathode production with reduced capital requirements and permitting timelines. One plan under evaluation involves producing a soluble copper sulphate concentrate at site, which could be trucked to one of three electro-winning (EW) plants within a 90 km radius for processing into copper cathode.
Since February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, comprising 49 infill holes, six geotechnical holes, and 12 exploration holes. The company is targeting a maiden mineral resource estimate for the Southwest Area, but continued discovery of new mineralization is extending the timeline. Two rigs are currently testing extensions to the northwest and southeast.
Laboratory turnaround times with ALS Global have experienced delays of up to three months. To mitigate this, Fitzroy has engaged SGS Laboratories for samples from the Pit Area, ensuring each major area is analyzed by a single laboratory to preserve data integrity. The company plans exploration holes based on visual grade estimation to manage the delays.
Drill holes 22, 50, and 52 intersect a body of high-grade mineralization truncated at depth by a fault. Hole BRT-DDH022, reported earlier, returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper from 97 meters. Assays from hole 88 are pending. The company follows strict quality assurance and quality control (QA/QC) procedures, including insertion of blanks, standards, and pulp duplicates, with about 12% of samples being QA/QC samples.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release. Fitzroy Minerals is focused on copper mineral assets in the Americas, including the Buen Retiro, Caballos, and Polimet projects in Chile, the Taquetren 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.
For more information, visit the company's website at www.fitzroyminerals.com.
