Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported channel sampling results averaging 2.96% copper from its historical Buen Retiro open pit in Chile, highlighting the potential for high-grade copper mineralization as the company advances toward production. The results, from 21 one-metre samples collected throughout the pit, included a maximum grade of 10.68% Cu, with 17 samples exceeding 1% Cu and four above 5% Cu. These findings underscore the presence of significant copper oxide and mixed material that Fitzroy plans to target in its heap leach development.
The company also noted historical drill hole BRT-DDH-013, which intersected 7 meters at 2.78% Cu from 130 meters and 30 meters at 3.52% Cu from 141 meters, located approximately 30–55 meters below the current pit floor. This indicates that previous mining left behind valuable mixed and transition copper material recoverable through the company's planned chloride-leach process. Additionally, drill hole BRT-DDH099, located 70 meters south of the pit, encountered 113 meters of tenorite (CuO) mineralization from 3.5 meters downhole, with estimated grades averaging 1% Cu, submitted for over-limit analysis due to exceeding standard assay limits.
Fitzroy is currently operating three diamond drill rigs at the site, with a reverse circulation rig expected to join by June 20, 2026. The drilling campaign aims to complete approximately 5,000 meters in the Pit Area to support a Project Development Plan, which will form the basis for an Environmental Permit Application scheduled for October 2026. The Pre-Feasibility Study remains on track for completion in Q1 2027.
Metallurgical test work is underway, with initial mini-column results expected in July 2026. The company is also addressing assay delays at ALS Global by redirecting Pit Area samples to SGS Laboratories in Santiago, Chile, which offers shorter turnaround times. Fitzroy geologists are using visual grade estimation to expedite over-limit analysis, with a tendency to under-estimate higher-grade intercepts by 20–30%.
Fitzroy CEO Merlin Marr-Johnson commented, 'Channel sample results averaging around 3.0% Cu and historical drill results of 30 meters at 3.52% Cu showcase the type of copper mineralization we are targeting. With four rigs on site, we will complete around 5,000 meters of drilling in the Pit Area for inclusion into the Project Development Plan.' The company highlighted advantages of the Buen Retiro project, including proximity to infrastructure, low elevation, no human habitation, and a brownfields site in Chile with pro-mining legislation.
For more details, visit the company's website at www.fitzroyminerals.com.
