Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) reported results from 15 drill holes at the Buen Retiro Copper Project in Copiapo, Chile, revealing wide zones of copper mineralization close to surface. The results highlight the potential for leachable material, which could be amenable to low-cost extraction methods.
Drill hole BRT-DDH072 intersected 111.9 metres at 0.97% copper from 21.1 metres depth, including 18.0 metres at 1.59% copper from 84 metres. Drill hole BRT-DDH070 returned 147.7 metres at 0.41% copper from 26.3 metres, including 47.0 metres at 0.88% copper from 113 metres. These results confirm consistent shallow mineralization across approximately 300 metres in the Tenorita area, which has been renamed from the 1.7 km trend southwest of the historical Manto Negro open pit.
Merlin Marr-Johnson, President and CEO of Fitzroy, stated: "Buen Retiro continues to deliver excellent results and several of the fifteen drill holes reported today reflect wide zones of mineralization in leachable material close to surface." He noted that drill hole 72, located east of hole 70, confirms the continuity of shallow mineralization.
The company is currently operating four drill rigs at the site, including three diamond drill rigs and one reverse circulation rig. Fitzroy aims to complete the drill-out of the Tenorita area in August to stay on track for production in early 2028. The 2026 drilling program, totaling an additional 9,000 metres, has three key objectives: advancing the Tenorita area to Measured, Indicated, and Inferred resource categories for a Pre-Feasibility Study; defining Inferred resources elsewhere on the property; and testing new exploration targets.
Drilling activities are ongoing, with one rig drilling shallow sulphides north of the historical Manto Negro pit in an area renamed Ortuzar, another testing the southern extension of the pit in the Nativo area, a third drilling the northeast extension of Tenorita, and the RC rig exploring regional targets.
Selected results from 15 holes (BRT-DDH066 to BRT-DDH080) are detailed in the company's release. Drill hole 72 also included sub-intervals of 19 metres at 1.50% copper from 32 metres, 18 metres at 1.59% copper from 84 metres, and 18 metres at 1.91% copper from 111 metres. Drill hole 70 included 47 metres at 0.88% copper from 113 metres and 27 metres at 1.20% copper from 133 metres.
Data from the NI 43-101 technical report for the Buen Retiro Copper Project, dated October 23, 2024, shows that earlier drill hole 7 intersected 25 metres at 0.72% copper from 158 metres. More recent drilling previously reported here includes hole 27 with 133 metres at 0.46% copper from 22 metres and hole 58 with 75.0 metres at 0.82% copper from 9.0 metres.
The company follows strict quality assurance and quality control procedures, including the insertion of blanks, standards, and duplicates accounting for about 12% of total samples. Certified copper standards from INTEM are used, and 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 to the Company, has reviewed and approved the technical information in this news release.
