Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced an expansion of its drill program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters for 2026, following continued success in intersecting shallow, high-grade copper mineralization. The company reported results from nine drill holes in the Southwest Area, with notable intercepts including 59.0 meters grading 1.73% copper from a depth of 92.0 meters in hole BRT-DDH052, which included 12.0 meters at 5.39% copper. Hole BRT-DDH062 returned 76.0 meters at 0.74% copper from 69.0 meters, including 13.0 meters at 3.62% copper.
Drilling is ongoing with three diamond drill rigs on site, and a reverse circulation rig is expected to be added shortly. To date, the company has completed 67 drill holes totaling 10,583 meters since February 2026, comprising infill, geotechnical, and exploration holes. The expansion of the drill program reflects the company's success in identifying additional mineralization, which is delaying the timeline for a maiden mineral resource estimate as more mineralization is discovered.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, emphasized the significance of the near-surface nature of the mineralization and its proximity to infrastructure. “Results of this calibre, news release after news release, are the hallmark of a well mineralized system. What makes it so valuable is that this is near-surface, leachable material, near infrastructure in Chile,” he stated. The company is evaluating a plan to produce a soluble copper sulphate concentrate at site, which could then be trucked to one of three electro-winning plants within a 90-kilometer radius for processing into copper cathode. This approach could reduce capital requirements and permitting timelines.
Among the highlights, drill hole BRT-DDH054 returned 80.2 meters at 0.65% copper from 20.8 meters, including 22.0 meters at 1.32% copper. Drill holes 22, 50, and 52 intersect a body of high-grade mineralization that is truncated at depth by a fault. Previous results from hole BRT-DDH022, reported on June 6, 2025, returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper. Assays from hole 88 are pending.
The company is managing laboratory turnaround delays by using visual estimation for exploration holes and has contracted SGS Laboratories for samples from the Pit Area to maintain data integrity. The company’s quality assurance and quality control protocols include the insertion of blanks, standards, and duplicates at a rate of about 12% of total samples. Dr. Scott Jobin-Bevans, a Qualified Person under NI 43-101, has reviewed and approved the technical information in this release.
Fitzroy Minerals is focused on copper projects in the Americas, with its portfolio 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.
