Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has provided an update on its definition drilling, metallurgical test work, and geophysical survey at the Buen Retiro Copper Project in Copiapó, Chile, as the company moves toward a maiden mineral resource estimate and initial economic study.
Drill highlights include hole BRT-DDH048, which returned 92.5 metres at 0.53% copper from 3.5 metres, including 46.0 metres at 0.82% copper from 36.0 metres. Hole BRT-DDH049 returned 83.0 metres at 0.57% copper from 95.0 metres, including 43.0 metres at 0.90% copper from 95.0 metres. These results come from the southwest area of the deposit, where definition drilling is focused on delineating Measured and Indicated Resources under National Instrument 43-101 (NI 43-101) standards.
Metallurgical test work has commenced at SGS Laboratories on a 2,900-kilogram representative sample. Three primary geo-metallurgical domains have been defined: a higher-grade oxide domain (≥0.5% Cu), a lower-grade oxide domain (0.10-0.5% Cu), and a mixed supergene transition domain. The program includes variability analysis, permeability and column leach testing, and evaluation of acid consumption behaviour, all aimed at supporting the pre-feasibility study (PFS).
Fleet Space Technologies has completed a passive seismic Ambient Noise Tomography (ANT) geophysical survey across a 5 km x 5 km area. Processing and interpretation are underway, with a higher-resolution survey planned over a central 2 km x 3 km area covering priority targets. The ANT survey is designed to identify potential sulphide mineralization at depth.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, stated: "The resource definition drilling is advancing quickly and has intersected many samples that exceed the ALS laboratory 1% Cu maximum limit for 'exploration' assay methods in the southwest area. Although these samples have to be re-assayed using 'ore grade' assay methods, and many results are pending, it shows there is plenty of copper in the system. The start of metallurgical test work for the PFS is a milestone event."
To date, 32 new diamond drill holes (5,143 metres) have been completed in the southwest area. The drill plan continues to expand as fresh zones of shallow mineralization are encountered to the east and south. The company aims to complete definition drilling in May 2026, after which one drill rig will begin a minimum of 8,000 metres of Phase 3 exploration drilling to test ANT targets, while another will execute a 2,000-metre geotechnical program.
The drilling program is solely focused on oxide, mixed, and supergene material down to a maximum depth of 150 metres below surface for inclusion in the PFS. Wider-spaced drilling will target Inferred Resources that could extend the mine life. The copper-mineralized package in the southwest area is approximately 80-90 metres thick, dipping about 75 degrees to the east-northeast.
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. He verified selected laboratory assay results against reported drill core intervals and drill core logs.
Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas, with properties including Buen Retiro, 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.
