Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported significant copper mineralization from its Phase 1 drilling program at the Buen Retiro copper project in northern Chile, highlighting the project's potential as a major copper system. The company also provided an update on exploration activities at both Buen Retiro and its Caballos copper project.
Drill hole BRT-DDH045 intersected 384 meters at 0.22% copper from 4 meters, including a higher-grade interval of 94 meters at 0.33% copper from 30 meters. This hole, located in the North area of the property, encountered two distinct mineralizing styles: a stockwork zone in the first 100 meters followed by a Candelaria-style stratiform system extending for an additional 284 meters. The mineralization is characterized by consistent chalcopyrite throughout. Drill hole BRT-DDH044 returned a best interval of 10 meters at 0.30% copper from 142 meters.
Infill drilling, which commenced in February, is advancing at a rate of approximately 160 meters of HQ diamond core per day, with holes 46 through 60 completed and samples being processed. The program, totaling about 6,000 meters, is expected to conclude in April and will support a maiden mineral resource estimate ahead of a pre-feasibility study. A 2,800-kilogram bulk sample has been assembled for heap leach metallurgical test work at SGS Laboratories, scheduled to start in late March.
Merlin Marr-Johnson, President and CEO, emphasized the strategic advantages of the Buen Retiro project: low elevation, brownfields location four kilometers from the Pan-American Highway and high-voltage transmission lines, proximity to the coast where a desalination plant has a seawater extraction license, and access to the mining center of Copiapo with its services and labor pool. The company aims to leverage potential future cash flow from a heap leach operation to fund further exploration for major copper deposits with minimal dilution.
At the Caballos copper-molybdenum-gold project, an airborne MobileMT geophysical survey has been completed, and data interpretation is ongoing. Phase 2 drilling is planned later in the year once the geophysical data is integrated into the geological model.
Fleet Space Technologies has been contracted to conduct an Exosphere Ambient Noise Tomography (ANT) geophysical survey at Buen Retiro. The survey will be carried out in two stages: an initial regional survey to image large-scale subsurface architecture, followed by a targeted infill survey if warranted.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a qualified person as defined by NI 43-101 and independent geological consultant, has reviewed and approved the technical information in this release. The company maintains rigorous quality assurance and quality control procedures, including the insertion of certified standards, blanks, and pulp duplicates representing about 12% of total samples.
For further details, visit the company's website at www.fitzroyminerals.com. The original press release is available at www.newmediawire.com.
