Fitzroy Minerals Inc. (TSXV: FTZ, OTCQB: FTZFF) has released results from its latest drilling program at the Buen Retiro and Caballos copper projects in northern Chile, extending the oxide mineralization trend at Buen Retiro to 1.7 kilometers and identifying near-surface sulphide mineralization comparable to Candelaria open pit grades.
At Buen Retiro, drill hole BRT-DDH041 intersected 108 meters at 0.41% copper and 156 ppm cobalt from 30 meters depth, including a higher-grade interval of 48 meters at 0.77% copper and 241 ppm cobalt. Drill hole BRT-DDH043 returned 77 meters at 0.46% copper from 196 meters, including 20 meters at 0.97% copper and 139 ppm cobalt. These results confirm a new exploration target for Candelaria-style mineralization in the northern area, with shallow sulphide intersections that align with grades reported by Lundin Mining for the Candelaria open pit.
Reverse circulation drilling in the southwest area, initially intended as condemnation holes for potential infrastructure, unexpectedly encountered copper mineralization, extending the oxide trend by 300 meters to a total strike length of 1.7 kilometers. Drill hole BRT-RCD008 intersected 213 meters at 0.19% copper and 199 ppm cobalt from 3 meters, including 85 meters at 0.33% copper. This area will now be targeted for further exploration.
Fitzroy has signed new drilling contracts for a minimum of 10,400 meters of diamond drilling and 3,000 meters of reverse circulation drilling planned for 2026. A ground geophysical survey using passive seismic is being designed to improve resolution on deeper targets. Additionally, discussions regarding a heap leach joint venture with Sociedad Punta del Cobre S.A. continue, and the company has decided to advance a pre-feasibility study (PFS) for the Buen Retiro project to meet NI 43-101 requirements.
At the Caballos project, final results from the 2025 program have extended the strike length of mineralized breccias. Drill hole CAB-DDH009 intersected 70 meters at 0.41% copper equivalent (0.18% Cu, 374 ppm Mo, 0.04 g/t Au) from 85 meters. The core exhibits porphyry textures, alteration, and mineralization typical of economic copper deposits. An airborne MobileMT geophysical survey is scheduled for Q1 2026 to better understand the system's architecture and guide Phase 2 drilling.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, stated: “These sulphide intersections are relatively shallow and with some results that are similar to the Candelaria open pit grades as reported by Lundin Mining. Another indication of the strength of the mineralizing system at Buen Retiro is that even our sterilisation drill holes in the Southwest area intersected copper and have extended the oxide trend by another 300 metres to 1.7 kilometres in length.”
The company is reinterpreting existing geophysical data and designing deep-penetrating ground surveys to target sulphide mineralization at depth. At Caballos, the airborne MobileMT survey is expected to help map subsurface geology and conductive features associated with sulphide mineralization.
Assays are pending for drill holes 44 and 45 at Buen Retiro, with hole 45 continuing to intersect disseminated chalcopyrite to 435 meters before termination. The qualified person for the technical information is Dr. Scott Jobin-Bevans, P.Geo., Ph.D., PMP, an independent consultant to the company.
Fitzroy Minerals is focused on exploring and developing copper assets in the Americas, including the Buen Retiro and Caballos projects in Chile, the Taquetren Gold Project in Argentina, and the Cariboo Project in Canada. The company's shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under FTZFF.
For more information, visit the company's website at www.fitzroyminerals.com.
