Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported further high-grade copper intersections from ongoing drilling at its Buen Retiro Copper Project in Copiapo, Chile, according to a company release distributed via NEWMEDIAWIRE. The results, which include a standout intercept of 64 meters at 2.00% copper, are expected to feed into a forthcoming maiden Mineral Resource Estimate (MRE) and a planned Preliminary Economic Assessment (PEA).
As of November 5, Fitzroy has completed 25,634 meters of diamond drilling and 5,555 meters of reverse circulation (RC) drilling at Buen Retiro, totaling 31,189 meters since the program began in February 2026. Three drill rigs remain active: two diamond rigs focused on infill drilling of copper oxide and mixed oxide-sulphide mineralization, and one RC rig conducting sterilization and exploration drilling. The company has also planned an additional 3,300 meters of diamond drilling to support potential conversion of Inferred Resources to Measured and Indicated categories for an updated MRE and a Pre-Feasibility Study targeted for the second quarter of 2027. A 5,000-meter sulphide exploration program is also underway.
The latest assay results, covering diamond drill holes BRT-DDH129 to BRT-DDH167 and RC holes BRT-RCD020 to BRT-RCD032, highlight several significant intervals. BRT-DDH134 returned 64 meters at 2.00% copper from 127 meters, including 41 meters at 3.05% copper from 133 meters. This hole overlaps with historical drill hole BRT-DDH013, which intersected 30 meters at 3.52% copper from 141 meters, including 12 meters at 5.00% copper. According to the company, the two holes define a zone of strong mineralization over a true width of approximately 50 meters at the base of the historical Manto Negro open pit. Other notable results include BRT-DDH146 with 107 meters at 0.48% copper from 10 meters (including 37 meters at 0.96% copper), BRT-DDH133 with 109 meters at 0.41% copper from 20 meters, and BRT-DDH143 with 179 meters at 0.26% copper from 30 meters plus 86 meters at 0.22% copper from 272 meters.
Merlin Marr-Johnson, President and CEO of Fitzroy, said, “More great results from Buen Retiro! Intersections of 64 metres at 2% copper, including 41 metres at 3% copper, are stand-out results,” adding that the mineralization is near-surface and leachable, amenable to low-cost processing. He also noted that the company looks forward to publishing its maiden mineral resource estimate and associated PEA soon.
The drilling largely confirms the geological model at Tenorita, Nativo, and Ortuzar. Mineralization at Tenorita strikes north-northwest and dips steeply east, while Nativo strikes north-south and is subvertical. Both areas are centered on ferric breccias with a width of approximately 70 meters, and most of the mineralization is copper oxide and mixed oxide-sulphide down to depths of 120-150 meters. Ortuzar is more complex, with disseminated manto-style mineralization dipping about 30 degrees to the northwest and a shallower oxidation depth of 60-80 meters.
For a detailed cross-section through the historical Manto Negro open pit, the company provided Figure 2. Cross-section B-B’ through the historical Manto Negro open pit, including drill holes BRT-DDH013, BRT-DDH111, and BRT-DDH134 (see Figure 1), Buen Retiro, Copiapo, Chile (UTM WGS84 19S). A second cross-section including drill holes BRT-RCD030, BRT-DDH131, and BRT-DDH135 is also available in Figure 3. Cross-section A-A’, including drill holes BRT-RCD030, BRT-DDH131, and BRT-DDH135 (see Figure 1), Buen Retiro, Copiapo, Chile (UTM WGS84 19S).
The results matter for Fitzroy because they underpin the economic potential of Buen Retiro. The high-grade, near-surface copper mineralization could support a low-cost operation, and the maiden MRE and PEA will provide investors with a first formal assessment of the project’s scale and viability. The ongoing infill and sulphide exploration programs suggest the company is aiming to expand and upgrade resources ahead of a pre-feasibility study. For the broader copper market, such developments are relevant as global demand for the metal is expected to rise due to electrification and renewable energy technologies. Fitzroy’s shares trade on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under FTZFF. More information about the company is available at www.fitzroyminerals.com, and the original release can be viewed at www.newmediawire.com.
