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 in 2026, following continued high-grade copper intersections near surface. The company is currently operating three diamond drill rigs on site, with a reverse circulation rig to be added shortly, as drilling targets both resource definition and exploration.
Highlights from recent drilling include drill hole BRT-DDH052, which returned 59.0 meters at 1.73% copper from 92.0 meters depth, including 12.0 meters at 5.39% copper from 136.0 meters. Drill hole BRT-DDH062 returned 76.0 meters at 0.74% copper from 69.0 meters, including 13.0 meters at 3.62% copper from 106.0 meters. These results underscore the potential for shallow, leachable mineralization that could support low-capital, near-term production.
Merlin Marr-Johnson, President and CEO of Fitzroy, emphasized the significance of the results: “I am delighted that we continue to see good results from Buen Retiro. This time the intersections close to surface at Buen Retiro include intercepts of 59 metres at 1.73% Cu in drill hole 52 and 76.0 m at 0.74% Cu in drill hole 62. 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. We see a route to near-term copper cathode production with reduced capital requirements and reduced permitting timelines.”
The company is evaluating a plan to produce a soluble copper sulphate concentrate at site, which could be trucked to one of three electro-winning plants within a 90-kilometer radius for processing into copper cathode. This approach could significantly reduce capital costs and permitting timelines compared to traditional mining operations.
Since the start of February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, including 49 infill, six geotechnical, and 12 exploration holes. The ongoing drilling continues to extend mineralization in the Southwest Area, with step-outs to the northwest and southeast. However, laboratory turnaround times with ALS Global have been slow, with delays up to three months. To mitigate this, Fitzroy has contracted SGS Laboratories for samples from the Pit Area, ensuring data integrity for the two main areas of interest.
Drill hole BRT-DDH054 returned 80.2 meters at 0.65% copper from 20.8 meters depth, including 22.0 meters at 1.32% copper, while drill hole BRT-DDH062 included a 13.0-meter interval at 3.62% copper. These results, along with previously reported holes like BRT-DDH022 (110 meters at 1.94% copper) and BRT-DDH059 (78 meters at 1.70% copper), highlight the consistency of mineralization.
The company maintains rigorous quality assurance and quality control protocols, including insertion of blanks, standards, and pulp 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 exploration in the Americas, with properties in Chile, Argentina, and Canada. The expansion of the drill program at Buen Retiro reflects the company's commitment to rapidly advancing the project toward a maiden resource estimate and potential production.
