Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has released new drill results from its Buen Retiro Copper Project in Copiapo, Chile, that underscore the project's potential to become a low-capital-intensity, near-term copper producer. The results, reported on NEWMEDIAWIRE, include intersections such as 30.5 metres at 2.48% copper from surface in hole BRT-DDH110 and 166 metres at 0.37% copper from 81 metres in BRT-DDH117, which included 30 metres at 1.23% copper from 144 metres. These high-grade zones, located in the Nativo area, are hosted in oxide and mixed zones, indicating leachable mineralization that could be amenable to heap-leach processing.
The significance of these results lies in their confirmation of a continuous, shallow copper system that could be developed quickly and at relatively low cost. As CEO Merlin Marr-Johnson noted, “Buen Retiro offers a very different proposition: a simple heap leach, in an established mining district, with the potential to produce copper cathode quickly and efficiently.” With many new copper projects requiring billions of dollars and a decade or more to reach production, Buen Retiro's infrastructure advantages and leachable mineralization position it as a potential near-term supplier of copper cathode, a commodity in high demand for electrification and renewable energy technologies.
Fitzroy has completed 22,697 metres of diamond drilling and 2,780 metres of reverse circulation drilling in 2026 as of September 30, with three rigs currently operating. The company is focused on defining a maiden Mineral Resource Estimate (MRE) and completing a Preliminary Economic Assessment (PEA) in Q4 2026. These studies will cover the Tenorita, Nativo, and Ortuzar areas, and the PEA will incorporate Inferred Resources across the wider project area. Additionally, a Pre-Feasibility Study (PFS) with an updated MRE and maiden Mineral Reserve Statement is planned for Q2 2027, based on the central portion of Tenorita.
In parallel, Fitzroy is advancing environmental and technical workstreams, including geotechnical studies, sterilization drilling, environmental baseline studies, metallurgy, and engineering. The company plans to submit its statement of environmental impact (DIA) in Q4 2026. These milestones are critical for permitting and development, and their timely completion could accelerate the project toward production.
Drilling has also identified three distinct geological domains—Tenorita, Nativo, and Ortuzar—each with unique characteristics. Tenorita strikes north-northwest and remains open to the southeast, while Nativo strikes north-south and merges with Tenorita to the south. The mineralization at both is centered on ferric breccias with a width of approximately 70 metres. Ortuzar, which is more geologically complex, features manto-style mineralization and chalcopyrite at depth. The best result at Ortuzar was 56 metres of oxides at 0.33% copper from 8 metres in BRT-DDH127.
For detailed cross-sections and assay tables, readers can view See 1 of 2 and 2 of 2 for Table 1, and Figure 2. Cross-section A-A’, including drill holes BRT-DDH110 and BRT-DDH121, Buen Retiro, Copiapo, Chile (UTM WGS84 19S). for a visual representation of the high-grade zone. The company's website, www.fitzroyminerals.com, provides further information on the project.
Overall, these results matter because they demonstrate that Buen Retiro is not just another copper exploration story; it is a project with the potential to be fast-tracked to production, offering a rare combination of high-grade leachable resources, existing infrastructure, and a clear path to permitting. If the upcoming MRE and PEA confirm management's expectations, Fitzroy Minerals could be on the cusp of delivering a significant new copper mine at a time when the world urgently needs more copper supply.
