Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) reported channel sample results averaging 2.96% copper from 21 one-metre samples collected within the historical Buen Retiro open pit, with a maximum grade of 10.68% Cu. The company also provided an update on its ongoing drilling program, which continues to intersect extensive visible copper mineralization, supporting the heap leach development plan for the project located near Copiapo, Chile.
The channel samples were collected from mineralized outcrop distributed throughout the pit area. Seventeen of the 21 samples returned above 1.0% Cu, and four exceeded 5.0% Cu. These results are complemented by historical drill data, including hole BRT-DDH-013, which intersected 7 metres at 2.78% Cu from 130 metres and 30 metres at 3.52% Cu from 141 metres downhole, approximately 30-55 metres below the current pit floor. Fitzroy plans to target this deeper mixed and transition copper material, which previous mining left behind, using a chloride-leach process.
Drilling continues with three diamond drill rigs on site, and a reverse circulation rig will be added next week. Since the start of 2026, Fitzroy has completed 10,048 metres of drilling, exceeding the original 7,000-metre plan due to the expansion of the mineralized envelope. An additional 5,000-metre program is underway in the pit area. The company is mitigating assay delays at ALS Global by sending samples from the pit area to SGS Laboratories in Santiago and using in-field grade estimations to request over-limit analysis for samples estimated above 0.9% Cu.
Drill hole BRT-DDH099, located 70 metres south of the historical pit, intersected 113 metres of tenorite mineralization from 3.5 metres downhole, visually estimated to average approximately 1.0% Cu. These results, along with high-grade channel samples, prompted immediate adjustments to increase drill density in that area. Metallurgical test work is underway, with initial mini-column results expected in July, to be incorporated into the project development plan that will support the environmental permit application scheduled for October 2026. The pre-feasibility study remains on track for completion in Q1 2027.
Fleet Space Technologies completed an ambient noise tomography passive seismic infill survey in May, identifying zones of elevated fracturing and host-rock alteration. Fitzroy continues to work with Pucobre S.A. on engineering and commercial aspects of the heap leach development plan. The company highlighted the project’s advantages, including proximity to infrastructure, low elevation, no human habitation, and its location in a pro-mining jurisdiction in Chile.
Qualified Person Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP) has reviewed and approved the technical information in this release. The company maintains rigorous QA/QC procedures, including insertion of blanks, standards, and duplicates, representing about 12% of primary core samples.
For more information, visit www.fitzroyminerals.com.
