Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) reported additional high-grade copper drill results and provided an update on development activities at its Buen Retiro Copper Project in Copiapo, Chile. The company has completed 22,697 metres of diamond drilling and 2,780 metres of reverse circulation drilling in 2026 as of September 30, with drilling continuing using two diamond drill rigs and one RC rig. The current program aims to define Measured and Indicated Resources at Tenorita and Inferred Resources at Nativo, Ortuzar, and the extensions of Tenorita.
Drilling highlights from the Nativo area include BRT-DDH110, which intersected 30.5 metres at 2.48% copper from surface to the end of the hole, ending in mineralization. BRT-DDH121 returned 18 metres at 2.50% copper from 163 metres, including 10 metres at 4.00% copper. BRT-DDH117 intersected 166 metres at 0.37% copper from 81 metres, including 105 metres at 0.52% copper and 30 metres at 1.23% copper. BRT-DDH115 returned 43 metres at 0.83% copper from 115 metres. Full assay tables are available in the See 1 of 2 and 2 of 2 links, while cross-sections are shown in Figure 2 and Figure 3.
Merlin Marr-Johnson, President and CEO, commented that Buen Retiro continues to improve as understanding of the project’s scale grows. He noted that in just 24 months, the company has defined a continuous body of leachable copper mineralization and is advancing multiple studies in parallel. Marr-Johnson emphasized that Buen Retiro offers a low-capital-intensity, near-term copper production opportunity, contrasting with many new copper projects that require billions of dollars and a decade or more to reach production. He highlighted that the opportunity extends well beyond Tenorita, with recent drilling at Nativo demonstrating the broader mineralized system’s scale and quality.
In parallel with exploration, Fitzroy is advancing geotechnical studies, sterilization drilling, environmental baseline studies, metallurgy, mineral processing, and engineering to support a potential near-term heap-leach development. The company has expanded its environmental baseline studies and the scope of the proposed heap leach program as the potential scale of the project has increased. In Q4 2026, Fitzroy plans to submit the statement of environmental impact (DIA) and publish a maiden Mineral Resource Estimate and a Preliminary Economic Assessment that will incorporate Inferred Resources across the wider project area. A Pre-Feasibility Study with an updated MRE and maiden Mineral Reserve Statement is planned for Q2 2027, focusing on the central portion of Tenorita.
Geological work has identified three distinct domains: Tenorita, Nativo, and Ortuzar. Tenorita mineralization strikes north-northwest and dips steeply east, remaining open to the southeast. Nativo strikes north-south and is subvertical, merging with Tenorita to the south. Both are centered on ferric breccias with widths of approximately 70 metres. Ortuzar displays greater variability, with manto-style mineralization dipping about 30 degrees to the northwest and chalcopyrite becoming dominant down-dip. Most mineralization intersected in Tenorita and Nativo is copper oxide and mixed, down to depths of 120-150 metres.
Dr. Scott Jobin-Bevans, an independent qualified person, has reviewed and approved the technical information. Fitzroy Minerals is focused on exploring and developing copper assets in Chile, with Buen Retiro and the Caballos Copper Project as its lead properties. The company’s shares trade on the TSX Venture Exchange under FTZ and on the OTCQX under FTZFF. For more information, visit www.fitzroyminerals.com or view the original release on www.newmediawire.com.
