Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) announced today that it is expanding its exploration and resource definition drilling program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters in 2026, following continued high-grade copper intercepts near surface. The company reported results from nine additional drill holes, with highlights including 59.0 meters at 1.73% copper from 92.0 meters in hole BRT-DDH052, including 12.0 meters at 5.39% copper, and 76.0 meters at 0.74% copper from 69.0 meters in hole BRT-DDH062, including 13.0 meters at 3.62% copper.
The expansion of the drill program—now encompassing at least 22,000 meters—underscores the significance of the Buen Retiro project, which continues to deliver shallow, leachable copper mineralization. According to Merlin Marr-Johnson, President and CEO of Fitzroy, these results 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,” he said. “We see a route to near-term copper cathode production with reduced capital requirements and reduced permitting timelines.”
Marr-Johnson outlined a potential production pathway: producing a soluble copper sulphate concentrate at site, which could then be trucked and processed into copper cathode at any of three electro-winning plants within a 90-kilometer radius. This approach could significantly lower upfront capital costs and shorten the timeline to production compared to traditional mining operations.
Since February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, comprising 49 infill holes, six geotechnical holes, and 12 exploration holes. The work is aimed at defining mineralization for a maiden mineral resource estimate, centered on the Southwest Area. However, the resource estimate keeps being pushed out as more mineralization is discovered. Currently, two rigs are testing extensions to the northwest and southeast of the Southwest Area.
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 that the two main areas of interest are defined using a single laboratory to preserve data integrity. Exploration holes are planned based on visual estimation of grade to expedite the process.
The newly reported drill results also include hole BRT-DDH054, which returned 80.2 meters at 0.65% copper from 20.8 meters, including 22.0 meters at 1.32% copper, and hole BRT-DDH062 with 76.0 meters at 0.74% copper. Notably, holes 22, 50, and 52 intersect a body of high-grade mineralization truncated at depth by a fault. Hole BRT-DDH022, reported earlier (https://www.fitzroyminerals.com), returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper. Assays from hole 88 are pending.
The company is following strict quality assurance and quality control procedures, including the insertion of blanks, standards, and pulp duplicates, representing about 12% of total samples. Certified copper standards from INTEM are used to evaluate accuracy. No significant QA/QC issues were identified.
Dr. Scott Jobin-Bevans, P.Geo., Ph.D., PMP, an independent qualified person under NI 43-101, has reviewed and approved the technical information in this release. Fitzroy Minerals is focused on copper-focused mineral assets in the Americas, with a portfolio that also includes the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in Canada.
