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 for 2026, following continued success in intersecting shallow, high-grade copper mineralization. The company reported results from nine drill holes in the Southwest Area, 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.
Merlin Marr-Johnson, President and CEO of Fitzroy, emphasized the significance of the near-surface, leachable material, which is located near infrastructure in Chile. He noted that the company is evaluating a plan to produce soluble copper sulphate concentrate at site, which could be trucked to one of three electro-winning plants within a 90-kilometer radius, potentially enabling near-term copper cathode production with reduced capital requirements and permitting timelines.
Since the start of February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, comprising 49 infill holes, six geotechnical holes, and 12 exploration holes. The ongoing drilling, with three diamond drill rigs currently on site and a reverse circulation rig to be added shortly, continues to expand the known mineralization, delaying the maiden resource estimate as more zones are discovered. Step-out drilling is targeting extensions to the northwest and southeast of the Southwest Area.
To address laboratory turnaround delays at ALS Global, the company has contracted SGS Laboratories for samples from the Pit Area, ensuring data integrity for the two main areas of interest. The company's QA/QC procedures include the insertion of blanks, standards, and pulp duplicates, representing about 12% of total samples, with no significant issues identified.
The high-grade mineralization intersected in holes 22, 50, and 52 is truncated at depth by a fault, with assays from hole 88 pending. Hole 59, reported on May 13, 2026, returned 78.0 meters at 1.70% copper, including 40.0 meters at 3.02% copper. The company continues to release monthly drill results as it advances toward a resource estimate and development plan.
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 projects in the Americas, with additional properties in Chile, Argentina, and Canada.
