Fitzroy Minerals Inc. (TSXV: FTZ, OTCQB: FTZFF) has reported new drilling results from its Buen Retiro and Caballos copper projects in northern Chile, highlighting a significant extension of the oxide mineralization zone at Buen Retiro to 1.7 kilometers and strong copper-cobalt intersections that suggest the presence of Candelaria-style sulphide mineralization.
At the Buen Retiro project, the company completed Phase 2 drilling with 8,300 meters of diamond drill core across 29 holes. Results from holes 40 to 43 are reported, with assays pending for holes 44 and 45. Notably, drill hole BRT-DDH041 intersected 108 meters at 0.41% copper and 156 ppm cobalt from 30 meters, including 48 meters at 0.77% copper and 241 ppm cobalt from 60 meters. Drill hole BRT-DDH043 intersected 77 meters at 0.46% copper from 196 meters, including 20 meters at 0.97% copper and 139 ppm cobalt from 201 meters. These intersections are relatively shallow and comparable to grades reported by Lundin Mining for the Candelaria open pit, as per their 2024 annual report.
In addition, reverse circulation drilling for sterilization purposes unexpectedly extended the oxide mineralization trend in the Southwest area. Drill hole BRT-RCD008 intersected 213 meters at 0.19% copper and 199 ppm cobalt from 3 meters, including 85 meters at 0.33% copper and 111 ppm cobalt, with a higher-grade interval of 17 meters at 0.70% copper and 100 ppm cobalt from 17 meters. This extends the Southwest oxide target by 300 meters to a total strike length of 1.7 kilometers. Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, commented that even sterilization drill holes intersected copper, indicating the strength of the mineralizing system.
The company has signed new drilling contracts for a minimum of 10,400 meters of diamond drilling and 3,000 meters of reverse circulation drilling planned for 2026. A ground passive seismic survey is also planned to assist with sulphide drill-targeting at depth. Discussions regarding a Heap Leach Joint Venture with Sociedad Punta del Cobre S.A. (Pucobre) continue, and the associated technical report will be a Pre-Feasibility Study meeting NI 43-101 requirements.
At the Caballos project, Phase 1 drilling has been completed with 3,154 meters across nine holes. Drill hole CAB-DDH009 intersected 70 meters at 0.41% copper equivalent (0.18% Cu, 374 ppm Mo, 0.04 g/t Au) from 85 meters in the Estero Chincolco hydrothermal breccia. The core exhibits porphyry textures, alteration, and mineralization, consistent with a long-lived copper system. An airborne MobileMT geophysical survey has been commissioned for Q1 2026 to help map subsurface geology and sulphide mineralization. Phase 2 drilling is scheduled after integration of geophysical data.
The company also provided details on its quality assurance and quality control procedures. For Buen Retiro, samples are processed at ALS-Patagonia in Copiapó, with standards, blanks, and duplicates inserted at a rate of about 12%. For Caballos, samples are analyzed at Andes Analytical Assay Limitada in Santiago, with check assays sent to ALS Global in Lima. The Qualified Person, Dr. Scott Jobin-Bevans, has reviewed and approved the technical information.
Fitzroy Minerals is focused on exploring and developing copper assets in the Americas. The Buen Retiro and Caballos projects are part of a portfolio that also includes the Taquetren Gold Project in Argentina and the Cariboo Project in Canada. The company's shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under FTZFF.
For more information, visit the company's website at www.fitzroyminerals.com.
