Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has provided an update on its definition drilling, metallurgical test work, and geophysical survey at the Buen Retiro Copper Project in Copiapo, Chile. The company reported two notable drill intercepts: hole BRT-DDH048 returned 92.5 metres grading 0.53% copper from 3.5 metres, including 46.0 metres at 0.82% copper from 36.0 metres; and hole BRT-DDH049 returned 83.0 metres at 0.57% copper from 95.0 metres, including 43.0 metres at 0.90% copper from 95.0 metres. These results are part of a 32-hole, 5,143-metre definition drilling program aimed at delineating Measured and Indicated Resources for a maiden mineral resource estimate and a subsequent Pre-Feasibility Study (PFS).
The company has also commenced metallurgical test work at SGS Laboratories on a 2,900 kg representative sample, and completed a passive seismic Ambient Noise Tomography (ANT) geophysical survey over a 5 km x 5 km area, with results pending. The ANT survey is intended to identify potential sulphide mineralization targets for future exploration. Fitzroy’s President and CEO, Merlin Marr-Johnson, stated that the definition drilling is advancing quickly and that many samples exceeded the 1% copper limit for exploration assays, indicating significant copper presence. He added that the start of metallurgical test work is a milestone, and the ANT survey is a step forward in the hunt for a major sulphide discovery.
The definition drilling is focused on oxide, mixed, and supergene material down to 150 metres depth, with the goal of providing a robust life-of-mine plan for the heap leach project. Two drill rigs are currently operating, and definition drilling is expected to be completed in May. Thereafter, one rig will begin a minimum of 8,000 metres of Phase 3 exploration drilling for sulphide targets, while the other will execute geotechnical drilling and then switch to a smaller rig for definition drilling in the historical open pit bottom.
Fitzroy has defined three primary geo-metallurgical domains: a higher-grade oxide domain (≥0.5% Cu), a lower-grade oxide domain (0.1-0.5% Cu), and a higher-grade mixed supergene transition domain. The metallurgical program includes variability analysis, column leach testing, and acid consumption evaluation. The company also plans to evaluate remnant material from the historical Manto Negro pit.
The drill holes reported show a consistent 80-90 metre thick copper-mineralized package dipping about 75 degrees east-northeast, with a higher-grade central core. Of the 32 holes, 19 have been submitted for assay, with full results from four holes returned and others pending due to high-grade samples requiring ore-grade assay methods. The company’s QA/QC procedures include blanks, standards, and duplicates, with no significant issues identified.
Dr. Scott Jobin-Bevans, an independent Qualified Person under NI 43-101, has reviewed and approved the technical information. Fitzroy Minerals is focused on copper projects in the Americas, including the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in Canada. The company’s shares trade on the TSX Venture Exchange under FTZ and on the OTCQX under FTZFF.
