Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has provided an update on definition drilling, metallurgical test work, and geophysical surveys at its Buen Retiro Copper Project in Copiapo, Chile. The company is advancing toward a maiden mineral resource estimate and a pre-feasibility study (PFS) for the heap leach project.
Drill holes BRT-DDH048 and BRT-DDH049 returned significant intercepts: 92.5 metres at 0.53% copper from 3.5 metres, including 46.0 metres at 0.82% copper; and 83.0 metres at 0.57% copper from 95.0 metres, including 43.0 metres at 0.90% copper. These results are part of a two-rig definition drilling program that has completed 32 new holes (5,143 metres) in the southwest area, with assays pending for many.
Merlin Marr-Johnson, President and CEO, said: "The resource definition drilling is advancing quickly and has intersected many samples that exceed the ALS laboratory 1% Cu maximum limit for 'exploration' assay methods in the southwest area. Although these samples have to be re-assayed using 'ore grade' assay methods, and many results are pending, it shows there is plenty of copper in the system."
Metallurgical test work has started at SGS Laboratories on a 2,900 kg representative sample. Three geo-metallurgical domains have been defined: higher-grade oxide, lower-grade oxide, and mixed supergene transition. The program includes variability analysis, permeability and column leach testing, and acid consumption evaluation.
A regional passive seismic ANT geophysical survey by Fleet Space Technologies has been completed across a 5 km x 5 km area, with data processing and interpretation underway. A higher-resolution survey over a central 2 km x 3 km area will follow.
The company plans to complete definition drilling in May, after which one drill rig will start a minimum of 8,000 metres of Phase 3 exploration drilling for sulphide mineralization and ANT targets, while another will execute a 2,000-metre geotechnical program.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a 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.
