Fitzroy Minerals Inc. (TSXV: FTZ, OTCQB: FTZFF) has released significant drilling results from its Buen Retiro and Caballos copper projects in northern Chile, extending the oxide mineralization zone at Buen Retiro to 1.7 kilometers and intersecting high-grade copper-cobalt sulphide intervals that resemble the nearby Candelaria deposit. The company also announced new drilling contracts and geophysical surveys for 2026, advancing exploration at both projects.
At Buen Retiro, Phase 2 drilling totaling 8,300 meters of diamond core across 29 holes has been completed. Results for holes 40 to 43 are reported, with assays pending for holes 44 and 45. 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 returned 77 meters at 0.46% copper from 196 meters, including 20 meters at 0.97% copper and 139 ppm cobalt. These intersections are relatively shallow and are considered comparable to the Candelaria open pit grades reported by Lundin Mining (591.6 Mt at 0.37% copper).
The reverse circulation drilling campaign of 9,822 meters included condemnation holes for future infrastructure, but unexpectedly extended the oxide trend. 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. This has extended the Southwest oxide target by 300 meters to a total strike length of 1.7 kilometers. Drilling also revealed a previously unknown mineralized trend in hole BRT-RCD007, with 59 meters at 0.21% copper from 210 meters.
At Caballos, final results from the 2025 program were released. 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, and the company plans to conduct an airborne MobileMT geophysical survey to better understand the porphyry system's architecture.
Fitzroy has signed new drilling contracts for a minimum of 10,400 meters of diamond drilling and 3,000 meters of reverse circulation drilling in 2026. A ground passive seismic survey is planned to aid deep sulphide targeting. Discussions with Sociedad Punta del Cobre S.A. (Pucobre) regarding a heap leach joint venture continue, and the company has decided to complete a Pre-Feasibility Study for the Buen Retiro project.
These results are significant as they demonstrate the potential for a large-scale copper-cobalt system at Buen Retiro, with both oxide and sulphide mineralization extending over considerable strike lengths. The shallow depth of the sulphide intersections and the similarity to the Candelaria deposit, one of Chile's major copper mines, suggest that Buen Retiro could host a significant resource. The extension of the oxide zone to 1.7 km enhances the potential for heap leach development, which is the focus of the joint venture discussions. At Caballos, the identification of porphyry-style mineralization and the upcoming geophysical survey could lead to the discovery of a deeper porphyry source.
The Qualified Person for this news release is Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), who has reviewed and approved the technical information. Detailed QA/QC procedures are in place, including the insertion of certified standards and blanks.
Fitzroy Minerals is focused on copper projects in the Americas, with additional properties in Argentina and 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 www.fitzroyminerals.com.
