Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF) reported significant copper mineralization intervals from its Buen Retiro copper project in northern Chile, with drill hole BRT-DDH045 returning 384 meters at 0.22% copper from 4 meters, including 94 meters at 0.33% copper from 30 meters. The results demonstrate large-scale copper mineralization in the North area of the property, located three kilometers north-northeast of high-grade copper oxide mineralization in the Southwest area.
Drill hole BRT-DDH045 intersected two distinct mineralizing styles: a stockwork zone in the first 100 meters, transitioning into a Candelaria-style stratiform system for an additional 284 meters. Copper mineralization, primarily chalcopyrite, is consistent throughout the hole. Drill hole BRT-DDH044 returned lower-grade intervals, with the best intersection being 10 meters at 0.30% copper from 142 meters.
The company is advancing infill drilling with two diamond drill rigs, drilling approximately 160 meters of HQ core per day. To date, holes 46 through 60 have been completed, with samples being logged and sent for assay. The infill program, totaling approximately 6,000 meters, is expected to be completed in April. Following that, one rig will continue exploration drilling (NQ core) for a minimum of 8,000 meters, with flexibility to increase to 15,000 meters.
A 2,800-kilogram bulk sample has been prepared for heap leach metallurgical test work at SGS Laboratories, scheduled to start in late March. The company also plans to conduct a passive seismic survey using Fleet Space Technologies' Ambient Noise Tomography (ANT) system, which will assist in litho-structural interpretation for deep sulphide targeting.
CEO Merlin Marr-Johnson emphasized the project's strategic advantages: "Crucially, Buen Retiro is at low elevation, on a brown-fields site four kilometers from the Pan-American Highway and associated high voltage transmission lines, close to the coast where a proposed desalination plant has a seawater extraction licence, and close to the mining centre of Copiapo." These factors could support a future heap leach operation with minimal dilution, leveraging potential cash flow to fund further exploration.
At the Caballos copper-molybdenum-gold project, an airborne MobileMT geophysical survey has been completed, with data interpretation ongoing. Phase 2 drilling is scheduled for later this year after integrating geophysical data into the geological model.
The qualified person for the technical information is Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), an independent geological consultant. The company follows strict QA/QC protocols, including certified standards, blanks, and duplicates, representing about 12% of samples. No significant issues were identified in the QA/QC results.
Fitzroy Minerals is focused on copper exploration in the Americas, with properties in Chile, Argentina, and Canada. The company's shares trade on the TSX Venture Exchange under symbol FTZ and on the OTCQX under FTZFF.
