Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has released further high-grade copper drill results from its Buen Retiro Copper Project in Copiapo, Chile, along with an update on development activities. The company has completed 22,697 metres of diamond drilling and 2,780 metres of reverse circulation drilling in 2026 as of September 30, with three drill rigs currently active. The program aims to define Measured and Indicated Resources at Tenorita and Inferred Resources at Nativo, Ortuzar, and Tenorita extensions.
Drilling highlights from the Nativo area include BRT-DDH110, which intersected 30.5 metres at 2.48% copper from surface to the end of the hole, and BRT-DDH121, which returned 18 metres at 2.50% copper from 163 metres, including 10 metres at 4.00% copper. BRT-DDH117 intersected 166 metres at 0.37% copper from 81 metres, including 105 metres at 0.52% copper and 30 metres at 1.23% copper. These results confirm the presence of continuous leachable copper mineralization in oxide and mixed zones.
In parallel with exploration, Fitzroy is advancing multiple workstreams to support a potential near-term heap-leach development, including geotechnical studies, sterilization drilling, environmental baseline studies, metallurgy, mineral processing, and engineering. The company plans to submit its statement of environmental impact (DIA) and apply for an environmental permit in Q4 2026. A maiden Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA) are also expected in Q4 2026, with a Pre-Feasibility Study (PFS) planned for Q2 2027.
Merlin Marr-Johnson, President and CEO, commented, "Buen Retiro continues to improve as our understanding of the scale and potential of the Project grows. In just 24 months of fieldwork, we have defined a remarkably continuous body of leachable copper mineralization and we are advancing multiple avenues of study in parallel." He added that the project benefits from notable infrastructure advantages and has the potential to deliver low-capital-intensity, near-term copper production, contrasting with many new copper projects that require billions of dollars and a decade or more to reach production.
The significance of these results lies in their potential to accelerate the development of a low-cost copper operation at a time when global copper demand is rising, driven by electrification and renewable energy technologies. The high-grade intersections, particularly near surface, suggest the possibility of a simple heap leach operation that could produce copper cathode quickly and efficiently. If the upcoming MRE and PEA confirm the project's economics, Buen Retiro could become a notable near-term copper producer in Chile, one of the world's leading copper mining jurisdictions.
For a detailed view of the drill results, the company has provided See 1 of 2 and 2 of 2 tables, as well as cross-sections in Figure 2 and Figure 3. More information on Fitzroy Minerals can be found at www.fitzroyminerals.com, and the original release is available on www.newmediawire.com.
