Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) reported results from 15 drill holes at the Tenorita area of the Buen Retiro Copper Project in Copiapo, Chile, revealing wide zones of mineralization in leachable material close to surface. The company has four drill rigs operating at the site, with three diamond drill (DD) rigs and one reverse circulation (RC) rig.
Drill hole BRT-DDH072 returned 111.9 meters at 0.97% copper from 21.1 meters depth, including 18.0 meters at 1.59% copper from 84 meters. Drill hole BRT-DDH070 intersected 147.7 meters at 0.41% copper from 26.3 meters, including 47.0 meters at 0.88% copper from 113 meters. Merlin Marr-Johnson, President and CEO, noted that hole 72 is east of hole 70, confirming consistent shallow mineralization across approximately 300 meters at the widest part of the Tenorita area.
The company has completed 78 diamond drill holes totaling 13,036 meters since February 2026. Fitzroy plans an additional 9,000 meters of drilling in 2026 with three objectives: advancing Tenorita to Measured, Indicated, and Inferred resource categories for a Pre-Feasibility Study; defining Inferred resources elsewhere on the property; and testing new exploration targets. The team aims to complete the drill-out of Tenorita in August to stay on track for production in early 2028.
The Tenorita area is a 1.7 km trend of copper mineralization southwest of the historical Manto Negro open pit. Recent drilling, including previously reported holes BRT-DDH027 (133 m at 0.46% Cu from 22 m) and BRT-DDH058 (75 m at 0.82% Cu from 9 m), indicates broad, shallow mineralization covering approximately 300 meters east-west in the south-central portion of the area.
Fitzroy follows rigorous QA/QC procedures, including insertion of blanks, pulp duplicates, and certified copper standards representing about 12% of total core samples. The company uses ALS-Patagonia laboratory in Copiapo and plans to introduce a secondary laboratory in subsequent drilling stages. No significant QA/QC issues were identified. The Qualified Person, Dr. Scott Jobin-Bevas (P.Geo., Ph.D., PMP), reviewed and approved the technical information.
These results strengthen the potential for a near-surface, leachable copper resource at Buen Retiro, which could support a low-cost mining operation. For the mining industry, the project highlights the continuing exploration success in Chile's copper-rich regions and the viability of developing open-pit, leachable deposits. The company's aggressive drilling program and timeline toward production in early 2028 could position it as a near-term copper producer, benefiting from strong global demand for copper in renewable energy and electrification.
