Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced an expansion of its 2026 drill program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters, following continued high-grade intercepts near surface. The company reported results from nine drill holes in the Southwest Area, including significant intersections that underscore the project's potential for development.
Drill hole BRT-DDH052 returned 59.0 meters at 1.73% copper from 92.0 meters, including 12.0 meters at 5.39% copper from 136.0 meters. Drill hole BRT-DDH062 intersected 76.0 meters at 0.74% copper from 69.0 meters, including 13.0 meters at 3.62% copper from 106.0 meters. These results add to a growing body of evidence that the project hosts a well-mineralized system with shallow, leachable material near existing infrastructure.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, highlighted the significance of the findings: "Results of this calibre, news release after news release, are the hallmark of a well mineralized system. What makes it so valuable is that this is near-surface, leachable material, near infrastructure in Chile. We see a route to near-term copper cathode production with reduced capital requirements and reduced permitting timelines."
The company is evaluating a plan to produce a soluble copper sulphate concentrate on site, which could then be trucked and processed into copper cathode at any of three Electro-Win (EW) plants within a 90-kilometer radius. This approach could accelerate production and lower upfront costs compared to traditional mining operations.
Since February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, comprising 49 infill holes, six geotechnical holes, and 12 exploration holes. The ongoing drilling aims to define mineralization for a maiden mineral resource estimate, but the program has been expanded as new discoveries continue to extend the known mineralization. Currently, two rigs are testing extensions of the Southwest Area with step-outs to the northwest and southeast.
To address laboratory turnaround delays of up to three months at ALS Global, Fitzroy has contracted SGS Laboratories for samples from the Pit Area, ensuring data integrity for the two main areas of interest. The company also relies on visual estimation of grade for planning exploration holes.
Drill holes 22, 50, and 52 have intersected a body of high-grade mineralization truncated at depth by a fault. Notably, drill hole BRT-DDH022, reported on June 6, 2025, returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper from 97 meters. Assays from drill hole 88 are pending.
Fitzroy Minerals is focused on copper exploration in the Americas, with a portfolio that includes the Buen Retiro project in Chile, the Caballos Copper and Polimet Gold-Copper-Silver projects in Valparaiso, Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in British Columbia, Canada.
The expanded drill program and continued high-grade results position Fitzroy to potentially advance Buen Retiro toward development, offering a compelling opportunity in the copper market amid growing demand for the metal in electrification and renewable energy technologies.
