Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has provided an update on its definition drilling, metallurgical test work, and geophysical survey at the Buen Retiro Copper Project in Copiapo, Chile. The company is advancing toward a maiden mineral resource estimate and a pre-feasibility study (PFS).
Drill hole BRT-DDH048 returned 92.5 metres at 0.53% copper from 3.5 metres, including 46.0 metres at 0.82% copper from 36.0 metres. Drill hole BRT-DDH049 returned 83.0 metres at 0.57% copper from 95.0 metres, including 43.0 metres at 0.90% copper from 95.0 metres. These results highlight the consistency of the copper-mineralized package in the southwest area, which is approximately 80-90 metres thick, with a higher-grade central core.
The company has completed 32 new diamond drill holes (5,143 metres) in the southwest area, with assays pending for many. The definition drilling program aims to delineate sufficient material in the Measured and Indicated resource categories to support a robust life-of-mine plan for the heap leach project and inclusion in the PFS. Additional drilling will target Inferred Resources that may contribute to future mine life.
Metallurgical test work has begun at SGS Laboratories on a 2,900 kg representative sample. Three primary geo-metallurgical domains have been defined: a higher-grade oxide domain (≥0.5% Cu), a lower-grade oxide domain (0.10-0.5% Cu), and a mixed supergene transition domain. The program includes variability analysis, permeability testing, column leach testing, and acid consumption evaluation.
A regional passive seismic Ambient Noise Tomography (ANT) geophysical survey by Fleet Space Technologies has been completed across a 5 km x 5 km area, with processing and interpretation underway. A higher-resolution survey over a central 2 km x 3 km area will follow to refine priority targets. The ANT survey is a step forward in the hunt for a major sulphide discovery at Buen Retiro.
President and CEO Merlin Marr-Johnson commented: "The resource definition drilling is advancing quickly and has intersected many samples that exceed the ALS laboratory 1% Cu maximum limit for 'exploration' assay methods in the southwest area. The start of metallurgical test work for the PFS is a milestone event. Our aim is to leverage potential future cash flow from the Buen Retiro Heap Leach copper operation to fund continued exploration for major copper deposits in Chile with minimal dilution."
The company plans to complete definition drilling in May, after which one drill rig will start at least 8,000 metres of Phase 3 exploration drilling to test ANT targets, while another will execute a 2,000-metre geotechnical program. The copper-mineralized package dips approximately 75 degrees to the east-northeast, with oxidation depths mostly a function of fracture density.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person under NI 43-101, has reviewed and approved the technical information. Fitzroy Minerals is focused on copper-focused mineral assets in the Americas, including the Buen Retiro, Caballos, and Taquetren projects.
