Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has provided an exploration update from its 100%-owned Buen Retiro Copper Project near Copiapo, Chile, reporting high-grade channel samples and ongoing drilling success. The company announced that 21 one-metre channel samples collected from the historical Buen Retiro open pit returned an average grade of 2.96% Cu, with a maximum of 10.68% Cu. Historical drill hole BRT-DDH-013 returned 7 m @ 2.78% Cu from 130 m and 30 m @ 3.52% Cu from 141 m downhole, approximately 30-55 metres below the current pit floor.
Drill hole BRT-DDH099, located 70 m south of the pit, intersected 113 m of tenorite mineralization from 3.5 m downhole, estimated to average approximately 1.0% Cu and sent for 'over-limit' analysis. Three diamond drill rigs are currently on site, with a reverse circulation rig to be added next week, targeting a total of 5,000 m of drilling in the Pit Area for inclusion into the Project Development Plan. The company plans to apply a data cut-off at the end of July for resource drilling, with the Environmental Permit Application scheduled for October 2026 and the Pre-Feasibility Study on track for Q1 2027.
Metallurgical test work is underway, with initial column results expected in July. The company is mitigating assay delays by sending Pit Area samples to SGS Laboratories in Santiago, Chile, and using in-field visual grade estimation to request 'over-limit' analysis for samples estimated above 0.9% Cu. CEO Merlin Marr-Johnson highlighted that the copper mineralization at Buen Retiro benefits from proximity to infrastructure, low elevation, and a pro-mining jurisdiction in Chile.
The Fleet Space Technologies Ambient Noise Tomography infill survey was completed in May, identifying zones of elevated fracturing and alteration. Fitzroy continues to work with Pucobre S.A. on engineering and commercial aspects of the Heap Leach Development Plan. The company has drilled 10,048 m at Buen Retiro in 2026, expanding the known mineralization envelope. The Qualified Person, Dr. Scott Jobin-Bevans, has reviewed and approved the technical information in this release. For further details, visit the company's website at www.fitzroyminerals.com.
