Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported further high-grade copper intersections from ongoing drilling at its Buen Retiro Copper Project in Copiapo, Chile, results that could materially enhance the project's economics as the company prepares its maiden Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA). The latest assays from diamond drill holes BRT-DDH129 to BRT-DDH167 and reverse circulation holes BRT-RCD020 to BRT-RCD032 are expected to be incorporated into the MRE, which will cover the Tenorita, Nativo, and Ortuzar areas.
The standout result was hole BRT-DDH134, which returned 64 meters at 2.00% copper from 127 meters, including 41 meters at 3.05% copper from 133 meters. According to the company, this high-grade zone overlaps with historical hole BRT-DDH013, which intersected 30 meters at 3.52% copper, including 12 meters at 5.00% copper, highlighting a zone of strong mineralization over a true width of approximately 50 meters at the base of the historical Manto Negro open pit. The presence of abundant native copper in the richest interval may mean reported assays understate actual copper content, as native copper can be lost during sample preparation; ongoing metallurgical test work on bulk samples will calibrate the copper content in the mixed supergene zones.
Other notable intersections include 107 meters at 0.48% copper from 10 meters in BRT-DDH146, including 37 meters at 0.96% copper from 44 meters; 109 meters at 0.41% copper from 20 meters in BRT-DDH133, including 13 meters at 1.10% copper from 112 meters; and 179 meters at 0.26% copper from 30 meters in BRT-DDH143, plus 86 meters at 0.22% copper from 272 meters. The mineralization in these holes is largely near-surface, leachable oxide and mixed oxide-sulphide material that is amenable to low-cost processing, which could support a low-cost mining operation.
CEO Merlin Marr-Johnson said the results are "stand-out" and noted the overlap with historical high-grade intervals. "These results are in near-surface, leachable material that is amenable to low-cost processing," he said. "We are really looking forward to publishing our maiden mineral resource estimate and associated PEA soon." The PEA, expected to be based on the MRE, will provide investors with an initial assessment of the project's potential economics.
Fitzroy has completed 25,634 meters of diamond drilling and 5,555 meters of RC drilling in 2026 as of November 5, for a total of 31,189 meters. Two diamond rigs are focused on infill drilling to convert Inferred Resources to Measured and Indicated categories, while one RC rig is testing new targets and sterilizing areas. An additional 3,300 meters of diamond drilling is planned for resource conversion, and a 5,000-meter sulphide exploration program is underway. Detailed cross-sections, such as Figure 2. Cross-section B-B’ through the historical Manto Negro open pit, including drill holes BRT-DDH013, BRT-DDH111, and BRT-DDH134 (see Figure 1), Buen Retiro, Copiapo, Chile (UTM WGS84 19S). and Figure 3. Cross-section A-A’, including drill holes BRT-RCD030, BRT-DDH131, and BRT-DDH135 (see Figure 1), Buen Retiro, Copiapo, Chile (UTM WGS84 19S)., illustrate the geological controls on mineralization.
The implications are significant: the high-grade, near-surface copper mineralization could support a low-cost, high-margin operation, and the ongoing drilling is designed to expand and upgrade the resource base ahead of the MRE and PEA. With a Pre-Feasibility Study planned for Q2 2027, Fitzroy is positioning Buen Retiro as a potentially robust copper project in Chile, one of the world's premier copper jurisdictions. The company's shares trade on the TSX Venture Exchange under the symbol FTZ. For more information, visit www.fitzroyminerals.com.
