Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported additional high-grade copper intersections from its Buen Retiro Copper Project in Copiapo, Chile, while outlining a series of development milestones that could position the project as a near-term copper producer. The results, released on October 5, 2026, come as the company advances multiple technical workstreams in parallel, including geotechnical studies, sterilization drilling, environmental baseline studies, metallurgy, and engineering.
The latest drilling highlights include BRT-DDH110, which intersected 30.5 metres at 2.48% copper from surface to the end of the hole, and BRT-DDH121, which returned 18 metres at 2.50% copper from 163 metres, including 10 metres at 4.00% copper. BRT-DDH117 intersected 166 metres at 0.37% copper from 81 metres, including 105 metres at 0.52% copper and 30 metres at 1.23% copper. These results are from the Nativo area, where drilling continues to demonstrate the scale and quality of the broader mineralized system. Full assay tables and cross-sections are available in the release, with See 1 of 2 and 2 of 2 providing the full data set.
Merlin Marr-Johnson, President and CEO of Fitzroy, commented: “Buen Retiro continues to improve as our understanding of the scale and potential of the Project grows. In just 24 months of fieldwork, we have defined a remarkably continuous body of leachable copper mineralization and we are advancing multiple avenues of study in parallel.” He added that the project offers a low-capital-intensity, near-term copper production opportunity at a time when many new copper projects require billions of dollars and a decade or more to reach production.
As of September 30, Fitzroy has completed 22,697 metres of diamond drilling and 2,780 metres of RC drilling in 2026, with three drill rigs currently active. The company expects to complete an additional 4,000 metres of drilling by year-end. The current program is focused on defining Measured and Indicated Resources at Tenorita and Inferred Resources at Nativo, Ortuzar, and the extensions of Tenorita.
In Q4 2026, Fitzroy plans to submit the statement of environmental impact (DIA) and publish a maiden Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA) that will encompass the Tenorita, Nativo, and Ortuzar areas. A Pre-Feasibility Study (PFS) with an updated MRE and maiden Mineral Reserve Statement is planned for Q2 2027. These milestones are critical for quantifying the project's potential and advancing it toward production. The PEA will incorporate Inferred Resources across the wider project area, reflecting the expanded scale of the opportunity.
Geological understanding has also advanced, with three distinct domains identified: Tenorita, Nativo, and Ortuzar. Mineralization at Tenorita and Nativo is centered on ferric breccias with widths of approximately 70 metres, and most of the mineralization intersected is copper oxide and mixed, down to depths of 120-150 metres. Ortuzar displays greater variability, with manto-style mineralization dipping approximately 30 degrees to the northwest. The north-south structure that characterizes Nativo appears to continue into Ortuzar, creating an oxidized portion to the north and east of the historical Manto Negro open pit.
The implications of these results are significant for the copper market. With global demand for copper rising due to electrification and renewable energy, new supply sources are urgently needed. Buen Retiro's advantages include its location in an established mining district with excellent infrastructure, which could enable rapid, low-cost production. Fitzroy's CEO noted that the project has the potential to deliver “the kind of low-capital-intensity, near-term copper production that the market urgently needs.”
For more information, visit the company's website at www.fitzroyminerals.com. The original release can be viewed at www.newmediawire.com.
