Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced an expansion of its drill program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters in 2026, following continued high-grade copper intersections. The company reported results from nine drill holes in the Southwest Area, including hole BRT-DDH052 which returned 59.0 meters at 1.73% copper from 92.0 meters, including 12.0 meters at 5.39% copper from 136.0 meters. Hole BRT-DDH062 returned 76.0 meters at 0.74% copper from 69.0 meters, including 13.0 meters at 3.62% copper from 106.0 meters.
The expansion reflects the company's success in delineating shallow, leachable mineralization near infrastructure. Fitzroy now estimates drilling 22,000 meters in 2026, up from previous plans, as three diamond drill rigs and a soon-to-be-added reverse circulation rig continue operations. The company has completed 67 drill holes totaling 10,583 meters since February 2026, comprising infill, geotechnical, and exploration holes.
President and CEO Merlin Marr-Johnson highlighted the significance of the near-surface intercepts, stating that the results demonstrate a well-mineralized system. He noted that the near-surface, leachable material near infrastructure in Chile offers a route to near-term copper cathode production with reduced capital and permitting timelines. One plan under evaluation involves producing a soluble copper sulphate concentrate at site, which could be trucked to one of three electro-winning plants within a 90-kilometer radius. The company plans to release monthly drill results as it progresses.
Drilling has intersected a high-grade mineralized body truncated by a fault, as seen in holes 22, 50, and 52. Hole BRT-DDH022, reported earlier, returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper. Other notable results include hole 54 with 80.2 meters at 0.65% copper from 20.8 meters, including 22.0 meters at 1.32% copper, and hole 61 with 49 meters at 0.92% copper from 67 meters.
To address laboratory delays, Fitzroy has contracted SGS Laboratories for samples from the Pit Area, while ALS Global continues to handle other samples. The company uses visual estimation for exploration holes to mitigate turnaround times. Quality assurance/quality control procedures include insertion of blanks, standards, and duplicates, representing about 12% of samples. No issues were identified in recent QA/QC reviews.
The expansion of the drill program underscores Fitzroy's commitment to defining a maiden mineral resource estimate, which has been pushed out as more mineralization is discovered. The company's focus on near-surface, leachable copper in a mining-friendly jurisdiction positions it to potentially become a near-term producer, a development that could impact the copper supply chain in the region.
