Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported encouraging initial metallurgical test results from its Buen Retiro Copper Project near Copiapo, Chile. The tests, conducted by SGS Laboratories, evaluated the response of three geometallurgical units—high-grade oxide, low-grade oxide, and mixed—to heap-leach processing. Mini-column testing achieved total copper recoveries of 71.8%, 59.9%, and 82.6% after 21 days, with low-to-moderate net acid consumption ranging from 3.4 to 11.2 kg/kg. These results are significant as they support the company's planned heap-leach development and could indicate a cost-effective processing route.
Preliminary results from ongoing 1-metre column tests are trending above the mini-column figures, with projections suggesting copper recoveries after 70 days of approximately 95% for mixed material, 85% for high-grade oxide, and 74% for low-grade oxide. These projections, if confirmed, could materially enhance the project's economics. Merlin Marr-Johnson, President and CEO of Fitzroy, commented, “These results exceed what we were hoping for from our first phase of metallurgical testing at Buen Retiro. Final copper recoveries of up to 82.6%, achieved with low acid consumption and excellent reproducibility across three separate Units in just 21 days, give us real confidence in the heap-leach case for the Project.”
The test program is staged, with 3,341 kg of samples undergoing 208 separate tests. The mini-column campaign is complete, with closed metallurgical balances. Duplicate tests returned copper extractions within 1 percentage point, confirming good reproducibility. The addition of chloride during agglomeration and leaching improved copper recoveries by 3 to 5 percentage points in both oxide units, identifying an optimization opportunity. Detailed data can be found in Table 1: Total Cu recovery and acid consumption by UGM, mini-columns, 21 days of leaching (closed data). and Table 2: Duplicate results of CuT extraction at 21 days of leaching, mini columns (closed).
Hardness testing returned Bond Work Indices below 8 kWh/t, indicating soft, easily-crushed material, which is favourable for lower crushing energy costs. Abrasivity indices are medium-to-moderate, suggesting predictable wear on equipment. These characteristics, combined with the metallurgical results, provide a solid technical basis for advancing the project.
The company plans to close out the 1-metre column balances by the end of September 2026, start 3-metre column testing in November 2026, and report final metallurgical results by March 1, 2027. These results will feed into a Pre-Feasibility Study (PFS) planned for release in Q2 2027. For investors, this news is important as it de-risks the heap-leach path and could lead to a lower-cost development scenario. The preliminary 1-metre column results, which are trending higher, are particularly encouraging. The full release is available at www.newmediawire.com, and additional figures are provided in Figure 1. 21 day mini-column total copper recovery (final assays). and Figure 2. Copper recovery of Chloride Leach Samples after 68 and 53 days (trends projected to 75 days), head analysis.
Overall, the positive metallurgical results and the potential for further optimization through chloride addition and extended leach times position Fitzroy Minerals favourably as it advances Buen Retiro toward development. The news matters to the mining industry as it demonstrates the viability of heap leaching for this deposit, which could serve as a model for similar projects in the region.
