Fitzroy Minerals Inc. (TSXV: FTZ, OTCQB: FTZFF) has announced the latest drilling results from its Buen Retiro and Caballos copper projects in northern Chile, with significant extensions to the oxide zone at Buen Retiro and new sulphide mineralization that the company compares to the nearby Candelaria copper mine.
At Buen Retiro, the company completed Phase 2 drilling with 8,300 metres of diamond drill core across 29 holes and 9,822 metres of reverse circulation drilling. Results from holes 40 to 43, reported in a news release dated February 9, 2026, include drill hole BRT-DDH041 which intersected 108 metres at 0.41% copper and 156 ppm cobalt from 30 metres, including 48 metres at 0.77% copper and 241 ppm cobalt from 60 metres. Drill hole BRT-DDH043 returned 77 metres at 0.46% copper from 196 metres, including 20 metres at 0.97% copper and 139 ppm cobalt from 201 metres.
These sulphide intersections are relatively shallow and, according to President and CEO Merlin Marr-Johnson, are defining a completely new exploration target of Candelaria-style mineralization. He noted that some results are similar to the Candelaria open pit grades as reported by Lundin Mining in its 2024 annual report, which stated open pit measured and indicated resources of 591.6 million tonnes at 0.37% copper and 0.09 g/t gold.
Reverse circulation drilling in the southwest area, originally intended as condemnation holes for potential infrastructure, unexpectedly extended the oxide mineralization trend by 300 metres to a total strike length of 1.7 kilometres. Drill hole BRT-RCD008 intersected 213 metres at 0.19% copper and 199 ppm cobalt from 3 to 216 metres, including 85 metres at 0.33% copper and 111 ppm cobalt from 3 metres. This area will now be explored further.
The company has signed new drilling contracts for a minimum of 10,400 metres of diamond drilling and 3,000 metres of reverse circulation drilling planned for 2026. A ground passive seismic survey is also planned to assist with sulphide drill-targeting at depth. Discussions continue with Sociedad Punta del Cobre S.A. regarding a Heap Leach Joint Venture, and a decision has been made to complete a Pre-Feasibility Study meeting NI 43-101 requirements.
At the Caballos project, Phase 1 drilling has been completed with 3,154 metres of diamond core across nine holes. Drill hole CAB-DDH009 intersected 70 metres at 0.41% copper equivalent (0.18% Cu, 374 ppm Mo, 0.04 g/t Au) from 85 metres in the Estero Chincolco hydrothermal breccia. The core exhibits porphyry textures, alteration, and mineralization, and an airborne MobileMT geophysical survey has been commissioned for Q1 2026 to help map subsurface geology and guide Phase 2 drilling later in the year.
Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas. The company's shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under the symbol FTZFF.
