Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF) reported wide copper mineralization intervals from its Buen Retiro copper project in northern Chile, providing an update on exploration progress. Drill hole BRT-DDH045 intersected 384 meters at 0.22% copper from 4 meters, including 94 meters at 0.33% copper from 30 meters, demonstrating consistent copper mineralization in two distinct styles.
The company is advancing toward a maiden mineral resource estimate, with infill drilling underway totaling approximately 6,000 meters expected to complete in April. A 2,800-kilogram bulk sample has been prepared for heap leach metallurgical test work at SGS Laboratories, beginning in late March. Additionally, a passive seismic survey by Fleet Space Technologies will start soon to aid litho-structural interpretation for deeper sulfide targeting.
Merlin Marr-Johnson, President and CEO, commented that the results provide compelling evidence that Buen Retiro is a major copper system, located on a brown-fields site at low elevation near the Pan-American Highway, high-voltage transmission lines, and the coast, with access to a proposed desalination plant and the mining center of Copiapo. The company aims to leverage potential cash flow from a heap leach operation to fund further exploration with minimal dilution.
At the Caballos copper project, an airborne MobileMT geophysical survey has been completed, with data interpretation ongoing, and phase 2 drilling is scheduled later in the year. Fitzroy Minerals is focused on exploring copper assets in the Americas, including the Buen Retiro and Caballos projects in Chile, the Polimet project in Valparaiso, the Taquetren gold project in Argentina, and the Caribou project in British Columbia.
Dr. Scott Jobin-Bevans, a qualified person under NI 43-101, has reviewed and approved the technical information. The company follows strict QA/QC procedures, including insertion of blanks, standards, and duplicates, with no significant issues identified.
For more information, visit www.fitzroyminerals.com.
