Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported high-grade copper drill results from its advanced Buen Retiro Copper Project near Copiapó, Chile, including a standout intercept of 30.5 metres at 2.48% copper from surface in hole BRT-DDH110. The company has completed 22,697 metres of diamond drilling and 2,780 metres of RC drilling at the project as of September 30, 2026. A maiden Mineral Resource Estimate and a Preliminary Economic Assessment are both targeted for Q4 2026, milestones that investors may be watching closely.

Key Points

  • Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y)
  • Drill hole BRT-DDH110 returned 30.5 metres at 2.48% copper from surface at the Nativo area of Buen Retiro, ending in mineralisation due to technical issues
  • Maiden MRE and PEA targeting Q4 2026; Pre-Feasibility Study planned for Q2 2027; environmental permit application also targeted for Q4 2026
  • Investors may be watching for the maiden MRE and PEA publications, which the company states will cover the Tenorita, Nativo, and Ortúzar areas

High-Grade Nativo Area Results Underpin Buen Retiro Copper Potential

The latest batch of results, covering drill holes BRT-DDH101 through BRT-DDH128, highlights the Nativo area as a particularly significant zone of copper mineralisation. Beyond the headline intercept in BRT-DDH110, hole BRT-DDH121 returned 18 metres at 2.50% copper from 163 metres, including 10 metres at 4.00% copper, while BRT-DDH117 intersected 166 metres at 0.37% copper from 81 metres, including 30 metres at 1.23% copper from 144 metres. The company notes that Nativo merges with the Tenorita trend to the south and extends north into the historical Manto Negro open pit, indicating a potentially large, interconnected mineralised system.

Three Geological Domains Identified Across the Buen Retiro System

As drilling has advanced, Fitzroy's technical team has defined three distinct geological domains at Buen Retiro: Tenorita, Nativo, and Ortúzar. Tenorita strikes north-northwest, dips steeply east, and remains open to the southeast. Nativo strikes north-south and is subvertical. Ortúzar is geologically distinct, displaying disseminated manto-style mineralisation dipping at approximately 30 degrees to the northwest, with a shallower depth of oxidation. The release states that most mineralisation at Tenorita and Nativo is copper oxide and mixed oxide-sulphide down to 120–150 metres, supporting the company's heap-leach development concept.

Heap-Leach Development Workstreams and Permitting Progress at Buen Retiro

In parallel with ongoing exploration, Fitzroy states it is advancing geotechnical studies, sterilisation drilling, environmental baseline studies, metallurgy, mineral processing, and engineering to support a potential near-term heap-leach operation. The company has expanded its environmental baseline studies as the perceived scale of the project has grown. The statement of environmental impact — a required environmental permit application in Chile — is targeted for submission in Q4 2026, alongside the maiden MRE and PEA. A Pre-Feasibility Study incorporating an updated MRE and maiden Mineral Reserve Statement for the central Tenorita area is planned for Q2 2027.