Fitzroy Minerals Expands Drill Program to 22,000 Meters at Buen Retiro Copper Project in Chile, Hits High-Grade Near-Surface Mineralization

Fitzroy Minerals Inc. has reported continued high-grade copper intersections at its Buen Retiro Copper Project in Copiapo, Chile, and expanded its 2026 drilling program to approximately 22,000 meters, the company announced June 29.

Drilling is ongoing with three diamond drill rigs on site, and a reverse circulation rig is expected to be added shortly. The expansion comes as the company continues to intersect shallow mineralization, pushing the boundaries of the resource definition program.

Highlights from the latest nine drill holes in the Southwest Area include drill hole BRT-DDH052, which returned 59.0 meters grading 1.73% copper from 92.0 meters depth, including a 12.0-meter interval at 5.39% copper from 136.0 meters. Drill 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.

“I am delighted that we continue to see good results from Buen Retiro,” said Merlin Marr-Johnson, President and CEO of Fitzroy Minerals. “This time the intersections close to surface include intercepts of 59 metres at 1.73% Cu in drill hole 52 and 76.0 m at 0.74% Cu in drill hole 62.”

Marr-Johnson emphasized the significance of the near-surface, leachable material located near infrastructure in Chile. “We see a route to near-term copper cathode production with reduced capital requirements and reduced permitting timelines,” he said. The company is evaluating a plan to produce a soluble copper sulphate concentrate at site that could be trucked to one of three electro-winning plants within a 90-kilometer radius.

Since February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, comprising 49 infill holes, six geotechnical holes, and 12 exploration holes. The work is aimed at defining mineralization for a maiden mineral resource estimate, focused on the Southwest Area, which continues to expand as more mineralization is discovered.

To address slow laboratory turnaround times of up to three months at ALS Global, Fitzroy has contracted SGS Laboratories for samples from the Pit Area, ensuring data integrity by using a single laboratory for each main area of interest.

The company also reported that drill holes 22, 50, and 52 intersect a body of high-grade mineralization truncated at depth by a fault. Drill hole BRT-DDH022, reported on June 6, 2025, returned 110 meters at 1.94% copper from 62 meters, including 58 meters at 3.06% copper from 97 meters. Assays from drill hole 88 are pending.

Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas. The company’s portfolio includes the Buen Retiro Copper Project, the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in British Columbia, Canada.

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