Northwire Canada EditionSunday, September 27, 2026
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GOLD 4321.20 +0.5% SILVER 64.80 +1.2% COPPER 6.77 −0.3% OIL 92.41 −2.3% PALLADIUM 1276.00 −0.5% SMP 0.055 +0.0% NVX 1.10 +12.2% AORO 0.015 +0.0% HAWK 0.025 +25.0% LOD 0.400 +0.0% SBMI 0.135 +3.9% PA 0.160 +3.2% BARU 0.060 +9.1% MKA 0.800 +8.1% GCN 0.030 +0.0% IAU 2.48 +1.6% CS 14.54 −0.2% LGO 0.750 −22.7% REVX 1.99 +19.2% OMI 0.320 +12.3% VLD 0.430 +0.0% GOLD 4321.20 +0.5% SILVER 64.80 +1.2% COPPER 6.77 −0.3% OIL 92.41 −2.3% PALLADIUM 1276.00 −0.5% SMP 0.055 +0.0% NVX 1.10 +12.2% AORO 0.015 +0.0% HAWK 0.025 +25.0% LOD 0.400 +0.0% SBMI 0.135 +3.9% PA 0.160 +3.2% BARU 0.060 +9.1% MKA 0.800 +8.1% GCN 0.030 +0.0% IAU 2.48 +1.6% CS 14.54 −0.2% LGO 0.750 −22.7% REVX 1.99 +19.2% OMI 0.320 +12.3% VLD 0.430 +0.0%
Drill Results Routine +

Fitzroy Minerals Reports Channel Samples Averaging 2.96% Cu from Buen Retiro Historical Open Pit; Drilling Continues to Return Extensive Visible Copper Mineralization, Buen Retiro Copper Project, Chile

By The Northwire Desk — AI Analysis Jun 15, 2026 · 07:00 FTZ · 0.44 Fitzroy Minerals Inc.
Executive Summary
  • Fitzroy Minerals provided an exploration update on its 100%-owned Buen Retiro Copper Project in Chile, reporting channel samples averaging 2.96% Cu (maximum 10.68% Cu) from the historical open pit.
  • Historical drill hole BRT-DDH-013 intersected 30 m @ 3.52% Cu approximately 30-55 meters below the current pit floor, indicating substantial unmined transition material.
  • Drilling continues with three diamond rigs and an incoming reverse circulation rig. The company has drilled 10,048 m in 2026, exceeding the original 7,000 m plan.
  • Metallurgical test work is progressing toward mini-column results in July 2026, supporting a Pre-Feasibility Study (PFS) completion in Q1 2027.
  • Environmental Permit Application is scheduled for October 2026, with a production target of 2028.
  • Laboratory assay delays (60-70 days due to ALS Global congestion and border customs) are being mitigated by routing samples to SGS Laboratories in Santiago and using visual estimates for direct 'over-limit' analysis.
  • Not an earnings release — no new financial results to assess; prior-period context shows a comprehensive loss of $2.68M for the six months ended March 31, 2026, funded by a $21.155M private placement in March 2026.
Material Impact
  • The June 15, 2026 release confirms high-grade oxide and mixed copper mineralization, aligning with previous drill results (e.g., May 13: 78 m @ 1.70% Cu; April 16: 92.5 m @ 0.53% Cu).
  • The update validates the company's heap-leach/SX-EW strategy and the strategic partnership with Pucobre, which provides access to processing capacity and operating cost data.
  • The news is incremental and expected given the ongoing aggressive drilling program. It does not introduce fundamentally new valuation drivers, unexpected financial events, or changes to the project timeline.
  • The primary impact is the reinforcement of the 2028 production target and the de-risking of the metallurgical pathway. However, assay delays remain a operational friction point that could slow resource definition.
  • The market reaction is likely muted as the information is consistent with prior guidance and the company's stated exploration trajectory.
FTZ · Price
Company Overview
  • Fitzroy Minerals Inc. is a Canadian exploration and development company focused on copper projects in Chile.
  • Flagship Project: Buen Retiro Copper Project, located near Copiapó, Chile. The project features a district-scale IOCG system with oxide, mixed, and sulphide mineralization.
  • Development Strategy: Dual-track approach involving heap-leach/SX-EW development of oxide resources via a joint venture with Pucobre, alongside continued exploration of sulphide mineralization.
  • Secondary Project: Caballos Copper Project, a porphyry target with known Cu-Mo-Au mineralization, currently undergoing geophysical surveys and Phase 2 drilling.
  • Management: Led by President & CEO Merlin Marr-Johnson (30 years experience, ex-Rio Tinto, HSBC) and COO Gilberto Schubert (ex-Vale Country Manager Chile).
Read the original news release →

More from Fitzroy Minerals Inc.

Sep 23, 2026 · 07:01

Fitzroy reports 82.6% heap-leach recoveries at Buen Retiro, de-risking the project’s 2028 production path.

Technical Study Aug 20, 2026 · 09:30

Fitzroy reports shallow high-grade copper step-outs advancing resource drill-out, while RC extension results remain unassayed.

Drill Results Aug 13, 2026 · 09:13

Fitzroy’s Caballos IP survey de-risks a 5,500m drill program scheduled for September 2026.

Drill Results Jul 23, 2026 · 06:45

Fitzroy reports strong copper oxide grades at Buen Retiro from infill drilling, with no new zone expansion identified.

Drill Results Jun 29, 2026 · 07:00

Fitzroy reports expanded near-surface copper paydirt at Buen Retiro with repeated high-grade intersections already becoming the norm.

Drill Results May 13, 2026 · 09:41

Fitzroy Delivers Another High-Grade Oxide Hit as Buen Retiro Leach Study Takes Shape

Drill Results