Northwire Canada EditionSaturday, July 11, 2026
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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Drill Results Routine +

Fitzroy Minerals Continues with 2-Rig Definition Drilling, Intercepting 92.5 m at 0.53% Cu from 3.5 m, as it Moves Toward a Maiden Mineral Resource Estimate and Initial Economic Study at the Buen Retiro Copper Project, Chile

Fitzroy Minerals Advances Buen Retiro Heap-Leach PFS with Definition Drilling Results

By The Northwire Desk — AI Analysis Apr 16, 2026 · 07:00 FTZ · 0.465 Fitzroy Minerals Inc.
Executive Summary
  • Drilling Progress: Fitzroy Minerals continues definition drilling at the Buen Retiro Copper Project in Chile using two rigs. Recent intercepts include 92.5 m @ 0.53% Cu (including 46.0 m @ 0.82% Cu) and 83.0 m @ 0.57% Cu (including 43.0 m @ 0.90% Cu).
  • Resource Estimation: The company is moving toward a Maiden Mineral Resource Estimate and an Initial Economic Study (Pre-Feasibility Study or PFS).
  • Metallurgical Testing: SGS Laboratories has commenced metallurgical test work on a 2,900 kg representative sample to support the PFS. Three geo-metallurgical domains have been defined: Higher-Grade Oxide, Lower-Grade Oxide, and Mixed Supergene Transition.
  • Geophysics: A Fleet Space Technologies passive seismic ANT geophysical survey over a 5 km x 5 km area is complete; data processing is underway.
  • Future Plans: Definition drilling expected to conclude in May. One rig will transition to Phase 3 exploration (minimum 8,000 metres) targeting sulphide mineralization. A second rig will execute geotechnical drilling.
Material Impact
  • Validation of Strategy: The news confirms the company is executing on its March 2026 financing plan ($21M raised), specifically allocating capital to definition drilling and metallurgical testing required for a PFS. This validates the use of proceeds announced previously.
  • De-risking Milestone: Commencing metallurgical test work for a heap-leach PFS is a critical de-risking step for a junior miner moving toward development. It confirms the feasibility of the oxide mineralization strategy with partner Sociedad Punta del Cobre S.A.
  • Grade Confirmation: Intercepts in the 0.5% Cu range are consistent with heap-leach economics, supporting the company's narrative that Buen Retiro is analogous to major Chilean systems like Candelaria.
  • Market Expectation: Given the financing closed in March and drilling was ongoing, this update is largely expected by the market. It does not introduce a new discovery or unexpected financial event but confirms progress on the established timeline.
FTZ · Price
Company Overview
  • Company: Fitzroy Minerals Inc. (TSX-V: FTZ, OTCQX: FTZFF).
  • Flagship Project: Buen Retiro Copper Project (Chile).
    • Type: Heap Leach Joint Venture with Sociedad Punta del Cobre S.A.
    • Status: Definition drilling and PFS preparation.
    • Geology: IOCG-style mineralization, analogous to the Candelaria mine. Oxide copper zones suitable for heap leaching.
  • Secondary Project: Caballos Copper Project (Chile).
    • Type: Porphyry exploration (Cu-Mo-Au-Re).
    • Status: Early-stage drilling and geophysical surveys.
  • Other Assets: Polimet, Taquetren (being divested to focus on copper).
Read the original news release →

More from Fitzroy Minerals Inc.

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 Jun 15, 2026 · 07:00

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Drill Results May 13, 2026 · 09:41

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

Drill Results Apr 29, 2026 · 07:00

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Drill Results Apr 23, 2026 · 07:00

Fitzroy Minerals Secures Processing Access for Buen Retiro, De-Risking Heap Leach Pathway

Other Apr 02, 2026 · 16:07

Fitzroy receives $1.03-million from warrant exercise

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