Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results

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.

Oct 22, 2026 · 07:01

Fitzroy has identified nine new copper targets at its Buen Retiro project in Chile through magnetic lineament analysis.

Drill Results Oct 08, 2026 · 07:00

Fitzroy exercises warrants for C$1.95M to bolster its balance sheet ahead of a maiden resource estimate.

Financings Oct 05, 2026 · 07:00

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Drill Results Oct 01, 2026 · 07:00

Fitzroy uses warrant exercise proceeds to de-risk its Chilean heap-leach project as metallurgical results trend higher.

Financings 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