Fitzroy Minerals Reports 110 m @ 1.94% Cu, Including 58 m @ 3.06% Cu at the Buen Retiro Copper Project, Chile

Fitzroy Minerals (FTZ) announced promising drill results from its Buen Retiro Copper Project in Chile, with hole BRT-DDH022 intersecting 110 meters at 1.94% copper, including 58 meters at 3.06% copper, in oxide mineralization. These results, part of an ongoing drilling program, highlight the potential for a large-scale, high-grade copper system, with CEO Merlin Marr-Johnson noting the intersection highlights the intensity of copper mineralizing events at Buen Retiro and that the project is well-suited to rapid development due to its location and historical mining activity.

Analysis

Fitzroy Minerals Inc. has reported highly encouraging drill results from its Buen Retiro Copper Project in Chile, particularly from diamond drill hole BRT-DDH022 in the Southwest Area, which intersected 110 meters at 1.94% copper (Cu) starting at a shallow depth of 62 meters. This interval notably included a higher-grade section of 58 meters at 3.06% Cu. The mineralization is predominantly leachable green copper oxides, tenorite, cuprite, and chalcocite, indicating potential for straightforward metallurgical recovery. These results support the thesis of a large-scale, high-grade mineralizing system, with mineralization identified across several trends within a 1 km-wide by 4 km-long corridor. The CEO, Merlin Marr-Johnson, emphasized the intensity of copper mineralization and the project's suitability for rapid development due to its low elevation, flat terrain, historical mining activity, and proximity to significant infrastructure. Phase 2 drilling has completed nine holes totaling 2,105 meters, with ongoing drilling by two rigs (BRT-DDH024 and BRT-DDH025) and a target of at least 8,000 meters for 2025. Other notable results include BRT-DDH016 in the North Area, which intersected 59 meters at 0.39% Cu from surface. The company is also experiencing approximately six-week turnaround times for assays due to busy labs in Chile, and is considering an RC drill rig to accelerate exploration. The presence of cobalt (416 ppm Co over 110m in BRT-DDH022) offers potential future byproduct value, though its recovery from oxide material is currently unlikely. The exploration program maintains continuity from work done by Ptolemy Mining prior to its acquisition by Fitzroy.

Key Decisions for Investors

• The reported high-grade, wide copper intercepts, particularly in BRT-DDH022, significantly enhance the Buen Retiro Project's exploration upside and warrant a positive outlook on Fitzroy Minerals' near-term prospects.
• Investors should monitor upcoming assay results from ongoing and planned drilling, especially in the Southwest and North areas, as these will be critical for delineating the extent and continuity of the mineralization and de-risking the project.
• Consider the project's advantageous location, historical mining context, and proximity to infrastructure, which could support a faster development timeline and lower initial capital expenditure should a resource be defined.
• Factor in the current six-week assay turnaround times, which may lead to intermittent news flow, and the inherent risks associated with early-stage exploration, despite the promising results.