202626 releases
Fitzroy Minerals and Fleet Space Technologies Use Machine-Learning to Define 9 Untested Targets at the Buen Retiro Copper Project, Chile
Fitzroy Minerals reports results of an integrated seismic and machine-learning targeting study, completed with Fleet Space Technologies, at its Buen Retiro Copper Project near Copiapó, Chile. The model identified nine new, untested target areas within 400 metres of surface, and Fitzroy has started a 5,000-metre diamond and RC drilling program to test them.
Drill resultsStonegate Capital Partners Initiates Coverage on Fitzroy Minerals
Stonegate Capital Partners has initiated research coverage on Fitzroy Minerals, publishing an initiation report on the company. Fitzroy trades as TSXV: FTZ, OTCQX: FTZFF and FSE: C3Y.
NewsFitzroy Minerals Raises Over C$1.95 Million Through Full Early Exercise of Warrants
Holders of all 7,804,036 warrants and finder's warrants issued under Fitzroy Minerals' October 16, 2024 private placement have exercised early at $0.25 per share, ahead of the October 16, 2026 expiry, generating proceeds of approximately C$1,951,009. The funds will go toward work programs at the Buen Retiro Copper Project near Copiapó, Chile and the Caballos Copper Project in Valparaiso, Chile. The company expects to publish a maiden Mineral Resource Estimate and Preliminary Economic Assessment for Buen Retiro in coming months.
FinancingFitzroy Minerals Reports 30.5 metres of 2.48% Cu from Surface and Provides an Update for its Advanced Buen Retiro Copper Project, Chile
Drilling at the Buen Retiro copper project near Copiapó, Chile returned 30.5 m at 2.48% Cu from surface to end of hole in BRT-DDH110, 18 m at 2.50% Cu from 163 m in BRT-DDH121 (including 10 m at 4.00% Cu), and 166 m at 0.37% Cu from 81 m in BRT-DDH117, including 30 m at 1.23% Cu. As of September 30, 22,697 m of diamond and 2,780 m of RC drilling were completed in 2026. An environmental permit application (DIA), maiden resource estimate and PEA are due in Q4 2026, with a pre-feasibility study in Q2 2027.
Drill resultsFitzroy Minerals raises over C$1.56 million through warrant exercise
Holders of 98.95% of the warrants issued under the September 20, 2024 private placement exercised before the September 20, 2026 expiry, with 6,257,243 of the 6,323,911 warrants and finder's warrants exercised at $0.25 per share for proceeds of approximately C$1,564,311. Funds are directed to work programs at the Buen Retiro Copper Project near Copiapó, Chile and the Caballos Copper Project in Valparaiso, Chile. The company also granted 4,200,000 stock options at $0.455 per share, exercisable until October 1, 2031 and vested immediately.
FinancingFitzroy Minerals Reports Copper Recoveries of up to 82.6% from Mini-Column Testing, with Preliminary Larger-Scale Results Trending Higher, at the Buen Retiro Copper Project, Chile
Mini-column metallurgical testing by SGS at the Buen Retiro Copper Project in Copiapó, Chile returned 21-day total copper recoveries of 71.8% (high-grade oxide), 59.9% (low-grade oxide) and 82.6% (mixed), at net acid consumption of 3.4 to 11.2 kg H+/kg Cu. Preliminary 1-metre column tests trend toward about 85%, 74% and 95% respectively after 70 days. Bond Work Indices were below 8 kWh/t. Final metallurgical report is expected by March 1, 2027, feeding a PFS planned for Q2 2027.
Study resultsFitzroy Minerals Intersects Highest Grade Copper to Date and Extends the Strike Length of the Main Mineralized Trend to 1.9 km at the Buen Retiro Copper Project, Chile
Drilling at the Buen Retiro copper project near Copiapó, Chile returned 105.0 m at 0.74% Cu from 58.0 m in BRT-DDH094 (including 12.0 m at 3.01% Cu), 8.8 m at 3.70% Cu from 30.0 m in BRT-DDH095 (including 1.0 m at 21.84% Cu, the highest grade to date), and 83.0 m at 0.46% Cu from 69.0 m in BRT-DDH099. RC hole BRT-RCD020 extended the main Tenorita trend by 200 metres to 1.9 km. Fitzroy has completed 92 holes for 16,376 m since February 2026 and targets 22,000 m in 2026.
Drill resultsDeep IP Survey Identifies Multiple Large Chargeability Anomalies Linked to Copper-Molybdenum-Gold Drill Hole Intercepts at the Caballos Copper Project, Chile
A ground-based deep induced polarization and magnetotellurics survey covering four lines totalling 18.4 line-km at the Caballos Copper Project, Valparaiso Region, Chile, identified chargeability and resistivity anomalies labelled C1, C2-A, C2-B, C3 and C4, including a 3 km-wide C2-B anomaly and a shallow C4 anomaly about 1 km wide and 1 km deep. Five diamond drill holes totalling 5,514 metres are planned to test C2-B, C3, C4 and Chincolco Creek, with drilling anticipated to start in September 2026.
Drill resultsFitzroy Minerals Engages the Howard Group for Digital Marketing Services
A digital marketing services agreement has been signed with The Howard Group, which will create and manage online programs and targeted advertising to increase investor awareness of Fitzroy Minerals. The Howard Group will be paid CAD$7,000 per month plus applicable taxes, with advertising costs estimated at approximately $5,000 per month in addition. The initial term runs six months to January 31, 2027, renewable month-to-month at the same fee, with no securities issued as compensation; TSX Venture Exchange approval is required.
CorporateFitzroy Minerals Intersects 111.9 m at 0.97% Cu from 21.1 m, Including 18.0 m at 1.59% Cu from 84.0 m at the Buen Retiro Copper Project, Chile
Drilling at the Buen Retiro Copper Project near Copiapó, Chile returned 111.9 m at 0.97% Cu from 21.1 m in hole BRT-DDH072, including 18.0 m at 1.59% Cu from 84.0 m, and 147.7 m at 0.41% Cu from 26.3 m in hole BRT-DDH070, including 47.0 m at 0.88% Cu from 113.0 m. Results cover 15 holes in the newly named Tenorita area, a 1.7 km trend southwest of the historical Manto Negro pit. Fitzroy has completed 78 diamond holes totalling 13,036 m since February 2026 and plans a further 9,000 m in 2026, with four rigs turning and the Tenorita drill-out targeted for completion in August.
Drill resultsFitzroy Minerals Intersects 59.0 m at 1.73% Cu from 92.0 m, Including 12.0 m at 5.39% Cu from 136.0 m, and Expands the Drill Program to 22,000 m, at the Buen Retiro Copper Project, Chile
Drilling at the Buen Retiro Copper Project near Copiapó, Chile returned 59.0 m at 1.73% Cu from 92.0 m in BRT-DDH052, including 12.0 m at 5.39% Cu from 136.0 m, and 76.0 m at 0.74% Cu from 69.0 m in BRT-DDH062, including 13.0 m at 3.62% Cu. Results from nine holes in the Southwest Area were reported. The 2026 exploration and resource definition program has been expanded to approximately 22,000 m, with 67 holes totalling 10,583 m completed since February 2026.
Drill resultsFitzroy 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
Twenty-one channel samples from the historical open pit at the 100%-owned Buen Retiro copper project near Copiapó, Chile averaged 2.96% Cu, with 17 above 1.0% Cu, four above 5.0% Cu and a maximum of 10.68% Cu. Drill hole BRT-DDH099, 70 m south of the pit, intersected 113 m of tenorite mineralization from 3.5 m, visually estimated near 1.0% Cu and sent for over-limit analysis. A further 5,000 m program is underway; an environmental permit application is scheduled for October 2026 and a Pre-Feasibility Study for Q1 2027.
Drill resultsFitzroy Minerals Intersects 78.0 m at 1.70% Cu from 58.0 m, including 40.0 m at 3.02% Cu from 92.0 m at the Buen Retiro Copper Project, Chile
Drill hole BRT-DDH059 at the Buen Retiro Copper Project near Copiapó, Chile returned 78.0 m at 1.70% Cu from 58.0 m, including 40.0 m at 3.02% Cu from 92.0 m, while BRT-DDH058 returned 75.0 m at 0.82% Cu from 9.0 m, including 8.0 m at 3.77% Cu from 12.0 m. Results from seven resource definition holes in the Southwest Area were reported, with 24 holes pending; 39 holes totalling 6,885 metres have been completed since February 2026. A Fleet Space ANT passive seismic survey identified alteration and brecciation at 1-2 km depth over about 5 km x 5 km, with an infill survey in progress; a third rig has been added and a 5,000 metre RC contract is being finalized.
Drill resultsHigh-Resolution MobileMT Survey Links Multiple Large Conductive Anomalies to Copper-Molybdenum-Gold Drill-Intercepts at The Caballos Copper Project, Chile
A helicopter-borne MobileMT electromagnetic and magnetic survey covering 694 line-km over approximately 194 km² at the Caballos Copper Project, Valparaiso Region, Chile, identified a strongly conductive circular feature about 5 km in diameter connected to copper-molybdenum-gold-rhenium mineralization drilled at the Chincolco Prospect in 2025, plus linear conductive anomalies extending 2.5 km southeast of hole CAB-DDH004A, which returned 176 m at 0.31% Cu, 249 ppm Mo and 0.04 g/t Au from 156 metres. A 3D inversion and a Deep IP survey are planned for Q2 2026. Fitzroy also granted 5,770,000 stock options at $0.50 until April 29, 2031.
Drill resultsFitzroy Minerals Signs Letter Of Intent with Pucobre S.A and Outlines a Conceptual Joint Development Pathway for the Buen Retiro Copper Project, Chile
A non-binding letter of intent has been signed with Sociedad Punta del Cobre S.A. (Pucobre) covering a joint development pathway for the Buen Retiro Copper Project near Copiapó, Chile. Pucobre offered processing capacity at its Planta Biocobre SX-EW facility, 70 km from the project, representing at least 80% of its nominal 800 tonnes of cathode copper per month, with commercial terms to be negotiated within about 90 days, and will share operating cost data for the heap leach Pre-Feasibility Study. Pucobre also confirmed its intent to exercise its 30% claw-back right.
AcquisitionFitzroy 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
Definition drilling with two rigs at the Buen Retiro Copper Project in Copiapó, Chile returned 92.5 m at 0.53% Cu from 3.5 m, including 46.0 m at 0.82% Cu from 36.0 m, in hole BRT-DDH048, and 83.0 m at 0.57% Cu from 95.0 m, including 43.0 m at 0.90% Cu, in BRT-DDH049. Thirty-two holes totalling 5,143 metres are complete, with assays pending on most. Metallurgical testing of a 2,900 kg sample has begun at SGS Laboratories, and a 5 km x 5 km Ambient Noise Tomography survey is being interpreted.
Drill resultsFitzroy Minerals Raises Over C$1 Million Through Warrant Exercise
Holders of 4,144,382 of the 4,307,514 warrants and finder's warrants issued under Fitzroy Minerals' March 28, 2024 private placement — 96% of the total — exercised at $0.25 per share before the March 28, 2026 expiry, generating approximately C$1,036,096. Proceeds will fund drilling underway at the Buen Retiro Copper Project near Copiapó, Chile and the Caballos Copper Project in Valparaiso, Chile. The release also corrects prior disclosure on its non-brokered private placement, which closed with a total of 8,810,000 LIFE Shares at $0.50 for gross proceeds of $4,405,000 and 33,500,000 Units at $0.50 for $16,750,000.
FinancingFitzroy Minerals Intersects 384 m @ 0.23% Cu from 4 m, including 94 m @ 0.33% Cu from 30 m, Buen Retiro Copper Project, Chile
Drill hole BRT-DDH045 at the Buen Retiro copper project near Copiapó, Chile returned 384 m @ 0.23% Cu from 4 m, including 94 m @ 0.33% Cu from 30 m, while BRT-DDH044 returned 10 m @ 0.30% Cu from 142 m. Infill drilling of approximately 6,000 m, using two rigs, should finish in April ahead of a maiden resource estimate and PFS, with a minimum 8,000 m exploration program to follow. A 2,800 kg bulk sample goes to SGS for heap leach metallurgical testing starting late March, and an Ambient Noise Tomography survey by Fleet Space Technologies is about to begin. At Caballos, an airborne MobileMT survey is complete and being interpreted, with Phase 2 drilling scheduled later in the year.
Drill resultsFitzroy Minerals Announces Closing Of Final Tranche Of Non-Brokered Private Placement
The second and final tranche of a non-brokered private placement closed for gross proceeds of $2,225,000, comprising 2,830,000 LIFE shares and 1,620,000 units at $0.50 each, bringing total proceeds across both tranches to $21,155,000. Each unit includes a half warrant exercisable at $0.80 for two years; total finder's fees are $1,173,300 plus 2,346,598 finder's warrants and a $160,000 corporate finance fee, subject to TSXV approval. Proceeds are allocated to the Buen Retiro, Caballos, Polimet and Taquetren projects, general and administrative costs and working capital.
FinancingFitzroy Minerals Announces Closing Of First Tranche Of Non-Brokered Private Placement
Gross proceeds of $18,930,000 were raised in the first tranche of a non-brokered private placement, comprising 6,130,000 LIFE shares at $0.50 and 31,730,000 units at $0.50, each unit including a half warrant exercisable at $0.80 for two years. Finder's fees of $1,039,800 cash and 2,079,598 warrants were agreed. Proceeds are earmarked for the Buen Retiro and Caballos projects in Chile, the Polimet project, a Taquetren reorganization, and working capital. Ptolemy Capital subscribed for 1,000,000 units for $500,000.
FinancingFitzroy Minerals Announces Non-Brokered LIFE Offering and Concurrent Private Placement for Up to a Combined $26 Million
A non-brokered private placement of up to a combined $26 million was launched, comprising a LIFE offering of common shares at $0.50 per share for up to $10,000,000 with a $4,000,000 minimum, and a concurrent offering of up to 32,000,000 units at $0.50 per unit for up to $16,000,000, each unit including half a warrant exercisable at $0.80 for two years. Closing is expected on or about March 24, 2026, subject to TSXV approval. Proceeds are earmarked for the Buen Retiro, Caballos, Polimet and Taquetren projects, general and administrative costs and working capital.
FinancingFitzroy Minerals Starts Heliborne Mobile MT Geophysical Survey at Caballos Copper Project, Chile
A 750 line-kilometre heliborne mobile magnetotelluric (MobileMT) survey has begun at the Caballos Copper Project in Valparaiso, Chile, conducted by Expert Geophysics Surveys Inc. The survey will cover the entire property within two days, with interpreted results expected in March 2026. Complementary VLF-EM data will be collected, with the combined methods targeting structures from surface to approximately 1 km to 2 km depth.
Drill resultsFitzroy Minerals Reports on Latest Drilling Results and Extends Oxide Zone to 1.7 km, Buen Retiro Copper Project, Chile
Drilling at the Buen Retiro copper project near Copiapó, Chile returned 108 m @ 0.41% Cu and 156 ppm Co from 30 m in BRT-DDH041, including 48 m @ 0.77% Cu, while condemnation hole BRT-RCD008 cut 213 m @ 0.19% Cu and 199 ppm Co from 3 m, extending the Southwest oxide target by 300 m to 1.7 km. At Caballos, CAB-DDH009 intersected 70 m @ 0.41% CuEq from 85 m. Fitzroy has contracted 10,400 m of diamond and 3,000 m of RC drilling for 2026, and the Pucobre heap leach joint venture technical report will be a Pre-Feasibility Study.
Drill resultsFitzroy Minerals Graduates to OTCQX
Fitzroy Minerals' common shares have qualified to trade on the OTCQX Best Market in the United States, an upgrade from the OTCQB Venture Market. Trading begins today under the symbol FTZFF, with the shares also listed on the TSX Venture Exchange as FTZ. The Company's portfolio includes the Buen Retiro, Caballos and Polimet projects in Chile, Taquetren in Rio Negro, Argentina, and Caribou in British Columbia.
CorporateFitzroy Minerals Reports 176 m @ 0.47% CuEq1 0.31% Cu, 249 ppm Mo, 0.04 g/t Au) at the Caballos Copper Project and Confirms that the Buen Retiro Copper Project is Analogous to Candelaria, Chile
Drill hole CAB-DDH004A at the Caballos copper project in Valparaiso, Chile returned 176 m @ 0.31% Cu, 249 ppm Mo and 0.04 g/t Au (0.47% CuEq) from 156 m, while CAB-DDH007 returned 26 m @ 0.23% CuEq from 81 m and CAB-DDH008 had no significant intersections; Phase 1 drilling totalled 3,154 m in nine holes and a 716 line-km airborne MobileMT survey is scheduled for Q1 2026. At Buen Retiro, Phase 2 drilling is nearly complete at about 8,000 m in 29 holes with assays pending for holes 40 to 45, and the technical report for the proposed heap leach joint venture with Pucobre will be prepared at pre-feasibility level.
Drill resultsFitzroy Minerals appoints Victor Flores to Board of Directors
Victor Flores has been appointed a Non-Executive Director of Fitzroy Minerals, effective January 6, 2026. Flores previously worked as a Portfolio Manager and Chief Investment Officer at United Services Advisors, spent eleven years as Managing Director and Senior Mining Analyst at HSBC, nine years as a portfolio manager at Paulson & Co, and six years as Director of Strategic Projects for Orion Resource Partners. The appointment is subject to TSX Venture Exchange acceptance, with no security-based compensation granted.
Management
202523 releases
Exploration Update at the Buen Retiro and Caballos Copper Projects, Chile
Drilling at the Buen Retiro copper project near Copiapó, Chile returned 85.4 m @ 0.22% Cu from 58.6 m in hole BRT-DDH039, confirming a 360 m wide zone of near-surface oxide mineralization, while RC hole SFR-RCD002 cut 5.0 m @ 1.33% Cu from 301.0 m; holes 40 to 42 each intersected over 145 m of disseminated chalcopyrite with assays pending. Fitzroy has completed 7,150 m of diamond and 5,100 m of RC drilling at Buen Retiro in 2025, alongside environmental baseline studies, PEA planning and talks with Pucobre S.A. At Caballos, Valparaiso, hole CAB-DDH005 returned 198 m @ 0.25% CuEq from 150 m; holes 2 and 4 were aborted, a new contractor was appointed and two rigs target 3,000 m in 2025.
Drill resultsFitzroy Minerals Welcomes Resources Expert and Shareholder Craig Parry as Technical Advisor
Craig Parry has been appointed Technical Advisor to Fitzroy Minerals. Parry is a geologist and mining executive, currently Lead Director of Skeena Resources, Executive Chairman and CEO of Vizsla Copper, Chairman of Vizsla Silver and Advisor to Abitibi Metals, with prior roles at IsoEnergy, NexGen Energy, EMR Capital, Tigers Realm Coal and Rio Tinto. He is an existing shareholder in the company, which holds the Buen Retiro and Caballos copper projects in Chile.
ManagementFitzroy Minerals Announces Grant of Stock Options
A total of 5,300,000 stock options have been granted to certain directors, officers and consultants under Fitzroy Minerals' stock option plan, exercisable at $0.40 per common share until November 10, 2030. All options vested immediately on the grant date and are subject to a four month and one day hold period. Grants to directors and officers constitute a related party transaction under MI 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval.
CorporateFitzroy Minerals Provides Update Regarding 2025 Annual General And Special Meeting
Notice of meeting and management information circular have been filed for Fitzroy Minerals' annual general and special meeting, to be held Friday, October 24, 2025 at 3:00 pm Pacific Time in Vancouver, with a voting deadline of 3:00 pm Pacific Time on Wednesday, October 22, 2025. Business includes fixing the board at four directors, electing four directors, re-appointing DeVisser Gray LLP as auditor, and ratifying a 10% rolling stock option plan. Mailing of materials has been impacted by the Canadian Union of Postal Workers strike, and the Company expects to rely on CSA relief similar to Blanket Order 51-931; materials are available by email and online.
CorporateExploration Update at the Buen Retiro and Caballos Copper Projects, Chile
Diamond drilling at the Buen Retiro copper project near Copiapó, Chile (holes 28 to 35) extended the zone of continuous mineralization in the Southwest Area to 1.4 km, a ~40% increase from the 985 m previously reported, with BRT-DDH-028 intersecting 133 m @ 0.46% Cu in oxides from 22 m, including 35 m @ 0.77% Cu from 115 m. A maiden resource estimate and heap-leach PEA are targeted for 2026, with 1,050 m of a 5,000 m RC program drilled and assays due October 2025. At Caballos, drilling expands to three rigs for at least 3,000 m in 2025.
Drill resultsFitzroy Minerals Reports Multiple Step-Out Copper Intercepts at Buen Retiro, Chile
Step-out diamond drilling in the Southwest Area of the Buen Retiro Copper Project, Copiapó, Chile returned copper mineralization in all holes 21 and 23 to 27, with hole 27 intersecting 119 m at 0.53% Cu from 49 m, including 26 m at 0.91% Cu, plus 23 m at 0.50% Cu from 247 m, and hole 25 returning 32 m at 0.90% Cu from 2 m, including 11 m at 2.28% Cu. Strike extent now measures at least 985 m. Assays for holes 28 to 33 are pending, and a reverse circulation program of at least 5,000 metres is in final contract negotiations.
Drill resultsFitzroy Minerals Provides Corporate and Exploration Update
Fitzroy will focus on its Buen Retiro copper and Caballos Cu-Mo-Au-Re projects in Chile and divest the Polimet (Chile), Taquetren (Argentina) and Cariboo (Canada) projects, retaining upside exposure; a recent C$12.54 million financing funds work to 2027. Buen Retiro's 2025 program covers 12,000–14,000 m of drilling, with about 3,800 m of a 7,500 m diamond program completed. Polimet Phase 1 drilling totalled 2,486.4 m in 12 holes, including 4.0 m @ 1.43 g/t Au and 0.90% Cu in POL-DDH008.
CorporateFitzroy Minerals Announces Grant of Stock Options
A total of 5,900,000 stock options have been granted to certain directors, officers and consultants under the company's stock option plan, exercisable at $0.35 per common share until July 11, 2030. All options vested immediately and are subject to a four month and one day hold period. Grants to directors and officers constitute a related party transaction under MI 61-101, with exemptions from formal valuation and minority shareholder approval relied upon.
CorporateFitzroy Minerals Announces Closing of Final Tranche of Non-Brokered Life Offering and Concurrent Private Placement
The second and final tranche of the non-brokered LIFE private placement closed with 23,333,333 shares at $0.30 for gross proceeds of approximately $7,000,000, bringing the LIFE Offering total to 40,000,000 shares and $12,000,000. A concurrent non-brokered placement of 1,800,000 shares at $0.30 raised $540,000. Proceeds are earmarked for exploration and property commitments at the Buen Retiro and Caballos projects, general and administrative costs and working capital. Total finder's fees were $940,000.02 plus 3,133,330 warrants exercisable at $0.50; closing remains subject to final TSXV approval.
FinancingFitzroy Minerals Announces Closing of First Tranche of Non-Brokered Life Offering
A first tranche of the non-brokered LIFE private placement closed through the issuance of 16,666,667 shares at $0.30 per share for gross proceeds of approximately $5,000,000, from a cornerstone investment by the Tribeca Global Natural Resources Fund. The LIFE Offering may reach up to $12,000,000, with a minimum of $8,000,000, alongside a concurrent placement of up to $1,000,000 (3,333,333 shares at $0.30). Proceeds are earmarked for the Buen Retiro and Caballos projects, G&A and working capital. Finder's fees of $400,000 cash and 1,333,332 warrants at $0.50 were agreed.
FinancingFitzroy Minerals Announces Non-Brokered LIFE Offering and Concurrent Private Placement for up to a Combined $13 Million
A non-brokered LIFE private placement of common shares at $0.30 per share for gross proceeds of up to $12,000,000, with a minimum offering of $8,000,000, will be accompanied by a concurrent non-brokered placement of up to 3,333,333 shares at $0.30 for up to $1,000,000, subject to a four month and one day hold. Proceeds are earmarked for exploration and property commitments at the Buen Retiro and Caballos projects, general and administrative costs and working capital. Closing is expected on or about July 5, 2025, subject to TSXV approval, with insider participation anticipated.
FinancingFitzroy Minerals Reports 110 m @ 1.94% Cu, Including 58 m @ 3.06% Cu at the Buen Retiro Copper Project, Chile
Diamond drill hole BRT-DDH022 in the Southwest Area of the Buen Retiro Copper Project, 57 km southwest of Copiapó, Chile, returned 110 m @ 1.94% Cu and 416 ppm Co from 62 m, including 58 m @ 3.06% Cu and 502 ppm Co from 97 m, with a maximum of 12.86% Cu over 1.0 m. Hole BRT-DDH016 in the North Area cut 59 m @ 0.39% Cu from surface, while South Area holes BRT-DDH017–021 returned 11–39 m intervals grading 0.30% to 0.61% Cu. Nine Phase 2 holes totalling 2,105 m are complete; Fitzroy aims to drill at least 8,000 m in 2025.
Drill resultsFitzroy Minerals Drilling Update
A 2,700 m Phase 2 drilling program is underway at the Caballos Copper Project in Chile, targeting depth and strike extensions of the mineralization in CAB-DDH001 at the Chincolco anomaly, which returned 200 m at 0.46% Cu, 591 ppm Mo and 0.07 g/t Au from 66 m. At Buen Retiro, a two-rig 8,000 m program has six holes completed and submitted for assay, focused on oxide copper in the top 150 m. Polimet's 12-hole, 2,486 m Phase 1 program is complete, with assays expected shortly.
Drill resultsFitzroy Minerals Ltd. Clarifies Technical Disclosure
Following a review by the British Columbia Securities Commission, Fitzroy Minerals has clarified that its Q4 2024 corporate presentation incorrectly disclosed a target on the Buen Retiro copper project. The Company confirms the project does not have a current resource estimate, and that the National Instrument 43-101 Technical Report for the Buen Retiro Copper Project, with an effective date of August 15, 2024 and available on SEDAR+, is the current report on the project.
CorporateFitzroy Minerals Announces Grant of Stock Options and Appointment of Chief Financial Officer and Corporate Secretary
3,550,000 stock options have been granted to directors, officers and consultants, exercisable at $0.25 per common share until April 4, 2030, with all options vesting immediately and subject to a four month and one day hold period. Herrick Lau has resigned as Chief Financial Officer and Queenie Kuang, a Chartered Public Accountant, has been appointed Chief Financial Officer and Corporate Secretary.
CorporateFitzroy Minerals Announces Completion of Acquisition of Ptolemy Mining Limited and Concurrent Financing
The acquisition of Ptolemy Mining Limited has closed, giving Fitzroy Minerals options on the Manto Negro, Buen Retiro and Sierra Fritis properties in Chile, in exchange for 88,000,000 common shares at a deemed price of $0.20. A concurrent private placement of 20,000,000 units at $0.15 raised gross proceeds of $3,000,000, with finder's fees of $125,580.78 and 837,203 finder's warrants. Ptolemy Capital now holds 70,844,062 shares, or 31.31% undiluted, and Gilberto Schubert was appointed Chief Operating Officer.
AcquisitionFitzroy Minerals Reports 200 m at 0.83% CuEq, Including 42 m at 2.31% CuEq in New Copper-Molybdenum-Gold-Rhenium, Mineralizing System Identified at the Caballos Copper Project, Chile
The first drill hole ever at the Caballos Copper Project in Valparaiso, Chile, CAB-DDH001, returned 200 m grading 0.46% Cu, 591 ppm Mo and 0.07 g/t Au (0.83% CuEq) from 66 m, including 98 m at 1.45% CuEq from 151 m and 42 m at 1.20% Cu, 1,764 ppm Mo and 0.23 g/t Au (2.31% CuEq) from 187 m. Selected pulps from 150–246 m returned 85 m at 0.38 ppm Re, with a maximum of 2.42 ppm Re. The hole was drilled to 350 m in the Chincolco anomaly; step-out drilling is anticipated to restart in April 2025.
Drill resultsFitzroy Minerals Grant of Stock Options
A total of 1,200,000 stock options have been granted to certain directors, officers and consultants of Fitzroy Minerals under the Company's stock option plan. The options are exercisable at $0.30 per common share until March 20, 2030, vested immediately on grant, and are subject to a four month and one day hold period. Grants to directors and officers are a related party transaction under MI 61-101, with exemptions relied upon under sections 5.5(b) and 5.7(1)(a).
CorporateFitzroy Minerals Provides Update on Ptolemy Acquisition
The outside date for completing the acquisition of Ptolemy Mining Limited has been extended from February 28, 2025 to March 31, 2025 under a February 27, 2025 amendment to the October 30, 2024 share exchange agreement. The associated non-brokered private placement of a minimum 16,666,666 and maximum 20,000,000 units at $0.15 per unit, for gross proceeds of $2,500,000 to $3,000,000, is fully subscribed, with warrants now exercisable at $0.25 for three years. Both are expected to close concurrently in March, subject to TSX Venture Exchange final approval.
AcquisitionDrilling Intersects 185.7 m Interval of Sulphides at Fitzroy’s Caballos Copper and Starts Drilling at Polimet Gold-Copper-Silver Projects, Chile
A 350 m drill hole at the Caballos Copper Project in Valparaiso, Chile intersected 185.7 m (from 62.5 m) of sulphide-mineralized breccias with chalcopyrite, molybdenite and pyrite estimated at 1-2% of rock volume, including 73.0 m (from 154.0 m) at an estimated 2-3%; true widths are estimated at about 75% of downhole intersections and assays are expected in March 2025. The rig has moved to the Polimet Gold-Copper-Silver Project, where a seven-hole, 2,500 m Phase 1 diamond drilling program has begun.
Drill resultsFitzroy Minerals Provides Update on Ptolemy Acquisition
The termination date for the pending acquisition of Ptolemy Mining Limited, under a share exchange agreement dated October 30, 2024, has been extended from January 31, 2025 to February 28, 2025 via an amendment signed January 30, 2025. Closing conditions still outstanding include an audit of Ptolemy's financial statements and completion of a non-brokered private placement of 16,666,666 to 20,000,000 units at $0.15 per unit for $2,500,000 to $3,000,000. Warrants are now exercisable at $0.25 for three years.
AcquisitionNew Geophysical Results Solidify Targets for Upcoming Phase 1 Drilling Program at Fitzroy’s Polimet Gold-Copper-Silver Project, Chile
Induced polarisation and ground magnetic surveys at the Polimet gold-copper-silver project in Valparaiso, Chile outlined four main vertical conductors totalling more than 4,700 m of strike length, including a 1,600 m conductor linking the Santo Domingo and La García workings and a 680 m conductor at San Pedro. Ground magnetics over 329 line-km defined a 5.0 km by 1.6 km structural corridor. A 2,500 metre, minimum seven-hole diamond drilling program is due to start in February 2025.
Drill resultsFitzroy Minerals Starts Drilling at the Caballos Copper Project, Chile
Diamond drilling has begun at the Caballos Copper Project in Valparaiso, Chile, with a proof-of-concept program of approximately 500 m in one or two holes from a single drill pad, testing targets across the Pocuro Fault Zone and the mineralized intrusive body and hydrothermal breccia. The southern anomaly runs about 1.2 km north-south and contains a 500 m-long felsic intrusion averaging 0.84% Cu from rock chip samples, with a molybdenum anomaly of roughly 980 m x 50 m averaging 897 ppm Mo. The rig will then move to the Polimet Gold-Copper-Silver Project for about 2,500 metres of drilling, anticipated to start in February 2025.
Drill results