MTI(US:MTX) Thenewswire·2025-08-19 13:15Core Insights - Fitzroy Minerals Inc. is advancing its exploration efforts at the Buen Retiro Copper Project in Copiapó, Chile, with ongoing Phase 2 drilling totaling 8,000 meters [1][4]. Exploration Update - Recent assay results from diamond drill holes 23 to 27 indicate copper mineralization in all holes, expanding the known mineralization strike length to 985 meters [2][10]. - The average distance between drill holes along the strike has been reduced to approximately 100 meters, improving the continuity of mineralization [2]. - Significant shallow mineralization zones have been identified, particularly between holes 21 and 24, covering a lateral extent of 360 meters [2][8]. Drilling Details - Drill hole 27 intersected multiple mineralized zones, including 119 meters at 0.53% Cu from a depth of 49 meters, confirming the presence of oxide and transition copper minerals down to about 150 meters [10][17]. - Hole 25 returned 32 meters at 0.90% Cu, including 11 meters at 2.28% Cu, indicating strong mineralization at the northwestern edge of the Southwest Area [10][18]. - The ongoing diamond drilling aims to further test the extensions and limits of known mineralization in the Southwest Area, with assays for holes 28 to 33 pending [25][26]. Future Plans - The company plans to initiate Reverse Circulation (RC) drilling in the North Area, targeting shallow hanging-wall copper mineralization related to a multi-kilometer geophysical anomaly [3][26]. - Fitzroy aims to accelerate resource delineation and technical de-risking work to advance towards production at Buen Retiro [6][25]. Infrastructure and Economic Considerations - The Buen Retiro site benefits from excellent infrastructure, being close to the Pan-American highway and existing mining facilities, which may enhance capital efficiencies for future development [6].