MTI(US:MTX) Thenewswire·2026-01-13 14:15Core Insights - Fitzroy Minerals Inc. is making significant progress in its exploration of the Buen Retiro and Caballos copper projects in northern Chile, coinciding with record-high copper prices, indicating a transformative year ahead for the company [1][2]. Caballos Project - The Caballos project has revealed a robust copper-molybdenum-gold system with multiple mineralization phases, extending over 600 meters, with ongoing exploration [2][4]. - Phase 1 drilling at Caballos has completed 3,154 meters across nine holes, with an airborne geophysical survey scheduled for Q1 2026 to enhance geological modeling [4][12]. - Drill hole CAB-DDH004A intersected 176 meters at 0.31% Cu, 249 ppm Mo, and 0.04 g/t Au, indicating promising mineralization [6][8]. Buen Retiro Project - At Buen Retiro, drilling continues to intersect significant sulphide mineralization, with a focus on the Upper Pucobre Formation, which is similar to the Candelaria deposit [3][20]. - Approximately 8,000 meters of diamond drilling across 29 holes has been completed, with assays pending for several drill holes due to laboratory delays [14][18]. - The geological interpretation indicates a copper-mineralized trend extending about 1 kilometer, with mineralization preferentially developed in permeable volcanic breccias and tuffs [17][18]. Technical Developments - The company plans to upgrade the Technical Report on the Heap Leach Joint Venture with Pucobre to a Pre-Feasibility Study, reflecting confidence in the project [4][23]. - New drilling contracts for 2026 are being negotiated, focusing on both exploration and larger diameter infill drilling [22]. Geophysical Surveys - Fitzroy has contracted Expert Geophysics for an airborne MobileMT survey to map subsurface geology to depths of 1 to 2 kilometers, with a total of approximately 716 line-km planned [10][12].