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Norseman Capital ( (TSE:FTZ) ) has provided an update.
Fitzroy Minerals reported a significant intercept of 176 metres grading 0.47% copper equivalent, including higher-grade intervals, from Phase 1 drilling at its Caballos Copper Project in northern Chile, reinforcing evidence of a robust copper-molybdenum-gold system with characteristics typical of major Chilean porphyry deposits. The company is commissioning a deep-penetrating airborne MobileMT geophysical survey in the first quarter of 2026 to refine targets ahead of Phase 2 drilling, while at its Buen Retiro project an expert site visit concluded the structural setting and mineralization are closely analogous to the giant Candelaria mine, supporting plans for deeper drilling; alongside these exploration advances, Fitzroy is upgrading the technical report on its heap leach joint venture with Pucobre to a pre-feasibility study, signaling growing confidence in the project’s development potential and the company’s broader growth trajectory amid high copper prices.
More about Norseman Capital
Fitzroy Minerals Inc. is a Vancouver-based mineral exploration company focused on copper projects in northern Chile, the world’s leading copper-producing region. The company is advancing its Buen Retiro and Caballos copper projects, targeting large-scale porphyry and related copper systems with associated molybdenum and gold, and is also involved in a heap leach joint venture with Chilean miner Pucobre.
Average Trading Volume: 216,660
Technical Sentiment Signal: Buy
Current Market Cap: C$153.3M
For detailed information about FTZ stock, go to TipRanks’ Stock Analysis page.