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Norseman Capital ( (TSE:FTZ) ) has issued an announcement.
Fitzroy Minerals reported wide copper mineralization intervals from recent drilling at its Buen Retiro project in Chile, highlighted by drill hole BRT-DDH045, which returned 384 metres at 0.22% copper from 4 metres, including 94 metres at 0.33% copper from 30 metres. The company is conducting a 6,000-metre infill drilling program to support a maiden mineral resource estimate and has prepared a 2,800-kilogram bulk sample for heap leach metallurgical testing at SGS Laboratories.
Following completion of infill drilling, Fitzroy plans at least 8,000 metres of exploration drilling, supported by a passive seismic Ambient Noise Tomography survey to refine deep sulphide targets, while one rig is released to manage costs. At the nearby Caballos project, an airborne MobileMT geophysical survey has been completed and is under interpretation, underscoring Fitzroy’s broader strategy to leverage Buen Retiro’s favorable location and potential future cash flow to drive continued copper exploration in Chile with limited shareholder dilution.
More about Norseman Capital
Fitzroy Minerals Inc. is a Vancouver-based mineral exploration company focused on copper projects in northern Chile. The company is advancing its Buen Retiro and Caballos properties, targeting heap leach copper production and large-scale copper systems near established mining infrastructure and coastal desalination capacity.
Average Trading Volume: 216,151
Technical Sentiment Signal: Buy
Current Market Cap: C$114.7M
Learn more about FTZ stock on TipRanks’ Stock Analysis page.