Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced results from a ground-based deep induced polarization (IP) survey at its Caballos Copper Project in Chile's Valparaíso Region, identifying multiple large chargeability and resistivity anomalies that the company interprets as consistent with porphyry-style hydrothermal systems. These anomalies are directly connected to mineralization intersected in 2025 diamond drilling, according to a company news release.
The survey, conducted by Southernrock Geophysics S.A. (SRG), covered 18.4 line-kilometres across four IP lines, targeting conductive anomalies previously identified by a heli-borne MobileMT survey. The results have refined drill targets, with a planned 5,500-metre diamond drilling program set to commence in September 2026 to test four main targets.
Key highlights include a large conductivity and chargeability anomaly, C2-B, spanning 3 kilometres wide with a classic porphyry cross-section, and a shallow, 1-kilometre-wide anomaly (C4) on trend from existing mineralized drill holes. Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, noted that the IP chargeability anomalies align well with conductivity anomalies from the MobileMT survey, enhancing the prospectivity of the Caballos concessions. He emphasized that prior drilling on the edge of the system, into a weak chargeability anomaly, had already intersected copper, molybdenum, and gold, demonstrating the ground's fertility.
The survey's results have been integrated with existing geological data to create an updated interpretation. The anomalies, labelled C1, C2-A, C2-B, C3, and C4, are evident in both 2D and 3D inversion models. The forthcoming exploration program will test extensions at Chincolco Creek and the C2-B, C3, and C4 anomalies.
The upcoming drilling will be funded by future cash flow from the Buen Retiro Heap Leach operation, allowing for non-dilutive exploration. Fitzroy Minerals is systematically targeting major copper discoveries in Chile, and this IP survey further de-risks several large targets at Caballos.
The qualified person for the news release is Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), an independent geological consultant, who reviewed and approved the technical information.
Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas, with projects including the Buen Retiro Copper Project, Caballos Copper, Polimet Gold-Copper-Silver, Taquetren Gold, and Caribou projects.
This announcement comes as the company continues to advance its exploration efforts in Chile, a country known for its rich copper deposits. The results of the IP survey are seen as a significant step in understanding the mineral potential at Caballos.
For more information, visit the company's website at www.fitzroyminerals.com.
