Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced the results of a ground-based Deep Induced Polarization (IP) and resistivity survey at its Caballos Copper Project in Chile's Valparaiso Region. The survey, conducted by Southernrock Geophysics S.A., identified multiple chargeability and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems and directly linked to mineralization intersected in the company's 2025 diamond drilling program.
The Deep IP survey, comprising four lines totaling 18.4 line-kilometers, was strategically positioned over conductive anomalies previously identified by a heli-borne MobileMT survey. The results reveal several compelling targets, most notably the large C2-B anomaly, which spans 3 kilometers in width and exhibits a classic porphyry cross-section with a conductive and chargeable outer shell surrounding a moderate chargeability core—a signature typical of copper mineralization in porphyry deposits. Additionally, the shallow C4 anomaly, approximately 1 kilometer wide, lies on trend with existing mineralized drill hole intersections, further enhancing its prospectivity.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, commented: "We are delighted that the Deep IP survey has identified so many strong anomalies. In the Caballos geological setting, it is highly probable that the chargeability corresponds with sulphide mineralization - a view also held by the contractor, Southernrock Geophysics. Our prior drilling on the edge of the system, into a weak chargeability anomaly, has already intersected copper, molybdenum, and gold, demonstrating the fertility of this ground."
The IP anomalies align well with the conductivity anomalies from the earlier MobileMT survey, which covered a much larger area, suggesting that the entire Caballos concession holds significant untapped potential. The largest IP anomaly, C2-B, is particularly encouraging due to its classic porphyry signature, while the C4 anomaly presents a strong, shallow chargeable feature with excellent access, making it a high-priority drill target.
At the Chincolco Creek target, mineralization intersected from surface in prior drilling has associated geophysical anomalies (C3) that could potentially extend known mineralization along strike and at depth. The company's integrated interpretation of all geophysical and geological data has led to the planning of a compact drilling program of approximately 5,500 meters, scheduled to commence in September 2026. Five drill holes have been designed to test the C2-B, C4, and C3 anomalies, as well as extensions to mineralization at Chincolco Creek.
The survey also included Phase Tensor analysis, which revealed a dominant north-south or southwest-northeast alignment of conductive structures, consistent with the regional Pocuro Fault Zone. This structural insight is being incorporated into the exploration plan to better target mineralization.
Fitzroy Minerals is systematically advancing its copper-focused strategy in Chile, and this IP survey represents a significant de-risking milestone for the Caballos Project. The company plans to fund the upcoming drilling with cash flow from its Buen Retiro Heap Leach operation, aiming for non-dilutive exploration. Dr. Scott Jobin-Bevans, a Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.
