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. The survey, conducted by Southernrock Geophysics S.A. (SRG), identified multiple chargeability and resistivity anomalies that are interpreted to be consistent with porphyry-style hydrothermal systems and are directly linked to mineralization intersected in the company's 2025 diamond drilling program.
The survey comprised four IP lines totaling 18.4 line-km, designed to characterize the distribution of chargeability and resistivity down to depths of approximately 1,500 meters for the IP survey and up to 3,000 meters for the magnetotelluric (MT) survey. The results revealed several significant anomalies, including a large conductivity and chargeability anomaly designated C2-B, which spans 3 kilometers in width and exhibits a classic porphyry cross-section with a strongly conductive and chargeable outer shell surrounding an inner core. Another notable anomaly, C4, is a large, shallow chargeability feature approximately 1 kilometer wide, situated on trend from existing mineralized drill hole intersections.
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." He further noted that the IP anomalies align well with conductivity anomalies from the earlier MobileMT survey, expanding the prospectivity across the Caballos concessions.
The survey also provided insights into the structural controls of mineralization. Phase Tensor analysis indicated a dominant north-south or southwest-northeast alignment of conductive structures, consistent with the Pocuro Fault Zone (PFZ) and cross-cutting east-west structures. This has been incorporated into the geological interpretation and exploration plan.
At the Chincolco Creek target, prior drilling had intersected abundant sulphide mineralization, but the geophysical signature was subtle due to disseminated mineralization and abundant quartz and gypsum veining. However, the new data suggest a subtle anomaly extends to the south and at depth along the projection of the PFZ, potentially extending known mineralization.
Based on the integrated geophysical and geological data, Fitzroy Minerals has planned a compact drilling program of approximately 5,500 meters, with five drill holes designed to test the key targets, including C2-B, C3, and C4. Drilling is anticipated to commence in September 2026. The company is systematically targeting major copper discoveries in Chile, and this IP survey further de-risks several large targets at Caballos. The plan is that future cash flow from the Buen Retiro Heap Leach operation will fund non-dilutive exploration drilling.
The technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101. Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas, with a portfolio including the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, among others. The company's shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under the symbol FTZFF.
