Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced the results of a ground-based Deep Induced Polarization (IP) chargeability and resistivity survey completed by Southernrock Geophysics S.A. (SRG) over its Caballos Project in the Valparaíso Region, Chile. The survey has identified multiple chargeability and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems, and which are connected to mineralization intersected in 2025 diamond drilling.
The Deep IP survey was conducted across four lines totaling 18.4 line-km, targeting main conductive anomalies previously identified in a heli-borne MobileMT survey. The survey aimed to characterize chargeability and resistivity down to depths of approximately 1,500 meters for the PDIP survey and up to 3,000 meters for the MT survey. 2D and 3D inversions were performed, revealing several large anomalies, notably C2-B and C4.
The C2-B anomaly, approximately 3 km wide, exhibits a classic porphyry cross-section with a strongly conductive and chargeable outer shell surrounding an inner core. The C4 anomaly, about 1 km wide, is a shallow, strong chargeability feature situated on trend from existing mineralized drill hole intersections. These anomalies are interpreted to be related to disseminated sulphide mineralization, as noted by SRG.
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 chargeability anomalies align well with conductivity anomalies from the prior MobileMT survey, which covered a larger area, opening up additional prospectivity. The largest IP anomaly, C2-B, is consistent with a classic porphyry signature. The C4 anomaly is strong and shallow with excellent access. At the Chincolco Creek target, mineralization intersected from surface in prior drilling has associated geophysical anomalies (C3) that could extend known mineralization along strike and at depth.
Phase tensor analysis indicated that conductive structures align roughly north-south or southwest-northeast, consistent with the Pocuro Fault Zone (PFZ) and other regional structural trends. This information is being incorporated into geological interpretation and exploration planning.
Based on these results, Fitzroy Minerals has planned a drilling program of approximately 5,500 meters, with five drill holes designed to test the key targets, including extensions to mineralization at Chincolco Creek and anomalies C2-B, C3, and C4. Drilling is expected to commence in September 2026.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101 and independent geological consultant to the Company, has reviewed and approved the technical information in this news release.
Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas, including the Buen Retiro Copper Project, the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in Canada. The company's shares are listed on the TSX Venture Exchange (FTZ) and OTCQX (FTZFF).
