Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has released results from a helicopter-borne MobileMT airborne electromagnetic and magnetic survey over its Caballos Copper Project in Chile's Valparaiso Region. The survey, conducted by Expert Geophysics Services Inc. (EGS), identified multiple conductivity and resistivity anomalies consistent with porphyry-style hydrothermal systems that are directly connected to mineralization intersected in the company's 2025 diamond drilling program.
The survey covered 694 line-km over 194 km², including 200 m spacing infill over the Central Target area. A standout feature is a large circular strongly conductive anomaly approximately 5 km in diameter, interpreted as a porphyry-related hydrothermal system that connects to copper-molybdenum-gold-rhenium mineralization at the Chincolco Prospect drilled in 2025. Additionally, linear conductive anomalies extend 2.5 km southeast from drill hole CAB-DDH004A, which intersected 176 m @ 0.31% Cu, 249 ppm Mo, 0.04 g/t Au (0.47% CuEq) from 156 metres, as reported in a January 13, 2026 news release.
President and CEO Merlin Marr-Johnson emphasized the significance: “The MobileMT survey shows that Caballos hosts the type of plumbing architecture and conductive anomalies that are often associated with world-class mineral systems in Chile. The standout anomaly is a huge circular feature about five kilometres across that connects to the sulphide mineralization we intersected in drilling last year.” He added that the conductive anomalies suggest the Chincolco sulphide mineralization might continue for several kilometres to the south just below the surface, covered by thin Miocene volcanic rocks.
The survey also identified a prominent north-south conductive corridor extending 14 km along the Pocuro Fault Zone, interpreted as a major crustal-scale permeable structure and potential pathway for mineralizing magmatic fluids. To the north, resistivity patterns characteristic of hydrothermal breccia-associated porphyry systems were observed, comparable to those at El Teniente and La Huifa in Chile, according to EGS interpretation.
Fitzroy Minerals plans follow-up work including a 3D inversion of key areas by EGS and a ground Deep Induced Polarization (IP) survey in Q2 2026 to gain chargeability information and improve target ranking. The company aims to use future cash flow from its Buen Retiro Heap Leach operation to fund non-dilutive exploration drilling.
In a separate announcement, the company granted 5,770,000 stock options to directors, officers, and consultants at $0.50 per share, exercisable until April 29, 2031. The options vested immediately and are subject to a four-month hold period.
Dr. Scott Jobin-Bevans, a Qualified Person under NI 43-101, has reviewed and approved the technical information in this release.
