VANCOUVER, BC - 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 the Caballos Project in the Valparaiso Region, Chile. The survey identified multiple chargeability and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems, directly linked to mineralization intersected in 2025 diamond drilling.
The survey comprised four IP lines totaling 18.4 line-km, designed to characterize chargeability and resistivity down to depths of approximately 1,500 meters for the PDIP survey and nominally 3,000 meters for the MT survey. This work followed a prior heli-borne MobileMT survey that outlined large conductivity anomalies. The new IP data confirms and refines these targets, with 2D and 3D inversions revealing several compelling anomalies.
Key highlights include the C2-B anomaly, a 3 km wide feature with a classic porphyry cross-section, and the C4 anomaly, a 1 km wide shallow chargeability high on trend with existing mineralized drill holes. These anomalies are situated in a geological setting highly prospective for copper and molybdenum mineralization, and the chargeability responses are interpreted to be related to disseminated sulphides.
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 the conductivity anomalies from the MobileMT survey, expanding the prospectivity of the concessions. The largest IP anomaly, C2-B, exhibits a classic porphyry signature with a conductive outer shell and a moderate chargeability core, typical of copper mineralization zones. The C4 anomaly presents a strong, shallow chargeable feature with excellent access, and the Chincolco Creek target shows potential for extending known mineralization along strike and at depth.
SRG reported that the zones of induced polarization response are "presumably related to the presence of (disseminated) sulphide mineralization." They also identified that the anomalies lie beneath sub-horizontal intervals of moderate-low resistivity, likely related to a volcano-sedimentary sequence, providing a clear geological context.
Fitzroy Minerals has integrated the new IP data with all pre-existing geological and geophysical information to create an updated interpretation. The forthcoming exploration program will test extensions to mineralization at Chincolco Creek and the geophysical anomalies C2-B, C3, and C4. A diamond drilling program of approximately 5,500 meters is planned to start in September 2026, targeting these high-priority anomalies.
The survey results materially enhance Fitzroy Minerals' understanding of the mineral potential at Caballos, and the company is systematically targeting major copper discoveries in Chile. Future cash flow from the Buen Retiro Heap Leach operation is expected to fund non-dilutive exploration drilling, further advancing the project.
Phase Tensor analysis from the survey indicated dominant structural trends aligned north-south or southwest-northeast, consistent with the Pocuro Fault Zone, which is being incorporated into the exploration plan. The company's qualified person, Dr. Scott Jobin-Bevans, has reviewed and approved the technical information in this release.
Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets with substantial upside potential in the Americas. The company's portfolio includes 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 shares trade on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under FTZFF.
