Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced results from a helicopter-borne MobileMT airborne electromagnetic and magnetic survey at its Caballos Project in the Valparaiso Region, Chile. The survey identified multiple conductivity and resistivity anomalies interpreted as consistent with porphyry-style hydrothermal systems, directly connected to mineralization intersected in 2025 diamond drilling.
The survey, completed by Expert Geophysics Services Inc. (EGS), covered 694 line-km over the main Caballos concession block, approximately 194 km², including a 200 m spacing infill survey over the Central Target area. Key findings include a large circular strongly conductive feature approximately 5 km in diameter, interpreted as a porphyry-related hydrothermal system, which is directly connected to copper-molybdenum-gold-rhenium mineralization identified by drilling at the Chincolco Prospect in 2025.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, stated: “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.” He noted that the standout anomaly is a huge circular feature that connects to sulphide mineralization intersected in drilling last year, and that conductive anomalies suggest the Chincolco sulphide mineralization might continue for several kilometres to the south.
The MobileMT survey identified a strong conductive feature dipping eastward for approximately 1.5-2.0 km before merging into the larger circular conductive body. EGS interprets the anomaly as representing a structurally controlled zone of hydrothermal alteration and sulphide development, consistent with a porphyry-related mineralizing environment. A linear conductive anomaly approximately 1.5 km long is evident near the north-south axis of the Chincolco Prospect. Diamond drill hole CAB-DDH004A, which intersected 176 m @ 0.31% Cu, 249 ppm Mo, 0.04 g/t Au from 156 metres, tested a weak portion of the anomaly, while the deeper, stronger portion remains untested.
The linear Chincolco conductive anomaly is interrupted by a cross-cutting fault and resumes to reach a distance of 2.5 kilometres to the southeast of drill hole CAB-DDH004A. The southern extension is covered by flat-lying Miocene volcaniclastic rocks, but the anomaly is evident in shallow images, suggesting thin cover.
A prominent north-south conductive corridor extending approximately 14 km across the Caballos Project area was identified, spatially coincident with the mapped trace of the regional Pocuro Fault Zone. EGS interprets this as a major crustal-scale permeable structure, a potential pathway for mineralizing magmatic fluids, commonly associated with porphyry copper systems.
Further north, resistivity patterns characteristic of hydrothermal breccia-associated porphyry systems were identified, comparable to those at El Teniente and La Huifa in Chile. EGS interprets these as combinations of conductive alteration halos, sulphide-bearing fracture networks, and structurally controlled feeder pathways.
Fitzroy Minerals plans to follow up with further integrated data-processing and a ground Deep IP survey to gain chargeability information and improve target ranking ahead of drilling. The company aims to make major copper discoveries in Chile, with future cash flow from the Buen Retiro Heap Leach operation funding non-dilutive exploration drilling.
