Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has released results from a helicopter-borne MobileMT airborne electromagnetic and magnetic survey conducted by Expert Geophysics Services Inc. (EGS) over the Caballos Project in the Valparaiso Region, Chile. The survey, which covered 694 line-km over approximately 194 km², identified several conductivity and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems and directly linked to mineralization intersected in the company’s 2025 diamond drilling program.
The standout feature is a large circular conductive anomaly approximately 5 km in diameter, interpreted as a porphyry-related hydrothermal system connected to copper-molybdenum-gold-rhenium mineralization encountered at the Chincolco Prospect. Additionally, linear conductive anomalies extending up to 2.5 km to the southeast of the southernmost drill hole, CAB-DDH004A, suggest potential continuation of sulphide mineralization just below the surface. Drill hole CAB-DDH004A intersected 176 m @ 0.31% Cu, 249 ppm Mo, 0.04 g/t Au (0.47% CuEq) from 156 metres, and the anomaly remains largely untested at depth.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, commented: “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. There are also conductive anomalies that suggest the Chincolco sulphide mineralization might continue for several kilometres to the south, just below the surface.”
The survey also identified a prominent north-south conductive corridor extending 14 km along the regional Pocuro Fault Zone, interpreted as a major crustal-scale permeable structure and potential pathway for mineralizing magmatic fluids. Such deep-seated structures are commonly associated with porphyry copper systems. Further north, resistivity patterns comparable to those observed at major deposits like El Teniente and La Huifa were noted, supporting the interpretation of a district-scale mineralizing system.
The implications of these findings are significant for Fitzroy Minerals and the broader mining industry. The identification of large, deep-rooted conductive anomalies directly linked to known mineralization suggests the Caballos Project may host a significant porphyry copper-molybdenum-gold system. This could potentially lead to the discovery of a major mineral deposit, which would have substantial economic impact for the company and the region. For the industry, the successful application of MobileMT technology in this setting demonstrates its effectiveness in detecting porphyry systems under volcanic cover, potentially aiding exploration efforts elsewhere.
Fitzroy Minerals plans to follow up with integrated data processing, a 3D inversion of key areas, and a ground Deep Induced Polarization (IP) survey in Q2 2026 to gain chargeability information and improve target ranking ahead of drilling. The company aims to fund non-dilutive exploration drilling through future cash flow from the Buen Retiro Heap Leach operation. The survey results materially enhance the understanding of the structural architecture and hydrothermal footprint at Caballos, providing a robust framework for next-stage drill targeting.
The technical information in this release was reviewed and verified by Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101. For more information on Fitzroy Minerals, visit the company's website at www.fitzroyminerals.com.
