Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced results from a ground-based Deep Induced Polarization (IP) and resistivity survey at its Caballos Copper Project in Chile's Valparaiso Region. The survey, conducted by Southernrock Geophysics S.A. (SRG), identified multiple large chargeability and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems, directly linked to copper-molybdenum-gold mineralization intersected in 2025 drilling.
The Deep IP survey comprised four lines totaling 18.4 line-km, designed to characterize chargeability and resistivity down to depths of approximately 1,500 meters for the IP survey and 3,000 meters for the MT survey. The results align well with prior MobileMT conductivity anomalies, significantly expanding the prospectivity of the Caballos concessions. Highlights include the C2-B anomaly, a 3 km wide chargeability feature with a classic porphyry cross-section, and the C4 anomaly, a 1 km wide shallow chargeable body on trend with existing mineralized drill holes.
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 anomalies are interpreted as disseminated sulphide mineralization, with SRG noting that the induced polarization responses are "presumably related to the presence of (disseminated) sulphide mineralization." The largest anomaly, C2-B, exhibits a classic porphyry signature: a strongly conductive and chargeable outer shell surrounding an inner core. The C4 anomaly shows a very strong, shallow chargeable feature with excellent access.
Fitzroy Minerals has integrated the new geophysical data with existing geological data 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. Five drill holes are planned, totaling approximately 5,500 meters, with drilling anticipated to start in September 2026.
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release. The company is systematically targeting major copper discoveries in Chile, and this IP survey further de-risks several large targets at Caballos.
