Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced the results of a ground-based Deep Induced Polarization (IP) and resistivity survey at its Caballos Copper Project in the Valparaíso Region of Chile. The survey, conducted by Southernrock Geophysics S.A. (SRG), identified multiple chargeability and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems and connected to mineralization intersected in 2025 diamond 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 up to 3,000 meters for the magnetotelluric (MT) survey. The results revealed several significant anomalies, notably the C2-B anomaly, a 3 km wide feature with a classic porphyry cross-section, and the C4 anomaly, a 1 km wide shallow chargeable feature on trend with existing mineralized drill hole intersections.
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 align well with conductivity anomalies from the earlier MobileMT survey, expanding the prospectivity of the Caballos concessions. The largest IP anomaly, C2-B, exhibits a classic porphyry signature with a strongly conductive and chargeable outer shell surrounding an inner core. The C4 anomaly shows a very strong, shallow chargeable feature with excellent access. At the Chincolco Creek target, prior drilling intersected mineralization from surface, and the associated geophysical anomalies (C3) could potentially extend known mineralization along strike and at depth.
The survey also included phase tensor analysis, which indicated dominant structural trends aligned roughly north-south or southwest-northeast, consistent with the Pocuro Fault Zone (PFZ). This orientation is being incorporated into the geological interpretation and exploration plan.
Fitzroy Minerals has integrated all geophysical and geological data to prepare a drilling program of approximately 5,500 meters, with five planned drill holes to test the key targets. Drilling is anticipated to start in September 2026. The company is systematically targeting major copper discoveries in Chile, and this IP survey further de-risks several large targets at Caballos. Future cash flow from the Buen Retiro Heap Leach operation is expected to fund non-dilutive exploration drilling.
Dr. Scott Jobin-Bevans, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
