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 at its Caballos Copper Project in the Valparaíso Region, Chile. The survey, conducted by Southernrock Geophysics S.A. (SRG), has identified multiple chargeability and resistivity anomalies that the company interprets as 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 follow up on conductivity anomalies previously identified by a heli-borne MobileMT survey. The results highlight two major targets: 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 feature on trend with existing mineralized drill hole intersections. These anomalies, along with others (C1, C2-A, C3), are evident in both 2D and 3D inversion models.
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 correlate well with the conductivity anomalies from the earlier MobileMT survey, expanding the prospectivity of the Caballos concessions. The largest IP anomaly, C2-B, displays a classic porphyry signature with a strongly conductive and chargeable outer shell surrounding an inner core, indicative of potential copper mineralization. The C4 anomaly is a very strong, shallow chargeable feature with excellent access, situated near the junction of the Pocuro Fault Zone (PFZ) and an east-west structure hosting the Alicahue River.
The survey also provided insights into the Chincolco Creek Target, where prior drilling intersected abundant sulphide mineralization. Although the associated conductivity anomalism was weak due to disseminated mineralization and abundant quartz and gypsum veining, a subtle anomaly extends to the south and at depth along the projection of the PFZ, suggesting potential for extending known mineralization.
Phase Tensor analysis revealed a tendency for long axes of phase tensor ellipses to align roughly north-south or southwest-northeast, indicating dominant structural trends that align with the PFZ. This information is being incorporated into the geological interpretation and exploration plan.
Based on these results, Fitzroy Minerals has planned a compact drilling program of approximately 5,500 meters, with five drill holes designed to test the key targets. Drilling is anticipated to start in September 2026. The company notes that future cash flow from its Buen Retiro Heap Leach operation is expected to fund non-dilutive exploration drilling.
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 news release.
