Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) announced the results of a helicopter-borne MobileMT airborne electromagnetic and magnetic survey completed by Expert Geophysics Services Inc. over the Caballos Project in the Valparaiso Region, Chile. The survey identified multiple conductivity and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems and linked to mineralization intersected in the company's 2025 diamond drilling program.
The survey covered 694 line-km over approximately 194 km², including a 200 m spacing infill over the Central Target area. A standout finding is a large circular strongly conductive feature approximately 5 km in diameter, interpreted as a porphyry-related hydrothermal system directly connected to copper-molybdenum-gold-rhenium mineralization identified at the Chincolco Prospect in 2025. Additionally, linear conductive anomalies linked to the Chincolco mineralized drill hole intercepts suggest a potential southwards continuation for 2.5 km.
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 was completed using EGS's proprietary MobileMT broadband electromagnetic system, designed to resolve deep crustal-scale conductive features. EGS interprets the strong conductive feature dipping eastward for approximately 1.5-2.0 km before merging into a larger circular body as a structurally controlled zone of hydrothermal alteration and sulphide development, consistent with a porphyry-related mineralizing environment. Diamond drill hole CAB-DDH004A intersected 176 m @ 0.31% Cu, 249 ppm Mo, 0.04 g/t Au (0.47% CuEq) from 156 metres, as reported in a January 13, 2026 news release. The anomaly continues to the southeast from that drill hole, with the deeper, stronger portion remaining untested.
The MobileMT survey also identified a prominent north-south conductive corridor extending approximately 14 km across the Caballos Project area, spatially coincident with the mapped trace of the regional Pocuro Fault Zone. EGS interprets this as a major crustal-scale permeable structure potentially serving as a 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. Fitzroy Minerals plans to follow up with further integrated data-processing and a ground Deep IP survey in Q2 2026 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 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 release. Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets in the Americas, including the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile.
