Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has announced results from a helicopter-borne MobileMT airborne electromagnetic and magnetic survey at its Caballos Project in the Valparaiso Region, Chile. The survey, completed by Expert Geophysics Services Inc. (EGS), identified multiple conductivity and resistivity anomalies interpreted as consistent with porphyry-style hydrothermal systems linked to mineralization intersected in 2025 diamond drilling.
The survey covered 694 line-km over the main Caballos concession block, approximately 194 km², including a 200 m spacing infill over the Central Target area. A key finding is a large circular strongly conductive feature about 5 km in diameter, interpreted as a porphyry-related hydrothermal system directly connected to copper-molybdenum-gold-rhenium mineralization encountered at the Chincolco Prospect in 2025. Additionally, linear conductive anomalies were identified, directly connected to Chincolco mineralized drill hole intercepts, with a potential southward continuation for 2.5 kilometres.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, stated: “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.” He added that the company will follow up with integrated data-processing and a ground Deep IP survey to gain chargeability information and improve target ranking ahead of drilling.
EGS used the proprietary MobileMT broadband electromagnetic system designed to resolve deep crustal-scale conductive features. The survey identified conductive zones spatially associated with the Chincolco Creek Breccia, where copper-molybdenum-gold sulphide mineralization was intersected in 2025. A strong conductive feature dips eastward for approximately 1.5-2.0 km before merging into the larger circular conductive body. The anomaly retains a strong cylindrical aspect at depth, with roots extending beyond 2 km depth. EGS interprets this as a structurally controlled zone of hydrothermal alteration and sulphide development consistent with a porphyry-related environment.
Drill hole CAB-DDH004A, the southernmost along the breccia, 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 linear Chincolco conductive anomaly extends 2.5 km southeast of this hole, interrupted by a cross-cutting fault, and is covered by thin Miocene volcaniclastic rocks.
The survey also identified a prominent north-south conductive corridor extending 14 km along the Pocuro Fault Zone, interpreted as a major crustal-scale permeable structure and potential pathway for mineralizing magmatic fluids. Further north, resistivity patterns characteristic of hydrothermal breccia-associated porphyry systems were observed, comparable to those at El Teniente and La Huifa in Chile, supporting a district-scale mineralizing system.
Fitzroy Minerals plans to complete a 3D inversion of key areas with EGS and integrate the data with drilling, structural interpretation, alteration mapping, and geochemical datasets through AI-enhanced processing. A Deep IP survey is planned for Q2 2026 to gain chargeability information and upgrade conductivity anomalies into ranked drill targets.
The company also announced the grant of 5,770,000 stock options to directors, officers, and consultants at $0.50 per share until April 29, 2031, under its stock option plan. The technical information in this release was reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a Qualified Person as defined by NI 43-101.
