Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) reported results from a helicopter-borne MobileMT airborne electromagnetic and magnetic survey at its Caballos copper project in Chile's Valparaiso Region. The survey, covering approximately 194 km² with 694 line-km, identified multiple conductivity and resistivity anomalies interpreted as porphyry-style hydrothermal systems connected to copper-molybdenum-gold mineralization intersected in 2025 drilling.
Highlights include a large circular conductive feature about 5 km in diameter, interpreted as a porphyry-related hydrothermal system directly linked to mineralization at the Chincolco prospect. Linear conductive anomalies connected to Chincolco drill holes suggest potential southward continuation for 2.5 km. Merlin Marr-Johnson, President and CEO, stated: "The MobileMT survey shows that Caballos hosts the type of plumbing architecture and conductive anomalies 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."
The survey was completed by Expert Geophysics Surveys Inc. (EGS) using the proprietary MobileMT broadband electromagnetic system. Conductive zones are spatially associated with the Chincolco Creek Breccia, where drilling in 2025 intersected copper-molybdenum-gold sulphides. A strong conductive feature dips eastward for 1.5–2 km before merging into the larger circular body, with roots exceeding 2 km depth. EGS interprets this as a structurally controlled zone of hydrothermal alteration and sulphide development consistent with a porphyry-related environment.
A linear conductive anomaly approximately 1.5 km long is evident along the north-south axis of the Chincolco prospect. Diamond 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 [News Release dated January 13, 2026]. The anomaly continues southeast from that hole, and the deeper, stronger portion remains untested. The linear anomaly is interrupted by a cross-cutting fault but resumes, reaching 2.5 km southeast of CAB-DDH004A, covered by thin Miocene volcaniclastic rocks.
A prominent north-south conductive corridor extends approximately 14 km across the project area, coincident with the Pocuro Fault Zone, interpreted as a crustal-scale permeable structure potentially channeling mineralizing magmatic fluids. 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 integrate the MobileMT results with geology, geochemistry, and drilling to define priority drill targets. EGS has been commissioned for 3D inversion of key areas, and a deep Induced Polarization (IP) survey is planned in Q2 2026 to measure chargeability from disseminated sulphides and stockwork mineralization. The company aims to 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, exercisable until April 29, 2031. Technical information in this release was reviewed by Dr. Scott Jobin-Bevans, P.Geo., a qualified person under NI 43-101. Fitzroy Minerals is focused on copper exploration in the Americas, including the Buen Retiro, Caballos, and Polimet projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in Canada.
