Fitzroy Minerals has completed a ground-based Deep Induced Polarization chargeability and resistivity survey at the Caballos Copper Project in the Valparaíso Region of Chile, returning multiple anomalies interpreted to be consistent with porphyry-style hydrothermal systems.

Conducted by Southernrock Geophysics S.A., the survey covered four lines totaling 18.4 line-kilometres across main conductive anomalies previously identified by a helicopter-borne MobileMT survey. The work outlined several key targets, including the 3-kilometre-wide C2-B anomaly, which exhibits a porphyry cross-section with an outer shell surrounding an inner core, and the 1-kilometre-wide, shallow C4 anomaly located on trend from existing drill intersections.

“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.”

“Interestingly, the IP chargeability anomalies match up well with the conductivity anomalies highlighted in the prior MobileMT survey, which opens up the prospectivity of the Caballos concessions given the MobileMT survey covered a much larger area than the ground IP survey. The largest IP anomaly, C2-B, is consistent with a classic porphyry signature, comprising a strongly conductive and chargeable (pyritic?) outer shell surrounding an inner core. Elsewhere, the C4 anomaly has a very strong, shallow chargeable feature with excellent access. At the Chincolco Creek target, mineralization intersected from surface in prior drilling has associated geophysical anomalies (C3) that could potentially extend known mineralization along strike and at depth.”

— Merlin Marr-Johnson, President and CEO

Fitzroy Minerals plans to commence a diamond drilling program of approximately 5,500 metres at the Caballos Project in September 2026 to test the C2-B, C3, and C4 targets.

Read the full announcement: Revised: Deep IP Survey Identifies Multiple Large Chargeability Anomalies Linked to Copper-Molybdenum-Gold Drill Hole Intercepts at the Caballos Copper Project, Chile