Fitzroy Minerals Starts Heliborne Mobile MT Geophysical Survey at Caballos Copper Project, Chile

The most recent news release (February 11, 2026) announces the commencement of a 750 line-kilometre heliborne MobileMT geophysical survey at the Caballos Copper Project in Chile. The survey aims to generate a three-dimensional image of the subsurface to a depth of 1 km to 2 km. This initiative is designed to trace mineralized breccias previously identified through drilling and to identify conductive sulfide bodies that may represent the "roots" or source of a mineralized porphyry system. Results and interpretation are expected in March 2026.

The February 11 news is a routine exploration step, but its context is significantly enhanced by the results reported just two days prior. On February 9, 2026, the company reported material drilling results including 108 m at 0.41% Cu and 77 m at 0.46% Cu at Buen Retiro, alongside the decision to move the project to a Pre-Feasibility Study (PFS) in joint venture with Pucobre.

The impact of the current geophysical survey is: - Strategic Vectoring: It provides the technical data necessary to transition from "scout" drilling to targeted discovery drilling at Caballos. - Project Validation: By looking deeper (1-2 km), the company is testing the thesis that Caballos is a large-scale Chilean porphyry system rather than just isolated breccia pipes. - Budget Deployment: It indicates the company is successfully deploying the capital raised in mid-2025 into high-impact technical work.

Fitzroy Minerals is a Chile-focused copper and gold explorer. Its flagship project is Buen Retiro, an IOCG (Iron Oxide Copper Gold) deposit in the Atacama region. The project features a 1.7 km oxide zone and is being fast-tracked toward a heap-leach production scenario. The secondary flagship is Caballos, located in the Valparaiso region, which is currently being explored for a large-scale Cu-Mo-Au-Re porphyry system.