Fitzroy Minerals Starts Drilling at the Caballos Copper Project, Chile
January 21, 2025
Fitzroy Minerals Starts Drilling at the Caballos Copper Project, Chile
VANCOUVER, BRITISH COLUMBIA, January 21, 2025 – FITZROY MINERALS INC. (TSXV: FTZ, OTCQB:
FTZFF) (“Fitzroy Minerals” or the "Company") is pleased to announce that diamond drilling has started
at the Caballos Copper Project, Chile (“Caballos”). A drilling program at the main southern anomaly will
test targets across the Pocuro Fault Zone (“PFZ”) and test the grade and dimensions of the mineralized
intrusive body and associated hydrothermal breccia. This southern anomaly comprises a distinctive
hydrothermal breccia and alteration zone running approximately 1.2 km north-south along the PFZ,
containing within it a 500 m-long mineralized felsic intrusion (Fitzroy Minerals news release dated July 29,
2024).
The felsic intrusion has copper-oxide staining along most of its width, with occasional fresh, disseminated
chalcopyrite, and an average grade of 0.84% Cu from rock chip samples. There is also an associated
molybdenum anomaly over approximately 980 m x 50 m, with an average grade of 897 ppm Mo from rock
chip samples.
The Caballos drilling program is a proof-of-concept exercise of approximately 500 m in one or two holes
from the same drill pad. Results will be announced once the core has been logged and assayed.
At Polimet, geophysical results are being incorporated into the final drill hole plan. After drilling is finished
at Caballos, the drill rig will move to the Polimet Gold-Copper-Silver Project for a drilling program of
approximately 2,500 metres. Drilling at Polimet is anticipated to start in February 2025.
Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, commented, "Ever since the BRGM reported
high-grade copper-gold results from stream sediment samples below the intrusion, breccia and alteration
zone in the 1960s, this Caballos anomaly has been a stand-out drill target. Subsequent exploration over
the years consistently reinforced the view that the anomaly should be drilled, and our mapping and
sampling has again confirmed this. We look forward to announcing the drilling results soon.”
Qualified Person
Dr. Scott Jobin-Bevans (P.Geo., Ph.D.), a Qualified Person as defined by National Instrument 43-101 and
independent geological consultant to the Company, has reviewed and verified the technical information
provided in this news release.
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About Fitzroy Minerals
Fitzroy Minerals is focused on exploring and developing mineral assets with substantial upside potential
in the Americas. The Company’s current property portfolio includes the Caballos Copper and Polimet Gold-
Copper-Silver projects located in Valparaiso, Chile, and the Taquetren Gold Project located in Rio Negro,
Argentina, as well as the Cariboo Project in British Columbia, Canada. Fitzroy Minerals’ shares are listed
on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under the symbol FTZFF.
On behalf of Fitzroy Minerals Inc.
Merlin Marr-Johnson
President and CEO
For further information, please contact:
Merlin Marr-Johnson
+1 604-505-4554
For more information on Fitzroy Minerals, please visit the Company's website: www.fitzroyminerals.com
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