Expert Says Exploration Co.'s Gold Project Is Shaping Up

Source: Michael Ballanger 05/03/2024

Michael Ballanger of GGM Advisory Inc. shares his thoughts on Fitzroy Minerals Inc. after having a discussion with its chairman.

I had an excellent discussion yesterday with Fitzroy Minerals Inc. FTZFF Chairman Campbell Smyth and CEO/Director Merlin Marr-Johnson who contacted me from Merlin's home office in NW London (U.K.).

Without going into detail, subscribers should be prepared for an onslaught of news on the three main projects as preparations are being made for a 3,000-metre program at Caballos and a 2,000-metre program at Polimet. After consulting with Fitzroy Minerals' Qualified Person, Dr. Scott Jobin-Bevans, and corporate consultant Gilberto Schubert, FTZ management has decided to drill Polimet first due to its proximity to existing infrastructure and due to the presence of numerous copper and copper-gold mining operations situated between 1,000 and 1,600 meters above sea level.

In the graphic shown below, it should be noted that values running over 2% copper (Cu) and over 16 grams per tonne gold (g/t Au) have been reported in mining operations such as Guanaco-Lazo, El Bronce, Pedro de Valdivica, and at Santa Margarita, located immediately below Polimet.

The high-grade mineralization is prevalent in the area depicted by the green shading, so it is plainly obvious that a well-constructed drill program will have a high probability of encountering the mineralized envelope between 1,000 and 1,600 meters ASL.

As for the Caballos project, the company has learned that multinational gold mining giant Newmont Corp. NEM has applied for permission to build a service road to their property and, once completed, would shave significant costs from the Caballos budget as the expenses of renting horses and horse handlers has escalated sharply in recent months. This could push out the drill program to September (or longer), as it makes perfect sense to wait for the road access before incurring unnecessary expenses.

Lastly, again, without going into too much detail, the Taquetren Project, located in Patagonia, Argentina, is shaping up to be a very interesting gold project and very much the immediate focus for the FTZ management team. I have always told subscribers that the key to Taquetren was (and is) Daniel Bussandri, the local prospector/geologist who discovered Navidad, the 800- 800-million-ounce silver deposit currently owned by Pan American Silver after buying it for US$640 million in 2009.

The new gold showing has the potential for grade and scale, with the third key component being "continuity" and that is precisely what the team will seek to confirm when they go to work in the Patagonian spring.

Fitzroy has a terrific team of managers and directors with ample experience in all aspects of exploration and development. This is critical when investing in the junior resource space, so keep that in mind when reading these press releases, all designed to help new prospective investors handicap the likelihood of a major discovery and windfall.

Stay tuned.

Important Disclosures:

1. Michael Ballanger: I or members of my immediate household or family, own securities of: All. My company has a financial relationship with Fitzroy Minerals Inc. I determined which companies would be included in this article based on my research and understanding of the sector.
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Michael Ballanger Disclosures

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