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.
Tackling Challenges at Caballos
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. This move would significantly reduce costs for the Caballos project as expenses related to renting horses and horse handlers have been on the rise. Waiting for the completion of the service road before initiating the drill program in September, or later, appears to be a prudent financial decision by Fitzroy Minerals.
Potential in Taquetren Project
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. The presence of Daniel Bussandri, the local prospector/geologist who discovered Navidad, highlights the potential for the new gold showing in Taquetren. The team’s focus on confirming grade, scale, and continuity in the upcoming exploration work indicates a strong commitment to unlocking the project’s full potential.
Fitzroy has a terrific team of managers and directors with ample experience in all aspects of exploration and development. This expertise is crucial in the junior resource space, underscoring the importance of experienced leadership in maximizing the chances of success for investors.
Stay tuned.
Important Disclosures:
- 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
This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.
