Fitzroy Minerals Completes Acquisition of Ptolemy Mining: A New Era of Copper Discovery
VANCOUVER, BRITISH COLUMBIA, March 31, 2025 – Fitzroy Minerals Inc. (TSXV: FTZ, OTCQB: FTZFF) is proud to announce the successful completion of its acquisition of Ptolemy Mining Limited. This significant milestone marks a turning point for Fitzroy Minerals as it sets its sights on commercially viable copper resources in the Chilean coastal IOCG (Iron Oxide Copper Gold) belt.
A Strategic Move Towards Copper Discovery
The acquisition of Ptolemy, which was announced in a series of news releases between October 2024 and February 2025, has given Fitzroy Minerals access to an extensive portfolio of exploration projects in Chile. Merlin Marr-Johnson, CEO and President of Fitzroy Minerals, expressed his excitement about the opportunity:
“We are thrilled to announce the successful completion of this acquisition. With this transaction, we are well positioned to target commercially viable copper resources in the Chilean coastal IOCG belt. This is an exciting time for our Company, and we look forward to the potential discoveries that lie ahead.”
Fully Funded for an 8,000-meter Drill Program
In addition to the acquisition, Fitzroy Minerals has completed a concurrent financing, ensuring that the Company is fully funded for an 8,000-meter drill program at the Buen Retiro Copper Project in 2025. This financial boost will allow Fitzroy Minerals to advance its projects and explore new opportunities more effectively.
Welcoming a New COO: Gilberto Schubert
Fitzroy Minerals is also pleased to welcome Gilberto Schubert as its new Chief Operating Officer. Schubert’s extensive expertise in resource development and operational leadership will be invaluable in advancing the Company’s projects and strengthening its team.
Impact on Individuals: A Potential Boost to the Mining Industry
The successful completion of this acquisition by Fitzroy Minerals could lead to significant advancements in the mining industry, specifically in the exploration and discovery of copper resources. This could result in the creation of new jobs and economic opportunities, particularly in Chile where the acquisition focuses.
Global Implications: Enhancing Copper Supply
On a larger scale, the acquisition of Ptolemy by Fitzroy Minerals could contribute to the global copper supply. Copper is a critical metal used in various industries, including construction, manufacturing, and transportation. Enhancing the copper supply could lead to increased economic growth and development, particularly in countries reliant on copper exports.
- Fitzroy Minerals completes acquisition of Ptolemy Mining
- Access to Chilean coastal IOCG belt for copper discovery
- Fully funded for an 8,000-meter drill program in 2025
- New COO, Gilberto Schubert, joins the team
- Potential for new jobs and economic opportunities
- Contributes to the global copper supply
Conclusion
The successful completion of Fitzroy Minerals’ acquisition of Ptolemy Mining marks an exciting new chapter for the Company as it sets its sights on commercially viable copper resources in the Chilean coastal IOCG belt. With a fully funded drill program and a talented new COO, Fitzroy Minerals is well positioned to make significant discoveries and contribute to the global copper supply. The potential impact on individuals and the mining industry as a whole could be substantial, with new jobs and economic opportunities arising from this acquisition.
