In a March 16 contributed opinion piece for Streetwise Reports, Michael Ballanger noted that Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB) had completed the first tranche of a CA$18.8 million financing at CA$0.50 per share, with the stock closing the week at CA$0.38. He wrote that the company’s two primary projects in Chile were located in a mining-friendly jurisdiction and described them as having “high prospectivity.”

On April 29, Ballanger offered an update, stating, “The attached news release is precisely why I own an exceedingly large position in Fitzroy Minerals Inc. – the “blue-sky” potential is off-the-charts with billions of dollars of market cap lying in front of us. The stock at any level under CA$.50 is ridiculously cheap.

²Fitzroy Minerals Inc. has a market cap of CA$152.46 million, with 327.87 million shares outstanding. The company’s 52-week range is CA$0.24-CA$0.73.

Management and Insiders own 11% of shares, while Institutions own 2%. Strategic Investors own 25% of shares, and the remaining 62% of shares are held by Retail.

Coppernico Metals Inc. 

Coppernico Metals Inc. (COPR:TSX; CPPMF:OTCQB; 9l3:FSE) reported that it has expanded its land position at the Sombrero Project in Peru through an option agreement and additional staking near its Tipicancha target. The company secured an option on 600 hectares of mineral concessions, known as the Horizonte Concessions, located adjacent to the target area where it believes the mineral system extends beyond current boundaries.

The company also stated that it staked an additional 1,400 hectares of surrounding concessions in 2025 while discussions for the Horizonte Concessions were underway. With these additions, the Sombrero Project now covers approximately 57,000 hectares. The option agreement, entered into through its wholly owned subsidiary Sombrero Minerales S.A.C., provides immediate rights to conduct exploration and the ability to acquire the concessions through US$3.0 million in staged work expenditures over five years, along with total payments of US$2.0 million.

Under the terms of the agreement, Coppernico retains full operational control during the option period. If exercised, the option includes a 1% net smelter return royalty, with the company holding the right to reduce it to 0.5% through a one-time US$1.0 million payment within 10 years. The company stated that the concessions are in good standing with no known encumbrances or environmental liabilities.

Chair and Chief Executive Officer Ivan Bebek said in a company news release that the company had secured the concessions ahead of planned drilling activity, noting, “We are pleased to have secured these strategic concessions prior to the commencement of drilling at our adjacent Tipicancha target, where we are currently in the process of seeking drilling permits.”

The Horizonte Concessions are located about 2.5 kilometers south of the Tipicancha target. Historical work conducted between 2006 and 2007 included mapping, surface sampling, and three reverse-circulation drill holes, which identified advanced argillic alteration, gold-bearing structures, and geochemical anomalies across an area measuring approximately 800 meters by 500 meters. Vice President of Exploration Tim Kingsley stated in a company news release that these findings “help validate the structural framework and alteration zonation we are defining and reinforce the scale and exploration potential of the broader Tipicancha target.”

In a September 4 research update, 3L Capital analyst Steven Therrien reviewed exploration results from the Sombrero district and identified the Nioc target area as part of a broader copper skarn system. He wrote that “interpreted skarn systems at Nioc’s Zones 1 and 2 could represent a system measured in the hundreds of millions of tonnes” if mineralization is confirmed at depth, and noted that several priority targets across the district remain untested with modern drilling.

The company reported that it is seeking drilling permits for the Tipicancha target and plans to begin exploration work on the Horizonte Concessions, including geophysical surveys and drilling. It has also filed a semi-detailed environmental impact assessment to expand its permitted drill area at the Sombrero Project from 904 hectares to approximately 3,024 hectares, increasing drill platforms from 38 to 181 pads, subject to approval.

²Coppernico Metals is owned by strategic investors, including Teck Resources Ltd. (TECK:TSX; TECK:NYSE) with 9.9% and Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) with approximately 5.6%. 

Overall, the ownership of Coppernico is 18.37% by institutions, 15.54% strategic entities, 5.13% management and insiders, and the rest, 60.96%, is retail.

Coppernico has 177.3 million outstanding shares, and its market cap is CA$63 million. Its 52-week range is CA$0.12–CA$0.56 per share. 

Orestone Mining Corp.

Orestone Mining Corp. (ORS:TSXV; ORESF; OTC; O2R2:FSE) reported that it has completed a Phase 1 exploration program at its Francisca Gold Project in Salta Province, Argentina. The program focused on mapping and sampling, which the company said outlined a sericite argillic altered gold stockwork system hosted in feldspar porphyry and hornfels.

At the South Gold zone, mapping results indicated a stockwork width ranging from 40 to 70 meters, averaging 50 meters, along a strike length of approximately 400 to 500 meters. The company described the zone as consisting of altered porphyry and hornfels host rocks cut by a dense stockwork of limonite veinlets with quartz centers, including both vertical and shallow-dipping structures.

At the North Gold zone, the company reported the identification of three sub-parallel, en-echelon altered and mineralized zones. These zones averaged 40 to 50 meters in width, with individual strike lengths between 100 and 150 meters. Two of the mapped zones were described as containing sericite-altered quartz manganese stockworks.

A total of 675 samples were collected during the program, with sample lengths ranging from one to three meters. The samples are to be analyzed using fire assay methods for gold and ICP analysis for 39 elements.

Orestone stated that it can earn up to an 85% interest in the Francisca property and noted that exploration can be conducted year-round due to favorable infrastructure in the region. The company’s portfolio includes gold, silver, and copper projects located in Canada and Argentina.

¹In a March 16 contributed opinion piece for Streetwise Reports, technical analyst John Newell of John Newell & Associates assigned the company a “Speculative Buy” rating and noted that its previous price target of CA$0.15 had been achieved. He set additional targets at CA$0.23 and CA$0.40 and commented on the company’s project portfolio, stating that “because these projects are located in opposite hemispheres, exploration programs can often advance in one jurisdiction while seasonal conditions slow activity in the other.”

The company indicated that further prospecting and mapping results from areas north and south of the known zones at Francisca will be released in the near term. It also stated that the next phase of work at its Captain gold porphyry project in British Columbia will include drilling two to three holes of approximately 1,000 meters each, targeting the center of a geophysical conductor.

²Orestone Mining Corp. has a market cap of CA$7,504,288 million, with 106,993,563 shares outstanding. The company’s 52-week range is CA$0.04-CA$0.175. Institutions own 8.13% of shares, while Management & Insiders own 8.00%. The remaining 83.87% of shares are Retail.

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