"The discovery was made on the afternoon of Friday November 9.
"The searches were carried out after new information was passed to police about the possible whereabouts of the body of David Guilfoyle."
He added: "Whilst it is too early at this stage to confirm whether the body is that of David Guilfoyle we have specialist officers supporting David's family and they are aware of this development and are being kept fully informed."
Mr Guilfoyle was murdered at his home in Royds Avenue, Accrington, and despite the absence of his body police found a trail of blood splatterings proving he was attacked there.
Fitzpatrick was convicted of murder in July 2006 and jailed for life with a minimum 20-year term.
Mr Guilfoyle vanished after watching Liverpool win the 2005 Champions League at the Grey Horse pub, Whalley Road, Accrington.
He had driven away in his green Jaguar XK8 convertible but the alarm was raised when later on he did not answer his phone.
Mr Guilfoyle owned a series of properties but was also involved in the criminal underworld and made money selling smuggled cigarettes.