FMR Resources Shifts La Lorena Drilling to Esperanza Copper-Gold Target After La Martuca Access Disruption

Shwetambri Chauhan

04 November 2026 10:15 AM AEDT

FMR Resources Shifts La Lorena Drilling to Esperanza Copper-Gold Target After La Martuca Access Disruption

Image Source: Krish Capital Pty Ltd

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FMR Resources (ASX:FMR) has moved diamond drilling operations from the La Martuca prospect to the Esperanza prospect at its La Lorena Project in central Chile, following access road damage caused by unseasonal snow and rain at the higher-elevation La Martuca site, the company disclosed on 4 November 2026.

Key Points

Drilling has relocated to the Esperanza prospect, which lies below the recent unseasonal snow line at the La Lorena Project in central Chile.
La Martuca drillhole LLD0001 remains suspended at 170.1m, short of its planned depth of approximately 200m, with laboratory assays pending.
Five IP survey lines at Esperanza identified a strong chargeability response beneath the historic workings, with the strongest modelled chargeability on Line 6542450mN at approximately 500m below surface.
Rock chip sample 26LMR00032 at Esperanza previously returned 2.09% Cu and 0.30g/t Au.
FMR intends to return the drill rig to La Martuca to complete LLD0001 once safe access is restored.

Esperanza Prospect Drilling Commencement

Drilling operations have commenced at the Esperanza prospect, with the drill rig set up to collar the first-ever drill hole at the target. The initial holes will assess mapped mineralised structures and targets defined by IP, helicopter magnetics, and surface geology. Hole positions, orientations, and depths will be guided by integrated geological and geophysical interpretation. Esperanza lies at lower elevation than La Martuca, permitting drilling to continue while access road repairs are undertaken at the higher-elevation La Martuca site. The company described Esperanza as the second of several prospects it intends to test across the La Lorena Project.

Esperanza Geophysical and Geochemical Targets

Five IP survey lines at Esperanza identified a strong chargeability anomaly, designated IP Anomaly 1, beneath historic workings and within the Esperanza I helicopter magnetic (HeliMAG) anomaly. The strongest modelled chargeability occurs on Line 6542450mN at approximately 500m below surface, near the NNE-trending Tulahuén Fault and an interpreted trans-lithospheric structural corridor. The filing notes that chargeability may indicate sulphides but does not establish mineralisation or grade. A second, subtler chargeability response, IP Anomaly 2, occurs within the Esperanza II HeliMAG target approximately 1.3km southeast of Esperanza I. Geological mapping has also identified porphyritic intrusive outcrops, hydrothermal breccias, and phyllic alteration across western La Lorena.

La Martuca Status and Broader Target Pipeline

Drillhole LLD0001 at La Martuca was suspended at 170.1m, short of its planned depth of approximately 200m. The team identified several structures with visible copper mineralisation and a broader sulphide zone below approximately 115m, with laboratory assays pending at the time of the filing. FMR stated it intends to complete LLD0001 once road repairs and conditions allow safe access, with the larger IP chargeability target beneath historic La Martuca workings remaining a planned follow-up drill target. Beyond Esperanza, the La Lorena Project pipeline includes Esperanza II, Gatica, and five interpreted intrusive targets along the Eastern Structural Corridor.

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