Highlights

  • FMR expanded Phase I diamond drilling at Llahuin’s Southern Porphyry target to more than 5,000 metres.
  • Four completed drill holes tested Targets A, C, K and L, providing geological and geophysical information.
  • Initial assays identified broad gold-molybdenum-copper anomalism in altered intrusive rock at several targets.
  • The company outlined Phase II drilling plans and expanded its Chilean portfolio with La Lorena and Los Warbos.

FMR Resources Limited (ASX:FMR) advanced its Chile copper exploration program during 2026, completing more than 5,000 metres of Phase I diamond drilling at Llahuin’s Southern Porphyry target. That program exceeded its original approximately 4,000-metre design and covered four targets. Shares traded at AUD 0.48 on 6 November 2026, down 4%. The company’s exploration strategy also expanded to include the La Lorena and Los Warbos project areas.

Drilling Tests a Deep Porphyry Interpretation

Four diamond holes were completed at Targets A, C, K and L. Initial assay information at A, C and K identified broad zones of anomalous gold, molybdenum and copper associated with altered intrusive rocks. Geological observations and geophysical anomalies supported the company’s interpretation of a potentially larger system at depth. Such an interpretation is a target for exploration, not a discovered economic orebody. The completed holes improved the geological dataset for planning further tests.

Geophysics Provides Context for the Results

FMR collected and interpreted magnetotelluric, induced-polarisation and magnetic information to understand the Southern Porphyry system. The geological model also draws on observed intrusive phases, alteration and sulphide mineralisation. The company reported that the combined information could help identify where drilling may intersect an interpreted core. Importantly, the presence of anomalies or visible sulphides cannot by itself establish mineral resources, grade continuity or project economics.

New Chile Projects Broaden the Portfolio

FMR’s La Lorena project covers a roughly nine-kilometre by six-kilometre area prospective for copper-gold-molybdenum mineralisation. The company also describes Los Warbos as a district-scale exploration opportunity with granted concessions and additional concession applications. These Assets are at different stages from the Llahuin drilling area. Prospective geological characteristics provide exploration targets; they do not amount to a completed discovery or development approval.

Phase II Drilling Remains a Planned Activity

FMR previously scheduled a second phase of drilling for the fourth quarter of 2026 to test the interpreted Southern Porphyry core. Its next decisions depend on integrated assay, geological and geophysical results. The stated schedule is a plan rather than confirmation that drilling commenced; an operational release would be needed to establish its actual status.