FMR Completes Maiden Drilling at Demoiselle; Stakes High-Grade Goshen Copper Project
FMR Resources has completed its inaugural drilling program at the Demoiselle Prospect within the Fairfield Copper Project, with assay results expected shortly. The company also expanded its portfolio by staking the high-grade Goshen Copper Project, positioning itself for a robust exploration campaign in 2025.
- Maiden drilling program completed at Demoiselle Prospect, Fairfield Copper Project
- Assay results from drilling expected in May 2025
- High-priority copper targets identified via airborne VLF EM survey
- Acquisition of Goshen Copper Project with historic high-grade mineralisation
- Ongoing target generation at Fintry Rare Earth Elements Project
Maiden Drilling Marks a Milestone at Fairfield
FMR Resources Limited (ASX: FMR) has successfully completed its maiden drilling program at the Demoiselle Prospect, part of its 100% owned Fairfield Copper Project in New Brunswick, Canada. The six reverse circulation holes drilled in early 2025 aimed to test extensions of historical copper mineralisation and anomalies identified through recent airborne geophysical surveys.
Samples from this drilling campaign have been submitted for assay, with results anticipated in May. These results are eagerly awaited as they will provide critical insights into the subsurface mineralisation and help prioritise targets for further exploration across the project.
Airborne Geophysics Unveils Multiple Targets
Complementing the drilling, FMR received and interpreted data from a very low frequency electromagnetic (VLF EM) and magnetics survey conducted by drone in late 2024. This survey, processed with advanced 3D inversion modelling, highlighted several high-priority copper targets across the Fairfield Project, including Dorchester North, Demoiselle South, Lower Cape, and Tantramar.
These targets are characterised by coincident geophysical anomalies and geochemical copper soil anomalies, some of which have never been drill tested. The integration of geophysical and historical data positions FMR to strategically focus its exploration efforts in 2025.
Strategic Expansion with Goshen Copper Project Acquisition
During the quarter, FMR opportunistically staked the Goshen Copper Project, also in New Brunswick and located approximately 40km west of Fairfield. This project boasts a history of high-grade copper mineralisation, with drilling results including intercepts such as 7.47m at 1.29% Cu and 1.54m at 3.41% Cu.
The Goshen Project shares a similar geological setting to Fairfield, enhancing FMR’s regional footprint in a prolific copper belt. The company is currently compiling data and generating targets, with plans to initiate fieldwork in parallel with Fairfield activities.
Progress at Fintry Rare Earth Elements Project
FMR’s exploration is not limited to copper. At the Fintry REE Project in Ontario, Canada, the company continues target generation work using hyperspectral and open file datasets. With spring approaching, field activities are set to commence, including track clearing and geological inspections to refine exploration targets.
Financial Position and Outlook
As of 31 March 2025, FMR Resources reported a cash balance of approximately AUD 2.85 million, with exploration expenditure of AUD 282,000 during the quarter. The company has not yet commenced production activities, focusing instead on advancing its exploration pipeline and reviewing potential acquisitions to diversify its commodity exposure.
Looking ahead, FMR plans to integrate assay results from Demoiselle drilling, follow up on geophysical targets with ground surveys, and expand fieldwork at Goshen and Fintry. These steps underscore a methodical approach to unlocking value across its Canadian portfolio.
Bottom Line?
With assay results imminent and strategic acquisitions underway, FMR Resources is poised to deepen its foothold in Canada’s copper and critical minerals landscape.
Questions in the middle?
- What will the assay results from the Demoiselle drilling reveal about the project's copper potential?
- How will the acquisition of the Goshen Copper Project influence FMR’s exploration strategy and capital allocation?
- What are the timelines and expected milestones for advancing the Fintry REE Project into active field exploration?
