FMR Resources Secures 60% Stake in Chile’s Llahuin Copper-Gold JV with Drilling Set for Q4 2025
FMR Resources has completed due diligence and a $2.2 million placement to earn a majority interest in Southern Hemisphere Mining’s Llahuin Copper-Gold Project, setting the stage for drilling at a promising porphyry target later this year.
- FMR Resources earns up to 60% interest in Llahuin Project’s southern concessions
- Completion of $2.2 million placement with Mark Creasy joining as substantial shareholder
- Joint venture targets large Southern Porphyry Copper-Gold system in Chile
- Deep drilling planned for Q4 2025 to test high-potential copper-gold targets
- JV validates district’s exploration potential and offers significant upside
Strategic JV Advances Copper-Gold Exploration in Chile
FMR Resources Limited (ASX – FMR) has taken a decisive step forward in its copper-gold exploration ambitions by completing technical due diligence and securing the right to earn up to a 60% interest in the southern portion of Southern Hemisphere Mining’s Llahuin Copper-Gold Project in Chile. This move, formalised through a joint venture agreement, focuses on four selected concessions that include the highly prospective Southern Porphyry Copper-Gold target.
The transaction is underpinned by a $2.2 million placement, which notably attracted renowned resource investor Mark Creasy as a substantial shareholder in FMR. This capital injection not only strengthens FMR’s financial position but also signals strong market confidence in the JV’s potential.
Unlocking a Potential Company-Making Discovery
The Llahuin Project has long been recognised for its latent potential, and the Southern Porphyry target area is now poised for a significant exploration push. Coinciding datasets suggest the presence of a large, yet untested, copper porphyry system beneath historic shallow mineralisation. The JV partners plan to commence deep drilling in the fourth quarter of 2025, aiming to unlock this potential and possibly deliver a discovery that could reshape the companies’ futures.
Southern Hemisphere Mining’s Chairman, Mark Stowell, expressed optimism about the partnership, highlighting the strategic validation the JV brings to the district’s exploration prospects. FMR’s Managing Director, Oliver Kiddie, echoed this sentiment, emphasising the importance of the upcoming drilling phase and the value of having a seasoned investor like Creasy on board.
Broader Implications for the Copper-Gold Sector
This JV aligns with broader trends in the mining sector, where well-funded exploration programs are critical to meeting the growing demand for copper and gold, essential metals for the global energy transition. FMR’s diversified portfolio, including battery and critical minerals projects in Canada, complements its Chilean copper-gold focus, positioning the company to leverage multiple growth avenues.
While the drilling results remain to be seen, the completion of this JV and the associated capital raise mark a pivotal moment for both companies. Investors will be watching closely as the exploration program unfolds, with the potential for significant value creation hinging on the success of the Southern Porphyry drilling campaign.
Bottom Line?
With drilling imminent, the Llahuin JV could soon reveal whether this copper-gold story delivers on its promising potential.
Questions in the middle?
- What are the detailed terms and potential dilution impacts of the JV for existing shareholders?
- How will the upcoming drilling results influence FMR’s and Southern Hemisphere’s market valuations?
- What further exploration or development plans might follow a successful drilling campaign?
