FMR Resources Advances Porphyry Copper Targets in Chile and Confirms Canadian Mineralisation

Phase I Drilling Highlights at Llahuin

FMR Resources Limited (ASX:FMR) has concluded its initial Phase I diamond drilling campaign at the Southern Porphyry target within the Llahuin Project joint venture with Southern Hemisphere Mining Ltd (ASX:SUH) in central Chile. The program delivered multiple broad zones of mineralised porphyry intrusions, with visible chalcopyrite and molybdenite sulphides noted across several drillholes, including 25LHDD071 at Target C, 26LHDD072 at Target K, and 26LHDD073 at Target L.

Drillhole 25LHDD071 was extended beyond its planned depth to 1,490.65 metres, intersecting pyrite-dominant, phyllic-altered zones with disseminated sulphides indicative of the peripheral halo of a larger mineralised system. Meanwhile, drillholes at Targets K and L confirmed extensive stockwork breccia and porphyry intrusive phases bearing copper and molybdenum mineralisation, consistent with porphyry-style hydrothermal systems. The mineral assemblages and structural measurements collectively suggest the main mineralised porphyry core lies further south, east, and at depth from current drill positions.

Downhole geophysical data from these drillholes have been integrated with surface geophysical models, refining the three-dimensional understanding of the system. This integration is crucial for vectoring towards the causative porphyry source and prioritising targets for the upcoming Phase II drill program. The Phase I results build on previous work and underline the extensive footprint of mineralisation beneath the Southern Porphyry target area. The company plans to release remaining assay results in the June 2026 quarter and proceed with Phase II drilling to test deeper and along strike positions.

Encouraging Assays at Goshen, Canada

Across the Atlantic, FMR’s Fairfield Project in New Brunswick, Canada, continues to show promise following initial assay results from the Goshen Prospect. The first drillhole, GSH-25-001, returned significant copper intersections, including 7 metres at 0.47% copper with 2 g/t silver, and a 1-metre interval grading 1.3% copper with 8 g/t silver. Mineralisation is hosted primarily in red bed sediments with chalcocite as the dominant sulphide.

These results confirm the presence of a mineralised system at Goshen that remains open in multiple directions, with further assays pending from additional holes. The company is integrating these results with recent Gradient-array Induced Polarisation (GAIP) geophysical surveys to refine exploration targets. Notably, exploration activities at Goshen benefit from the New Brunswick Junior Mining Assistance Program, which provides funding support covering up to 50% of eligible costs, reflecting government backing for junior explorers in the region.

Corporate and Financial Position

FMR Resources reported a cash balance of $3.077 million as at 31 March 2026, after investing $1.273 million in exploration and evaluation during the quarter. The company’s expenditure remains broadly aligned with its prospectus projections, although general and administrative costs have exceeded initial estimates. The Fintry Project in Ontario was relinquished this quarter due to low prospectivity, allowing FMR to focus resources on its higher-potential Chilean and Canadian assets.

On the corporate front, FMR appointed Jack Dowland as Chief Financial Officer during the quarter, bolstering the company’s executive team as it advances its exploration programs. The company continues to comply with ASX listing requirements and maintains transparency with investors through detailed reporting of exploration results and expenditure.

Strategic Outlook and Next Steps

FMR’s immediate focus is on integrating geological, geophysical, geochemical, and petrographic datasets from the Southern Porphyry target area to refine the 3D model of the mineralised system. This will inform the design of a targeted Phase II drilling campaign aimed at testing the interpreted porphyry core and higher-grade zones. In Canada, the company will assess the full suite of assay results from the 2025 drilling program at Goshen to plan future exploration activities.

The Llahuin Project’s proximity to infrastructure, including roads, electricity, and ports, combined with the region’s mining-friendly jurisdiction, positions FMR well to advance its copper-gold-molybdenum exploration. Similarly, the Fairfield Project benefits from its location within the prolific Appalachian Copper-Gold Belt.

These developments follow a series of focused drilling and geophysical programs, including the recent Phase II Drilling Planned and Broad Mineralised Zones at Target L updates, which have progressively refined FMR’s exploration model. The company’s methodical approach underscores the complexity of porphyry systems and the importance of integrated datasets in vectoring towards economically viable mineralisation.