FMR Resources Limited (ASX:FMR), a diversified explorer focused on battery and critical minerals exploration and development, has announced the completion of its due diligence to proceed with a joint venture with Southern Hemisphere Mining Limited (ASX:SUH) on the Llahuin Copper-Gold Project in Chile. FMR will earn up to a 60% interest in four selected concessions that form the southern portion of the project, including the Southern Porphyry Copper-Gold Target. FMR Resources is committed to delivering value through strategic exploration and development of critical mineral assets, aiming to contribute to the global transition towards sustainable energy solutions.
The transaction gives Southern Hemisphere Mining shareholders exposure to an exploration program, with deep drilling planned for Q4 2025 targeting the Southern Porphyry Copper-Gold prospect. FMR Resources has also successfully completed a $2.2 million placement in connection with the transaction. Mark Creasy, a resources investor, has become a substantial shareholder on the FMR register as part of this placement.
Oliver Kiddie, Managing Director of FMR, commented that the completion of the Llahuin JV transaction is an important step as FMR embarks on phase one drilling of the Southern Porphyry target area. Mark Stowell, Chairman of Southern Hemisphere Mining, stated the company is delighted to welcome FMR to the Llahuin Copper-Gold Project and looks forward to joint exploration success across the Southern Porphyry zone.
The joint venture tenements overlie the Southern Porphyry Target. Coincidental datasets captured across the Southern Porphyry target area suggest a large, untested copper porphyry system below historic exploration, delivering drill-ready targets for Q4 2025. FMR’s announcement provides further details.
