FMR Resources Limited (ASX: FMR), a diversified explorer focused on battery and critical minerals, has announced the refinement of a significant drill target at the Southern Porphyry prospect. This prospect is part of the Llahuin Project, a joint venture with Southern Hemisphere Mining Limited in Chile. The announcement follows the reprocessing of multiple geophysical datasets, leading to the identification of a coherent target consistent with a large copper porphyry system.
The reprocessed data includes aeromagnetic, magnetotelluric (MT), and induced polarisation (IP) surveys. These surveys have revealed a distinct pattern of anomalies indicative of a copper porphyry system. Specifically, a magnetic body was identified south of the main target area, while an MT resistivity anomaly was located to the north, partially overlapping IP low resistivity anomalies. Strong IP chargeability anomalies also flank the magnetic body on its eastern and western sides. FMR believes this spatial arrangement is characteristic of mineralised porphyry systems.
According to FMR Managing Director, Mr Oliver Kiddie, the refined geophysics provides a sharper and more confident set of targets at Southern Porphyry. The alignment of magnetic, MT, and IP data, combined with surface mapping and historic drillhole data confirming alteration and geochemical signatures, presents a compelling case for the Phase I drill targeting. The company is currently finalising Phase I drill target selection and expects drilling to commence in early Q4 2025.
The geological setting of the Southern Porphyry target, within a 6 km-long mineralised corridor at Llahuin, further supports its potential. The company anticipates finalising drill contractor engagement in the coming weeks, securing statutory drilling approvals, and preparing the site for the commencement of Phase I drilling.
