FMR Resources Limited (ASX:FMR) (FMR or Company) is pleased to announce it has entered into aconditional Binding Term Sheet giving it the right to earn up to a 60% interest in a highly prospectivecopper-gold-molybdenite project in central Chile (Transaction).
The Company will joint venture (JV)into selected tenements (the JV Tenements or Concessions) within the Llahuin Project (Llahuin or theProject) held by Southern Hemisphere Mining Ltd (SUH) which overlie the Southern Porphyry Target.
The Southern Porphyry JV gives FMR exposure to a potential Company-making discovery. Coincidentaldatasets captured across the Southern Porphyry target area suggest a large, untested copper porphyrysystem below historic exploration. With proven fertility along a ~6km corridor at Llahuin, includinghistoric shallow copper porphyry mineralisation directly above the Southern Porphyry target, this JVdelivers FMR drill-ready targets for Q4 2025. The Company looks forward to updating shareholders aswe progress towards maiden drilling of these exciting targets.
In conjunction, FMR is pleased to announce the appointment of Oliver Kiddie as Managing Director.Mr Kiddie is a geologist with over 20 years’ experience across exploration, resource definition, projectdevelopment, and production throughout Australia and internationally. He has extensive experiencein base metal and gold exploration through senior management, executive, and directorship positions,including Dominion Mining, European Goldfields, the Creasy Group, and Legend Mining.
Oliver Kiddie said: “I am very excited to be joining the FMR team as the Company expands itsexploration portfolio with the Llahuin Project in Chile. I look forward to leading the Company throughthe next stage of growth and working with the experienced SUH team as the compelling SouthernPorphyry drill targets are tested in Q4 this year, with the clear aim of a Company-making discovery.”
Oli the kid new MD for FMR and also brought in new capital via Creasy camp!
Interesting transaction and timing by Oli the kid leaving LEG!
LEG Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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