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Applyflow Limited ( (AU:FMR) ) has issued an announcement.
FMR Resources has secured conditional rights over key mining concessions and contiguous exploration applications to create the wholly owned La Lorena Project in Chile, covering about 54 square kilometres in a fertile Eocene-aged magmatic belt that hosts major porphyry copper deposits such as Escondida. The project lies roughly 30 kilometres northeast of FMR’s Llahuin joint venture and has seen only small-scale historic mining at prospects including La Martuca, Los Morados and Esperanza, where underground rock chip sampling by FMR has already returned copper grades of up to 4.11%.
The acquisition gives FMR a rare, contiguous exploration footprint along a proven copper-gold metallogenic corridor that has never been systematically explored or drill tested, positioning the company for potential discovery-led growth. FMR has begun geological mapping, surface sampling and geophysical surveys to fast-track an inaugural drilling program targeted for the fourth quarter of 2026, underscoring its strategy of adding assets that can materially impact its copper-gold portfolio and exploration pipeline.
More about Applyflow Limited
FMR Resources Limited is an Australian mineral exploration company focused on copper and gold projects. The company is active in South America’s Eocene-aged magmatic belts, targeting highly prospective, underexplored ground with potential for large-scale porphyry and hydrothermal copper-gold systems.
Average Trading Volume: 128,771
Technical Sentiment Signal: Sell
Current Market Cap: A$10.07M
Learn more about FMR stock on TipRanks’ Stock Analysis page.