FMR Resources Commences First-Ever Drilling at La Lorena in Chile
Key Takeaways
- FMR Resources has begun the first-ever drilling at the La Lorena Project in Chile, starting at the La Martuca Prospect as stage one of a +2,000m diamond program.
- The program is planned to run 10 to 12 weeks, with assays expected 6 to 8 weeks after the first hole is completed, so the first hard data is close.
- Rock chips around the old artisanal workings returned up to 5.32% Cu, but they are surface samples and not drill results.
- An IP chargeability feature sits next to known mineralisation, and the holes are designed to test its source and the continuity between historical mine levels.
- Follow-up drilling has no set timeline and depends on results, so the assays are the make-or-break catalyst for what comes next.
FMR Resources begins first-ever drilling at La Lorena Project
FMR Resources has commenced drilling at the La Martuca Prospect within the La Lorena Project in central Chile, as the first stage of a +2,000m drilling program. The company confirmed on 5 October 2026 that this is the first-ever drill program at the project.
For investors, that moves the story from desktop and geophysics work to physical testing. Assay results are the next potential catalyst, though none have been reported yet.
Key points from the announcement:
- First-ever drill program at the La Lorena Project
- Initial program planned for a minimum of 2,000m of diamond drilling
- Planned duration of 10 to 12 weeks
- Assays expected 6 to 8 weeks after completion of the first drillhole
Managing Director Oliver Kiddie linked the milestone to the project’s timeline, noting it comes “only 5 months after securing the Project.”
Oliver Kiddie, Managing Director
“Drilling of the first-ever drillhole at the La Lorena Project marks another important milestone for FMR only 5 months after securing the Project. A +2,000m program has been designed across La Lorena, beginning at the La Martuca prospect…”
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What will the drilling test at La Martuca?
The aim is to check whether what the surface work and geophysics suggest is actually there at depth. Here is what the company has designed the holes to examine.
Targets
The program is designed to test the continuity of mineralisation between the historical artisanal mine levels (small-scale, informal workings), identify extensions to the known mineralised structures, and investigate IP chargeability and magnetic features. IP, or induced polarisation, is a geophysical survey method that measures how well the ground holds an electrical charge, and chargeability is that measurement.
One chargeability feature is spatially related to the known mineralisation at La Martuca. Drilling will test the geological source of the multiple IP features and their relationship to the known mineralisation along strike.
Rock chip support
Rock chip samples collected around the artisanal workings, previously reported on 26 May 2026, returned the following copper results shown in the announcement:
- 2.19% Cu (sample 26LMR00018)
- 3.93% Cu (sample 26LMR00019)
- 5.32% Cu (sample 26LMR00030)
The company states that the spatial association between chargeability and known mineralisation supports drill targeting but does not establish the presence, grade or continuity of mineralisation within the modelled features. Drilling will determine the nature of the chargeable material and test the geological interpretation.
In plain terms, these are surface samples and a geophysical signal that justify drilling. They are not drill results.
How do drill holes test geophysical anomalies?
Geophysical surveys such as IP and magnetics highlight features below the surface that may be worth investigating. Drilling is how a company checks what those features actually are, and assays (laboratory analysis of the rock samples) are the proof point that shows whether metals are present and at what grade.
The setting adds context. The announcement describes Eocene-aged volcanic and intrusive rocks overlying and locally intruding older Cretaceous basement, which it says defines a favourable magmatic and structural setting for porphyry and epithermal mineralisation.
The project lies within a regionally significant Trans-Lithospheric Fault architecture described by Rivera y Yañez (2019), which links major mineralised districts including Los Pelambres and Punitaqui. That regional framing is not a statement that La Lorena hosts a comparable deposit, and drilling is what begins to test the project’s own merits.
Where is the La Lorena Project and what infrastructure is nearby?
- Located close to Combarbalá in the Coquimbo Region, approximately 380km north of Santiago
- Elevations of approximately 1,600m to 2,500m above sea level
- Serviced by regional access roads and close to the electricity grid
- Approximately 20km from the nearest sealed airstrip
- Nearby ports: Coquimbo (approximately 200km by road) and Los Vilos (approximately 170km by road)
The company describes the Coquimbo Region as an established mining district with access to experienced personnel, services and suppliers. That matters because access to infrastructure and services can influence how practical it is to advance a project if results justify it.
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What are the next steps and upcoming catalysts?
The announcement lists three next steps:
- Complete the initial +2,000m La Lorena drilling program, commencing at La Martuca prospect
- Complete integrated assessment of the Esperanza prospect datasets, including initial drillhole design, and progressively refine and rank additional targets across the project
- Integrate assay data with geological data from La Martuca to design additional drilling where warranted
Kiddie also said the company continues to gather datasets and drill test multiple highly-ranked targets across La Lorena, Los Warbos and the Llahuin JV, with a “clear aim of a company-making discovery.” That is an aim, not an outcome.
| Milestone | Timing | Status |
|---|---|---|
| Drilling start at La Martuca | Announced 5 October 2026 | Commenced |
| Initial program duration | 10 to 12 weeks | Planned |
| Assays | 6 to 8 weeks post completion of first drillhole | Expected |
| Follow-up drilling | Not specified | Where warranted |
With drilling under way and no assays yet reported, the next several weeks will show whether the geophysical and surface signals hold up at depth.
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