Southern Hemisphere, FMR geophysics light up big Chilean copper target

FMR Resources, through its joint venture with Southern Hemisphere Mining, has completed detailed downhole geophysics on the first deep hole into the Southern Porphyry target at the duo’s Llahuin copper-gold-molybdenum project in Chile.

The surveys, which included downhole induced polarisation (IP), electromagnetics and spectral gamma radiation, reveal that the large conductive body - originally detected by surface magneto-telluric (MT) surveying - is significantly bigger than first thought and remains completely untested below and next to the hole.

A strong off-hole chargeability anomaly was also detected, pointing to a sizeable sulphide system nearby.

Microscopic imaging on core from about 1260m depth confirmed the hole grazed the hot inner alteration halo of a porphyry system, showing up as intense quartz-K-feldspar-chlorite-anhydrite flooding, abundant pyrite and magnetite, combined with traces of chalcopyrite.

The alteration is a clear sign the drill string passed close to, but did not quite hit the mineralised core.

Completion of the downhole geophysical program at Target A has strengthened our understanding of this porphyry system with off-hole targets identified as well as a refined position and size of the MT anomaly. Mobilising to Target C allows us to test the MT source where it comes closer to the surface and to target an extensive IP-resistivity window between 250m–550m.

The rig has now moved 545m west-southwest to the company’s Target C, where the same deep MT conductor is much closer to the surface.

The new hole, which is currently underway, is designed to first test shallower IP-resistivity anomalies from between about 250 and 550m depth.

It will then punch into the heart of the MT conductor between about 800 and 1400m, while carefully steering clear of barren magnetite-pyrite zones that could potentially mask the real prize.

With the main porphyry engine now shown to be bigger, deeper and still completely open, Target C gives FMR a genuine shot at intersecting the high-grade copper-gold-copper-moly core the geophysics has been screaming about.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au