FMR Resources acquires Chilean copper project for US$150,000

• FMR Resources has secured a conditional option to acquire 100% of the Los Warbos Copper-Gold Project in Chile.
• Following the announcement, FMR Resources shares rose 2.7% to $0.38.
• The acquisition aligns with the company's strategy to expand its portfolio across central Chile's mineral belts.

FMR Resources (ASX:FMR) executed an agreement to acquire 100% of the Los Warbos Copper-Gold Project in Chile for US$150,000 upfront.

The deal expands the explorer's footprint beyond its nearby La Lorena asset following due diligence and rock chip sampling.

"The team is excited to commence systematic exploration and rapidly progress the project towards drilling," said FMR Resources Managing Director Oliver Kiddie.

The company stated that full acquisition requires a further US$150,000 cash payment and 200,000 ordinary shares upon option exercise.

Following the announcement, the FMR Resources share price was up at $0.38.

The transaction aligns with the company's broader strategy to build a regional portfolio of copper-gold assets in central Chile.

FMR Resources previously identified multiple sulphide targets at its nearby La Martuca prospect following recent geophysical surveys.