FMR Resources has signed a conditional binding Option Agreement to acquire 100% of the Los Warbos Project, a district-scale copper-gold asset in central Chile’s Coquimbo region with substantial granted and exploration concessions. Early rock chip sampling shows high-grade mineralisation, including up to 10.77% copper, 4.01 g/t gold, and over 100 g/t silver, indicating widespread mineralisation and significant exploration upside given limited modern work to date. The project sits along major crustal structures, including the Tulahuen Fault and a Trans-Lithospheric Fault, offering access to multiple fertile structural corridors for potential discoveries. The deal contemplates staged consideration, with an upfront US$150,000 cash payment and future payments of US$150,000 plus 200,000 shares on option exercise, plus potential deferred performance shares if a JORC-compliant resource is announced within five years. Some reporting also notes a related Argentina-based Los Warbos concessions and a separate share-based consideration element, underscoring a broader South American expansion strategy through equity rather than cash. FMR’s managing director Oliver Kiddie highlighted the scale and potential of the mineral system and the strategy of building a diversified Chilean copper-gold portfolio.