⚒️ Southern Hemisphere Mining Limited reports visual mineralisation associated with MT anomaly at Target C during drilling at the Southern Porphyry Target within the Llahuin Copper-Gold Project in Chile.

Joint-venture partner FMR Resources Limited advises that diamond drillhole 25LHDD071, the second drillhole of the Phase I program at Southern Porphyry, has been completed at Target C. The Southern Porphyry Target is within the Llahuin Project Joint Venture with Southern Hemisphere Mining Limited, with Target C located approximately 545m west-south-west of Target A and was designed to test a portion of the MT anomaly interpreted to be shallower to the surface, as well as associated IP chargeability and resistivity responses at intermediate depths.

HIGHLIGHTS

  • Diamond drillhole 25LHDD071 at Target C extended beyond planned depth due to visual* mineralisation to a completed depth of 1,490.65m

  • Visual chalcopyrite-bearing veinlets and disseminations and molybdenum-bearing veinlets intersected in a zone from 1,335.7m to 1,437.65m, associated with primary magnetotelluric (MT) anomaly

  • Geological observations indicate extensive phyllic alteration zone and veining throughout the hole, consistent with the outer alteration zone proximal to the porphyry core

  • Downhole geophysical logging (IP, EM conductivity, magnetics, spectral gamma) has been completed and is being integrated with existing geophysical models

  • Geological and structural data plus geophysical results from Targets A and C will collectively refine the interpreted position of the porphyry system to be tested with the next drillhole.

View the Full PDF of the ASX Announcement

FMR Managing Director, Mr Oliver Kiddie, commented:

“Completion of only our second drillhole at Southern Porphyry at Target C has yielded visual copper and molybdenite mineralisation associated with the MT anomaly, within an alteration assemblage suggesting we are closer to the core of this extensive porphyry system.

The FMR team is further encouraged by this latest drillhole, believing we are closing in on the main mineralised core of the system. This drillhole has added critical geological, structural, and geophysical information that refines our understanding of the Southern Porphyry system, and focuses targeting of the next drillhole in the program.”

Photo 1. Pyrite-Chalcopyrite sulphide veining with albite selvedge’s from 1,434m downhole in 25LHDD071* (refer to Appendix 1).

*Cautionary Statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates may also provide no information about impurities or deleterious physical properties relevant to valuations.

Drilling Update – Target C (25LHDD071)

Drillhole 25LHDD071 was extended from the planned 1,400m to end of hole at 1,490.65m (see Figures 1 and 2). Geological logging from the upper and mid-level of the hole identified extensive porphyry-style alteration and veining, consistent with proximity to a large magmatichydrothermal system.

At depth, the drillhole intersected multiple sulphide-bearing veinlets, including molybdenite associated with quartz–pyrite veining and chalcopyrite–pyrite mineralisation within structurally controlled zones. Local pXRF readings recorded elevated copper values within these veinlets. Below these intervals, the hole entered a pyrite-dominant, phyllic-altered domain, Sulphide assemblages and visual percentages are consistent with the interpretation the drillhole has entered a peripheral or halo zone of the core of a mineralised porphyry copper system (see Figure 3).

Photo 2. Pyrite-Chalcopyrite disseminated sulphide from 1,359m downhole in 25LHDD071* (refer to Appendix 1).

Photo 3. Pyrite-Chalcopyrite-Molybdenite sulphide veining from 1,351m downhole in 25LHDD071* (refer to Appendix 1).

Photo 4. Pyrite-Chalcopyrite sulphide quartz vein from 1,389m downhole in 25LHDD071* (refer to Appendix 1).

Photo 5. Pyrite-Chalcopyrite disseminated sulphide from 1,432m downhole in 25LHDD071* (refer to Appendix 1).

The intersected sulphide-bearing intervals included visible molybdenite associated with pyrite-chalcopyrite in quartz veinlets at 1,354m, and chalcopyrite–pyrite mineralisation within structurally controlled veinlets between approximately 1,388m and 1,437m.

These sulphide occurrences are interpreted to reflect proximity to porphyry-related mineralising fluids, proximal to the core of the system which has not yet been intersected.

Map Figure 1. Plan view of Southern Porphyry, showing surface projections of geophysical models, mapped epithermal veining at surface, and planned drill targets*. *Refer to FMR ASX announcements dated 9 July 2025, 26 August 2025, 23 October 2025, 10 November 2025, and 25 November 2025.

Figure 2. Cross section C-C’, Target C, showing geophysical models and completed drillhole to 1,490.65m downhole depth, testing mid-level shallow IP Resistivity and IP Chargeability features, and a large MT high amplitude feature at depth (+/- 10m window)*.
*Refer to FMR ASX announcements dated 9 July 2025, 26 August 2025, 23 October 2025, 10 November 2025, and 25 November 2025.

Figure 3. Hydrothermal alteration zones associated with porphyry copper deposit (modified after Lowell & Guilbert 1970) with interpreted locations of completed FMR drillholes 25LHDD070 and 25LHDD071.

Next Drillhole – Phase I Program

The third drillhole of the program will be based on integration of geological observations, petrography, geochemistry, geophysics, and vein orientation data from 25LHDD070 and 25LHDD071. Assay results for 25LHDD071 are expected to be received later this quarter.

The proposed drillhole will be finalised post intergrading of the geophysical probe results from Target A and Target C. Interpretation of alteration patterns in 25LHDD070 and 25LHDD071 and structural analysis will be critical as a vector towards the interpreted core of this porphyry system.

Whole-Rock Geochemistry and Petrography

Whole-rock geochemical analysis of anhydrite–pyrite samples continues. In parallel, thinsection petrography of key lithologies and alteration assemblages is ongoing to characterise mineral relationships, alteration zoning and paragenesis, contributing to the reconstruction of the porphyry system geometry.

Multi-element geochemical data are being analysed in conjunction with whole-rock geochemistry and petrographic observations to identify alteration patterns and elemental associations indicative of proximity to the porphyry core. Integration of these datasets will assist in refining geochemical vectors and prioritising subsequent drill targeting within the Southern Porphyry system.

Geological Setting

The Southern Porphyry target is located within a six-kilometre-long mineralised corridor with the Llahuin Project, which hosts multiple copper–gold–molybdenum porphyry centres (see Figure 4). Field mapping completed in June and July 2025 identified argillic alteration, silicification and epithermal quartz veining at the surface, along with zones of secondary copper mineralisation assemblages typical of the upper levels of a copper porphyry system.

*Re-logging of historic drillholes confirmed these features at depth, with intervals showing hydrothermal alteration, silicification, and disseminated chalcopyrite–pyrite mineralisation. These observations suggest a telescoped system, characterised by epithermal-style veining and alteration preserved above a deeper porphyry core*.

*Refer to FMR ASX announcement “Phase I Drilling Target Areas Refined at Southern Porphyry” dated 9 July 2025

Figure 4. Southern Porphyry target area within the Llahuin Project Joint Venture concessions*

Next Steps

  • Complete integration of downhole geophysical data from Targets A and C.
  • Finalise drillhole design for next target.
  • Commence the next drillhole of the Phase I program at Southern Porphyry.
  • Provide further updates regarding results, interpretations, and drilling progress.

The Full PDF is available below.

View the Full PDF of the ASX Announcement

Competent Persons Statement

The information in this announcement that relates to Exploration Results, Geophysical Results and Interpretations is based on information compiled by Mr Luke Marshall, who is a Member of the Australian Institute of Geoscientists. Mr Marshall is a Consultant to FMR Resources Limited. Mr Marshall has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Marshall consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.

Compliance Statement

The information in this announcement that relates to previously reported Exploration Results is extracted from announcements titled:

“Phase I Drilling Target Areas Refined at Southern Porphyry” dated 9 July 2025
“Geophysical Remodelling Confirms Compelling Drill Targets at Southern Porphyry” dated 13 August 2025
“Southern Porphyry Phase I Drill Targets Finalised” dated 26 August 2025
“Mineralised Indicators as drilling nears Main Porphyry Target” dated 23 October 2025
“Copper and Potassic Alteration Above Main Porphyry Target” dated 10 November 2025
“Extensive Porphyry Footprint at Southern Porphyry”, 25 November 2025
“Geophysics Completed and Drilling underway at Target C”, 3 December 2025

These announcements are available to view on the Company’s website at www.fmrresources.com.au or on the ASX website at www.asx.com.au
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement, and that all material assumptions and technical parameters underpinning the Exploration Results in the relevant market announcement continue to apply and have not materially changed.

Forward Looking Statements

Information included in this report constitutes forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “future”, “intend”, “may”, “opportunity”, “plan”, “potential”, “project”, “seek”, “will” and other similar words that involve risks and uncertainties. Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for products on inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources and reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation as well as other uncertainties and risks set out in the announcements made by the Company from time to time with the Australian Securities Exchange. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of the Company that could cause the Company’s actual results to differ materially from the results expressed or anticipated in these statements. The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this report will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this report, except where required by applicable law and stock exchange listing requirements.

News Release
Date: 3 February 2026 | ASX Code: SUH | Frankfurt Exchange: NK4

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Southern Hemisphere Mining Limited is an experienced minerals explorer in Chile, South America.

Chile is the world’s leading copper producing country and one of the most prospective regions of the world for major new copper discoveries. The Company’s projects include the flagship Llahuin Porphyry Copper-Gold-Moly Project and the Los Pumas Manganese EV Battery Project, both of which were discovered by the Company.

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