Firefly Metals expands Green Bay resource footprint with high-grade copper-gold hits
An aggressive exploration campaign by Firefly Metals (ASX: FFM) at its Green Bay copper-gold project in Canada has intersected extensive mineralisation more than 200 metres outside the current mineral resource.
Step-out drilling from the 805 Exploration drive showed that mineralisation in the upper massive sulphide zone (VMS) and footwall zone (FWZ) of the Ming underground mine continues beyond the extent of the project’s current measured and indicated resource of 24.4 million tonnes at 1.9% copper equivalent (CuEq) and its inferred resource of 34.5Mt at 2.0% CuEq.
The company believes the new discovery suggests the potential for significant future mineral resource growth.
High-grade hits
Step-out drilling confirmed the continuity and thickness of the high-grade VMS zone, with best results from two holes being 12.4m at 6.8% CuEq (3.6% copper and 3.5 grams per tonne gold) and 25.8m at 5.1% CuEq (4.6% copper and 0.5g/t gold).
Extensional drilling at the FWZ intersected multiple zones of high-grade copper, with highlights of 19.5m at 3.0% CuEq (2.7% copper and 0.3g/t gold) and 14.5m at 1.9% CuEq (1.8% copper and 0.1g/t gold).
A downhole electromagnetic (DHEM) survey completed from the deepest step-out hole at the VMS zone identified a conductive anomaly extending more than 700m beyond current drill boundaries.
Firefly sees this as highly significant, with similar DHEM anomalies drill-tested at Ming directly associated with copper-gold mineralisation.
Strong results
Firefly managing director Steve Parsons said exploration had continued to deliver strong results.
“We are creating value on several fronts from resource growth and upgrades through to exploration drilling and initial mining studies,” he said.
“The combination of this work shows what an outstanding project this is and how well placed we are to capitalise on the demand for copper-gold projects in tier-one locations.”
Additional rig
Five drill rigs are currently operating underground at Green Bay, with two focused on extension drilling and exploration and three on resource conversion drilling.
The company plans to add another underground rig to the campaign to pursue multiple new opportunities, with a surface rig continuing to focus on high priority exploration targets near the Ming Mine.
“There are very few projects which could justify such an aggressive drilling campaign, but we have more than enough avenues of growth to warrant this [rig],” Mr Parsons said.