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Firefly Metals Returns High-Grade Copper-Gold Assays from Ongoing Drilling at Green Bay

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By Imelda Cotton - 
Firefly Metals ASX FFM High-Grade Copper-Gold Assays Drilling Green Bay
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FireFly Metals (ASX: FFM) has reported new high-grade assays from in-fill drilling at its Green Bay copper-gold project in Canada.

The company conducted the campaign with a view to extending the project’s mineralisation, upgrading the mineral resource from inferred to measured and indicated and making new discoveries.

The company has six diamond rigs stationed at the Ming underground mine to explore the volcanogenic massive sulphide (VMS) lenses and two additional rigs at the surface to test anomalies generated from airborne geophysical surveys.

Continuous Mineralisation

FireFly believes the new results confirm strong continuous mineralisation within the current Green Bay mineral resource estimate of 24.4 million tonnes at 1.9% for 460,000 tonnes measured and indicated copper equivalent and 34.5 million tonnes at 2% for 690,000 tonnes inferred.

Best assays from drilling of the VMS lenses included 11.6 metres at 9.3% CuEq (6.0% copper and 3.9g/t gold); 5.5m at 7.1% CuEq (5.4% copper and 2g/t gold) and 14.6m at 6.7% CuEq (5.4% copper and 1.5g/t gold).

Ming’s broad Footwall Stringer Zone also demonstrated thick and consistent copper mineralisation, pointing to the potential for large-scale bulk mining.

Key highlights included 9.5m at 6.4% CuEq (6.1% copper and 0.4g/t gold) followed by a further zone of 24.9m at 2.4% CuEq (2.2% copper and 0.1g/t gold), 26.2m at 5.3% CuEq (4.9% copper and 0.4g/t gold) and 24.1m at 3.7% CuEq (3.5% copper and 0.3g/t gold).

Engineering Studies

Firefly managing director Steve Parsons anticipates strong growth in the measured and indicated portion of the resource, which will underpin engineering studies into the resumption of upscaled production from Ming.

“Part of our plan is to keep growing the resource at Green Bay and upgrading more of it to the indicated category and then feeding this information into mining and feasibility studies,” he said.

“Our multi-pronged strategy is aimed at unlocking the value of what is clearly an exceptional copper-gold asset in a highly desirable location at a time when such projects are in hot demand.”

Firefly acquired the Green Bay project in late 2023 and has completed 99,700m of underground diamond drilling to date.