FireFly (ASX:FFM) packs more Canadian copper-gold into Green Bay
March 21, 2024FireFly Metals has continued to return very high grades over substantial widths from the large-scale, copper-rich Footwall Zone of its Green Bay project in the Newfoundland province of Canada.
One hole returned true width strikes of 9 metres at 4 per cent copper equivalent and 63.1m at 2.2% CuEq, with the latter including a zone of 12.4m at 3.1% CuEq.
Two others returned similarly alluring intercepts and come after a first wave of results which likewise gave a high-grade taste of the footwall and offered heady potential to grow the current 39.2 million tonne resource of 2.1% CuEq.
And that zone is one of two distinct styles of mineralisation at Green Bay, with the first massive sulphide-style intercepts to the tune of 46m at 4.6% copper also paving the way for a resource update within the recently expanded territory.
FireFly Metals Managing Director Steve Parsons said the company had continued to grow the known extent of mineralisation with wide intersections and strong grades.
“This all demonstrates the growing size of the system and points to a substantial resource update in the September quarter. It also highlights the immense potential to increase the scale of mining at Green Bay,” he said.
Drilling from new underground exploration platforms continues with a pair of rigs and more assays are due from the remaining 13 of 28 total holes in the coming weeks.
FireFly had more than $17 million cash in hand at the end of last year and remains fully funded for its phase 1 growth strategy for its Canadian copper.
The Perth-based explorer and developer came to Green Bay to rapidly grow the resource and demonstrate a globally significant copper-gold asset with 40,000m of diamond drilling, and now has an updated resource on track for unveiling in the September quarter of 2024.
Latest results
- Hole MUG24-004 (true widths): 9m at 4.0% CuEq and 63.1m at 2.2% CuEq including a zone of 12.4m at 3.1% CuEq
- Hole MUG24-009 (true widths): 51m at 2.2% CuEq including zones of 5.3m at 3.3% CuEq and 4.9m at 3.2% CuEq
- Hole MUG24-003 (true widths): 9.8m at 3.7% CuEq and 17.8m at 1.8% CuEq
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