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FireFly Metals hits up to 19.4% copper equivalent at Green Bay Copper-Gold Project, Canada

Published 16/01/2024, 09:47 am
Updated 16/01/2024, 10:00 am
© Reuters.  FireFly Metals hits up to 19.4% copper equivalent at Green Bay Copper-Gold Project, Canada

FireFly Metals Ltd (ASX:FFM) is gearing up for a resource update at the Green Bay Copper-Gold Project in Canada after striking broad intersections of high-grade copper in drilling around the project’s main resource target.

Notable intersections included a very wide result of 46.4 metres at 5.6% copper equivalent (4.6% copper, 1.2 g/t gold, 7.5 g/t silver) from 227.3 metres of depth as well as a smaller, very high-grade result of 2.7 metres at 19.4% copper equivalent (13.5% copper, 7.0 g/t gold, 33.0 g/t silver) from 280.8 metres.

Importantly, this latest round of drilling also extended the known volcanogenic massive sulphide (VMS) mineralisation at the Green Bay resource by a further 350 metres down plunge.

“Huge growth potential”

“These assays strongly support our view that Green Bay is an exceptional asset with huge growth potential,” FireFly Metals managing director Steve Parsons said.

“To extend the known mineralisation by 350 metres with such wide, high-grade intersections in our first drilling program speaks volumes about the project’s exceptional quality and immense upside.

“And we are set to accelerate our resource growth strategy with the start of underground drilling and a second diamond rig has arrived on site.”

Apart from drilling at the main resource, FFM also encountered mineralisation at the Ming South prospect, a precious metal-fertile VMS zone which returned an intersection of 14.7 metres at 2.6% copper, 5.5 g/t gold and 24.2 g/t silver.

More drilling to come

Firefly is expecting more results-based news flow from its activities to increase over the coming weeks, as the company receives the first assays from drilling in the Lower Footwall zone and drilling from the underground platform begins later this month.

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Finally, the second drill rig – which has just arrived on-site – will immediately begin resource extension drilling, feeding more data into a potential resource update.

The full assays from this latest round of drilling include:

  • 46.4 metres at 4.6% copper, 1.2 g/t gold, 7.5 g/t silver (5.6% copper equivalent) from 227.3 metres;
  • 17.8 metres at 4.4% copper, 2.2 g/t gold, 18.8 g/t silver (6.6% copper equivalent) from 137.6 metres;
  • 14.7 metres at 2.6% copper, 5.5 g/t gold, 24.2 g/t silver, 1.2% zinc (7.5% copper equivalent) from 31.8 metres;
  • 11.2 metres at 4.9% copper, 2.3 g/t gold, 9.7 g/t silver (6.9% copper equivalent) from 171.4 metres; and
  • 2.7 metres at 13.5% copper, 7.0 g/t gold, 33.0 g/t silver (19.4% copper equivalent) from 280.8 metres.

Read more on Proactive Investors AU


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