FireFly Metals hits 10.7 metres at 12.2% copper equivalent at Green Bay Copper-Gold Project
Last updated: 22:45 11 Feb 2025 EST, First published: 22:42 11 Feb 2025 EST
FireFly Metals Ltd has continued to generate high-grade copper results in its six-rig drilling blitz at the Green Bay Copper-Gold Project in Canada, hitting intersections of more than 12% copper equivalent.
The company says the high-grade results support its strategy of extending mineralisation, upgrading the category of the project’s mineral resource and making new discoveries with the goal of developing a global-scale project in a tier-one mining district.
Driving rapid resource development
“FireFly’s decision to employ six rigs at Green Bay reflects our strong belief in the immense value which stands to be created by growing and upgrading the resource,” managing director Steve Parsons said.
“This six-rig blitz will enable us to target extensions of the known mineralisation, create significant value by upgrading it to measured and indicated and test new targets, all at the same time.
“This aggressive drilling campaign is aimed at establishing Green Bay as a global scale project in a tier-one location, a standing which we believe will drive substantial growth for shareholders.”
Results from the 805 exploration drive continue to deliver high-grade intersections from the copper-gold volcanogenic massive sulphide-style (VMS) mineralisation, including:
- 10.7 metres at 12.2% copper equivalent (CuEq) (9.0% copper and 3.9 g/t gold) from 202.5 metres;
- 17.3 metres at 7.4% CuEq (7.0% copper and 0.4 g/t gold) from 243.3 metres;
- 12.5 metres at 4.2% CuEq (1.8% copper and 2.6 g/t gold) from 201.6 metres;
- 2.3 metres at 12.4% CuEq (8.2% copper and 4.9 g/t gold) from 189.7 metres.
The northern margins of the current resource boundary also produced consistently broad intersections of mineralisation, confirming the presence of a broad copper footwall stringer zone below the VMS-style mineralisation.
Results included 58.2 metres at 3.1% CuEq (2.4% copper and 0.7 g/t gold) from 240.7 metres, including 9.2 metres at 5.0% CuEq and 5.2 metres at 3.3% CuEq, plus a distinct VMS lode that graded 5 metres at 6.7% CuEq.
This result is directly along strike from previous high-grade results of note, which graded up to 86.3 metres at 3.7% CuEq and 76.3 metres at 2.9% CuEq.
Key geological insights
FireFly says these results confirm conclusively that the downhole electromagnetic (EM) anomaly previously reported at Green Bay is associated with copper and gold mineralisation.
The company has begun infill drilling to convert its current 34.5 million tonnes at 2% copper equivalent inferred resource to the higher category indicated and measured level, the resource for which currently sits at 24.4 million tonnes at 1.9% copper equivalent.
FFM has mobilised a fifth underground drill rig to the site to fast-track drilling, with downhole geophysics efforts ongoing.
Surface exploration is also continuing at pace with the sixth rig, testing high-priority near-mine targets with first results expected in the March quarter.
FireFly is well funded to advance the Green Bay Project, with $84.1 million in cash, receivable and liquid investments as of the end of last year.
