Could FireFly’s Rambler Main Drilling Uncover a New Ming Mine?

• Maiden drilling at Rambler Main reveals high-grade copper-gold-zinc intersections
• Mineralisation extended over 200m beyond historical mining limits and remains open
• Rambler Main shares geological and mineralisation traits with flagship Ming Mine
• Further drilling underway to expand Mineral Resource and test new targets
• Company well funded with A$68.5 million to support accelerated growth strategy

A Promising Start at Rambler Main

FireFly Metals Ltd has announced compelling results from its first drilling campaign at the historical Rambler Main Mine, part of the Green Bay Copper-Gold Project in Newfoundland, Canada. The initial two drill holes have intersected thick zones of high-grade polymetallic mineralisation, including gold, copper, zinc, and silver, extending the known mineralised system more than 200 metres beyond the limits of previous mining activities from the 1960s.

The standout intersections include 10 metres grading 6.4% copper equivalent (CuEq), featuring 5.7 grams per tonne (g/t) gold, 1.3% copper, 1.7% zinc, and 20.9 g/t silver, and a second hole with 12.9 metres at 4.3% CuEq. These results are significant not only for their grades but also because the mineralisation remains open down plunge, suggesting substantial potential for resource growth.

Geological Kinship with the Ming Mine

Rambler Main’s mineralisation is part of the same camp-scale Volcanogenic Massive Sulphide (VMS) system that hosts the nearby Ming Mine, located less than two kilometres away. Both deposits occur along the rhyolite-basalt geological contact and share a similar down-plunge geometry. However, Rambler Main is notably gold-dominant, which may reflect subtle variations in the hydrothermal system that formed these deposits.

This geological kinship is encouraging because the Ming Mine is a large-scale, high-grade deposit with a current Mineral Resource estimate of 24.4 million tonnes at 1.9% CuEq in the Measured and Indicated categories, and 34.5 million tonnes at 2.0% CuEq inferred. FireFly’s discovery at Rambler Main could represent a valuable new source of Mineral Resource growth within the Green Bay camp.

Accelerating Exploration and Resource Growth

Building on these promising results, FireFly has resumed drilling at Rambler Main to test deeper extensions of the mineralisation and is awaiting assay results from a similar surface drilling program at the nearby East Mine. The company is operating six drill rigs across the Green Bay Project, including five underground and one surface rig, with plans to add a seventh shortly.

FireFly’s exploration strategy is comprehensive, targeting Mineral Resource extensions, infill drilling to upgrade resource confidence, and discovery drilling to identify new zones of mineralisation. The company’s extensive 311 square kilometre landholding hosts multiple historical mines and numerous drill-ready targets, positioning it well to unlock the camp-scale potential of Green Bay.

Financial Strength Supports Growth Ambitions

FireFly remains well capitalised with approximately A$68.5 million in cash, receivables, and liquid investments as of March 31, 2025. This financial strength underpins its accelerated growth strategy, which includes ongoing drilling, resource updates, and economic studies aimed at evaluating an upscaled restart of mining operations at Green Bay. The proximity of Rambler Main to existing infrastructure at Ming enhances the economic appeal of potential resource additions.

Managing Director Steve Parsons highlighted the significance of the results, stating that the initial drilling “shows we could have another Ming Mine on our hands,” emphasizing the potential for substantial Mineral Resource growth and the broader camp-scale opportunity.

Bottom Line?

FireFly’s early success at Rambler Main sets the stage for a potentially transformative expansion of the Green Bay Project, with further drilling and resource updates poised to shape its next growth chapter.

Questions in the middle?

• How will upcoming assay results from East Mine influence FireFly’s resource growth plans?
• What are the timelines and expected outcomes for the economic studies on an upscaled Green Bay operation?
• Could the geological differences between Rambler Main and Ming affect mining and processing strategies?