Resource Upgrade Looms as FireFly Hits Exceptional Copper-Gold Grades at Green Bay
FireFly Metals reports exceptional high-grade copper and gold drill results from its Green Bay Project in Canada, setting the stage for a significant Mineral Resource Estimate update this quarter.
- Exceptional high-grade copper-gold drill intersections at Green Bay
- Ongoing eight-rig underground drilling campaign targeting resource upgrade and expansion
- Upcoming Mineral Resource Estimate update expected to increase Measured and Indicated categories
- Strong financial position with ~A$145 million supporting accelerated exploration and feasibility studies
- Regional exploration and geophysical surveys underway with step-out drilling results imminent
Strong Drilling Results Reinforce Green Bay's Potential
FireFly Metals Ltd has announced a series of outstanding drill results from its Green Bay Copper-Gold Project in Newfoundland, Canada. The latest infill drilling has delivered consistently high-grade intersections, including massive sulphide zones grading up to 19.5% copper equivalent over 4.4 metres and broad copper-rich zones suitable for bulk mining. These results underscore the continuity and scale of mineralisation at the Ming Mine, a key asset within the project.
Accelerated Drilling Campaign and Resource Upgrade
The company is currently operating eight diamond drill rigs; six underground and two on surface; focused on upgrading the existing Mineral Resource and extending known mineralisation. The current Mineral Resource Estimate (MRE) stands at 24.4 million tonnes at 1.9% copper equivalent in the Measured and Indicated categories, with an additional 34.5 million tonnes at 2.0% copper equivalent classified as Inferred. FireFly anticipates a significant increase in the higher-confidence Measured and Indicated resources in the upcoming MRE update planned for release later this quarter.
Strategic Importance of Resource Upgrade
Upgrading resources to the Measured and Indicated categories is critical as these underpin economic studies and feasibility assessments. FireFly plans to complete preliminary economic studies in the first quarter of 2026, leveraging the enhanced resource base. The company’s Managing Director, Steve Parsons, highlighted that the aggressive drilling strategy is yielding substantial dividends, positioning Green Bay as a tier-one copper-gold asset.
Robust Financial Position Fuels Growth
FireFly’s strong balance sheet, bolstered by recent equity raises totaling approximately A$98 million and a Share Purchase Plan, leaves it with around A$145 million in cash and liquid investments. These funds are earmarked to accelerate exploration activities, support feasibility studies, and advance early works and construction permits following recent environmental assessment clearances by the Province of Newfoundland and Labrador.
Expanding Regional Exploration and Discovery Potential
Beyond the Ming Mine, FireFly is actively pursuing regional exploration across its extensive land holdings, including the Tilt Cove Project. The company is deploying geophysical surveys such as VTEM and helimagnetic surveys to identify new targets, with two surface rigs already testing high-priority anomalies. Step-out drilling results from extensions at Ming are expected in the coming weeks, potentially adding further value to the project.
Bottom Line?
With a robust drilling campaign and strong financial backing, FireFly Metals is poised to redefine the scale and confidence of its Green Bay resource, setting the stage for future development milestones.
Questions in the middle?
- How much will the Measured and Indicated Mineral Resource increase in the upcoming update?
- What are the timelines and key milestones for the preliminary economic studies and feasibility assessments?
- How will regional exploration results impact the overall project valuation and growth prospects?
