Green Bay Drilling Yields 43m at 7.6% CuEq and 15m at 16% CuEq in New Core Discovery

A Breakthrough at Green Bay

FireFly Metals Ltd has announced a significant exploration milestone at its Green Bay Copper-Gold Project in Newfoundland, Canada. The company’s latest drilling campaign has uncovered an extensive, high-grade mineralised core stretching at least 800 metres along strike. This core features copper and gold grades that markedly exceed previous resource estimates, promising to reshape the project’s valuation and development trajectory.

The standout results include a 43.6-metre intersection grading 7.6% copper equivalent, highlighted by an exceptional 14.9-metre zone at 16% copper equivalent. These grades are impressive not only for their magnitude but also for the substantial widths over which they occur, underscoring the potential for a robust and economically viable deposit.

Geological Context and Resource Implications

The mineralised core appears to form where two distinct styles of mineralisation converge – the Volcanogenic Massive Sulphide (VMS) lenses and the Footwall Zone (FWZ) stringer mineralisation. This convergence has yielded thick, continuous zones of copper and gold mineralisation, which remain open for further expansion both along strike and at depth.

Currently, the Green Bay project hosts a Mineral Resource Estimate of 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. The new drilling results are expected to materially increase the higher-confidence Measured and Indicated resources, which are critical for underpinning upcoming economic studies and feasibility assessments.

Ongoing Drilling and Development Plans

FireFly is operating eight diamond drill rigs; six underground and two surface; to accelerate resource upgrading, extension, and regional exploration. The company is systematically testing geophysical anomalies and expanding its understanding of the deposit’s geometry and grade continuity. Notably, a strong conductive anomaly detected by downhole electromagnetics extends beyond the furthest drill intercept, suggesting further mineralisation awaits discovery.

Alongside exploration, FireFly is advancing preliminary economic evaluations targeting completion in the first quarter of 2026. These studies will incorporate the updated Mineral Resource Estimate due this quarter, which is anticipated to reflect the impact of the high-grade core discovery. The company has also commenced early works and permitting activities following a conditional environmental assessment clearance, positioning Green Bay for a potential upscaled mining operation.

Strategic Position and Funding

FireFly Metals is well capitalised after completing a substantial equity raising earlier this year, providing the financial flexibility to pursue aggressive exploration and development programs. The Green Bay project’s location in a mining-friendly jurisdiction, combined with historical metallurgical data indicating high copper recoveries and significant gold byproduct credits, enhances the project’s economic appeal.

Beyond Green Bay, FireFly holds interests in other promising assets, including the Pickle Crow Gold Project in Ontario and the Limestone Well Vanadium-Titanium Project in Western Australia, underscoring its diversified portfolio in base and precious metals.

Looking Ahead

With the discovery of this high-grade core, FireFly Metals is poised to redefine the scale and quality of its flagship Green Bay project. The forthcoming Mineral Resource update and economic studies will be pivotal in charting the path toward potential production resumption and value creation for shareholders. Meanwhile, ongoing drilling and regional exploration continue to hold promise for further discoveries.