Firefly Step out drilling continues to find high grade copprNow adding two more drilling rigs..
High-grade assays establish continuous mineralisation for 460m outside Resource
Assays up to 10% copper and 4g/t gold further strengthen outlook for substantial resource growth; Two more rigs on way to site as wider exploration strategy ramps up
KEY POINTS
• Another batch of high-grade copper and gold assays support FireFly’s strategy for rapid and substantial Resource growth at Green Bay
• The latest results reveal consistently high-grade mineralisation extends continuously for 460m outside the current Resource boundary
• These results will form part of the next upgrade in the Resource, which currently stands at 39.2Mt at 2.1% for 811,000t CuEq1
• Green Bay hosts two distinct styles of copper mineralisation: One contains high-grade copper-gold massive sulphide zones (‘VMS') and the other is a large-scale, copper-rich Footwall Zone (‘FWZ’)
• Latest results from the upper high-grade massive sulphide VMS zone include (~true thickness):
o 13.1m @ 14.3% CuEq (10.7% Cu & 4.1g/t Au) within 26.0m @ 8.2% CuEq MUG24-030 o 18.0m @ 4.9% CuEq (3.4% Cu & 1.7g/t Au) MUG24-025
o 13.5m @ 7.6% CuEq (5.3% Cu & 2.6g/t Au) MUG24-029
o 5.4m @ 12.2% CuEq (8.6% Cu & 4.0g/t Au) MUG24-023
o 6.9m @ 5.4% CuEq (4.8% Cu & 0.6g/t Au) within 20.3m @ 3.3% CuEq MUG24-030
o 20.8m @ 4.3% CuEq (4.0% Cu & 0.3g/t Au) MUG24-029
• Multiple zones from the large-scale copper-rich footwall zone were intersected in each hole
and include (~true thickness):
o 55.0m @ 1.8% CuEq including 12.1m @ 2.3% CuEq and 8.9m @ 3.0% CuEq (MUG24-024) o 47.1m @ 1.5% CuEq including 7.4m @ 2.2% CuEq and 16.3m @ 1.8% CuEq (MUG24-019) o 31.5m @ 1.6% CuEq including 21.9m @ 1.7% CuEq and 3.1m @ 3.7% CuEq (MUG24-026)
1 The Company first announced the foreign estimate for the Green Bay Project on 31 August 2023. The foreign estimate is prepared in accordance with Canadian National Instrument 43-101 and has not been reported in accordance with JORC 2012. A competent person has not done sufficient work to classify the foreign estimates in accordance with the JORC Code and it is uncertain that following evaluation and or further exploration that a foreign estimate will be able to be reported in accordance with the JORC Code. Further information on the foreign estimate is set out in Appendix A.
FireFly Metals Ltd
+61 8 9220 9030 info@fireflymetals.com.au www.fireflymetals.com.au
ACN 110 336 733
Principal & Registered Office:
Level 2/8 Richardson Street West Perth WA 6005
• These latest results are highly significant because they demonstrate continuous VMS and FWZ mineralisation between the current resource and the 460m step-out exploration hole of 6.3m @ 5.9% CuEq in the VMS zone and 102m @ 1.7% Cu in the FWZ (see ASX 16/01/24)
• Two more rigs are on the way to site, taking the total to four; This will underpin FireFly’s goal of accelerating resource growth in parallel with in-mine discovery exploration
• Geophysical surveys to identify new discovery targets will commence in coming weeks with underground downhole Electromagnetics (DHEM) and regional Airborne VTEM
• FireFly remains fully-funded for its growth strategy following the successful A$52M equity raising in March 2024.
FireFly Managing Director Steve Parsons said: “We continue to generate exceptional step out drilling results which point to substantial growth in the high-grade copper and gold resource at Green Bay.
“Given the consistently strong drilling results we are achieving, we are doubling the number of rigs to four. This is aimed at accelerating our resource growth while also seeking to make new discoveries.
“Green Bay is a large district scale copper-gold mineralised system with huge potential outside the current resource and known mineralisation. We are aiming to unlock the value of this wider project area and therefore we are about to start regional geophysical surveys to define lookalike copper-gold targets for drill testing”.
FireFly Metals Ltd (ASX: FFM) is pleased to annou