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Highlights
- FireFly Metals (FFM) reports thick, high-grade intersections at the Ming Mine.
- Drill results include 86.3 metres at 3.7% copper equivalent, boosting growth potential.
- Focus remains on resource expansion and discovery with four active rigs underground.
FireFly Metals (ASX:FFM) has announced exceptional drilling results from its Ming Mine within the Green Bay Project, Newfoundland, Canada. The latest findings include an impressive 86.3 metres at 3.7% copper equivalent (CuEq), highlighting significant mineralisation. These results strengthen the 59-million-tonne resource base with an average grade of 2% CuEq and will contribute to an updated mineral resource estimate.
The recent drilling campaign targeted deep areas of the deposit, uncovering world-class grades and substantial true widths. This includes VMS (volcanogenic massive sulphide) zones and a broad copper-gold footwall stringer zone (FWZ). Notable intersections include:
- 86.3 metres at 3.7% CuEq, with two VMS lodes at 15.5 metres grading 4.6% CuEq and 9.9 metres at 5.8% CuEq, along with 27.6 metres at 5.3% CuEq in the FWZ.
- 76.3 metres at 2.9% CuEq, comprising a VMS lode of 20.1 metres at 6.1% CuEq and additional FWZ intervals including 24 metres at 2.6% CuEq.
These intersections demonstrate the high-grade copper-gold potential of the Ming deposit, emphasizing its growth trajectory.
Mineralisation Characteristics and Expansion Plans
The Ming Mine exhibits two primary mineralisation styles: high-grade VMS lenses and the extensive FWZ. The FWZ spans over 150 metres in thickness, with a strike length of 2.1 kilometres, remaining open down-plunge. Advanced drilling techniques have identified deeper FWZ extensions and additional high-grade zones, paving the way for continued growth.
FireFly Metals is advancing its strategy to upscale operations at the Green Bay Project. Four underground drill rigs are operational, focusing on resource expansion, infill drilling, and discovery. The 2024–2025 drilling program will include:
- Resource extension to probe deeper VMS and FWZ zones.
- Infill drilling to convert inferred resources into indicated resources for future studies.
- Discovery drilling for new VMS lodes and potential feeder zones within proximity to the existing infrastructure.
Future Objectives and Strategic Outlook
FireFly Metals plans to extend the exploration drill drive at Ming Mine to accommodate deep plunge testing and discovery drilling in 2025. Supported by a strong cash position of $88 million as of October 2024, the company remains focused on resource expansion and operational growth. The remaining drill program will target strategic areas to enhance the scale and grade of the deposit while unlocking new discoveries.
