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Highlights
- Firefly Metals extends mineralisation at Green Bay project by 650 metres.
- Strong copper and gold grades reported from recent drilling results.
- Resource update expected in October.
Firefly Metals Ltd (ASX:FFM) is advancing towards a resource update at its Green Bay copper-gold project in Newfoundland, Canada, backed by promising drilling results. The company’s recent drilling campaign has successfully extended mineralization by 650 metres, revealing thick zones of copper equivalent (CuEq) grades exceeding 10%. This achievement highlights the potential for further resource growth in the context of ASX mining stocks.
Recent Drilling Highlights Copper and Gold Potential
Recent drilling efforts at Green Bay have focused on expanding the upper high-grade massive sulphide copper and gold VMS zones and the Footwall Zone. These zones have yielded impressive intercepts, including:
- 17.8 metres at 4.2% CuEq (1.8% copper and 2.2g/t gold) in one hole.
- 22.2 metres at 5.1% CuEq (2.1% copper and 3.1g/t gold), with additional zones of 3.7 metres at 10.4% CuEq and 8.1 metres at 6.8% CuEq.
In the Footwall Zone, the results have been equally encouraging, with intercepts such as 56.8 metres at 2.7% CuEq, including a higher-grade section of 10.7 metres at 5.9% CuEq, and 61.8 metres at 1.8% CuEq, extending 200 metres beyond a historic drill hole.
These findings suggest that the mineralisation remains open for further exploration, indicating strong potential for resource expansion at the project.
Upcoming Resource Update and Continued Drilling
Firefly Metals is set to release a resource update later this month, with further drilling continuing to push the boundaries of the Green Bay project. The company is employing down-hole electromagnetics (DHEM) to identify new targets and ensure more accurate drilling. Four drill rigs are currently operating underground as part of the campaign.
With the positive results seen so far and more to come, Firefly Metals remains focused on unlocking the full potential of the Green Bay project. At the time of reporting, Firefly was trading at $1.05, reflecting a slight decrease of 0.245 since market opening.
Firefly Metals’ ongoing drilling campaign and upcoming resource update mark significant steps forward for the Green Bay copper-gold project, which continues to show promising signs of resource growth. The recent intercepts provide a strong foundation for further exploration and development in the region.
