FireFly Metals Expands High-Grade Copper Zones at Green Bay Project, Tapping into Growing ASX200 Resource Interest

May 08, 2025 05:44 PM PDT | By Team Kalkine Media

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FireFly Metals Expands High-Grade Copper Zones at Green Bay Project, Tapping into Growing ASX200 Resource Interest — Image source: shutterstock

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Highlights

FireFly Metals extends copper-gold mineralisation by over 200 metres

Multiple high-grade intercepts strengthen Green Bay project potential

Seventh drill rig to accelerate ongoing exploration and resource growth

FireFly Metals (ASX:FFM) has announced promising progress at its Green Bay Copper-Gold Project in Newfoundland, Canada, with recent drill results revealing high-grade copper mineralisation that extends over 200 metres beyond its current resource model. This development could bolster the company’s presence among emerging resource leaders on the ASX200 index.

The Green Bay Project currently boasts a Measured and Indicated Mineral Resource of 24.4 million tonnes at 1.9% copper equivalent (CuEq), alongside an Inferred Resource of 34.5 million tonnes at 2.0% CuEq. These figures underline the project's scale and long-term potential as a strategic copper-gold hub in North America.

Ongoing exploration efforts are being carried out through a significant 70,000-metre drilling campaign — half of which is focused on expanding the existing resource footprint, while the other half aims to upgrade the current Inferred resources to a higher confidence level. Notably, FireFly has reported high-grade intercepts such as 25.8 metres at 5.1% CuEq and 12.4 metres at 6.8% CuEq.

Drilling has been targeting both the Volcanogenic Massive Sulphide (VMS) and Footwall Zone (FWZ) styles of mineralisation, showing strong continuity at depth and along strike. Five drill rigs are currently active underground, with a sixth added recently and a seventh scheduled to arrive in late May. These efforts underline the project’s scale and potential for further growth.

Adding to the upside, FireFly is now testing a newly identified Down Hole Electromagnetic (DHEM) anomaly situated over 700 metres beyond current drilling limits. This anomaly opens up new exploration frontiers and could potentially lead to new discoveries beyond the existing resource areas.

With copper continuing to play a central role in the global energy transition, projects like Green Bay could find increasing relevance within the portfolios of investors interested in long-term exposure to energy and industrial metals. This comes at a time when many investors are also exploring options in sectors like ASX dividend stocks for consistent income generation.

As the broader ASX200 index continues to track high-performing resource and energy companies, FireFly’s aggressive expansion at Green Bay could mark it as one to watch in the resource development space.

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