FireFly reports significant resource increase at Green Bay
Australia-listed FireFly Metals has announced a 42% increase in the mineral resource estimate at its Green Bay copper/gold project, now totaling 59-million tonnes at 2% copper equivalent, equating to 1.2-million tonnes of contained metal. Copper is the dominant metal, comprising one-million tonnes, alongside 550 000 oz of gold and 5.4-million ounces of silver.
The revised resource consists of two main components: the Ming mine, which holds 49.9-million tonnes at 2.0% copper equivalent, and the Little Deer deposit, containing 9.1-million tonnes at the same grade. Both components have been evaluated by independent consulting firms in compliance with the Joint Ore Reserve Committee Code and FireFly is currently preparing technical reports to meet Canadian National Instrument 43-101 standards.
The resource increase is attributed to FireFly’s growth strategy following its acquisition of the Green Bay project in October 2023. The company has conducted more than 1 400 m of underground development at the Ming deposit, positioning drill rigs for effective exploration of down-plunge extensions of high-grade volcanogenic massive sulphide mineralisation and broad footwall copper stringer zones FWZ.
With up to four drill rigs operating, FireFly has completed about 40 000 m of diamond drilling. The company's discovery cost remains notably low at A$79/estimated tonne of added copper-equivalent metal.
"This outstanding result confirms Green Bay’s status as one of the fastest-growing high-grade copper projects with genuine scale in the Western world.
“To achieve such immense growth in such a short time and for so little cost highlights the top-shelf quality of Green Bay, the skill of our team and the company’s commitment to multi-rig drilling programmes," said MD Steve Parsons.
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