Exceptional Drill Results Highlight High-Grade Continuity
FireFly Metals Ltd (ASX, TSX: FFM) has announced outstanding assay results from its ongoing drilling program at the Green Bay Copper-Gold Project in Newfoundland and Labrador, Canada. The latest intersections, including 42.0 meters at 6.1% copper equivalent (CuEq) and 9.8 meters at 16.5% CuEq, underscore the strong continuity of the high-grade core zone, which is expected to significantly enhance the project's early production profile.
The results, primarily from infill drilling, will be incorporated into an updated resource model that underpins the economic studies for the upscaled restart of mining at Green Bay. These studies are now scheduled for completion in July-August 2026.
Key Assays from the High-Grade Core Zone
Drilling in the +800-meter-long high-grade core zone returned multiple continuous thick intersections:
- 42.0m @ 6.1% CuEq (4.7% Cu & 1.4g/t Au), including 9.8m @ 16.5% CuEq (12.7% Cu & 4.0g/t Au) (~ true thickness) in hole MUG26-053
- 51.5m @ 4.9% CuEq (4.0% Cu & 0.9g/t Au), including an upper zone grading 17.0m @ 9.1% CuEq (7.5% Cu & 1.7g/t Au) (~ true thickness) in hole MUG26-054
- 50.2m @ 4.0% CuEq (3.5% Cu & 0.4g/t Au) in hole MUG26-036
- 34.4m @ 5.0% CuEq (3.8% Cu & 1.2g/t Au), including an upper zone grading 14.3m @ 7.6% CuEq (5.2% Cu & 2.5g/t Au) (~ true thickness) in hole MUG26-028
The high-grade core zone remains open at depth, with the deepest hole drilled to date returning 49.0m @ 6.1% CuEq (see ASX announcement dated 16 October 2025).
Upper VMS and Footwall Zone Intersections
The upper Volcanogenic Massive Sulphide (VMS) zones also delivered impressive copper and gold intersections, including:
- 20.7m @ 7.7% CuEq (5.9% Cu & 1.9g/t Au) in hole MUG26-013
- 13.6m @ 6.8% CuEq (5.7% Cu & 1.1g/t Au) in hole MUG26-029
- 17.8m @ 6.7% CuEq (5.4% Cu & 1.4g/t Au) in hole MUG25-279
- 25.9m @ 6.4% CuEq (5.5% Cu & 1.0g/t Au) in hole MUG26-044
- 18.6m @ 6.1% CuEq (4.5% Cu & 1.7g/t Au) in hole MUG26-038
- 9.2m @ 6.1% CuEq (1.8% Cu & 4.9g/t Au) in hole MUG25-281
Significant intersections from close-spaced drilling in the footwall stringer-style mineralisation include:
- 35.7m @ 3.3% CuEq (3.1% Cu & 0.2g/t Au) in hole MUG25-278
- 25.3m @ 3.8% CuEq (3.5% Cu & 0.3g/t Au) in hole MUG26-008
- 43.5m @ 3.0% CuEq (2.6% Cu & 0.4g/t Au) in hole MUG25-285
Resource Update and Economic Studies
The current Green Bay Mineral Resource stands at 50.4 million tonnes at 2.0% CuEq in the Measured & Indicated (M&I) category, with an additional 29.3 million tonnes at 2.5% CuEq in the Inferred category (see ASX announcement dated 18 November 2025). The high-grade core zone contains 8.8 million tonnes at 3.9% CuEq M&I and 10.9 million tonnes at 3.8% CuEq Inferred.
FireFly Managing Director Steve Parsons commented: “These are exceptional results with extremely high grades over substantial widths. They also demonstrate the strong continuity of this mineralisation. This is an outstanding combination of grade and width. The continuing of this mineralisation is a very positive indicator for the upcoming economic studies, which will assess the potential development scenarios for Green Bay. These results will be included in the economic studies, which are in the process of being completed, enabling us to demonstrate the financial benefits of such a rich core of mineralisation.”
Ongoing Drilling and Regional Exploration
Six rigs continue to operate underground at the Ming Mine, with regional exploration also in progress. Maiden drilling has commenced at the Tilt Cove project. The company is well funded, with approximately A$219.9 million in cash and liquid investments as of 31 March 2026, supporting its growth objectives.
Metal equivalent calculations used copper price US$8,750/t, gold price US$2,500/oz, silver price US$25/oz, and zinc price US$2,500/t, with recoveries set at 95% for copper, 85% for precious metals, and 50% for zinc.
