FireFly Metals announces Mineral Resource increased by 51% at Green Bay Copper Gold Project, Canada
Executive Summary
- Green Bay Copper‑Gold Project’s Mineral Resource increased to 50.4 Mt @ 2.0% CuEq (1 Mt CuEq) in Measured & Indicated (M&I) and 29.3 Mt @ 2.5% CuEq (722 kt CuEq) in Inferred, representing a 35 % rise in tonnes and 51 % increase in CuEq metal versus the October 2024 estimate.
- High‑grade core zone identified: 8.8 Mt @ 3.9% CuEq (M&I) and 10.9 Mt @ 3.8% CuEq (Inferred), with standout intercepts such as 49 m @ 6.1% CuEq (including 14.3 m @ 13.7% CuEq).
- Contained copper now 863 kt M&I (+113 %) and 566 kt Inferred, gold 546 koz M&I (+174 %) and 563 koz Inferred, silver 5.0 Moz M&I (+84 %) and 4.8 Moz Inferred; cash position A$129.7 M at 30 Sep 2025.
Key Details
- Resource Summary (Nov 2025 MRE):
- Measured & Indicated: 50.4 Mt @ 2.0% CuEq → 1,016 kt CuEq, containing 863 kt Cu, 546 koz Au, 5.0 Moz Ag.
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Inferred: 29.3 Mt @ 2.5% CuEq → 722 kt CuEq, containing 566 kt Cu, 563 koz Au, 4.8 Moz Ag.
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High‑Grade Core Zone:
- M&I core: 8.8 Mt @ 3.9% CuEq (346 kt CuEq).
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Inferred core: 10.9 Mt @ 3.8% CuEq (414 kt CuEq).
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Key Intercepts:
- Hole MUG25‑202 – 49.0 m @ 6.1% CuEq (incl. 14.3 m @ 13.7% CuEq).
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Additional high‑grade intersections: 86.3 m @ 3.7% CuEq, 43.6 m @ 7.6% CuEq, 44.5 m @ 3.7% CuEq (all from October 2025 drilling).
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Drilling Activity:
- Total of 1,334 diamond holes, 319,534 m drilled for the MRE; 242 new holes adding 78,165 m since October 2024.
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Ongoing underground program: six rigs operating into 2026; surface rigs testing geophysical targets.
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Economic Outlook:
- Feasibility Study targeted for H1 2026, leveraging the enlarged M&I resource (now 63 % of total).
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Of‑ftake discussions underway with multiple parties; confidentiality agreements signed.
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Metallurgical Highlights:
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Gold recoveries from recent testwork: 85 %; silver 84 %; copper ≈98 % (SGS Lakefield).
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Cost Efficiency:
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Discovery cost per tonne of CuEq added: C$25.12 / US$17.83, exceptionally low.
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Cash Position:
- A$129.7 M in cash, receivables and liquid investments as of 30 Sep 2025.
Notable Quotes
“This outstanding result cements Green Bay’s status as one of the most compelling copper development projects in the world… The appetite for our product is clearly very strong, with several parties signing confidentiality agreements and talks on offtake and funding progressing well.” – Steve Parsons, Managing Director, FireFly Metals Ltd.