FireFly announces major high-grade copper and gold exploration breakthrough at Green Bay
FireFly Metals Ltd. announced a major exploration breakthrough at its Green Bay Copper-Gold Project in Canada on October 26, 2025. The company reports that drilling has defined a long, extremely high-grade core of copper and gold mineralization over a strike length of at least 800 meters, which remains open along strike and at depth.
Key drill intercepts highlighted include: - MUG25-214: 43.6m @ 2.1 g/t Au - MUG25-144: 44.5m @ 0.8 g/t Au - MUG25-202: 49.0m @ 1.3 g/t Au (step-out hole)
The company notes that its 130,000-meter underground drilling program is now substantially complete, with 129,200 meters drilled in 246 holes. Eight drill rigs remain active on site. FireFly reaffirms its schedule to release an updated Mineral Resource Estimate (MRE) this quarter (Q4 2025), followed by a preliminary economic study in Q1 2026.
FireFly Metals Ltd. (FFM) has released drill results that extend the confirmed high-grade strike length at its Green Bay deposit to 800 meters. The company states these findings provide further confirmation of the continuity and high-grade nature of the deposit ahead of a pivotal Mineral Resource Estimate update.
The company’s recent operational timeline has seen significant financial and technical milestones. In early 2025, FireFly reported strong drill results and solid financials. During June and July 2025, the company raised approximately A$108 million, securing a cash position of ~A$145 million. This funding fully supported accelerated exploration and study plans. By August 2025, FireFly achieved conditional environmental approval and reported exceptional metallurgical results, showing greater than 98% copper and greater than 85% gold recoveries via conventional processing.
On October 15, 2025, the company released drill results that extended known mineralization by 650 meters. The release included hole MUG25-202, which intersected 49.0m @ 6.1% CuEq (4.9% Cu, 1.3 g/t Au).
The current release builds on that October 15th news. However, the headline intercepts in this release only report gold grades, omitting the corresponding copper grades. For example, hole MUG25-202 is re-reported here with only its 1.3 g/t Au grade, omitting the 4.9% Cu grade reported previously.
The news provides the final key inputs for the upcoming MRE. It reinforces the thesis that Green Bay is a large, high-grade system. The market had already begun to price in a significant resource expansion, and this news meets those expectations.
FireFly Metals Ltd is a dual-listed (ASX, TSX) mineral exploration and development company focused on its flagship Green Bay Copper-Gold Project in Newfoundland, Canada. The project includes the past-producing Ming Mine and associated infrastructure. The company's strategy is to aggressively drill and expand the existing JORC/NI 43-101 compliant Mineral Resource to demonstrate a globally significant, high-grade copper-gold asset, with the ultimate goal of restarting production at an upscaled rate. The mineralization occurs in two primary styles: high-grade Volcanogenic Massive Sulphide (VMS) lenses and a broader copper-stringer Footwall Zone (FWZ).