High-grade copper and gold intersections extend known mineralisation at FireFly's Green Bay by 650m
Executive Summary
- Step‑out drilling from the northern end of the 805 L exploration drive extended known mineralisation by >650 m beyond the October 2024 Mineral Resource Estimate.
- Hole MUG25‑202 returned a world‑class intersection of 49.0 m @ 6.1 % CuEq (true thickness ~39.2 m), including 14.3 m @ 13.7 % CuEq, the best result recorded to date at the Ming deposit.
- Multiple additional high‑grade intersections were intersected in VMS and Footwall Zone (FWZ) styles, confirming that the 700 m down‑hole electromagnetic (DHEM) anomaly is mineralised and that mineralisation remains open both laterally and at depth.
Key Details
- Hole MUG25‑202: 49.0 m @ 6.1 % CuEq (4.9 % Cu, 1.3 g/t Au) – true thickness ~39.2 m; includes 14.3 m @ 13.7 % CuEq (10.6 % Cu, 3.2 g/t Au).
- Hole MUG25‑208: 7.0 m @ 3.9 % CuEq (2.1 % Cu, 1.9 g/t Au) and 30.0 m @ 1.9 % CuEq (FWZ style).
- Hole MUG25‑190: 14.1 m @ 3.7 % CuEq (0.9 % Cu, 3.2 g/t Au) – includes a gold‑dominated zone of 1.8 m @ 15.2 % CuEq (1.8 % Cu, 15.9 g/t Au).
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Hole MUG25‑179: 33.9 m @ 1.9 % CuEq (FWZ style) and additional FWZ intersections of similar grade/width.
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All reported intercepts meet a cut‑off of ≥1 % Cu or ≥0.5 g/t Au, with ≤6 m internal waste allowed.
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Metal‑equivalent calculations use US$8,750/t Cu, US$2,500/oz Au, US$25/oz Ag, US$2,500/t Zn; recoveries assumed 95 % Cu, 85 % precious metals, 50 % Zn.
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Current Mineral Resource (Oct 2024):
- Measured & Indicated: 24.4 Mt @ 1.9 % CuEq → 460 kt CuEq
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Inferred: 34.5 Mt @ 2.0 % CuEq → 690 kt CuEq
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Exploration Activity:
- Six underground rigs (four for infill/resource upgrade, two for step‑out) continue drilling; total to date ~126,877 m of underground diamond drilling (245 holes).
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Regional exploration underway with two surface rigs testing geophysical anomalies; VTEM survey progressing over the adjacent Tilt Cove Project.
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Funding: Cash & liquid investments ≈ A$145 M after a recent A$98.1 M equity raise (A$10 M Share Purchase Plan + ~A$26.6 M institutional placement). Funds earmarked for accelerated drilling, resource upgrade and feasibility study completion.
Notable Quotes
“These results are truly world‑class… extending the known mineralisation by 650 m beyond the Mineral Resource with such a spectacular intersection demonstrates the exceptional growth outlook at Green Bay.” – Steve Parsons, Managing Director, FireFly Metals Ltd.
The release contains extensive technical appendices (intercept tables, JORC compliance statements, geophysical data) that support the material nature of the drilling results and underpin the forthcoming Mineral Resource update planned for later this quarter.