FireFly Metals (ASX:FFM) has increased the resource estimate for its Green Bay Copper-Gold Project in Newfoundland, Canada, to 50.4 million tonnes at 2% for 1 million tonnes copper-equivalent.
With an additional 29.3 million tonnes at 2.5% for 722,000 tonnes copper-equivalent in the inferred category, the updated model incorporates more than 78,000m of new underground drilling.
FireFly says the core zone now contains 8.8 million tonnes at 3.9% copper-equivalent in the measured and indicated category and 10.9 million tonnes at 3.8% copper-equivalent in the inferred category, reinforcing the potential for higher-grade early stage mine scheduling.
Mineralisation remains open, supported by downhole electromagnetic conductors extending beyond the limits of the estimate.
Managing Director Steve Parsons says the expansion strengthens the project’s development outlook, particularly given the sizeable volume of “high-grade” material.
“This outstanding result cements Green Bay’s status as one of the most compelling copper development projects in the world,” Parsons says.
“At the same time, we have established a high-grade core which stands to deliver huge benefits to the project’s development potential, particularly in the initial years of production.
“The appetite for our product is clearly very strong, with several parties signing confidentiality agreements and talks on offtake and funding progressing well.”
FireFly will continue underground drilling into 2026 using six rigs to expand zones and convert inferred material, as well as test geophysical targets and greenfield prospects.
The company is progressing permitting and early works preparation following conditional environmental clearance, with economic studies expected in the first half of 2026.
This content was created with AI assistance and human editing.
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Images: FireFly Metals
