FireFly Metals (ASX:FFM) has planned to incorporate recent drilling results into updated economic studies now expected in July–August 2026.
The update comes following assays including 42m @ 6.10% copper equivalent (CuEq) and 9.80m @ 16.50% CuEq from its Green Bay Copper-Gold Project in Newfoundland, Canada.
The company says the results demonstrate continuity of the ‘high-grade’ core zone and will feed into the impending studies.
Managing Director Steve Parsons says the combination of grade and width is ‘substantial’.
“These are exceptional results with extremely high grades over substantial widths. They also demonstrate the strong continuity of this mineralisation,” Parsons says.
The drilling has returned continuous thick intersections from the 800m-long ‘high-grade’ core zone, including 51.50m @ 4.90% CuEq and 50.20m @ 4.00% CuEq.
Results from infill drilling will be reflected in measured and indicated resources, central to the economic studies.
Upper VMS zones delivered intersections, including 20.70m @ 7.70% CuEq and 25.90m @ 6.40% CuEq. The footwall zone returned 35.70m @ 3.30% CuEq and 43.50m @ 3.00% CuEq.
The current Green Bay mineral resource stands at 50.40 million tonnes (Mt) @ 2.00% CuEq measured and indicated and 29.30Mt @ 2.50% CuEq inferred.
The ‘high-grade’ core zone contains 8.80Mt @ 3.90% copper equivalent measured and indicated, plus 10.90Mt @ 3.80% CuEq inferred.
Six rigs continue operating underground at the Ming Mine while regional exploration advances with drilling of geophysical targets. Maiden drilling has commenced at the Tilt Cove project.
“With six rigs drilling underground, as well as regional exploration in progress, we intend to keep growing and upgrading the resource in parallel with economic and technical studies,” Parsons says.
The drilling results will be incorporated into an updated mid-year mineral resource estimate underpinning the Preliminary Economic Assessment, which will highlight multiple potential development scenarios.
FireFly Metals is a copper-gold developer advancing its flagship Green Bay project in Newfoundland, with additional exposure to the Limestone Well vanadium-titanium project in Western Australia.
Write to JC Villarba at Mining.com.au
Images: FireFly Metals
