FireFly Metals (ASX: AUT)
Reported drill Results of up to 9.4% copper and 4.7g/t gold from outside the existing Resource at Green bay.
Formerly Auteco, Firefly has taken over the former producing asset in Newfoundland and is growing the resources before resuming production.
.
.
Firefly Metals | ASX : AUT |
Stage | Exploration / development |
Metals | Copper / Gold |
Market cap | A$220 m @ 61c |
Location | Newfoundland, Canada |
FireFly Metals Green Bay Copper-Gold Project, Canada – Exceptional high-grade copper and gold intersections point to rapid resource growth
.
Results of up to 9.4% copper and 4.7g/t gold from outside the existing Resource
.
Key Points
• FireFly Metals has completed analysis for copper, gold, silver and zinc on historic 2022 drillholes that were only assayed for copper by the previous operator
• In addition to the known high-grade copper, these new results demonstrate significant
quantities of precious (gold and silver) and base metals (zinc) in the high-grade VMS
zone.
.
Results include:
o 9.3m @ 9.4% Cu, 4.7 g/t Au, 20.5g/t Ag, 1.3% Zn (13.6% CuEq) RM22-795-15
o 16.8m @ 6.7% Cu, 3.5 g/t Au, 24.8g/t Ag, 4.9% Zn (11.2% CuEq) RM22-795-10
o 41.2m @ 5.9% Cu, 1.3 g/t Au, 13.3g/t Ag (7.1% CuEq) RM22-795-06
o 47.2m @ 4.7% Cu, 2.2 g/t Au, 14.3g/t Ag (6.8% CuEq) RM22-795-14
o 18.4m @ 4.6% Cu, 1.9 g/t Au, 10.9g/t Ag (6.3% CuEq) RM22-795-02
o 31.6m @ 3.6% Cu, 1.1 g/t Au, 9.8g/t Ag (4.6% CuEq) RM22-795-08
• Importantly, these results are from extensions of the high-grade VMS lode and are
therefore outside the Resource
• As part of its Resource growth strategy, FireFly has commenced an underground
exploration drill drive as well as its 40,000m underground diamond drilling programme;
Assays are expected in coming weeks
• FireFly is fully-funded with A$24m to complete the first year of its resource growth and
exploration drilling plan
.
FireFly MD Steve Parsons stated,
“This strategy is aimed at achieving rapid growth in the Resource, which will in turn confirm Green Bay is a major high-grade copper-gold project with extensive existing infrastructure in a tier-one location”.
1 All reported results are downhole widths.
Drilling metal equivalents have been calculated at a copper price of US$8,300/t, gold price of US$2,000/oz, silver price of US$25/oz and zinc price of US$2,500/t.
To read the full news release, please click HERE
.
=======
If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
.
Disclosure
At the time of writing the author holds no shares in FireFly Metals.
.