Firefly Metals (ASX: FFM)
Reported drill results such as 46m at 4.6% Cu, 1.2g/t Au paving the way for a Resource update.
Drilling about to start from underground platform, accelerating Resource growth strategy.
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Firefly Metals Ming Mine location
Comment
Firefly Metals, (formerly Auteco), own the Green Bay Copper Mine previously owned by AIM listed Rambler Metals, which went into administration due to poor management execution after building the mine.
The Madsen Mine cost $400 million to construct, and was bought for a few million dollars, offering investors in Firefly an opportunity to reap the rewards of the past failure.
Firefly Metals Green Bay Copper-Gold Project, Canada, Spectacular grades up to 19% CuEq extend known mineralisation by 350m
Firefly Metals (ASX: FFM) reported drill results such as 46m at 4.6% Cu, 1.2g/t Au paving the way for a Resource update.
Drilling about to start from underground platform, accelerating Resource growth strategy.
Highlights
Results such as 46m at 4.6% Cu, 1.2g/t Au pave way for Resource update; Drilling
about to start from underground platform, accelerating Resource growth strategy
Key Points
• First assays from drilling by FireFly at Green Bay contain high copper and gold grades
over substantial widths
• The intersections extend the known limits of the VMS mineralisation by ~350m down
plunge
• Significant results1 received include:
o 46.4m @ 4.6% Cu, 1.2 g/t Au, 7.5g/t Ag (5.6% CuEq) MUG23-006
o 17.8m @ 4.4% Cu, 2.2 g/t Au, 18.8g/t Ag (6.6% CuEq) MUG23-003
o 14.7m @ 2.6% Cu, 5.5 g/t Au, 24.2g/t Ag, 1.2% Zn (7.5% CuEq) MUG23-004
o 11.2m @ 4.9% Cu, 2.3 g/t Au, 9.7g/t Ag (6.9% CuEq) MUG23-004
o 2.7m @ 13.5%, 7.0 g/t Au, 33.0g/t Ag (19.4% CuEq) MUG23-006
• FireFly is set to accelerate the implementation of its resource growth strategy with first
drilling from the new underground platform expected to start this month
• Plus, a second drill rig has arrived at site to fast-track step-out resource drilling
• More assays expected in coming weeks
FireFly MD Steve Parsons stated;
“To extend the known mineralisation by 350m with such wide, high-grade intersections in our first drilling program speaks volumes about the project’s exceptional quality and
immense upside.”
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds no shares in Firefly Metals.
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