FireFly Metals (ASX:FFM) has today declared its Green Bay Copper-Gold Project an “exceptional asset,” with the company pointing to “outstanding” assays from its latest infill drilling campaign as proof in the pudding.
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Green Bay’s very high-grade hits included 11.6 metres at 9.3% copper equivalent, 5.5 metres at 7.1%, and 14.6 metres at 6.7%, and “demonstrate the continuity and quality of the Volcanogenic Massive Sulphide mineralisation.”
The broad Footwall Stringer Zone also continues to demonstrate “thick, consistent copper mineralisation,” FireFly wrote, suggesting large-scale bulk mining is possible.
“These absolutely superb assays… show why Green Bay is in such an enviable position,” FireFly managing director Steve Parsons declared. “With investors and metal traders around the world scrambling for high-quality copper and gold projects in tier-one locations, Green Bay meets all the key criteria.”
These July results will be used to update Green Bay’s MRE later this year; HotCopper understands the explorer also wants to hike the mine’s category from “Inferred” up to “Measured and Indicated” at the same time.
FireFly has deployed eight already-drilling rigs as it chases the MRE upgrade.
Most of those upgrade hopes rely on the fact that Green Bay has both upper copper-gold rich VMS lenses and a broad copper stringer zone, the aforementioned Footwall Zone – both will be cornerstone sites moving forward.
Mr Parsons confirmed the explorer will be chasing the upgrade as quickly as possible. That updated MRE will then be leveraged in future mining studies.
“This multi-pronged strategy is aimed at unlocking the value of what is clearly an exceptional copper-gold asset in a highly desirable location at a time when such projects are in hot demand,” Mr Parsons explained.
FFM heads into Thursday trade at $1.13 a share; it’s up +22% YTD.
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