FireFly Metals Ltd (ASX: FFM) (“Company” or “Firefly”) is happy to announce its finest assays but on the Inexperienced Bay copper-gold undertaking.
KEY POINTS
- Newest drilling on the Ming Mine throughout the Inexperienced Bay Undertaking returns spectacular outcomes which assist the Firm’s technique to proceed rising the Useful resource (at the moment 59Mt at 2% CuEq; see ASX launch dated 29 October 2024)
- There are two distinct kinds of mineralisation at Ming; higher copper-gold wealthy Volcanogenic Large Sulphide (‘VMS’) lenses above a broad copper footwall stringer zone (‘FWZ’)
- The most recent drilling reveals sturdy FWZ mineralisation straight beneath the high-grade VMS; This has resulted in steady copper-gold intersections that are each broad (~true thickness) and high-grade, together with drill holes:
- 86.3m @ 3.7% CuEq 1 (3.1% Cu & 0.6g/t Au) in gap MUG24-079
Intersection consists of two distinct VMS lodes grading 15.5m @ 4.6% CuEq and 9.9m @ 5.8% CuEq above a broad copper FWZ intersection with a high-grade core of 27.6m @ 5.3% CuEq
- 76.3m @ 2.9% CuEq (2.4% Cu & 0.5g/t Au) in gap MUG24-073
Intersection consists of an higher VMS lode grading 20.1m @ 6.1% CuEq above a number of FWZ intersections together with 24.0m @ 2.6% CuEq and 11.0m @ 2.4% CuEq
- Different notable assays acquired subsequent to the completion of the October 2024 Useful resource replace embody (~true thickness):
- 7.9m @ 3.8% CuEq (1.1% Cu & 2.9g/t Au) VMS zone MUG24-070
- 21.0m @ 1.8% CuEq and 21.9m @ 1.9% CuEq and 19.7m @ 2.0% CuEq FWZ zone MUG24-070
- 50.9m @ 1.7% CuEq (1.6% Cu & 0.1g/t Au) FWZ zone MUG24-069
- Each the high-grade huge sulphide zones and broad footwall stringer zones stay open, with downhole geophysical surveys indicating possible extensions to the mineralisation
FireFly Managing Director Steve Parsons stated: “These distinctive new outcomes spotlight each the standard and ongoing development potential at Inexperienced Bay.
”The outcomes, which come from among the deepest holes drilled so far, are world-class, demonstrating exceptionally excessive grades over big true widths. They are going to be included within the subsequent Useful resource replace.
“The Useful resource stays open, and we are going to proceed so as to add worth via the drill bit by persevering with to develop and infill what’s already a high-grade and large-scale copper deposit”.
The outcomes spotlight the massive scope for ongoing development within the Useful resource, which already stands at 59Mt @ 2% for 1.2Mt of contained copper metallic equal.
These reported intersections have been acquired after the October 2024 Useful resource replace.
There are two distinct kinds of mineralisation on the Ming underground mine at Inexperienced Bay. One includes the higher copper-gold wealthy Volcanogenic Large Sulphide (‘VMS’) lenses. This sits above a broad copper stringer zone generally known as the Footwall Zone (‘FWZ’).
Drilling on the margins of the present Useful resource present the event of a powerful copper-rich footwall zone straight beneath the higher VMS lenses. In different elements of the deposit the separation of the VMS and FWZ can exceed 50 metres. Their convergence has resulted in thick and constant high-grade copper and gold intersections that are amongst the most effective mineralised outcomes returned from the deposit so far. Highlights embody 86.3m @ 3.7% CuEq (~true thickness) made up of two separate VMS intersections of 15.5m @ 4.6% CuEq and 9.9m @ 5.8% CuEq above a thick FWZ mineralised zone with a core of 27.6m @ 5.3% CuEq.
Each the high-grade huge sulphide zones and broad footwall stringer zones stay open, with downhole geophysical surveys indicating possible extensions to the mineralisation pointing to future useful resource development.
The Firm will proceed with its technique of Useful resource development at Ming with exploration growth persevering with to place drill rigs to ship Useful resource development throughout 2025. 4 rigs proceed to drill underground as a part of the fully-funded 130,000m marketing campaign designed to ship each further Useful resource extensions and infill drilling to extend confidence within the Inferred areas of the present estimate.
FireFly is effectively funded with ~A$88M in money on the finish of October 2024.
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