FireFly Metals Hits High-Grade Copper Zones, Sets Stage for Resource Growth at Green Bay

These exceptional results are highly significant as they demonstrate strong VMS and FWZ mineralization between the current resource and a previous 460m step-out exploration hole that returned 6.3m @ 5.9% CuEq in the VMS and 102m @ 1.7% Cu in the FWZ. This suggests significant potential for resource growth beyond the current estimate of 39.2Mt at 2.1% for 811,000t CuEq.

FireFly Managing Director Steve Parsons commented, “These are exceptional results with high grades and strong widths well beyond the existing resource boundary.”

“This means they are entirely consistent with our strategy to keep growing the resource. We are also accelerating our growth campaign, with drilling now taking place from the underground exploration drive, which makes it faster, cheaper and more accurate, and a third rig will start in the next few weeks.”

“With ongoing drilling, strong newsflow, a resurgent copper price and manoeuvring in the copper space now extending right up to the multi-nationals, FireFly’s outlook is strengthening by the day”.

The company plans to accelerate its growth program using funds from the recent A$52M capital raising. A third drill rig is scheduled to commence in May to further accelerate resource growth expansion and in-mine exploration. Geophysical targeting is also set to start in the coming weeks as part of the strategy to make new discoveries at Green Bay, in addition to the highly successful extension drilling campaign.

In other news, FireFly has strengthened its executive team with the appointment of highly experienced Chief Financial Officer Ms Chen Sun, effective 29 April 2024.

As copper prices continue to rise amid growing demand from the renewable energy and electric vehicle sectors, companies like FireFly Metals are well-positioned to capitalize on the growing interest in the base metal.