FireFly Metals Ltd (ASX:FFM) managing director Steve Parsons joins Jonathan Jackson in the Proactive studio to discuss how the company is advancing towards a potentially significant resource update for its Green Bay Copper-Gold Project in Canada, expected before the end of October 2024.
The company has received additional high-grade copper equivalent (CuEq) results from recent drilling activities. Notable findings include 3.2 metres at 11.8% CuEq from the volcanogenic massive sulphide (VMS) zone and 43.2 metres at 2.2% CuEq from the Footwall zone.
Currently, four drilling rigs are operational underground, contributing to the resource estimate update. The Green Bay Project holds 811,000 tonnes of metal at 2.1% CuEq, with recent drilling extending known mineralisation by approximately 500 metres beyond the current resource boundary.
Parsons emphasised the importance of these results in supporting the upcoming resource estimate and highlighted the effectiveness of geophysical surveys in identifying new prospective areas.
FireFly Metals is planning additional down-hole electromagnetic (DHEM) surveys to explore further extensions of the copper zones. The company remains financially secure with $38.1 million available as of June 30, 2024.