Firefly Metals (ASX: FFM) has identified 325 potential greenfields targets at its Green Bay copper-gold project in Canada, following the first modern geophysics campaign conducted at the site. Firefly Metals is an Australian resources company focused on developing copper and gold projects. The company’s primary asset is the Green Bay Copper-Gold Project in Newfoundland, Canada.
Airborne electrical and magnetic surveys across the central project area, combined with detailed ground electromagnetic work, confirmed the targets exhibit significant conductive responses indicative of copper-gold bearing sulphide mineralisation. These new targets share similar geological characteristics and orientations to known mineralisation found at the historically-mined Ming, Rambler Main, and East Mines deposits.
Notably, the surveys identified a previously unknown lookalike anomaly, named ‘Hillbog’, located 300 metres south of the Rambler Main mine. Additionally, a series of large anomalies were detected within prospective volcanic rocks situated 8km southwest of the company’s flagship Ming mine, which currently holds a mineral resource of 24.4 million tonnes grading 1.9% copper equivalent (measured and indicated) and 34.5Mt at 2.0% CuEq (inferred).
Firefly Metals intends to systematically drill-test these targets as part of an accelerated surface exploration program to determine the cause of the anomalous responses. The company aims to have eight diamond rigs at Green Bay, allocating six to underground resource and exploration drilling at the Ming Mine and two to surface drilling. A recent share placement of $17.8 million will fund the discovery, targeting, and testing of these new targets between now and the end of 2026. The company anticipates a healthy financial position, with approximately A$145 million in cash and liquid investments.
