The FireFly Metals Ltd (ASX: FFM) share price is in focus after the company reported more high-grade copper and gold drill results from its Green Bay project in Canada. Key results include an impressive 11.5 metres at 11.1% copper and 2.1g/t gold, and 65.3 metres at 4.3% copper equivalent, set to bolster the company's upcoming Mineral Resource Estimate.
Image source: Getty Images
What did FireFly Metals Ltd report?
- New high-grade assays from Green Bay, including 11.5m @ 13.2% copper equivalent (11.1% Cu, 2.1g/t Au)
- Core Zone drilling delivered 65.3m @ 4.3% copper equivalent
- Current Green Bay Mineral Resource Estimate: 50.4Mt @ 2.0% CuEq Measured & Indicated, 29.3Mt @ 2.5% CuEq Inferred
- Six underground rigs advancing near-mine targets; three surface rigs on regional exploration
- Well funded with approximately A$196.4 million in cash and liquid investments as at 30 June 2026 (unaudited)
What else do investors need to know?
The ongoing drilling at the Green Bay Copper-Gold Project is aimed at both infilling and growing the resource, increasing the amount in the higher-confidence Measured and Indicated categories. FireFly says these results are vital for underpinning an updated Mineral Resource Estimate to be released soon, which will shape economic studies for a future production re-start.
Regional exploration is also picking up, with three rigs testing new anomalies at Green Bay and the maiden drill program now underway at the nearby Tilt Cove project. The company remains in a strong financial position to support ongoing exploration, resource growth, and early stage development activities.
What did FireFly Metals Ltd management say?
FireFly's Managing Director, Steve Parsons, said:
If grade is king, we are on track for an almighty coronation at Green Bay, with a resource update and economic studies almost finished. These high-grade infill drilling results, such as 11.5m at 11.1% copper, will feed straight into the resource update and support our strategy to grow the all-important Measured & Indicated category.
This will in turn drive the economic studies, where the impact of the high-grade core zone is expected to be seen in the early years of a production re-start. As we put the finishing touches on the resource update and economic studies, we are continuing our drilling blitz, with six rigs underground and regional targets being tested.
What's next for FireFly Metals Ltd?
Looking ahead, FireFly Metals aims to complete its updated Mineral Resource Estimate and Preliminary Economic Assessment by the end of August 2026. These will form the backbone of the company's plan to restart and potentially upscale copper and gold production at Green Bay.
The near-term focus will remain on converting more of the resource to Measured and Indicated status, regional exploration, and progressing project permitting and early works as it moves towards future possible construction and mining approvals.
FireFly Metals Ltd share price snapshot
The FireFly Metals share price has delivered strong returns for investors over the past 12 months, outperforming many ASX 200-listed peers in the materials sector as its Green Bay exploration story develops.
