FireFly reports new copper-gold VMS discovery at Green Bay, Canada
FireFly Metals reported a new copper-gold VMS discovery at Mount Joy in its Green Bay project in Newfoundland. The first hole cut 22.5m of mineralisation.
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what happened
Australian explorer FireFly Metals, according to a press release carried by GlobeNewswire, has found a new copper-gold volcanogenic massive sulphide (VMS) system at the Mount Joy prospect within its Green Bay project in Canada. The site lies about 35 km from the Ming Mine and only 2.6 km from the Nugget Pond processing plant, which is currently on care and maintenance.
The first hole, FFR26-071, returned 22.5m grading 2.5% CuEq, including 9.0m at 3.9% CuEq (3.0% Cu and 1.0 g/t Au). Follow-up hole FFR26-076 intersected about 40m of semi-massive sulphides, with assays still pending. Downhole geophysics points to further conductive targets close to the new find.
The company says the result points to further potential across the wider Tilt Cove district. An updated Mineral Resource Estimate and a Feasibility Study are planned for the coming quarter, ahead of a Final Investment Decision expected in mid-2027. As of 31 July 2026, FireFly reported roughly A$368 million in cash and liquid investments, unaudited.
why it matters
For copper and gold markets this is an early exploration result. The project's resource base has not yet been updated, and the investment decision is not due until mid-2027. Investors will watch the pending assays from FFR26-076 and the revised resource estimate, which should show the real scale of the deposit. The find is unlikely to move global metal prices on its own.
market impact
Copper and gold: early exploration result does not change supply yet, mainly affects FFM shares
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instruments
sources
- FireFly makes another significant high-grade copper-gold VMS discovery — globenewswire.com, 26 October 2026 at 22:52 UTC
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