FireFly Metals' (ASX:FFM) first drilling at its Rambler Main Mine in Canada confirms the prospectivity of regional targets and can potentially be a "multi-million tonne" resource in the making, said Euroz Hartleys in a Friday note.
Results from the first two holes in the project returned intersections, including 10 meters at 6.4% copper equivalent and 12.9 meters at 4.3% copper equivalent, according to a Wednesday Australian bourse filing by the company.
The research firm believes the drilling results can potentially make the mine as lucrative as the company's other asset, Ming.
The research firm noted that the current soft sentiment in copper presents an opportunity to buy the company's shares.
Euroz Hartleys maintained its buy rating on Firefly Metals with a price target of AU1$1.69.
The company's shares rose 4% in recent Friday trade.
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