FireFly Metals (ASX:FFM) said assays from infill drilling at the Green Bay copper-gold project in Canada demonstrated high-grade continuous mineralization, according to a Thursday Australian bourse filing.
The firm plans to use the results for a mineral resource estimate update, including an upgrade of inferred resources to the measured and indicated category.
Intercepts encountered during the drilling included 11.6 meters at 9.3% grade of copper-equivalent, including 6% grade of copper and 3.9 grams per tonne (g/t) grade of gold, as well as 26.2 meters at 5.3% grade of copper-equivalent, including 4.9% grade of copper and 0.4 g/t grade of gold.
Two surface exploration drill rigs continue to test key regional geophysical targets, the firm added.
The firm's shares fell almost 1% in recent trading on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.