FireFly Metals (ASX:FFM) said that drilling at its Green Bay copper-gold project in Canada found high-grade mineralization, allowing for the upgrade of inferred resources to measured and indicated resources, according to a Tuesday Australian bourse filing.
It intersected high-grade copper-gold rich zones while drilling the massive sulfide lenses, including an intercept of 14.2 meters at 7.5% grade of copper-equivalent, consisting of 5.7% grade of copper and 2 grams per tonne grade of gold.
It also intersected thick and consistent copper mineralization at the Footwall stinger zone, including an intercept of 50.9 meters at 2.6% copper-equivalent, consisting of 2.5% grade of copper and 0.2 g/t grade of gold.
It said further infill drilling is being planned for the high-grade zone at the northern margins of the current mineral resource and it is conducting step-out drilling to test for high-grade down plunge extensions beyond the current Ming mine resource.
Its shares rose over 2% in recent trading on Tuesday.
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