FireFly finds copper-gold system near idle mill

AI desk brief

FireFly Metals reported a new copper-gold discovery at Mount Joy near its idle Nugget Pond mill in Newfoundland, with hole FFR26-071 cutting 22.5m at 1.87% copper and 0.64g/t gold from 109m downhole. The find adds a possible satellite deposit to the Green Bay development plan and supports the case for a larger regional processing hub, though Mount Joy’s size and economics are not yet defined.

The company also reported follow-up sulphides in hole FFR26-076, with assays pending in about four weeks, while management continues converting and expanding Ming resources ahead of an updated estimate and feasibility study due in Q1 2027. FireFly shares rose 9.2% in Toronto and 9.3% in Sydney on the news.