https://www.miningweekly.com
Copper|Exploration|Gold|PROJECT|Operations
Copper|Exploration|Gold|PROJECT|Operations
copper|exploration|gold|project|operations

FireFly to step up regional exploration as it grows Green Bay holding

4th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

ASX-listed exporer FireFly Metals on Monday announced a transaction to buy the Tilt Cove exploration property, in Newfoundland, Canada, from TSX-listed Signal Gold.

The transaction will add a further 115 km2 of exploration tenure that is continuous to the emerging Green Bay copper and gold project.

The 54% increase in land holding sees the Green Bay project grow to a total area of 326 km2.

“This is a golden opportunity to secure a large parcel of compelling exploration tenure right next to our Green Bay project,” commented MD Steve Parsons.

The Tilt Cove property is highly prospective for volcanogenic massive sulphide (VMS) deposits similar to FireFly’s Ming mine that has recently increased its resource to 59-million tonnes at 2% copper-equivalent. Furthermore, the project contains strong potential for high-grade orogenic-style gold mineralisation.

A key target within the acquisition area is the namesake Tilt Cove copper/gold VMS deposit, which was one the world’s largest copper mines in the late nineteenth century. A total of  170 000 t of copper and 50 000 oz of gold was first mined between 1864 and 1917, with operations briefly resuming between 1957 and 1967.

FireFly will acquire the Tilt Cove property through a share purchase agreement comprising C$570 000 in cash and 2.3-million shares, being worth C$2.5-million.

The company has a clear strategy to rapidly grow the copper/gold resource at Green Bay to demonstrate a globally significant copper/gold asset.

The sale to FireFly comes as Signal and NexGold are advancing their merger to create a Canada-focused gold developer.

 

Edited by Creamer Media Reporter

Comments

Latest News

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
Updated 7 hours ago

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.143 0.176s - 150pq - 2rq
Subscribe Now