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    FireFly copper-gold system near Nugget Pond: mine planning notes for engineers

    October 28, 2026|

    Reviewed by Joe Ashwell

    FireFly copper-gold system near Nugget Pond: mine planning notes for engineers

    First reported on MINING.com

    30 Second Briefing

    FireFly Metals has intersected a new volcanogenic massive sulphide copper-gold system at Mount Joy, just 2.6 km from its idle Nugget Pond mill and 35 km east of the Ming mine, with hole FFR26-071 cutting 22.5 m at 1.87% Cu and 0.64 g/t Au from 109 m, including 9 m at 2.95% Cu and 0.95 g/t Au. Follow-up drilling guided by downhole EM has hit ~40 m of semi-massive sulphides in FFR26-076 (240–280 m, assays pending), and a winter access road from Nugget Pond is planned to support further work. The discovery sits within the broader Green Bay plan, which currently envisages a 1.8 Mt/y plant over >32 years on 60.2 Mt at 1.9% Cu and 0.5 g/t Au, with a feasibility study and potential FID targeted for 2027.

    Technical Brief

    • FireFly has allocated $16.7 million to regional exploration in fiscal 2027, funding three surface rigs.
    • Six underground rigs at Ming are focused on resource conversion and expansion ahead of feasibility work.
    • Green Bay measured and indicated inventory totals 60.2 Mt at 1.9% Cu and 0.5 g/t Au.
    • Contained metals in current Green Bay resources are ~1.16 Mt Cu and 908,000 oz Au, including Ming and Little Deer.
    • August PEA envisages a 1.8 Mt/y central plant operating for more than 32 years.
    • Early works approvals in Newfoundland and Labrador cover site clearing, camp construction, and electrical and wastewater upgrades.

    Our Take

    FireFly Metals’ Green Bay copper-gold project already carried an after-tax NPV of about C$2.1 billion and 42% IRR in the August study, so the Mount Joy and Main Mine discoveries near Ming and the Nugget Pond mill could materially extend or de-risk that case if they can be tied into the same 1.8 Mt/y processing scenario.

    With a 60.2 Mt measured and indicated resource at Green Bay grading 1.9% copper and 0.5 g/t gold, the C$16.7 million regional exploration budget to fiscal 2027 signals a deliberate push to convert what is currently a single large resource centre into a broader district play around Ming, Nugget Pond and Tilt Cove.

    The mention of the Shootaring Canyon Mill and the fact there are only three licensed, permitted and constructed conventional uranium mills in the US underlines why any future uranium toll-milling or restart options in Utah can command strategic value out of proportion to current uranium output in our database.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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