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FireFly set to capitalise on strong copper outlook with economic studies underway
HIGHLIGHTS Total Green Bay Mineral Resource increased to 50.4Mt @ 2.0% Copper Equivalent (C...
About this update from First Mining Gold Corp.
[{"type":"text","content":"FireFly set to capitalise on strong copper outlook with economic studies underwayPreliminary Economic Assessment on Green Bay Copper-Gold Project on track for completion in the June 2026 quarter, highlighting the value of the world-scale Resource\nHIGHLIGHTS Total Green Bay Mineral Resource increased to 50.4Mt @ 2.0% Copper Equivalent (CuEq) in the Measured & Indicated (M&I) categories plus 29.3Mt @ 2.5% CuEq in the Inferred category: This was a 51% increase from the previous Mineral Resource Estimate (MRE) of October 2024Contained copper increased to 863kt M&I (+113%) plus 566kt InferredContained gold increased to 546koz M&I (+174%) plus 563koz Inferred (+62%) (see ASX announcement dated 18 November 2025) FireFly has established a high-grade core comprising 8.8Mt @ 3.9% CuEq in the M&I and 10.9Mt @ 3.8% CuEq in the Inferred categories, materially enhancing development options (see ASX announcement dated 27 October 2025)Importantly, the highly valuable M&I categories of Mineral Resource at the Ming Deposit have grown by 121% (from 21.5Mt to 47.5Mt) and now make up 67% of the Ming Deposit Mineral Resource. This is significant as the M&I Resources will underpin economic studies (see ASX announcement dated 18 November 2025)Exceptional drilling results extended mineralisation to depth and down-plunge, including 49.0m @ 6.1% CuEq, the best intercept to-date, with mineralisation remaining open in multiple directions (see ASX announcement dated 16 October 2025)Highly experienced resource specialist Leanne Heywood was appointed as an Independent Non-Executive Director (see ASX announcement dated 3 November 2025)~A$139 million equity raising completed, supplemented by a A$10m Share Purchase Plan (see ASX announcement dated 18 December 2025)Preliminary Economic Assessment set for completion in the June 2026 quarter, underpinned by the upgraded Mineral Resource; a Feasibility Study is expected to be finalised by the end of the 2026 calendar yearFireFly enters 2026 well-funded, with ~A$250.9 million1 in cash and liquid investments, to execute an aggressive multi-rig drilling program, progress mining studies and advance development activitiesDiscussions regarding funding options are underway, including with potential offtake customers and export credit agencies; initial talks reveal a strong appetite for the ...