Firefly Metals Ltd · ASX:FFM
Firefly Metals — Melbourne Mining Club Presentation (July 2024)
51 slides from Firefly Metals's conference presentation, Jul 23, 2024
Slide 1: High-Grade Copper and Gold
ASX FFM For personal use only High-Grade Copper and Gold Significant and immediate growth through the drill bit • Company led by former Bellevue Gold and Northern Star executives with a proven track record • Targeting rapid resource growth • Building world-class scale • Exceptional infrastructure in
Slide 2: Disclaimer & Cautionary Statements
Not for release to US wire services or distribution in the United States DISCLAIMER & CAUTIONARY STATEMENTS This presentation has been prepared by FireFly Metals Limited (Company) based on information from its own and third party sources and is not a disclosure document. No party other than the Comp
Slide 3: Forward Looking Information
FORWARD LOOKING INFORMATION For personal use only This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forward-looking statements as
Slide 4: Investment Highlights
Investment Highlights Rapid low-cost growth through the drill bit - a proven strategy for value creation For personal use only GREEN BAY COPPER GOLD PICKLE CROW GOLD PROVEN TRACK RECORD • High grade copper and gold in • High grade gold in Ontario, • Management team with a Newfoundland & Labrador, Ca
Slide 5: Exceptional Share Register and Strong Balance Sheet
Exceptional Share Register and Strong Balance Sheet Well-funded to deliver strong velocity of news flow through 2024 - 2025 For personal use only CAPITAL STRUCTURE CURRENT Shares on issue 480.7M1 A$0.80 A$385M Management performance rights 34.9M2 Current Share Price1 Market Capitalisation1 SHAREHOLD
Slide 6: Board and Management
Board and Management A Leadership team with proven success in the Resources Sector For personal use only Kevin Tomlinson Steve Parsons Michael Naylor Jessie Liu-Ernsting Renée Roberts Darren Cooke Independent Independent Independent Chief Executive Managing Director Executive Director Non-Executive
Slide 7: Exceptional Management and In-Country Team
Exceptional Management and In-Country Team Management team with in-depth Canadian mining expertise For personal use only Maddison Juan Gutierrez Tabatha LeBlanc Jim Edwards Gus Simbanegavi Corey Greenham Bonnie Matthews Cramer Vice President Environment and Vice President COMPANY Group Chief Explora
Slide 8: A Lack of Quality Copper Opportunities on the ASX
COPPER PRODUCTION - TONNES For personal use only CY 2023 Actual - ASX ASX FFM 0 50,000 100,000 Ming Mine (2022) Capricorn Cu (29 Metals) Mt Colin (Aeris) Anthill (Austral Resources) copper production in 2023 Nova-Bollinger (IGO) District scale exploration potential Eloise (AIC Mines) 1. Please see A
Slide 9: Green Bay Copper & Gold: A potential company making project
Green Bay Copper & Gold A potential company making project For personal use only GREEN BAY McILVENNA BAY COBAR ERNEST HENRY Location Newfoundland, Canada Saskatchewan, Canada NSW, Australia Queensland, Australia Stage Pre-Development Development Production Production Resource1 Tonnes:2 39.2Mt Tonnes
Slide 10: Our Competitive Advantages
Green Bay Copper-Gold Project (100% FireFly ownership) Our Competitive Advantages For personal use only ‘A Potential Game Changer’ District Scale Already commenced: • Dominant landholding of ‘Prime’ VMS mineralised rock types • Little exploration over the past 20 years 100,000m drilling • Regional s
Slide 11: Newfoundland – A Maritime and Mining Province
Newfoundland – A Maritime and Mining Province Newfoundland For personal use only Hydro & Labrador FireFly Metals Green Bay Operations Ming Copper Mine Fully Operational Mine FireFly Metals Pine Cove Deepwater Port Hydro Project is accessible 365 days a year by road, air & sea Hydro 1.5 hour drive fr
Slide 12: Green Bay Copper Gold Project - Virtual Site Tour
Green Bay Copper Gold Project - Virtual Site Tour The next 12 pages are summary screen shots of the video presentation For personal use only View full video click link below: www.fireflymetals.com.au ASX FFM
Slide 13: Green Bay Overview - Location
Green Bay Overview - Location For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 14: On Location – Green Bay all set up ready to go
On Location – Green Bay all set up ready to go For personal use only View full video on www.fireflymetals.com.au ASX FFM
Slide 15: Underground at Green Bay
Underground at Green Bay For personal use only Two styles of mineralisation • High-grade copper gold massive sulphide upper zone • Broad footwall copper rich zone ASX FFM View full video on www.fireflymetals.com.au
Slide 16: Significant Underground Infrastructure
Significant Underground Infrastructure For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 17: High-Grade Copper Gold Massive Sulphide Lodes
High-Grade Copper Gold Massive Sulphide Lodes Drill results for the high-grade copper For personal use only gold massive sulphide lodes ASX FFM View full video on www.fireflymetals.com.au
Slide 18: Large Scale Broad Copper Rich Footwall Zone
Large Scale Broad Copper Rich Footwall Zone For personal use only Drill results for the broad copper rich footwall zone ASX FFM View full video on www.fireflymetals.com.au
Slide 19: FireFly Investing in Exploration Development
FireFly Investing in Exploration Development 1,500m new development secures rapid resource growth and future ore haulage For personal use only 800m of 1,500m development completed already 4x drill platforms completed 4x drill rigs operating for resource growth ASX FFM View full video on www.fireflym
Slide 20: Growing the Resource with 100,000m of drilling
Growing the Resource with 100,000m of drilling Rapid low-cost Resource growth throughout 2024 and 2025 For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 21: Drilling Multiple Copper and Gold Lodes For Resource Growth
Drilling Multiple Copper and Gold Lodes For Resource Growth For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 22: Exceptional Drill Results Outside of Current Resource
Exceptional Drill Results Outside of Current Resource For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 23: Using Geophysics to Unlock New Discoveries
Using Geophysics to Unlock New Discoveries Drilling with DHEM to find repeat and parallel lodes adjacent to existing infrastructure For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 24: A Rare Combination of Scale, Grade and Growth
A Rare Combination of Scale, Grade and Growth Green Bay Copper Gold Project – A Company Making Project For personal use only ASX FFM View full video on www.fireflymetals.com.au
Slide 25: Exceptional Regional Discovery Potential
Exceptional Regional Discovery Potential Major landholder in a world-class copper gold VMS district For personal use only Numerous high priority targets Cu Significant Camp-Scale Land Holding within 25km radius of FireFly’s FireFly’s Ming Mine FireFly has recently acquired: Ming Mine Cu Cu Cu • Thre
Slide 26: Rapid Resource and Mine Growth Over Next Months
Rapid Resource and Mine Growth Over Next 18 Months Well-funded for significant velocity of news flow through 2024 - 2025 For personal use only Milestone1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 23 24 24 24 24 25 25 25 25 2024 – 2025 Key Deliverables 2024 – 2025 PROGRAM Green Bay Project Acquisition 15 Oct 2023 •
Slide 27: A Game Changing Catalyst Rich High-Grade Opportunity
A Game Changing Catalyst Rich High-Grade Opportunity Board & Management Team with a Proven Track Record of Creating Shareholder Wealth For personal use only Strong Cash Position of A$52 Million2 for Immediate Growth Throughout 2024-2025 GREEN BAY COPPER-GOLD • A fully operational underground mine in
Slide 28: Supplementary Information
Supplementary Information For personal use only • Appendix 1. Pickle Crow Gold Deposit 2.8Moz @ 7.2g/t Gold • Appendix 2. FireFly Metals Mineral Resources • Appendix 3. FireFly Green Bay Project further information • Appendix 4. 2023 Copper Production Data • Appendix 5. References ‘Green Bay Copper
Slide 29: Pickle Crow Gold Deposit – The Perfect Addition
Appendix 1 – Pickle Crow Gold Deposit – The Perfect Addition High Grade 2.8Moz @ 7.2 g/t Gold Resource and Growing For personal use only LOCATION THE ASSET – PICKLE CROW UPSIDE • Operating in a Tier 1 mining • High-grade historical gold • 2.8Moz @ 7.2g/t inferred gold jurisdiction, Ontario Canada pr
Slide 30: An Exceptional Asset in a World-Class Location
Appendix 1 – An Exceptional Asset in a World-Class Location Pickle Crow Gold Deposit is surrounded by World-Class Gold Mines For personal use only PICKLE CROW 2.8mOZ @ 7.2G/T Gold Resource ASX FFM
Slide 31: Significant Shallow Open Pit Potential
Appendix 1 – Significant Shallow Open Pit Potential For personal use only Significant Potential to Grow the 2.8Moz @ 7.2g/t Resource • Potential for Open Pit as well as Underground mining at the Pickle Crow Deposit • Significant proportion of resource shallow from surface • Over 1Moz above 0.5g/t in
Slide 32: Huge Discovery Potential - An Entire Mineral District
Appendix 1 - Huge Discovery Potential - An Entire Mineral District For personal use only EXCEPTIONAL UPSIDE • First time entire Pickle Crow district held by one company • Over 46km of strike to be tested • Regional systematic geochemical sampling underway • Low-cost discovery potential • Numerous hi
Slide 33: FireFly Metals Resources
Appendix 2 – FireFly Metals Resources For personal use only Mineral Resources – Green Bay Copper – Gold Project1 Measured Indicated Inferred TOTAL RESOURCE MING MINE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.71% 144kt 1.85% 284Kt 1.86% 120kt 1.81% 547kt Gol
Slide 34: Green Bay Project further information
Appendix 3 - Green Bay Project further information A Major VMS Copper-Gold Mineralised System DEPTH For personal use only Surface Portal High-Grade Massive Sulphide Shaft 630m (6mx3m) MING MINE RESOURCE 0m Starts from UNMINED & OPEN Zone UNMINED and OPEN: Untested 250m Starts from 250m below surface
Slide 35: A Major VMS Copper-Gold Mineralised System
A Major VMS Copper-Gold Mineralised System 30Mt resource with underground development & shaft & plenty of room to grow! DEPTH High-Grade Massive Sulphide For personal use only Shaft 630m (6mx3m) Surface Portal 0m MING MINE RESOURCE Upper Zones UNMINED: UNMINED & OPEN Starts from 250m below surface •
Slide 36: Consistent and Continuous Large Scale Ore Bodies
Consistent and Continuous Large Scale Ore Bodies Step change discoveries - Geophysical testing 2nd half 2024 For personal use only Unmined VMS Historical mined VMS Drill testing Unmined VMS High-Grade Massive Sulphide Upper Zones - Drill testing UNMINED 4.0m @ 9.2% CuEq (421C-2) 9.1m @ 7.8% CuEq (MM
Slide 37: Existing Infrastructure = Lower Capex and Rapid Start-up
Existing Infrastructure = Lower Capex and Rapid Start-up DEPTH Excellent Geotechnical For personal use only Surface Conditions 0m Portal 6m x 3m shaft to Upper FW Stope (unfired) 630m below surface (~750m below surface) in place Excellent Geotechnical 30Mt Resource starts Conditions just 250m below
Slide 38: Green Bay Project Exploration Targeting
Green Bay Project Exploration Targeting MING DEPOSIT MODEL HIGHLIGHTS EXCEPTIONAL EXPLORATION UPSIDE1 For personal use only Ming North 1806 Parallel VMS EXPLORATION OPPORTUNITY 1807 zones untested • Limited exploration has been conducted Ming South in the past 40 years – a key opportunity • Downhole
Slide 39: The Rapid Transformation of FireFly Metals
The Rapid Transformation of FireFly Metals Continued catalyst rich growth to unlock value for shareholders and stakeholders For personal use only Further FFM Results: VMS Results: Cu Au Re-assays First FFM Results: VMS • 9.1m @ 5.4% CuEq • 47.2m @ 4.7% Cu & 2.2g/t Au • 46.4m @ 5.6% CuEq Port Access
Slide 40: Nearby Little Deer Cu-Au Complex
Green Bay Project - Nearby Little Deer Cu-Au Complex An unrealised opportunity with significant growth upside For personal use only TWO HISTORICAL MINES WITH NO MODERN EXPLORATION • Little Deer and Whalesback deposits mined between 1960 and 1972 (historic production of 3.8Mt @ 1% Cu) Untested • Sign
Slide 41: Excellent Ground Conditions
Excellent Ground Conditions Low rock stress conditions allow for much deeper mining For personal use only Supported with existing decline, underground development & shaft ● The Mine is relatively shallow in comparison to other underground operations in Canada ● Low regional stress conditions allow f
Slide 42: Underground Mine is Ready and Fully Operational
Underground Mine is Ready and Fully Operational • Massive Sulphide Excellent Underground Conditions For personal use only Underground drilling ~30,000m completed High-Grade Copper-Gold (~15 metre wide development at 800 level) • Two drill rigs operating (simple resource growth) • Third & fourth dril
Slide 43: Green Bay Copper-Gold Highlights
Green Bay Copper-Gold Highlights (100% FFM Ownership) A low-cost acquisition that transforms FireFly into a leading ASX copper-gold developer For personal use only Upside Mines Resources Infrastructure Significant Resource Operationally ready UG High Grade Copper-Gold +A$250M of Infrastructure Growt
Slide 44: Permitting in Newfoundland & Labrador
Permitting in Newfoundland & Labrador Strong government support and leveraging existing permits to fast-track any future expansion For personal use only The Federal Environmental Assessment (EA) Process Impact Assessment Act 2019 • In Canada, approvals are Province-based, however for large- • The Fe
Slide 45: Copper – The Macro Landscape
Copper – The Macro Landscape Nearly twice the amount of copper mined in human history is required in the For personal use only next 27 years to achieve net zero by 20501 Global Copper Mining Issues ● Decreasing copper grades ● Reduced discovery rates ● Time and cost to production ● 700mt of Cu have
Slide 46: 2023 Copper Production Data
Appendix 4 – 2023 Copper Production Data 2023 Cu Metal For personal use only PROPERTY CURRENT OWNER SOURCE DATA PRODUCTION (Tonnes) Ant Hill Austral Resources 9,267 1. March 2023 Quarterly Report. https://www.australres.com/media/1273/20230414-ar1-austral-march-2023-quarterly-report.pdf?utm_source=a
Slide 47: 2023 Copper Production Data
Appendix 4 – 2023 Copper Production Data 2023 Cu For personal use only Metal PROPERTY CURRENT OWNER SOURCE DATA PRODUCTION (Tonnes) Sierra Gorda South 32 (45%) 64,400 1. March 2023 Quarterly Report. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02657109-6A1146280 2.
Slide 48: References
Appendix 5 - References: ‘ Green Bay Copper & Gold A potential company making project’ For personal use only Number FOOTNOTES Resources for Green Bay and McIlvenna Bay are calculated under the Canadian NI 43-101 standards and are regarded as Foreign Estimates. Resources for Cobar and Ernest Henry 1
Slide 49: External Company Resources & Reserves
Appendix 6- External Company Resources & Reserves Mineral Resources – Foran Mining McIlvenna Bay Project1 For personal use only Measured Indicated TOTAL M&I Inferred McIlvenna Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal McIlvenna Tonnes Grade Metal Copper - - 1.2 % 469kt 1.2 % 469kt Cop
Slide 50: External Company Resources & Reserves
Appendix 6- External Company Resources & Reserves For personal use only Mineral Resources – Metals Acquisition Corp. Cobar Project1 Measured Indicated Inferred Cobar Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 4.9% 500kt 4.5% 285kt 5.4% 196kt 10.1Mt 6.4Mt 3.6Mt Silver 19.0g/t 6.2
Slide 51: Company Resources
Appendix 6- Company Resources Mineral Resources – Evolution Mining Ernest Henry Project1 For personal use only Measured Indicated Inferred Ernest Henry Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.31% 458kt 1.29% 450kt 1.15% 363kt 35.0Mt 35.0Mt 31.5Mt Gold 0.75g/t 847koz 0.76g/t
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