Firefly Metals Ltd · ASX:FFM
Firefly Metals — Shareholder Meeting (November 2024)
41 slides from Firefly Metals's shareholder meeting presentation, Nov 19, 2024
Slide 1: High-Grade Copper and Gold - Annual General Meeting Presentation
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 42% increase to 59Mt for 1.2Mt contained metal at 2% copper
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 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 For personal use only 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 gold in Ontario, • • High grade copper and gold in Canada Management team with a Newfoundland Labrado
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 563.8M1 A$1.05 A$592M Management performance rights 30.8M2 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: Green Bay Copper-Gold Project: Our Competitive Advantages
Green Bay Copper-Gold Project (FireFly 100%) 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 130,000m drilling • Regional surface and
Slide 8: Newfoundland – A Maritime and Mining Provence
Newfoundland – A Maritime and Mining Provence 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 9: FireFly Metals Introduction Video
For personal use only FireFly Metals Introduction Video To view full video, click the link below: https://vimeo.com/994943848 ASX FFM
Slide 10: Large scale high-grade resource upgrade (42% increase)
Large scale high-grade resource upgrade (42% increase) with 40% in high confidence M&I category For personal use only MEASURED INDICATED INFERRED TOTAL RESOURCE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.7% 77kt 1.7% 328kt 1.7% 592kt 1.7% 997kt Gold 4.7Mt 0.
Slide 11: 42% Increase in Resource
42% Increase in Resource in less than 12 months VMS & Footwall Zones (FWZ) both remain open For personal use only Rapid low-cost Resource growth • Phase 1 Resource drilling started with 1x rig that ramped up to 4x rigs in 2024 • 40,000m drilled by FireFly in 2024 • Low-cost growth at only A$79/tonne
Slide 12: Large scale high-grade copper-gold Resource including the VMS zone
Large scale high-grade copper-gold Resource including the VMS zone of 6Mt @ 4.3% CuEq For personal use only Large-scale, high-grade and open • High-grade upper VMS zones now at 6Mt @ 4.3% CuEq and remain OPEN • FWZ is large scale and includes internal high-grade copper zones and remains OPEN • 750m
Slide 13: Low-cost step-out growth drilling underway
Low-cost step-out growth drilling underway And discovery drilling for new additional lodes For personal use only Continued rapid low-cost resource growth in 2024 & 25: • Phase 2 drilling underway with 4 x underground drill rigs: Step-out of high-grade VMS zones (drill platforms are ready with phas
Slide 14: Green Bay Copper & Gold - A Company Making Project
Green Bay Copper & Gold - A Company Making Project GREEN BAY McILVENNA BAY COBAR ERNEST HENRY For personal use only Location Newfoundland, Canada Saskatchewan, Canada NSW, Australia Queensland, Australia Stage Pre-Development Development Production Production Resource Tonnes1,2 59Mt Tonnes5 44.1Mt T
Slide 15: A District Scale VMS Camp
A DISTRICT SCALE VMS CAMP Multiple Walk Up Copper and Gold Targets For personal use only Multiple targets within only 25km of mine and infrastructure Refer to ASX release dated 22 August 2024 ASX FFM
Slide 16: 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 PROGRAM 2024 – 2025 Key Deliverables Green Bay Project Acquisition 15 Oct 2023 •
Slide 17: 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$88 Million2 for Immediate Growth Throughout 2024-2025 GREEN BAY COPPER-GOLD PROJECT • A fully operational underground
Slide 18: Supplementary Information
Supplementary Information For personal use only • Appendix 1. Pickle Crow Gold Deposit 2.8Moz @ 7.2g/t Gold • Appendix 2. Green Bay Mineral Resources • Appendix 3. FireFly Green Bay Project further information • Appendix 4. Learning From The Past: An Opportunity • Appendix 5: 2023 Copper Production
Slide 19: Appendix – 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 20: Appendix – 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 21: Appendix – 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 22: Appendix - 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 23: Appendix – Green Bay Mineral Resources
Appendix 2 – Green Bay Mineral Resources1 Ming Deposit Mineral Resource Estimate For personal use only MEASURED INDICATED INFERRED TOTAL RESOURCE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.7% 77kt 1.6% 266kt 1.7% 482kt 1.7% 825kt Gold 4.7Mt 0.3g/t 45koz 16.8
Slide 24: Appendix – FireFly Green Bay Virtual Site Tour
Appendix 3 – FireFly Green Bay Virtual Site Tour Project further information For personal use only View full video click link below: https://fireflymetals.com.au/green- bay-copper-gold-project/ ASX FFM
Slide 25: Appendix – Downhole Geophysics Points to New High-Grade Copper Zones
Appendix 3 – FireFly Green Bay Project further information Downhole Geophysics For personal use only Points to New High-Grade Copper Zones Strong DHEM (Down Hole Electro-Magnetic) results indicate new zones of mineralisation well beyond current drilling; ASX FFM
Slide 26: 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 27: 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 28: Consistent and Continuous Large Scale Mineralisation
Consistent and Continuous Large Scale Mineralisation 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
Slide 29: 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 30: Excellent Ground Conditions
Excellent Ground Conditions1 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
Slide 31: 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 32: Green Bay Project - 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 33: 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 34: Appendix – Learning From The Past: An Opportunity
Appendix 4 – Learning From The Past: An Opportunity GROWING THE RESOURCE AND OPERATING AT THE RIGHT SCALE • For personal use only Two key areas have prevented the past success of the Ming operation – Orebody definition and a high-cost structure driven by inappropriately sized infrastructure relative
Slide 35: Learning From The Past: An Opportunity
Learning From The Past: An Opportunity EXAMPLE OF POOR PRE-MINING DEFINITION DRILLING For personal use only Stope Cross Section 1 • The 760L Lower Footwall drive was mined prior to grade control drilling • In-drive drilling identified significant mineralisation in the 760L footwall originally not mo
Slide 36: Appendix – 2023 Copper Production Data
Appendix 5 – 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 37: Appendix – 2023 Copper Production Data
Appendix 5 – 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 38: Appendix - References: Green Bay Copper & Gold
Appendix 6 - References: ‘ Green Bay Copper & Gold - A Company Making Project’ For personal use only Number FOOTNOTES Resources for McIlvenna Bay are calculated under the Canadian NI 43-101 standards and are regarded as Foreign Estimates. Resources for Green Bay, Cobar and Ernest Henry 1 Projects ar
Slide 39: Appendix 7- External Company Resources & Reserves
Appendix 7- External Company Resources & Reserves Mineral Reserve Estimate– Mineral Resources – Foran Mining McIlvenna Bay Project1 Foran Mining McIlvenna Bay Project2,3 For personal use only Measured Indicated TOTAL M&I Inferred Proven Probable TOTAL MINERAL RESERVE McIlvenna McIlvenna McIlvenna To
Slide 40: Appendix – Supplementary Information for Excellent Ground Conditions
Appendix 8 – Supplementary Information for slide titled ‘ Excellent Ground Conditions’ PROPERTY LOCATION CURRENT OWNER SOURCE DATA For personal use only Alamos Gold Inc. website states YD is a gold mine. https://www.alamosgold.com/operations/producing-mines/young-davidson- Commodity Gold canada/defa
Slide 41: Appendix – Supplementary Information for Excellent Ground Conditions
Appendix 8 – Supplementary Information for slide titled ‘ Excellent Ground Conditions’ For personal use only PROPERTY LOCATION CURRENT OWNER SOURCE DATA Gold, Silver, Zinc, Agnico Eagle website, https://www.agnicoeagle.com/English/operations/operations/laronde/default.aspx Commodity Copper Project S