FireFly Metals Ltd (ASX, TSX: FFM) has made publicly available an independent Technical Report compliant with Canadian National Instrument NI 43-101, covering the Preliminary Economic Assessment and Mineral Resource Estimate for its Green Bay Ming Mine Copper-Gold Project in Newfoundland, Canada. The report, released on 22 September 2026, follows the Company's original PEA and resource announcement on 25 August 2026. The filing contains only immaterial updates to capital expenditure in the expansion case scenario, with no impact on the project's net present value calculation — a detail investors may view as reassuring given the scale of the resource.

Key Points

  • FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold developer focused on the Green Bay Copper-Gold Project in Newfoundland, Canada
  • The Company released its NI 43-101-compliant Technical Report on 22 September 2026, supporting the PEA and Mineral Resource Estimate first announced 25 August 2026
  • The Green Bay project holds 60.2 Mt of Measured and Indicated Mineral Resources at 2.43% CuEq and 23.5 Mt of Inferred Mineral Resources at 2.51% CuEq
  • Investors may watch for further resource expansion activity and development advancement at the Green Bay project

Technical Report Contains Immaterial Capital Expenditure Updates, NPV Unchanged

The Technical Report made available on 22 September 2026 reflects immaterial updates to capital expenditure figures relating to the expansion case scenario of the Green Bay Ming Mine Copper-Gold Project. The Company confirmed these updates do not affect the overall net present value calculation. The report was authorised for release by the Board of Directors and has been reviewed and approved for its scientific and technical content by Mr Juan Gutierrez, Group Chief Geologist at FireFly and a Qualified Person as defined under NI 43-101. The Company stated it is not aware of any new information materially affecting the original resource estimates.

Green Bay Copper-Gold Project Resource Base Supports High-Grade, Long-Life Ambitions

The Green Bay Copper-Gold Project, comprising the Ming Deposit and the Little Deer Deposit in Newfoundland, underpins FireFly's development strategy. Combined Measured and Indicated Mineral Resources stand at 60.2 Mt at 2.43% copper equivalent, containing 1,464 Kt CuEq, with Inferred resources of 23.5 Mt at 2.51% CuEq for 592 Kt CuEq. The PEA outlined a pathway to produce 100 kt of copper per annum, with the Company describing the potential operation as high-grade, low-cost, and long-life. These estimates were prepared in accordance with both the JORC Code (2012 Edition) and NI 43-101 standards.

Metal Equivalent Assumptions Anchored to Mid-2026 Commodity Prices

Metal equivalent calculations for the combined Green Bay project used CIBC long-term mean commodity prices as at 1 July 2026: a copper price of US$10,626/t, gold price of US$3,587/oz, and silver price of US$50.22/oz. Metallurgical recoveries were set at 95% for copper and 85% for both gold and silver, consistent with historical production performance at the Ming Mine and additional metallurgical test work. The Company confirmed all material assumptions underpinning prior resource estimates continue to apply and have not materially changed. The immediate share price impact was not clear from available public information.