In November 2024, the Company announced the acquisition of the Tilt Cove exploration project from Signal Gold Inc. The project is located ~30km east of the Ming Mine.
The project covers an area of 115km2 on the eastern coastal volcano-sedimentary rocks of the Baie Verte peninsula.
The Tilt Cove property is highly prospective for volcanogenic massive sulphide (VMS) deposits similar to FireFly’s rapidly growing Ming Mine that has recently increased its Mineral Resource Estimate to 47.5Mt of Measured and Indicated Mineral Resources at 2.0% for 1,016Kt CuEq contained metal and 23.9Mt of Inferred Mineral Resources at 2.6% for 772Kt CuEq contained metal.
A key target within the acquisition area is the namesake Tilt Cove copper-gold VMS deposit, which was one the world’s largest copper mines in the late 19th Century. A total of ~170,000t of copper and 50,000oz of gold was first mined between 1864 and 1917, with operations briefly resuming between 1957 and 1967. Limited modern s exploration has been completed since.
FireFly has commenced exploration at the Tilt Cove Project as announced on 24 July 2025.
In 1983, Newmont Exploration conducted an electromagnetic survey in the Tilt Cove Project area and identified an extensive and unexplained conductive anomaly. FireFly has completed a detailed ground electromagnetic survey and confirmed the presence of this strong, large-scale conductive anomaly– refer image 3. Drill testing of the anomaly is planned for the latter part of CY2025.
A comprehensive lease-wide airborne VTEM and magnetic survey is being completed over the entire 115km2
Tilt Cove Project area in Q3 CY2025. This will be the first airborne geophysics conducted over the Tilt Cove Project area.
Image 1: FireFly Metals Green Bay Project Overview
Image 2: Historical photograph of the Tilt Cove mine in the late 1800’s. Source: Province of Newfoundland and Labrador archives.
Image 3: Isometric Image of Tilt Cove Copper-Gold Project area showing the large-scale conductor (red) identified by FireFly’s ground-based EM survey. This conductor is significant and potentially caused by copper-gold bearing sulphide mineralisation. These results confirm an anomaly earlier identified in a 1983 EM survey completed by Newmont Exploration. The anomaly has yet to be drill tested and will be the subject of initial drilling later in CY25
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