Firetail brings Skyline and Canadian copper into full focus

Multiple batches of assays due soon from recent large-scale copper drill program at the Skyline project
Early exploration results put focus on Canadian territory as portfolio standout
Newfoundland and Labrador province fast becoming an exploration hot-spot

Special Report: Firetail Resources has assays in the rack as exploration fires at its Skyline copper project in Canada’s red-hot Newfoundland and Labrador province.

Since acquiring Skyline in June, Firetail Resources (ASX:FTL) has now appointed its technical team for on-ground exploration and acquired data and an adjacent land package to build its stretch of geological strike to 25km.

A high-resolution EM survey over 16km of that stretch and multiple batches of assays are awaited from the 5000m diamond drill program, now wrapped up on time and budget after confirming at least two distinctive high-grade trends within the mineralised corridor.

Firetail managing director Glenn Poole said that, in a short span of time, the company has completed multiple phases of high-impact exploration showing an enormous opportunity to expand the scale of the project and unlock Skyline’s full potential.

“Skyline is an exceptional growth and discovery opportunity in a tier-1 mining district which has all the ingredients to deliver enormous value for our shareholders,” Poole said.

“The exploration activities completed this year have provided us with the foundations to develop a multi-faceted targeting model for exploration in 2025.

Poole said a key component of an accelerated approach will utilise down-hole EM across all holes, providing the capacity to undertake far greater step-outs along strike and down-dip to directly target massive sulphide mineralisation.

“Meanwhile, the recent project-wide airborne EM survey – the first to be completed across the project – is expected to identify multiple targets along strike which are yet to be tested,” he said.

“The results of this survey are expected in the coming weeks and should provide us with our first clear picture of the emerging district-scale VMS potential of this exciting project.”

Canadian copper heats up

Neighbouring $660m market capper FireFly Metals (ASX:FFM) was the toast of the ASX on Tuesday after reeling in a ripper 86.3m at 3.7% copper hit, and newer entrants to the jurisdiction are making their own mark.

Somerset Minerals (ASX:SMM) also just settled in next to White Cliff Minerals (ASX:WCN) and some super high-grade rock chips in the area seeing promise of large-scale copper.

Skyline itself hosts a historic mine, which produced 100,000t of ore at grades of 3-12% copper, and more recent intercepts to the calibre of 29.0m at 5.25% to follow up in a suddenly hot jurisdiction.

Portfolio movement

With Skyline now set as its clear focus moving forward, Poole said it has provided the impetus to generate further value and monetise its Australian portfolio.

“We have prepared data rooms for the Paterson copper-gold-uranium project and Mt Slopeaway nickel-cobalt projects and have entered into discussions with interested parties,” he said.

“Our aim is to streamline our portfolio while providing further funding to advance the exploration at the Skyline copper project and unlock the full potential of the prospective 25km of strike length.”

This article was developed in collaboration with Firetail Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.