Firetail hits roll out the red metal at Skyline

High-grade Firetail assays extend mineralisation and growth potential
Previously untested core further expands mineralised intervals
Upcoming assays and survey data to drive aggressive exploration into the new year

Special Report: A fresh batch of assays grading up to 5.1% CuEq have extended high-grade mineralisation and put a spotlight on the growth potential of Firetail Resources’ flagship Skyline copper project.

The latest collection of assays from the recent 5000m drilling campaign undertaken by Firetail Resources (ASX:FTL) at the project, located in Canada’s exciting Newfoundland region, was headlined by an intercept of 23m at 3.7% copper equivalent (3.6% copper, 0.3% zinc, 4.3g/t silver).

Sampling of previously untested core from past operators has also significantly expanded the mineralised intervals, with the identification of shallow gold-bearing intervals outside the target corridor showing potential for more parallel mineralising sequences in line with the VMS deposit model.

Firetail is putting full focus on the Skyline project after early exploration confirmed two distinctive high-grade trends within the corridor and a large opportunity for expansion, a belief reinforced by the initial high-grade drill results.

“Our maiden drill program at Skyline continues to exceed expectations, with the thick, high-grade intercepts in the latest holes significantly expanding the known mineralisation and highlighting the enormous upside at the project,” managing director Glenn Poole said.

He said information gained from drilling, combined with EM surveys, will help refine the targeting approach and facilitate next-phase drilling in the near-mine environment and targeting extensions down-dip and along strike.

“In the meantime, re-sampling of historic drill core has reaffirmed the potential we see across the broader Skyline mineral system, adding meaningful thicknesses and grades to the known drill intercepts at a very low cost,” Poole noted.

“This shows the endowment and potential of the system and sets the stage for what should be a very exciting year ahead for Firetail.”

Poole added that work is continuing to evaluate potential of other economic minerals within the system, with the elevated gold providing evidence of an untargeted and untested formation.

“We will be actively pursuing this potential next year as we work to unlock the full potential of this district-scale VMS asset,” Poole said.

Significant new results include:

23.0m @ 3.7% CuEq (3.6% Cu, 0.3% Zn, 4.3g/t Ag) from 152.0m
2.40m @ 2.7% CuEq (2.4% Cu, 1.15% Zn, 8.6g/t Ag) (YH24-125)
12.8m @ 1.2% CuEq (0.9% Cu, 0.6% Zn, 6.4g/t Ag) from 145.5m; and
8.3m @ 1.0% CuEq (0.8% Cu, 0.5% Zn, 1.7g/t Ag) from 120.0m.

Provincial potential

FireFly Metals (ASX:FFM) and its 59Mt at 2% copper resource is currently the eminent ASX junior in Newfoundland and Labrador, but competition is heating up with the province’s potential for large-scale, high-grade copper in sight.

And while the red metal is the main prize, the province’s geological survey has noted an environment with potential for gold-endowed VMS deposits.

Given the blind nature of the district’s deposits, Firetail says results of an upcoming property-wide EM survey in the coming weeks will be crucial in driving an aggressive exploration strategy going into 2025.

Assays now due from another 17-holes will offer further insights into the project ahead of the next campaign, and news from other non-core projects will likely be about potential divestments as Firetail focuses its full attention on Skyline.

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.