Firetail spots up large-scale Canadian copper targets

• Firetail EM survey delineates five high-priority EM targets at the Skyline project
• First survey of its kind over the property despite its proven use in locating regional VMS deposits
• Early exploration had already shaped Skyline into FTL’s flagship project

Special Report: Firetail Resources has identified multiple exciting electromagnetic conductors over a considerable strike length, adding significant exploration momentum to its Skyline copper project in the Newfoundland region of Canada.

The Firetail Resources (ASX:FTL) project produced high-grade copper from the small York Harbour mine over a century ago but has never before been subject to modern EM surveys.

And the results have now yielded five new priority targets coinciding with mapped occurrences of copper-bearing ore chalcopyrite, despite weather limiting the survey to two thirds of the original plan.

Firetail managing director Glenn Poole said the results exceeded expectations in delivering a series of compelling, large-scale targets.

“Our new understanding of the mineral and rock characteristics across the Skyline Project has significantly advanced our understanding regarding the geophysical and geochemical signatures and targeting methodologies for the potentially mineralised zones,” Poole said.

“The Veyron Target is shallow, commencing from 120m, and consists of two substantial EM conductor plates, well within striking distance of high-resolution ground-based geophysics.

“Our next steps will be to utilise ground-based geophysics to refine the geometry and extents of the targets, followed by targeted drill testing.”

Poole noted the Maranello, Countach, and Cayman targets are located along the opposing limb of the fold to the project’s York Harbour Mine Sequence, with the Volante target sitting along strike and in the same stratigraphic position.

“These EM conductor targets also warrant further mapping, geochemical sampling and follow-up geophysical surveys,” he said.

“This is a very exciting breakthrough for our efforts to unlock the broader potential of the Skyline project.

“And it is envisaged we will extend the airborne EM survey next quarter to cover the remainder of the Skyline tenure with the potential to add further targets to the six we have recently identified.”

He added the next few months will be an exciting time for shareholders in a next phase of growth advancing the high-priority targets with modern, systematic exploration.

Ascending Skyline

Firetail acquired Skyline from a company shifting its focus towards rare earth, and early results have quickly turned the project into a flagship asset.

An initial 5000m drilling campaign returned a number of high-grade results which set the scene for growth but, given the blind nature of the region’s VMS deposits, FTL believed the results of this EM survey would be crucial to define its strategy.

Stockhead contributor Kristie Batten has noted investors’ belief in the Newfoundland region’s promise for high-grade copper, and that Firetail’s property remained remarkably unexplored.

Firetail entered a trading halt shortly after announcing the EM survey results, and will likely be soon raising the cash to advance its next round of exploration

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.