Economic study demonstrates scale, grade, long life, growth potential and robust financial returns
Original announcement by globenewswire on
- Company
- FireFly Metals Limited
- Ticker
- FFM
- Exchange
- Unavailable
- Region
- Newfoundland and Labrador, Canada
- Primary commodity
- Copper
- Secondary commodities
- Gold, Silver
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-12 02:07:11 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
FireFly Metals Limited announced a positive Preliminary Economic Assessment (PEA) and an updated Mineral Resource Estimate (MRE) for its Green Bay Ming Mine Copper-Gold Project in Canada. The MRE now stands at 60.2Mt @ 2.4% CuEq in Measured and Indicated categories, representing significant growth and higher confidence. The PEA demonstrates robust economics for both 1.8Mtpa and 4.6Mtpa production scenarios, with strong NPVs, IRRs, and high metallurgical recoveries for copper, gold, and silver.
Reasoning: The announcement details a substantial update to the Mineral Resource Estimate, showing significant growth in higher-confidence categories and grades, particularly at the Ming Deposit. This underpins a highly positive Preliminary Economic Assessment with strong financial returns and long mine life projections. High metallurgical recoveries further de-risk the project.
Positive factors
- Significant increase in Measured and Indicated resources at Ming Deposit
- High-grade core zone identified and expanded
- Robust PEA results with strong NPV and IRR for both production scenarios
- High copper and precious metal recoveries demonstrated
- Project located in a tier-one mining jurisdiction with existing infrastructure
- Strong financial position and funding pathway outlined
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 50
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The Ming Deposit M&I resource increased by 21% since the previous updates, indicating a significant upgrade in resource confidence and quantity.
Evidence · text
“Infill drilling completed at Ming resulted in the M&I increasing by 21% since the previous updates.”
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The Ming Deposit M&I resource increased by 21% since the previous updates, demonstrating significant tonnage growth.
Evidence · text
“Infill drilling completed at Ming resulted in the M&I increasing by 21% since the previous updates.”
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: Copper equivalent grade also increased by 22% driven primarily by infill drilling of the high-grade core and high-grade VMS zones.
Evidence · text
“Copper equivalent grade also increased by 22% driven primarily by infill drilling of the high-grade core and high-grade VMS zones.”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The M&I resource increased by 21% and CuEq grade increased by 22%, indicating substantial growth in contained metal.
Evidence · text
“Infill drilling completed at Ming resulted in the M&I increasing by 21% since the previous updates. Copper equivalent grade also increased by 22%”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The announcement explicitly lists multiple Qualified Persons responsible for the MRE and PEA, including Brian Thomas (P.Geo.) for the Ming Deposit MRE.
Evidence · text
“Qualified Person Company Qualification Responsibility Brian Thomas WSP Canada Inc. P.Geo. Ming Deposit Mineral Resource Estimate”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Ming Deposit August 2026 MRE was prepared in accordance with the JORC Code (2012 Edition).
Evidence · text
“The Ming Deposit August 2026 MRE (Table 1) was prepared in accordance with the JORC Code (2012 Edition)”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Ming Deposit August 2026 MRE was prepared in accordance with NI 43-101.
Evidence · text
“The Ming Deposit August 2026 MRE (Table 1) was prepared in accordance with the JORC Code (2012 Edition) and NI 43-101”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Mineral Resources have been reported at a 1.0% copper cut-off grade.
Evidence · text
“Mineral Resources have been reported at a 1.0% copper cut-off grade.”
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The Ming Deposit and Green Bay total MRE include a Measured category of 3.5 Mt.
Evidence · table
“Measured”
Context: 3.5
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The Ming Deposit, Little Deer, and Green Bay total MRE include substantial Indicated resources.
Evidence · table
“Indicated”
Context: 53.8
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The Ming Deposit, Little Deer, and Green Bay total MRE include Inferred resources.
Evidence · table
“Inferred”
Context: 17.3
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated Mineral Resource Estimate for the Green Bay Ming Mine Copper-Gold Project.
Evidence · text
“updated Mineral Resource Estimate ( MRE ) for the Green Bay Ming Mine Copper-Gold Project”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Copper recovery is anticipated to be >98%, which is exceptional for the commodity and processing route.
Evidence · text
“recoveries are anticipated to be >98% for copper and >80% on precious metals (gold and silver).”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: Extensive metallurgical testwork completed at SGS Lakefield in Canada shows the ore-grade material has favourable physical properties and is amenable to high recoveries.
Evidence · text
“Extensive metallurgical testwork completed at SGS Lakefield in Canada shows the ore-grade material has favourable physical properties (strength, grindability, abrasiveness etc.) and is amenable to high recoveries of copper and precious metals via industry standard processes”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The proposed processing plant utilises a standard simple flow sheet with comminution through a jaw crusher, SAG mill, and Ball Mill, followed by two-stage flotation.
Evidence · text
“The proposed processing plant utilises a standard simple flow sheet to extract copper and precious metals into a concentrate. Comminution is achieved through a standard jaw crusher followed by a Semi Autogenous Grinding ( SAG ) mill and a Ball Mill. Two stage flotation (rougher and cleaner)”
Extracted facts
Stored fact records: 50. Some facts used in scoring do not have a stored record.
Resource Estimates (44)
measuredMing Deposit · copperTonnes: 3500000Grade: 1.5Grade Unit: %Contained Metal: 52Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:54a50dc55b4ede67619f
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Grade
- 1.5
- Grade Unit
- %
- Contained Metal
- 52
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This Measured resource provides a high-confidence base for mine planning with a solid copper grade.
Positive factors
- High confidence Measured category
- Good copper grade for a VMS deposit
Evidence · table
“1.5”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredMing Deposit · goldTonnes: 3500000Grade: 0.2Grade Unit: g/tContained Metal: 20Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:54a50dc55b4ede67619f
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Grade
- 0.2
- Grade Unit
- g/t
- Contained Metal
- 20
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold grade contributes to the overall economics as a byproduct in the high-confidence Measured category.
Positive factors
- High confidence Measured category
- Gold as a valuable byproduct
Evidence · table
“0.2”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredMing Deposit · silverTonnes: 3500000Grade: 1.3Grade Unit: g/tContained Metal: 147Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:54a50dc55b4ede67619f
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 147
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver grade contributes to the overall economics as a byproduct in the high-confidence Measured category.
Positive factors
- High confidence Measured category
- Silver as a valuable byproduct
Evidence · table
“1.3”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredMing Deposit · copperTonnes: 3500000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:54a50dc55b4ede67619f
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 1.67
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The copper equivalent grade for the Measured resource indicates strong overall value for this high-confidence material.
Positive factors
- High confidence Measured category
- Good copper equivalent grade
Evidence · table
“1.67”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedMing Deposit · copperTonnes: 53800000Grade: 1.9Grade Unit: %Contained Metal: 1041Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:b5647ee72573d6670b84
Resource Data
- Category
- indicated
- Tonnes
- 53800000
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 1041
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This large Indicated resource with a high copper grade and substantial contained metal forms the backbone of the project's economic potential.
Positive factors
- Large tonnage in Indicated category
- Strong copper grade
- Significant contained copper metal
Evidence · table
“1.9”
Context: 53.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMing Deposit · goldTonnes: 53800000Grade: 0.5Grade Unit: g/tContained Metal: 878Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:b5647ee72573d6670b84
Resource Data
- Category
- indicated
- Tonnes
- 53800000
- Grade
- 0.5
- Grade Unit
- g/t
- Contained Metal
- 878
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial gold content in the Indicated resource significantly enhances the project's overall value.
Positive factors
- Significant contained gold metal
- Valuable byproduct in large Indicated resource
Evidence · table
“0.5”
Context: 53.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMing Deposit · silverTonnes: 53800000Grade: 4.5Grade Unit: g/tContained Metal: 7707Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:b5647ee72573d6670b84
Resource Data
- Category
- indicated
- Tonnes
- 53800000
- Grade
- 4.5
- Grade Unit
- g/t
- Contained Metal
- 7707
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial silver content in the Indicated resource significantly enhances the project's overall value.
Positive factors
- Significant contained silver metal
- Valuable byproduct in large Indicated resource
Evidence · table
“4.5”
Context: 53.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMing Deposit · copperTonnes: 53800000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:b5647ee72573d6670b84
Resource Data
- Category
- indicated
- Tonnes
- 53800000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 2.49
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The high copper equivalent grade for the large Indicated resource highlights the strong overall economic potential of this material.
Positive factors
- High copper equivalent grade
- Large tonnage in Indicated category
Evidence · table
“2.49”
Context: 53.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedMing Deposit · copperTonnes: 57300000Grade: 1.9Grade Unit: %Contained Metal: 1093Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:1c970b0dae2cd9d16a59
Resource Data
- Category
- indicated
- Tonnes
- 57300000
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 1093
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial total Measured and Indicated resource with high copper grade and contained metal provides a robust foundation for project development.
Positive factors
- Very large total M&I tonnage
- Strong copper grade
- Significant contained copper metal
Evidence · table
“1.9”
Context: 57.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMing Deposit · goldTonnes: 57300000Grade: 0.5Grade Unit: g/tContained Metal: 899Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:1c970b0dae2cd9d16a59
Resource Data
- Category
- indicated
- Tonnes
- 57300000
- Grade
- 0.5
- Grade Unit
- g/t
- Contained Metal
- 899
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial gold content in the total M&I resource significantly enhances the project's overall value.
Positive factors
- Significant contained gold metal
- Valuable byproduct in large M&I resource
Evidence · table
“0.5”
Context: 57.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMing Deposit · silverTonnes: 57300000Grade: 4.3Grade Unit: g/tContained Metal: 7853Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:1c970b0dae2cd9d16a59
Resource Data
- Category
- indicated
- Tonnes
- 57300000
- Grade
- 4.3
- Grade Unit
- g/t
- Contained Metal
- 7853
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial silver content in the total M&I resource significantly enhances the project's overall value.
Positive factors
- Significant contained silver metal
- Valuable byproduct in large M&I resource
Evidence · table
“4.3”
Context: 57.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMing Deposit · copperTonnes: 57300000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:1c970b0dae2cd9d16a59
Resource Data
- Category
- indicated
- Tonnes
- 57300000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 2.44
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The high copper equivalent grade for the substantial total M&I resource highlights the strong overall economic potential of this material.
Positive factors
- High copper equivalent grade
- Very large total M&I tonnage
Evidence · table
“2.44”
Context: 57.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredMing Deposit · copperTonnes: 17300000Grade: 2Grade Unit: %Contained Metal: 344Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:cb2a3d6c08fceed7f746
Resource Data
- Category
- inferred
- Tonnes
- 17300000
- Grade
- 2
- Grade Unit
- %
- Contained Metal
- 344
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This Inferred resource provides significant upside potential with a good copper grade, though it requires further drilling to upgrade confidence.
Positive factors
- Good copper grade in Inferred category
- Potential for future conversion to higher confidence categories
Negative factors
- Lower confidence Inferred category
Evidence · table
“2.0”
Context: 17.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredMing Deposit · goldTonnes: 17300000Grade: 0.7Grade Unit: g/tContained Metal: 404Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:cb2a3d6c08fceed7f746
Resource Data
- Category
- inferred
- Tonnes
- 17300000
- Grade
- 0.7
- Grade Unit
- g/t
- Contained Metal
- 404
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold content in the Inferred resource adds to the project's upside potential, pending further definition.
Positive factors
- Good gold grade in Inferred category
- Potential for future conversion
Negative factors
- Lower confidence Inferred category
Evidence · table
“0.7”
Context: 17.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredMing Deposit · silverTonnes: 17300000Grade: 6.3Grade Unit: g/tContained Metal: 3522Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:cb2a3d6c08fceed7f746
Resource Data
- Category
- inferred
- Tonnes
- 17300000
- Grade
- 6.3
- Grade Unit
- g/t
- Contained Metal
- 3522
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver content in the Inferred resource adds to the project's upside potential, pending further definition.
Positive factors
- Good silver grade in Inferred category
- Potential for future conversion
Negative factors
- Lower confidence Inferred category
Evidence · table
“6.3”
Context: 17.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredMing Deposit · copperTonnes: 17300000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:cb2a3d6c08fceed7f746
Resource Data
- Category
- inferred
- Tonnes
- 17300000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 2.77
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The high copper equivalent grade in the Inferred resource indicates strong potential value, subject to further drilling and confidence upgrade.
Positive factors
- High copper equivalent grade in Inferred category
- Potential for future conversion
Negative factors
- Lower confidence Inferred category
Evidence · table
“2.77”
Context: 17.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedLittle Deer · copperTonnes: 2900000Grade: 2.1Grade Unit: %Contained Metal: 62Contained Unit: ktView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Grade
- 2.1
- Grade Unit
- %
- Contained Metal
- 62
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This Indicated resource provides a solid, high-grade copper component, though it represents no new information.
Positive factors
- Good copper grade in Indicated category
Negative factors
- Resource remains unchanged from previous MRE
Evidence · table
“2.1”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLittle Deer · goldTonnes: 2900000Grade: 0.1Grade Unit: g/tContained Metal: 9Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Grade
- 0.1
- Grade Unit
- g/t
- Contained Metal
- 9
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold content is minor and unchanged, contributing little new value.
Positive factors
- Gold as a byproduct
Negative factors
- Low gold grade
- Resource remains unchanged from previous MRE
Evidence · table
“0.1”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLittle Deer · silverTonnes: 2900000Grade: 3.4Grade Unit: g/tContained Metal: 320Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Grade
- 3.4
- Grade Unit
- g/t
- Contained Metal
- 320
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver content is a minor byproduct and unchanged, contributing little new value.
Positive factors
- Silver as a byproduct
Negative factors
- Resource remains unchanged from previous MRE
Evidence · table
“3.4”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLittle Deer · copperTonnes: 2900000View all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Metal Eq. Grade
- 2.3
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The copper equivalent grade for this Indicated resource is solid, but it represents no new information.
Positive factors
- Good copper equivalent grade
Negative factors
- Resource remains unchanged from previous MRE
Evidence · table
“2.3”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedLittle Deer · copperTonnes: 2900000Grade: 2.1Grade Unit: %Contained Metal: 62Contained Unit: ktView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Grade
- 2.1
- Grade Unit
- %
- Contained Metal
- 62
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This M&I resource provides a solid, high-grade copper component, though it represents no new information.
Positive factors
- Good copper grade in M&I category
Negative factors
- Resource remains unchanged from previous MRE
Evidence · table
“2.1”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLittle Deer · goldTonnes: 2900000Grade: 0.1Grade Unit: g/tContained Metal: 9Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Grade
- 0.1
- Grade Unit
- g/t
- Contained Metal
- 9
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold content is minor and unchanged, contributing little new value.
Positive factors
- Gold as a byproduct
Negative factors
- Low gold grade
- Resource remains unchanged from previous MRE
Evidence · table
“0.1”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLittle Deer · silverTonnes: 2900000Grade: 3.4Grade Unit: g/tContained Metal: 320Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Grade
- 3.4
- Grade Unit
- g/t
- Contained Metal
- 320
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver content is a minor byproduct and unchanged, contributing little new value.
Positive factors
- Silver as a byproduct
Negative factors
- Resource remains unchanged from previous MRE
Evidence · table
“3.4”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLittle Deer · copperTonnes: 2900000View all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:4950ab1008272a03e650
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Metal Eq. Grade
- 2.3
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The copper equivalent grade for this M&I resource is solid, but it represents no new information.
Positive factors
- Good copper equivalent grade
Negative factors
- Resource remains unchanged from previous MRE
Evidence · table
“2.3”
Context: 2.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredLittle Deer · copperTonnes: 6200000Grade: 1.8Grade Unit: %Contained Metal: 110Contained Unit: ktView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:2eb71e5ba48ca773283a
Resource Data
- Category
- inferred
- Tonnes
- 6200000
- Grade
- 1.8
- Grade Unit
- %
- Contained Metal
- 110
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This Inferred resource provides upside potential with a good copper grade, but it is unchanged and requires further drilling.
Positive factors
- Good copper grade in Inferred category
Negative factors
- Lower confidence Inferred category
- Resource remains unchanged from previous MRE
Evidence · table
“1.8”
Context: 6.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLittle Deer · goldTonnes: 6200000Grade: 0.1Grade Unit: g/tContained Metal: 10Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:2eb71e5ba48ca773283a
Resource Data
- Category
- inferred
- Tonnes
- 6200000
- Grade
- 0.1
- Grade Unit
- g/t
- Contained Metal
- 10
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold content is minor and unchanged, contributing little new value.
Negative factors
- Low gold grade
- Lower confidence Inferred category
- Resource remains unchanged from previous MRE
Evidence · table
“0.1”
Context: 6.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLittle Deer · silverTonnes: 6200000Grade: 2.2Grade Unit: g/tContained Metal: 430Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:2eb71e5ba48ca773283a
Resource Data
- Category
- inferred
- Tonnes
- 6200000
- Grade
- 2.2
- Grade Unit
- g/t
- Contained Metal
- 430
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver content is a minor byproduct and unchanged, contributing little new value.
Negative factors
- Lower confidence Inferred category
- Resource remains unchanged from previous MRE
Evidence · table
“2.2”
Context: 6.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLittle Deer · copperTonnes: 6200000View all detailsHide details
Identity
- Project
- Little Deer
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:2eb71e5ba48ca773283a
Resource Data
- Category
- inferred
- Tonnes
- 6200000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-01
Metal Equivalent
- Metal Eq. Grade
- 1.8
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The copper equivalent grade for this Inferred resource is solid, but it is unchanged and requires further drilling.
Positive factors
- Good copper equivalent grade
Negative factors
- Lower confidence Inferred category
- Resource remains unchanged from previous MRE
Evidence · table
“1.8”
Context: 6.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
measuredGreen Bay · copperTonnes: 3500000Grade: 1.5Grade Unit: %Contained Metal: 52Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:9b0cbb888cc7f7e3c747
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Grade
- 1.5
- Grade Unit
- %
- Contained Metal
- 52
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This Measured resource provides a high-confidence base for mine planning with a solid copper grade.
Positive factors
- High confidence Measured category
- Good copper grade for a VMS deposit
Evidence · table
“1.5”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredGreen Bay · goldTonnes: 3500000Grade: 0.2Grade Unit: g/tContained Metal: 20Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:9b0cbb888cc7f7e3c747
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Grade
- 0.2
- Grade Unit
- g/t
- Contained Metal
- 20
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold grade contributes to the overall economics as a byproduct in the high-confidence Measured category.
Positive factors
- High confidence Measured category
- Gold as a valuable byproduct
Evidence · table
“0.2”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredGreen Bay · silverTonnes: 3500000Grade: 1.3Grade Unit: g/tContained Metal: 147Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:9b0cbb888cc7f7e3c747
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 147
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver grade contributes to the overall economics as a byproduct in the high-confidence Measured category.
Positive factors
- High confidence Measured category
- Silver as a valuable byproduct
Evidence · table
“1.3”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredGreen Bay · copperTonnes: 3500000View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:9b0cbb888cc7f7e3c747
Resource Data
- Category
- measured
- Tonnes
- 3500000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 1.67
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The copper equivalent grade for the Measured resource indicates strong overall value for this high-confidence material.
Positive factors
- High confidence Measured category
- Good copper equivalent grade
Evidence · table
“1.67”
Context: 3.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGreen Bay · copperTonnes: 56700000Grade: 1.9Grade Unit: %Contained Metal: 1103Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:db46ed3379618e6f29ca
Resource Data
- Category
- indicated
- Tonnes
- 56700000
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 1103
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This large Indicated resource with a high copper grade and substantial contained metal forms the backbone of the project's economic potential.
Positive factors
- Large tonnage in Indicated category
- Strong copper grade
- Significant contained copper metal
Evidence · table
“1.9”
Context: 56.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGreen Bay · goldTonnes: 56700000Grade: 0.5Grade Unit: g/tContained Metal: 887Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:db46ed3379618e6f29ca
Resource Data
- Category
- indicated
- Tonnes
- 56700000
- Grade
- 0.5
- Grade Unit
- g/t
- Contained Metal
- 887
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial gold content in the Indicated resource significantly enhances the project's overall value.
Positive factors
- Significant contained gold metal
- Valuable byproduct in large Indicated resource
Evidence · table
“0.5”
Context: 56.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGreen Bay · silverTonnes: 56700000Grade: 4.4Grade Unit: g/tContained Metal: 8027Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:db46ed3379618e6f29ca
Resource Data
- Category
- indicated
- Tonnes
- 56700000
- Grade
- 4.4
- Grade Unit
- g/t
- Contained Metal
- 8027
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial silver content in the Indicated resource significantly enhances the project's overall value.
Positive factors
- Significant contained silver metal
- Valuable byproduct in large Indicated resource
Evidence · table
“4.4”
Context: 56.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGreen Bay · copperTonnes: 56700000View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:db46ed3379618e6f29ca
Resource Data
- Category
- indicated
- Tonnes
- 56700000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 2.48
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The high copper equivalent grade for the large Indicated resource highlights the strong overall economic potential of this material.
Positive factors
- High copper equivalent grade
- Large tonnage in Indicated category
Evidence · table
“2.48”
Context: 56.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGreen Bay · copperTonnes: 60200000Grade: 1.9Grade Unit: %Contained Metal: 1155Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:7c6011c27cf9033928ed
Resource Data
- Category
- indicated
- Tonnes
- 60200000
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 1155
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial total Measured and Indicated resource with high copper grade and contained metal provides a robust foundation for project development.
Positive factors
- Very large total M&I tonnage
- Strong copper grade
- Significant contained copper metal
Evidence · table
“1.9”
Context: 60.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGreen Bay · goldTonnes: 60200000Grade: 0.5Grade Unit: g/tContained Metal: 908Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:7c6011c27cf9033928ed
Resource Data
- Category
- indicated
- Tonnes
- 60200000
- Grade
- 0.5
- Grade Unit
- g/t
- Contained Metal
- 908
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial gold content in the total M&I resource significantly enhances the project's overall value.
Positive factors
- Significant contained gold metal
- Valuable byproduct in large M&I resource
Evidence · table
“0.5”
Context: 60.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGreen Bay · silverTonnes: 60200000Grade: 4.2Grade Unit: g/tContained Metal: 8173Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:7c6011c27cf9033928ed
Resource Data
- Category
- indicated
- Tonnes
- 60200000
- Grade
- 4.2
- Grade Unit
- g/t
- Contained Metal
- 8173
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The substantial silver content in the total M&I resource significantly enhances the project's overall value.
Positive factors
- Significant contained silver metal
- Valuable byproduct in large M&I resource
Evidence · table
“4.2”
Context: 60.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGreen Bay · copperTonnes: 60200000View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:7c6011c27cf9033928ed
Resource Data
- Category
- indicated
- Tonnes
- 60200000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 2.43
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The high copper equivalent grade for the substantial total M&I resource highlights the strong overall economic potential of this material.
Positive factors
- High copper equivalent grade
- Very large total M&I tonnage
Evidence · table
“2.43”
Context: 60.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredGreen Bay · copperTonnes: 23500000Grade: 1.9Grade Unit: %Contained Metal: 454Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:afef4383342b0ec14453
Resource Data
- Category
- inferred
- Tonnes
- 23500000
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 454
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: This Inferred resource provides significant upside potential with a good copper grade, though it requires further drilling to upgrade confidence.
Positive factors
- Good copper grade in Inferred category
- Potential for future conversion to higher confidence categories
Negative factors
- Lower confidence Inferred category
Evidence · table
“1.9”
Context: 23.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredGreen Bay · goldTonnes: 23500000Grade: 0.6Grade Unit: g/tContained Metal: 414Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:afef4383342b0ec14453
Resource Data
- Category
- inferred
- Tonnes
- 23500000
- Grade
- 0.6
- Grade Unit
- g/t
- Contained Metal
- 414
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The gold content in the Inferred resource adds to the project's upside potential, pending further definition.
Positive factors
- Good gold grade in Inferred category
- Potential for future conversion
Negative factors
- Lower confidence Inferred category
Evidence · table
“0.6”
Context: 23.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredGreen Bay · silverTonnes: 23500000Grade: 5.2Grade Unit: g/tContained Metal: 3952Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:afef4383342b0ec14453
Resource Data
- Category
- inferred
- Tonnes
- 23500000
- Grade
- 5.2
- Grade Unit
- g/t
- Contained Metal
- 3952
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The silver content in the Inferred resource adds to the project's upside potential, pending further definition.
Positive factors
- Good silver grade in Inferred category
- Potential for future conversion
Negative factors
- Lower confidence Inferred category
Evidence · table
“5.2”
Context: 23.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredGreen Bay · copperTonnes: 23500000View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Brian Thomas, Paul Palmer, Augustine Simbanegavi
- Resource group id
- resource:afef4383342b0ec14453
Resource Data
- Category
- inferred
- Tonnes
- 23500000
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2026-08-01
Metal Equivalent
- Metal Eq. Grade
- 2.51
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- WSP Canada Inc.
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The high copper equivalent grade in the Inferred resource indicates strong potential value, subject to further drilling and confidence upgrade.
Positive factors
- High copper equivalent grade in Inferred category
- Potential for future conversion
Negative factors
- Lower confidence Inferred category
Evidence · table
“2.51”
Context: 23.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (6)
pilot plantGreen Bay · copperRecovery: 98.2 %View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- standard jaw crusher followed by a Semi Autogenous Grinding (SAG) mill and a Ball Mill. Two stage flotation (rougher and cleaner) provide exceptional recoveries and production of a high-grade concentrate for shipping (21-28% Cu, 6-12g/t Au). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site.
Recovery
- Recovery
- 98.2 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Lakefield
- Consultant
- Ausenco
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The very high copper recovery demonstrates excellent metallurgical performance for the 1.8Mtpa scenario, significantly de-risking the project.
Positive factors
- Exceptional copper recovery
- Industry standard processing route
- Pilot plant scale implied
Evidence · table
“98.2”
Context: Copper Recovery
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.2% is at or above the exceptional band (92%)
pilot plantGreen Bay · goldRecovery: 81.3 %View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- standard jaw crusher followed by a Semi Autogenous Grinding (SAG) mill and a Ball Mill. Two stage flotation (rougher and cleaner) provide exceptional recoveries and production of a high-grade concentrate for shipping (21-28% Cu, 6-12g/t Au). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site.
Recovery
- Recovery
- 81.3 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Lakefield
- Consultant
- Ausenco
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The strong gold recovery contributes significantly to the project's economics as a valuable byproduct for the 1.8Mtpa scenario.
Positive factors
- Strong gold recovery
- Industry standard processing route
- Pilot plant scale implied
Evidence · table
“81.3”
Context: Gold Recovery
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
pilot plantGreen Bay · silverRecovery: 84.8 %View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- standard jaw crusher followed by a Semi Autogenous Grinding (SAG) mill and a Ball Mill. Two stage flotation (rougher and cleaner) provide exceptional recoveries and production of a high-grade concentrate for shipping (21-28% Cu, 6-12g/t Au). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site.
Recovery
- Recovery
- 84.8 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Lakefield
- Consultant
- Ausenco
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The strong silver recovery contributes significantly to the project's economics as a valuable byproduct for the 1.8Mtpa scenario.
Positive factors
- Strong silver recovery
- Industry standard processing route
- Pilot plant scale implied
Evidence · table
“84.8”
Context: Silver Recovery
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
pilot plantGreen Bay · copperRecovery: 98.1 %View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- standard jaw crusher followed by a Semi Autogenous Grinding (SAG) mill and a Ball Mill. Two stage flotation (rougher and cleaner) provide exceptional recoveries and production of a high-grade concentrate for shipping (21-28% Cu, 6-12g/t Au). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site.
Recovery
- Recovery
- 98.1 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Lakefield
- Consultant
- Ausenco
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The very high copper recovery demonstrates excellent metallurgical performance for the 4.6Mtpa scenario, significantly de-risking the project.
Positive factors
- Exceptional copper recovery
- Industry standard processing route
- Pilot plant scale implied
Evidence · table
“98.1”
Context: Copper Recovery
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.1% is at or above the exceptional band (92%)
pilot plantGreen Bay · goldRecovery: 80.1 %View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- standard jaw crusher followed by a Semi Autogenous Grinding (SAG) mill and a Ball Mill. Two stage flotation (rougher and cleaner) provide exceptional recoveries and production of a high-grade concentrate for shipping (21-28% Cu, 6-12g/t Au). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site.
Recovery
- Recovery
- 80.1 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Lakefield
- Consultant
- Ausenco
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The strong gold recovery contributes significantly to the project's economics as a valuable byproduct for the 4.6Mtpa scenario.
Positive factors
- Strong gold recovery
- Industry standard processing route
- Pilot plant scale implied
Evidence · table
“80.1”
Context: Gold Recovery
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
pilot plantGreen Bay · silverRecovery: 84.1 %View all detailsHide details
Identity
- Project
- Green Bay
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland and Labrador, Canada
- Ticker
- FFM
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- standard jaw crusher followed by a Semi Autogenous Grinding (SAG) mill and a Ball Mill. Two stage flotation (rougher and cleaner) provide exceptional recoveries and production of a high-grade concentrate for shipping (21-28% Cu, 6-12g/t Au). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site.
Recovery
- Recovery
- 84.1 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS Lakefield
- Consultant
- Ausenco
Location
- Loc. Confidence
- inferred
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-25T00:00:00.000Z
Reasoning: The strong silver recovery contributes significantly to the project's economics as a valuable byproduct for the 4.6Mtpa scenario.
Positive factors
- Strong silver recovery
- Industry standard processing route
- Pilot plant scale implied
Evidence · table
“84.1”
Context: Silver Recovery
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.