FireFly set to capitalise on strong copper outlook with economic studies underway
Original announcement by tmx on
- Company
- FireFly Metals Ltd
- Ticker
- FFM
- Exchange
- TSX
- Region
- Newfoundland, Canada
- Primary commodity
- Copper
- Secondary commodities
- Gold, Silver
- Document categories
- Resource update, Drill results, Capital raise
- Extracted
- 2026-09-12 04:25:55 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
FireFly Metals has announced a significant update to its Green Bay Copper-Gold Project's Mineral Resource Estimate, reporting a 51% increase in copper equivalent metal in the Measured & Indicated categories. The update includes the delineation of a high-grade core zone and is supported by successful step-out drilling. The company is well-funded with A$250.9 million in cash and liquid investments, enabling it to progress economic studies and an aggressive drilling program.
Reasoning: FireFly Metals has significantly upgraded its Green Bay Copper-Gold Project's Mineral Resource, particularly in the higher-confidence M&I categories, and delineated a high-grade core. This, combined with a successful capital raise and strong cash position, positions the company well for advancing economic studies and further exploration in a favorable copper market.
Positive factors
- Significant increase in Measured & Indicated (M&I) Mineral Resources for the Green Bay project, providing a strong foundation for economic studies.
- Delineation of a high-grade core zone materially enhances development options.
- Successful capital raising and strong cash position provide funding for aggressive exploration and development activities.
- Exceptional drilling results extended mineralization to depth and down-plunge, including a high-grade intercept with true thickness disclosed.
- Project is compliant with JORC Code 2012 and NI 43-101, with QP/CP sign-off, indicating high reporting standards.
Facts used in scoring: 35
Classification and evidence
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The total Green Bay Mineral Resource increased to 50.4Mt M&I, representing a 35% increase in tonnage from the previous MRE.
Evidence · text
“Total Green Bay Mineral Resource increased to 50.4Mt @ 2.0% Copper Equivalent (CuEq) in the Measured & Indicated (M&I) categories plus 29.3Mt @ 2.5% CuEq in the Inferred category: This was a 51% increase from the previous Mineral Resource Estimate (MRE) of October 2024”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Contained copper increased to 863kt M&I (+113%) and contained gold increased to 546koz M&I (+174%).
Evidence · text
“Contained copper increased to 863kt M&I (+113%) plus 566kt Inferred Contained gold increased to 546koz M&I (+174%) plus 563koz Inferred (+62%)”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The proportion of higher-confidence M&I Mineral Resources at the Ming Deposit increased by 121% (from 21.5Mt to 47.5Mt).
Evidence · text
“Importantly, the highly valuable M&I categories of Mineral Resource at the Ming Deposit have grown by 121% (from 21.5Mt to 47.5Mt)”
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: All technical and scientific information has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez, who is a Competent Person and Qualified Person.
Evidence · text
“All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez BSc, Geology (Masters), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Gutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The MRE was prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012).
Evidence · text
“Both the Ming Deposit and Little Deer MRE have been prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( JORC Code 2012 )”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The MRE was prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101).
Evidence · text
“and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ( NI 43-101 )”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces a substantial increase to the Mineral Resource Estimate for the Green Bay Copper-Gold Project.
Evidence · text
“On 18 November 2025, FireFly announced a substantial increase to the Mineral Resource Estimate for the Green Bay Copper-Gold Project (the November 2025 MRE ).”
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The November 2025 MRE will underpin the Preliminary Economic Assessment (PEA) planned for completion in the first half of 2026.
Evidence · text
“The November 2025 MRE will underpin the Preliminary Economic Assessment ( PEA ) planned for completion in the first half of 2026.”
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: A Feasibility Study is expected to be finalised by the end of the 2026 calendar year, supported by the upgraded Mineral Resource.
Evidence · text
“a Feasibility Study is expected to be finalised by the end of the 2026 calendar year”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: The intercept of 49.0m @ 6.1% CuEq is exceptionally high-grade for a VMS deposit.
Evidence · text
“49.0m @ 6.1% CuEq (4.9% Cu & 1.3g/t Au)”
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: The true thickness of the intercept is stated as ~39.2m.
Evidence · text
“~39.2m true thickness”
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: The drill hole MUG25-202 is described as the furthest step-out hole to date, extending mineralization by more than 650m.
Evidence · text
“furthest step-out hole drilled to date from the 805L exploration drive, which intersected: 49.0m @ 6.1% CuEq (4.9% Cu & 1.3g/t Au) in hole MUG25-202 (~39.2m true thickness), including an internal massive sulphide zone grading 14.3m @ 13.7% CuEq (10.6% Cu & 3.2% Au), confirming that mineralisation strengthens at depth and remains open, and extended the known mineralisation by more than 650m beyond the October 2024 MRE”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release states that all technical and scientific information has been reviewed and approved by a Competent Person and Qualified Person.
Evidence · text
“All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez”
Extracted facts
Stored fact records: 35. Some facts used in scoring do not have a stored record.
Drill Results (3)
MUG25-202Green Bay · copperGrade: 4.9Grade Unit: %Intercept: 49 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MUG25-202
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- canada_nl
- Ticker
- FFM
Geometry
- Grade
- 4.9
- Grade Unit
- %
- Intercept
- 49 m
- True Width
- 39.2 m
Classification
- Deposit Type
- vms
- Program
- exploration
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: This drill intercept shows exceptional copper grade over a significant true width, extending the known mineralization and indicating strong potential for further growth at depth, making it a highly material and novel result.
Positive factors
- Exceptional copper grade for a VMS deposit.
- Significant intercept length and true width disclosed.
- Step-out drilling extended known mineralization by more than 650m.
- Mineralization remains open in multiple directions.
- QP/CP sign-off on technical information.
Evidence · text
“49.0m @ 6.1% CuEq (4.9% Cu & 1.3g/t Au) in hole MUG25-202 (~39.2m true thickness)”
Tags used in scoring
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: true_width_m is 39.2
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
MUG25-202Green Bay · goldGrade: 1.3Grade Unit: g/tIntercept: 49 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MUG25-202
- Project
- Green Bay
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- canada_nl
- Ticker
- FFM
Geometry
- Grade
- 1.3
- Grade Unit
- g/t
- Intercept
- 49 m
- True Width
- 39.2 m
Classification
- Deposit Type
- vms
- Program
- exploration
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: This drill intercept shows strong gold grade over a significant true width, contributing to the polymetallic nature of the extension and indicating strong potential for further growth at depth.
Positive factors
- Strong gold grade for a VMS deposit.
- Significant intercept length and true width disclosed.
- Step-out drilling extended known mineralization by more than 650m.
- Mineralization remains open in multiple directions.
- QP/CP sign-off on technical information.
Evidence · text
“49.0m @ 6.1% CuEq (4.9% Cu & 1.3g/t Au) in hole MUG25-202 (~39.2m true thickness)”
Tags used in scoring
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: true_width_m is 39.2
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
MUG25-202Green Bay · copperGrade: 6.1Grade Unit: %Intercept: 49 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MUG25-202
- Project
- Green Bay
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- canada_nl
- Ticker
- FFM
Geometry
- Grade
- 6.1
- Grade Unit
- %
- Intercept
- 49 m
- True Width
- 39.2 m
Classification
- Deposit Type
- vms
- Program
- exploration
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Metal Equivalent
- Metal Eq. Grade
- 6.1
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: This drill intercept shows exceptional copper equivalent grade over a significant true width, reflecting the combined value of copper and gold, extending the known mineralization and indicating strong potential for further growth at depth.
Positive factors
- Exceptional copper equivalent grade for a VMS deposit.
- Significant intercept length and true width disclosed.
- Step-out drilling extended known mineralization by more than 650m.
- Mineralization remains open in multiple directions.
- QP/CP sign-off on technical information.
Evidence · text
“49.0m @ 6.1% CuEq (4.9% Cu & 1.3g/t Au) in hole MUG25-202 (~39.2m true thickness)”
Tags used in scoring
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: true_width_m is 39.2
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (32)
measuredGreen Bay Copper-Gold Project · copperTonnes: 6300000Grade: 1.5Grade Unit: %Contained Metal: 94Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:37a480a1ed47bb5fa3f9
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Grade
- 1.5
- Grade Unit
- %
- Contained Metal
- 94
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured resource for copper at Green Bay is a high-confidence estimate with a good grade, contributing significantly to the project's overall value.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Good copper grade for a VMS deposit.
Evidence · table
“1.5”
Context: 6.3
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 Copper-Gold Project · goldTonnes: 6300000Grade: 0.3Grade Unit: g/tContained Metal: 50Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:37a480a1ed47bb5fa3f9
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Grade
- 0.3
- Grade Unit
- g/t
- Contained Metal
- 50
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured gold resource, while lower grade, adds to the overall value and polymetallic nature of the Green Bay project.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Gold contributes to the polymetallic nature of the deposit.
Evidence · table
“0.3”
Context: 6.3
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 Copper-Gold Project · silverTonnes: 6300000Grade: 1.9Grade Unit: g/tContained Metal: 388Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:37a480a1ed47bb5fa3f9
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Grade
- 1.9
- Grade Unit
- g/t
- Contained Metal
- 388
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured silver resource, while lower grade, adds to the overall value and polymetallic nature of the Green Bay project.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Silver contributes to the polymetallic nature of the deposit.
Evidence · table
“1.9”
Context: 6.3
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 Copper-Gold Project · copperTonnes: 6300000View all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:37a480a1ed47bb5fa3f9
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Metal Eq. Grade
- 1.7
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured copper equivalent resource at Green Bay is a high-confidence estimate with a good grade, reflecting the combined value of copper, gold, and silver.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Good copper equivalent grade for a VMS deposit.
Evidence · table
“1.7”
Context: 6.3
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 Copper-Gold Project · copperTonnes: 44100000Grade: 1.7Grade Unit: %Contained Metal: 769Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:6c88d98f37d3ec93ef59
Resource Data
- Category
- indicated
- Tonnes
- 44100000
- Grade
- 1.7
- Grade Unit
- %
- Contained Metal
- 769
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated copper resource at Green Bay shows substantial tonnage and good grade, contributing significantly to the project's overall value and de-risking.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Good copper grade for a VMS deposit.
- Significant increase in M&I resources for the overall project.
Evidence · table
“1.7”
Context: 44.1
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 Copper-Gold Project · goldTonnes: 44100000Grade: 0.4Grade Unit: g/tContained Metal: 496Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:6c88d98f37d3ec93ef59
Resource Data
- Category
- indicated
- Tonnes
- 44100000
- Grade
- 0.4
- Grade Unit
- g/t
- Contained Metal
- 496
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated gold resource, while lower grade, adds to the overall value and polymetallic nature of the Green Bay project, with a significant contained metal increase.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Gold contributes to the polymetallic nature of the deposit.
- Significant increase in M&I resources for the overall project.
Evidence · table
“0.4”
Context: 44.1
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 Copper-Gold Project · silverTonnes: 44100000Grade: 3.3Grade Unit: g/tContained Metal: 4638Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:6c88d98f37d3ec93ef59
Resource Data
- Category
- indicated
- Tonnes
- 44100000
- Grade
- 3.3
- Grade Unit
- g/t
- Contained Metal
- 4638
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated silver resource, while lower grade, adds to the overall value and polymetallic nature of the Green Bay project, with a significant contained metal increase.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Silver contributes to the polymetallic nature of the deposit.
- Significant increase in M&I resources for the overall project.
Evidence · table
“3.3”
Context: 44.1
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 Copper-Gold Project · copperTonnes: 44100000View all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:6c88d98f37d3ec93ef59
Resource Data
- Category
- indicated
- Tonnes
- 44100000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Metal Eq. Grade
- 2.1
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated copper equivalent resource at Green Bay shows substantial tonnage and good grade, reflecting the combined value of copper, gold, and silver, and contributing to the project's de-risking.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Good copper equivalent grade for a VMS deposit.
- Significant increase in M&I resources for the overall project.
Evidence · table
“2.1”
Context: 44.1
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 Copper-Gold Project · copperTonnes: 29300000Grade: 1.9Grade Unit: %Contained Metal: 566Contained Unit: ktView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:9aca016c55106bb5459c
Resource Data
- Category
- inferred
- Tonnes
- 29300000
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 566
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred copper resource at Green Bay shows substantial tonnage and good grade, indicating significant potential for future resource conversion and growth, despite its lower confidence category.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Good copper grade for a VMS deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“1.9”
Context: 29.3
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
inferredGreen Bay Copper-Gold Project · goldTonnes: 29300000Grade: 0.6Grade Unit: g/tContained Metal: 563Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:9aca016c55106bb5459c
Resource Data
- Category
- inferred
- Tonnes
- 29300000
- Grade
- 0.6
- Grade Unit
- g/t
- Contained Metal
- 563
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred gold resource, with significant contained metal, indicates strong exploration upside and adds to the polymetallic nature of the Green Bay project, despite its lower confidence category.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Gold contributes to the polymetallic nature of the deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.6”
Context: 29.3
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
inferredGreen Bay Copper-Gold Project · silverTonnes: 29300000Grade: 5.1Grade Unit: g/tContained Metal: 4810Contained Unit: kozView all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:9aca016c55106bb5459c
Resource Data
- Category
- inferred
- Tonnes
- 29300000
- Grade
- 5.1
- Grade Unit
- g/t
- Contained Metal
- 4810
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred silver resource, with significant contained metal, indicates strong exploration upside and adds to the polymetallic nature of the Green Bay project, despite its lower confidence category.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Silver contributes to the polymetallic nature of the deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“5.1”
Context: 29.3
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
inferredGreen Bay Copper-Gold Project · copperTonnes: 29300000View all detailsHide details
Identity
- Project
- Green Bay Copper-Gold Project
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:9aca016c55106bb5459c
Resource Data
- Category
- inferred
- Tonnes
- 29300000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Metal Eq. Grade
- 2.5
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred copper equivalent resource at Green Bay shows substantial tonnage and good grade, reflecting the combined value of copper, gold, and silver, and indicating significant potential for future growth.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Good copper equivalent grade for a VMS deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.5”
Context: 29.3
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
measuredMing Deposit · copperTonnes: 6300000Grade: 1.5Grade Unit: %Contained Metal: 94Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:0d4285ff705979c5c49e
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Grade
- 1.5
- Grade Unit
- %
- Contained Metal
- 94
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured resource for copper at Ming Deposit is a high-confidence estimate with a good grade, contributing significantly to the project's overall value.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Good copper grade for a VMS deposit.
Evidence · table
“1.5”
Context: 6.3
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: 6300000Grade: 0.3Grade Unit: g/tContained Metal: 50Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:0d4285ff705979c5c49e
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Grade
- 0.3
- Grade Unit
- g/t
- Contained Metal
- 50
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured gold resource, while lower grade, adds to the overall value and polymetallic nature of the Ming Deposit.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Gold contributes to the polymetallic nature of the deposit.
Evidence · table
“0.3”
Context: 6.3
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: 6300000Grade: 1.9Grade Unit: g/tContained Metal: 388Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:0d4285ff705979c5c49e
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Grade
- 1.9
- Grade Unit
- g/t
- Contained Metal
- 388
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured silver resource, while lower grade, adds to the overall value and polymetallic nature of the Ming Deposit.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Silver contributes to the polymetallic nature of the deposit.
Evidence · table
“1.9”
Context: 6.3
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: 6300000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:0d4285ff705979c5c49e
Resource Data
- Category
- measured
- Tonnes
- 6300000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Metal Eq. Grade
- 1.7
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Measured copper equivalent resource at Ming Deposit is a high-confidence estimate with a good grade, reflecting the combined value of copper, gold, and silver.
Positive factors
- High confidence Measured category provides a strong basis for economic studies.
- Good copper equivalent grade for a VMS deposit.
Evidence · table
“1.7”
Context: 6.3
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: 41200000Grade: 1.7Grade Unit: %Contained Metal: 708Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:ce95900707a82a952357
Resource Data
- Category
- indicated
- Tonnes
- 41200000
- Grade
- 1.7
- Grade Unit
- %
- Contained Metal
- 708
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
- Prior Tonnes
- 21500000
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated copper resource at Ming Deposit shows substantial tonnage and good grade, with a significant increase in M&I resources, contributing to the project's de-risking.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Good copper grade for a VMS deposit.
- Significant increase in M&I resources for the Ming Deposit.
Evidence · table
“1.7”
Context: 41.2
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
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 41200000 against 21500000 previously
indicatedMing Deposit · goldTonnes: 41200000Grade: 0.4Grade Unit: g/tContained Metal: 488Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:ce95900707a82a952357
Resource Data
- Category
- indicated
- Tonnes
- 41200000
- Grade
- 0.4
- Grade Unit
- g/t
- Contained Metal
- 488
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
- Prior Tonnes
- 21500000
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated gold resource, with significant contained metal, adds to the overall value and polymetallic nature of the Ming Deposit, with a significant increase in M&I resources.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Gold contributes to the polymetallic nature of the deposit.
- Significant increase in M&I resources for the Ming Deposit.
Evidence · table
“0.4”
Context: 41.2
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
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 41200000 against 21500000 previously
indicatedMing Deposit · silverTonnes: 41200000Grade: 3.2Grade Unit: g/tContained Metal: 4320Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:ce95900707a82a952357
Resource Data
- Category
- indicated
- Tonnes
- 41200000
- Grade
- 3.2
- Grade Unit
- g/t
- Contained Metal
- 4320
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
- Prior Tonnes
- 21500000
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated silver resource, with significant contained metal, adds to the overall value and polymetallic nature of the Ming Deposit, with a significant increase in M&I resources.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Silver contributes to the polymetallic nature of the deposit.
- Significant increase in M&I resources for the Ming Deposit.
Evidence · table
“3.2”
Context: 41.2
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
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 41200000 against 21500000 previously
indicatedMing Deposit · copperTonnes: 41200000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:ce95900707a82a952357
Resource Data
- Category
- indicated
- Tonnes
- 41200000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
- Prior Tonnes
- 21500000
Metal Equivalent
- Metal Eq. Grade
- 2.1
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated copper equivalent resource at Ming Deposit shows substantial tonnage and good grade, reflecting the combined value of copper, gold, and silver, and contributing to the project's de-risking with a significant increase in M&I resources.
Positive factors
- Large tonnage in the Indicated category, providing confidence for economic studies.
- Good copper equivalent grade for a VMS deposit.
- Significant increase in M&I resources for the Ming Deposit.
Evidence · table
“2.1”
Context: 41.2
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
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 41200000 against 21500000 previously
inferredMing Deposit · copperTonnes: 23100000Grade: 2Grade Unit: %Contained Metal: 456Contained Unit: ktView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:55f1c058427d944463c2
Resource Data
- Category
- inferred
- Tonnes
- 23100000
- Grade
- 2
- Grade Unit
- %
- Contained Metal
- 456
- Contained Unit
- kt
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred copper resource at Ming Deposit shows substantial tonnage and good grade, indicating significant potential for future resource conversion and growth, despite its lower confidence category.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Good copper grade for a VMS deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.0”
Context: 23.1
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: 23100000Grade: 0.7Grade Unit: g/tContained Metal: 553Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:55f1c058427d944463c2
Resource Data
- Category
- inferred
- Tonnes
- 23100000
- Grade
- 0.7
- Grade Unit
- g/t
- Contained Metal
- 553
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred gold resource, with significant contained metal, indicates strong exploration upside and adds to the polymetallic nature of the Ming Deposit, despite its lower confidence category.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Gold contributes to the polymetallic nature of the deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.7”
Context: 23.1
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: 23100000Grade: 5.9Grade Unit: g/tContained Metal: 4379Contained Unit: kozView all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:55f1c058427d944463c2
Resource Data
- Category
- inferred
- Tonnes
- 23100000
- Grade
- 5.9
- Grade Unit
- g/t
- Contained Metal
- 4379
- Contained Unit
- koz
- Cutoff Grade
- 1
- Cutoff Unit
- % copper
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred silver resource, with significant contained metal, indicates strong exploration upside and adds to the polymetallic nature of the Ming Deposit, despite its lower confidence category.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Silver contributes to the polymetallic nature of the deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“5.9”
Context: 23.1
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: 23100000View all detailsHide details
Identity
- Project
- Ming Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:55f1c058427d944463c2
Resource Data
- Category
- inferred
- Tonnes
- 23100000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
Metal Equivalent
- Metal Eq. Grade
- 2.6
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred copper equivalent resource at Ming Deposit shows substantial tonnage and good grade, reflecting the combined value of copper, gold, and silver, and indicating significant potential for future growth.
Positive factors
- Large tonnage in the Inferred category indicates significant exploration upside.
- Good copper equivalent grade for a VMS deposit.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.6”
Context: 23.1
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 Deposit · copperTonnes: 2900000Grade: 2.1Grade Unit: %Contained Metal: 62Contained Unit: ktView all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:c435bd67ac3e9f33e5b2
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
- 2025-11-18
- Prior Tonnes
- 2900000
- Prior Grade
- 2.1
- Prior Contained Metal
- 62
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated copper resource at Little Deer is a good quality estimate, but it has not seen any growth since the previous MRE, making its novelty low.
Positive factors
- Good copper grade for a VMS deposit.
- Indicated category provides confidence for economic studies.
Negative factors
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · goldTonnes: 2900000Grade: 0.1Grade Unit: g/tContained Metal: 9Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:c435bd67ac3e9f33e5b2
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
- 2025-11-18
- Prior Tonnes
- 2900000
- Prior Grade
- 0.1
- Prior Contained Metal
- 9
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated gold resource at Little Deer, while contributing to the polymetallic nature, has not seen any growth since the previous MRE, resulting in low novelty.
Positive factors
- Indicated category provides confidence for economic studies.
- Gold contributes to the polymetallic nature of the deposit.
Negative factors
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · silverTonnes: 2900000Grade: 3.4Grade Unit: g/tContained Metal: 320Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:c435bd67ac3e9f33e5b2
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
- 2025-11-18
- Prior Tonnes
- 2900000
- Prior Grade
- 3.4
- Prior Contained Metal
- 320
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated silver resource at Little Deer, while contributing to the polymetallic nature, has not seen any growth since the previous MRE, resulting in low novelty.
Positive factors
- Indicated category provides confidence for economic studies.
- Silver contributes to the polymetallic nature of the deposit.
Negative factors
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · copperTonnes: 2900000View all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:c435bd67ac3e9f33e5b2
Resource Data
- Category
- indicated
- Tonnes
- 2900000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
- Prior Tonnes
- 2900000
- Prior Grade
- 2.3
Metal Equivalent
- Metal Eq. Grade
- 2.3
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Indicated copper equivalent resource at Little Deer is a good quality estimate, but it has not seen any growth since the previous MRE, making its novelty low.
Positive factors
- Indicated category provides confidence for economic studies.
- Good copper equivalent grade for a VMS deposit.
Negative factors
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · copperTonnes: 6200000Grade: 1.8Grade Unit: %Contained Metal: 110Contained Unit: ktView all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:5abd2486bddacb06ea86
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
- 2025-11-18
- Prior Tonnes
- 6200000
- Prior Grade
- 1.8
- Prior Contained Metal
- 110
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred copper resource at Little Deer shows good grade but has not seen any growth since the previous MRE, limiting its novelty and confidence for future development.
Positive factors
- Good copper grade for a VMS deposit.
Negative factors
- Inferred category has lower geological confidence.
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · goldTonnes: 6200000Grade: 0.1Grade Unit: g/tContained Metal: 10Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- gold
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:5abd2486bddacb06ea86
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
- 2025-11-18
- Prior Tonnes
- 6200000
- Prior Grade
- 0.1
- Prior Contained Metal
- 10
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred gold resource at Little Deer, while contributing to the polymetallic nature, has not seen any growth since the previous MRE, limiting its novelty and confidence.
Positive factors
- Gold contributes to the polymetallic nature of the deposit.
Negative factors
- Inferred category has lower geological confidence.
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · silverTonnes: 6200000Grade: 2.2Grade Unit: g/tContained Metal: 430Contained Unit: kozView all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- silver
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:5abd2486bddacb06ea86
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
- 2025-11-18
- Prior Tonnes
- 6200000
- Prior Grade
- 2.2
- Prior Contained Metal
- 430
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred silver resource at Little Deer, while contributing to the polymetallic nature, has not seen any growth since the previous MRE, limiting its novelty and confidence.
Positive factors
- Silver contributes to the polymetallic nature of the deposit.
Negative factors
- Inferred category has lower geological confidence.
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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 Deposit · copperTonnes: 6200000View all detailsHide details
Identity
- Project
- Little Deer Deposit
- Commodity
- copper
- Region
- canada_nl
- Reported Region
- Newfoundland, Canada
- Ticker
- FFM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Mr Juan Gutierrez
- Resource group id
- resource:5abd2486bddacb06ea86
Resource Data
- Category
- inferred
- Tonnes
- 6200000
- Cutoff Grade
- 1
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-11-18
- Prior Tonnes
- 6200000
- Prior Grade
- 1.8
Metal Equivalent
- Metal Eq. Grade
- 1.8
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-30T00:00:00.000Z
Reasoning: The Inferred copper equivalent resource at Little Deer shows good grade but has not seen any growth since the previous MRE, limiting its novelty and confidence for future development.
Positive factors
- Good copper equivalent grade for a VMS deposit.
Negative factors
- Inferred category has lower geological confidence.
- Resource estimate remains unchanged from previous MRE, indicating no new growth.
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
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.