- Firefly Resources (FFR) has reported a maiden JORC 2012 mineral resource estimate (MRE) for the Melville Gold Deposit in WA
- The MRE reads 196,388 ounces at 1.45g/t gold and was independently verified and checked by Perth-based mining consultancy company Entech
- Additionally, Firefly has completed a 7000-metre drilling program at Melville, marking the first stage of a large drilling program aiming to grow the resource
- Around 8000 samples have been submitted for fire assay and, once received, the results will be used to determine another MRE
- Firefly has ended the day 7.69 per cent in the green with shares trading at 14 cents
Firefly Resources (FFR) has reported a maiden JORC 2012 mineral resource estimate (MRE) for the Melville Gold Deposit.
Melville is part of Firefly’s Yalgoo Gold Project which lies 110 kilometres west of Mount Magnet in Western Australia’s Murchison Region.
The new MRE reads 196,388 ounces at 1.45g/t gold from surface with a 0.7g/t gold cut-off.
The MRE was independently verified and checked by Perth-based mining consultancy company Entech.
“The maiden JORC 2012 mineral resource estimate of 196,000 ounces of gold at Melville establishes a solid base for growth in the center of our Yalgoo Gold Project,” Managing Director Simon Lawson stated.
Additionally, Firefly has completed a 7000 metre drilling program at Melville, marking the first stage of a 30,000 metre drilling program aiming to grow the resource base.
Around 8000 samples have been submitted for fire assay and results are expected to be received in due course.
Once received, Firefly will use the results to determine another MRE.
Firefly is now in the process of undertaking its phase two drilling program with a focus on the high-grade Don Bradman and Applecross gold prospects.
The aim of this drilling is to establish new JORC 2012 complaint MRE’s for both prospects this quarter.
Firefly has ended the day 7.69 per cent in the green with shares trading at 14 cents in a $39.13 million market cap.