Highly experienced resources executive Jessie Liu-Ernsting will transition from Non-Executive Director to Chief Corporate Development Officer
Perth, Western Australia--(Newsfile Corp. - April 21, 2025) - FireFly Metals Limited (ASX: FFM) (TSX: FFM) ("FireFly" or the "Company") is pleased to advise that it has appointed experienced investor relations executive and professional engineer Jessie Liu-Ernsting as Chief Corporate Development Officer, based in Toronto.
Ms Liu-Ernsting will be primarily responsible for strategic and corporate development and investor relations and will commence in her new role mid to late May 2025.
Her appointment builds on FireFly's recent dual listing on the Toronto Stock Exchange, enabling the Company to grow the standing of its Green Bay Copper-gold Project in Canada among North American investors.
FireFly Managing Director Steve Parsons said Ms Liu-Ernsting's appointment reflects the Company's commitment to growing awareness and understanding of the huge opportunity at Green Bay among North American investors.
"We continue to create substantial shareholder value with our strategy to grow and upgrade the resource while doing the mining studies associated with a production re-start.
"Given the clear appetite among North American investors for copper and gold projects in their region, we believe there is a big opportunity to grow FireFly's profile in this community.
"Jessie's experience in North American capital markets will help ensure we establish a strong connection between FireFly and North American investors."
Ms Jessie Liu-Ernsting
Ms Liu-Ernsting was previously Vice President, Investor Relations & Communications of TSX Venture 50™ and OTCQX Best 50 company, G Mining Ventures Corp. (TSX:GMIN) where she was part of the leadership team responsible for a share price increase of 600%, taking the market capitalisation to C$4.7B.
Ms Liu-Ernsting was responsible for establishing and delivering GMIN's inaugural investor relations program to increase investor awareness and engagement. She was involved in GMIN securing the US$481M Tocantinzinho project construction financing package consisting of gold stream, equity, debt and equipment financing in the tough market environment of 2022, and GMIN's shareholder-approved C$875M merger with Reunion Gold in 2024.
Prior to joining GMIN, Ms Liu-Ernsting led a junior mining company as its inaugural VP of Corporate Development and Investor Relations to achieve 14x share price accretion and raised $33M over that company's first 12 months during the COVID-19 crisis. Before that, she guided a public mining company to achieve settlement on a disputed proxy. Previously, as investment manager at Resource Capital Funds, Ms. Liu-Ernsting sourced, evaluated, structured and managed a portfolio of natural resources investments. Ms. Liu-Ernsting started her career with two of the preeminent Canadian engineering firms conducting backfill, mine, mill and mining innovation capital projects. She is currently a director of the Prospectors & Developers Association of Canada (PDAC).
Ms Liu-Ernsting has resigned from the FireFly board to take up this opportunity. FireFly is currently conducting a search for a new independent non-executive director.
This announcement has been authorised by the Board of Directors.
Steve Parsons
Media
Managing Director
Paul Armstrong
FireFly Metals Ltd
Read Corporate
Phone: +61 8 9220 9030
+61 8 9388 1474
ABOUT FIREFLY METALS
FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada. The Green Bay Copper-Gold Project currently hosts a Mineral Resource prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) of 24.4Mt of Measured and Indicated Resources at 1.9% for 460Kt CuEq and 34.5Mt of Inferred Resources at 2% for 690Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program.
FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km2 tenement holding.
The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia.
For further information regarding FireFly Metals Ltd please visit the ASX platform (ASX:FFM), the Company's website www.fireflymetals.com.au or SEDAR+ at www.sedarplus.ca.
COMPLIANCE STATEMENTS Mineral Resources Estimate - Green Bay Project The Mineral Resource Estimate for the Green Bay Project referred to in this announcement and set out at Appendix A was first reported in the Company's ASX announcement dated 29 October 2024, titled "Resource increases 42% to 1.2Mt of contained metal at 2% Copper Eq" and is also set out in the Technical Reports for the Ming Copper Gold Mine and Little Deer Copper Project available on SEDAR+ at www.sedarplus.ca.
Mineral Resources Estimate - Pickle Crow Project The Mineral Resource Estimate for the Pickle Crow Project referred to in this announcement was first reported in the Company's ASX release dated 4 May 2023, titled "High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t".
Metal equivalents for Mineral Resource Estimates Metal equivalents for Mineral Resource Estimate mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Mineral Resource grades for the metals are set out at Appendix A of this announcement. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).
Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries.
In the opinion of the Company, all elements included in the metal equivalent calculations have a reasonable potential to be sold and recovered based on current market conditions, metallurgical test work, the Company's operational experience and, where relevant, historical performance achieved at the Green Bay project whilst in operation.
Original Announcements FireFly confirms that it is not aware of any new information or data that materially affects the information included in the original announcements and that, in the case of Mineral Resources, all material assumptions and technical parameters underpinning the Mineral Resource Estimates in the original announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' and Qualified Persons' findings are presented have not been materially modified from the original market announcements.
FORWARD LOOKING INFORMATION
This announcement may contain certain forward-looking statements and projections, including statements regarding FireFly's plans, forecasts and projections with respect to its mineral properties and programs. Although the forward-looking statements contained in this announcement reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly's plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly's mineral properties. The performance of FireFly may be influenced by a number of factors which are outside the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or otherwise, except to the extent required by applicable laws.
APPENDIX A
Green Bay Copper-Gold Project Mineral Resources
Ming Deposit Mineral Resource Estimate
TONNES
COPPER
GOLD
SILVER
CuEq
(Mt)
Grade (%)
Metal ('000 t)
Grade (g/t)
Metal ('000 oz)
Grade (g/t)
Metal ('000 oz)
Grade (%)
Measured
4.7
1.7
80
0.3
40
2.3
340
1.9
Indicated
16.8
1.6
270
0.3
150
2.4
1,300
1.8
TOTAL M&I
21.5
1.6
340
0.3
190
2.4
1,600
1.8
Inferred
28.4
1.7
480
0.4
340
3.3
3,000
2.0
Little Deer Mineral Resource Estimate
TONNES
COPPER
GOLD
SILVER
CuEq
(Mt)
Grade (%)
Metal ('000 t)
Grade (g/t)
Metal ('000 oz)
Grade (g/t)
Metal ('000 oz)
Grade (%)
Measured
-
-
-
-
-
-
-
-
Indicated
2.9
2.1
62
0.1
9
3.4
320
2.3
TOTAL M&I
2.9
2.1
62
0.1
9
3.4
320
2.3
Inferred
6.2
1.8
110
0.1
10
2.2
430
1.8
Green Bay Total Mineral Resource Estimate
TONNES
COPPER
GOLD
SILVER
CuEq
(Mt)
Grade (%)
Metal ('000 t)
Grade (g/t)
Metal ('000 oz)
Grade (g/t)
Metal ('000 oz)
Grade (%)
Measured
4.7
1.7
80
0.3
45
2.3
340
1.9
Indicated
19.7
1.7
330
0.2
154
2.6
1,600
1.9
TOTAL M&I
24.4
1.7
400
0.3
199
2.5
2,000
1.9
Inferred
34.6
1.7
600
0.3
348
3.1
3,400
2.0
FireFly Metals Ltd Mineral Resources for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are reported in accordance with the JORC Code 2012 and NI 43-101.
Mineral Resources have been reported at a 1.0% copper cut-off grade.
Metal equivalents for the Mineral Resource Estimate has been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).
