Firefly Resources Intersects Further High-Grade Gold at Yalgoo

THE DRILL SERGEANT: Firefly Resources (ASX: FFR) reported new results from a second batch of assays received from a recently completed second phase drilling undertaken at the company’s 100 per cent-owned Yalgoo gold project in Western Australia.

Firefly Resources declared the results had confirmed the consistency, high-grade potential and shallow nature of the mineralisation within the Melville gold deposit.

New assay results include:

50 metres at 1.4 grams per tonne gold, including 4m at 5.2g/t gold and 5m at 4.04g/t gold;

30m at 1.23g/t gold, including 6m at 7.48g/t gold;

22m at 5.36g/t gold, including 5m at 17.5g/t gold, including 1m at 73.3g/t gold;

17m at 2.75g/t gold, including 3m at 7.48g/t gold; and

3m at 5.89g/t gold, including 1m at 17g/t gold.

“We have completed systematic drill test of areas that we believed were more ‘at-risk’ in the historical Melville resource estimate when we acquired the project,” Firefly Resources managing director Simon Lawson said in the company’s ASX announcement.

“While producing some spectacular gold results along the way, this drilling within the main resource area has strongly validated the historical data used in the previous estimate, giving us a high level of confidence in the previous estimate.

“The next phase of drilling, currently underway, is designed to significantly increase the footprint of mineralisation by targeting an area up to 500 metres to the north and along-strike from Melville.

“We have established an excellent foundation at Melville in our previous two phases of drilling, and it’s now time to step out and see how big we can grow our key gold asset at Yalgoo.

“Our small team is out there consistently generating results and testing the value proposition represented by Melville right now.

“We are really excited about what we are seeing in these latest drill-holes and have a schedule of targets along-strike from Melville as well as across the multiple proven mineralised trends in the wider Yalgoo gold project.”