# FFM: Independent Technical Report for PEA and Resource Update

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142648

Publisher: asx

Original announcement: 2026-09-22T23:23:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-23T00:31:18.600Z

Atlas analysis updated: 2026-09-23T00:31:18.600Z

- Company: FireFly Metals Ltd

- Ticker: FFM

- Exchange: ASX

- Region: Newfoundland, Canada

- Primary commodity: Copper

- Secondary commodities: Gold, Silver

- Document categories: Resource update, Other

- Extracted: 2026-09-23 00:31:19 UTC

Narrative sentiment: 0.20 · Bullish

## Minestarters Atlas summary

FireFly Metals has released an Independent Technical Report for the Green Bay Copper-Gold Project, supporting its Preliminary Economic Assessment. The report confirms a combined Measured and Indicated resource of 60.2Mt at 2.43% CuEq.

Reasoning: The release provides a formal technical report for a recently updated resource estimate, confirming the scale of the Green Bay project.

- Positive factor: Large M&I resource base

- Positive factor: High-grade copper equivalent

- Positive factor: Compliance with JORC and NI 43-101

- Negative factor: Low novelty as results were first reported in August 2026

Facts used in scoring: 15

## Classification and evidence

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The technical report is prepared in accordance with NI 43-101 standards.

Evidence · text

> Technical Report required by Canadian National Instrument NI43-101

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: The resource estimate is prepared in accordance with the JORC Code \(2012 Edition\).

Evidence · text

> prepared and disclosed in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(JORC Code \(2012 Edition\)\)

**QP/CP Signed**

Polarity: positive

Definition: 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: Mr Juan Gutierrez, a Qualified Person as defined by NI 43-101, has reviewed and approved the disclosure.

Evidence · text

> Mr Juan Gutierrez... a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical disclosure

## Extracted facts

Stored fact records: 15. Some facts used in scoring do not have a stored record.

## Resource Estimates (15)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-0)

Green Bay Copper-Gold Project · copper

#### 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: Juan Gutierrez
- Resource group id: resource:1ba8f1690eb7065a6a65
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: measured
- Tonnes: 3500000
- Grade: 1.5
- Grade Unit: %
- Contained Metal: 52000
- Contained Unit: kt
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Measured resource component of the Ming Deposit.

Evidence · table

> 1.5

Context: 3.5

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-1)

Green Bay Copper-Gold Project · gold

#### 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: Juan Gutierrez
- Resource group id: resource:1ba8f1690eb7065a6a65
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: measured
- Tonnes: 3500000
- Grade: 0.2
- Grade Unit: g/t
- Contained Metal: 20000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Measured gold component of the Ming Deposit.

Evidence · table

> 0.2

Context: 3.5

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-2)

Green Bay Copper-Gold Project · silver

#### 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: Juan Gutierrez
- Resource group id: resource:1ba8f1690eb7065a6a65
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: measured
- Tonnes: 3500000
- Grade: 1.3
- Grade Unit: g/t
- Contained Metal: 147000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Measured silver component of the Ming Deposit.

Evidence · table

> 1.3

Context: 3.5

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-3)

Green Bay Copper-Gold Project · copper

#### 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: Juan Gutierrez
- Resource group id: resource:acef892f7b2aadc1fcd7
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: indicated
- Tonnes: 53800000
- Grade: 1.9
- Grade Unit: %
- Contained Metal: 1041000
- Contained Unit: t
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Indicated copper component of the Ming Deposit.

Evidence · table

> 1.9

Context: 53.8

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-4)

Green Bay Copper-Gold Project · gold

#### 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: Juan Gutierrez
- Resource group id: resource:acef892f7b2aadc1fcd7
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: indicated
- Tonnes: 53800000
- Grade: 0.5
- Grade Unit: g/t
- Contained Metal: 878000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Indicated gold component of the Ming Deposit.

Evidence · table

> 0.5

Context: 53.8

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-5)

Green Bay Copper-Gold Project · silver

#### 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: Juan Gutierrez
- Resource group id: resource:acef892f7b2aadc1fcd7
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: indicated
- Tonnes: 53800000
- Grade: 4.5
- Grade Unit: g/t
- Contained Metal: 7707000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Indicated silver component of the Ming Deposit.

Evidence · table

> 4.5

Context: 53.8

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-6)

Green Bay Copper-Gold Project · copper

#### 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: Juan Gutierrez
- Resource group id: resource:8d47c6ea0d4910b21694
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: inferred
- Tonnes: 17300000
- Grade: 2
- Grade Unit: %
- Contained Metal: 344000
- Contained Unit: t
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Inferred copper component of the Ming Deposit.

Evidence · table

> 2.0

Context: 17.3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-7)

Green Bay Copper-Gold Project · gold

#### 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: Juan Gutierrez
- Resource group id: resource:8d47c6ea0d4910b21694
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: inferred
- Tonnes: 17300000
- Grade: 0.7
- Grade Unit: g/t
- Contained Metal: 404000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Inferred gold component of the Ming Deposit.

Evidence · table

> 0.7

Context: 17.3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-8)

Green Bay Copper-Gold Project · silver

#### 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: Juan Gutierrez
- Resource group id: resource:8d47c6ea0d4910b21694
- Deposit or zone: Ming Deposit

#### Resource Data

- Category: inferred
- Tonnes: 17300000
- Grade: 6.3
- Grade Unit: g/t
- Contained Metal: 3522000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Inferred silver component of the Ming Deposit.

Evidence · table

> 6.3

Context: 17.3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-9)

Green Bay Copper-Gold Project · copper

#### 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: Juan Gutierrez
- Resource group id: resource:7197f1182f5578ae7869
- Deposit or zone: Little Deer

#### Resource Data

- Category: indicated
- Tonnes: 2900000
- Grade: 2.1
- Grade Unit: %
- Contained Metal: 62000
- Contained Unit: t
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Indicated copper component of the Little Deer Deposit.

Evidence · table

> 2.1

Context: 2.9

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-10)

Green Bay Copper-Gold Project · gold

#### 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: Juan Gutierrez
- Resource group id: resource:7197f1182f5578ae7869
- Deposit or zone: Little Deer

#### Resource Data

- Category: indicated
- Tonnes: 2900000
- Grade: 0.1
- Grade Unit: g/t
- Contained Metal: 9000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Indicated gold component of the Little Deer Deposit.

Evidence · table

> 0.1

Context: 2.9

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-11)

Green Bay Copper-Gold Project · silver

#### 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: Juan Gutierrez
- Resource group id: resource:7197f1182f5578ae7869
- Deposit or zone: Little Deer

#### Resource Data

- Category: indicated
- Tonnes: 2900000
- Grade: 3.4
- Grade Unit: g/t
- Contained Metal: 320000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Indicated silver component of the Little Deer Deposit.

Evidence · table

> 3.4

Context: 2.9

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-12)

Green Bay Copper-Gold Project · copper

#### 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: Juan Gutierrez
- Resource group id: resource:aabe5903d7eb4bd5683a
- Deposit or zone: Little Deer

#### Resource Data

- Category: inferred
- Tonnes: 6200000
- Grade: 1.8
- Grade Unit: %
- Contained Metal: 110000
- Contained Unit: t
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Inferred copper component of the Little Deer Deposit.

Evidence · table

> 1.8

Context: 6.2

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-13)

Green Bay Copper-Gold Project · gold

#### 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: Juan Gutierrez
- Resource group id: resource:aabe5903d7eb4bd5683a
- Deposit or zone: Little Deer

#### Resource Data

- Category: inferred
- Tonnes: 6200000
- Grade: 0.1
- Grade Unit: g/t
- Contained Metal: 10000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Inferred gold component of the Little Deer Deposit.

Evidence · table

> 0.1

Context: 6.2

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/ffm-independent-technical-report-for-pea-and-resource-update--889f3a89-4d61-4974-a159-70398fec6805#fact-resource-facts-14)

Green Bay Copper-Gold Project · silver

#### 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: Juan Gutierrez
- Resource group id: resource:aabe5903d7eb4bd5683a
- Deposit or zone: Little Deer

#### Resource Data

- Category: inferred
- Tonnes: 6200000
- Grade: 2.2
- Grade Unit: g/t
- Contained Metal: 430000
- Contained Unit: oz
- Cutoff Grade: 1
- Cutoff Unit: %

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: Inferred silver component of the Little Deer Deposit.

Evidence · table

> 2.2

Context: 6.2

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

## 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.