Firetail Resources Limited (ASX:FTL) Uncovers Multiple EM Conductor Targets at Skyline Project
Exploration Highlights
Firetail Resources Limited (ASX:FTL) has identified multiple significant EM conductor targets at its Skyline Copper Project in Newfoundland, Canada.
The recent Heli-EM survey, the first modern airborne EM survey at Skyline, revealed several late channel bedrock EM conductors across the northern half of the project, with five new target areas prioritised. The Veyron Target comprises two modelled EM plates, each featuring a strike length of 500m and a depth extent of 700m, starting approximately 120m below the surface. These plates exhibit conductivity responses similar to the massive copper-zinc sulphide mineralisation in the York Harbour Mine Sequence, aligning well with petrophysical testing results.
Additional zones like Countach, Cayman, and Maranello display multiple discrete EM conductors along the western contact of the ophiolite sequence. Firetail plans follow-up mapping, geochemical sampling, and geophysical surveys to further define these targets.
Executive Comments
Managing Director Glenn Poole commented, “The results of the Heli-EM survey have exceeded expectations in delivering a series of compelling large-scale targets. Our new understanding of the mineral and rock characteristics across the Skyline Project has significantly advanced our understanding regarding the geophysical and geochemical signatures and targeting methodologies for the potentially mineralised zones.”
He continued: “This is a very exciting breakthrough for our efforts to unlock the broader potential of the Skyline Project, and it is envisaged we will extend the airborne EM survey next quarter to cover the remainder of the Skyline tenure with the potential to add further targets to the six we have recently identified. The next few months will be an exciting time for shareholders as we commence the next phase of growth, advancing these high-priority targets with modern and systematic exploration methods. I look forward to updating shareholders with progress over the coming months.”
Future Exploration Plans
Firetail plans to conduct ground-based electromagnetic surveys to refine the geometry and extent of the newly identified EM conductors, followed by targeted drill testing. Additionally, an airborne EM survey is scheduled for Q2CY25 to explore a further 9km of prospective VMS strike at Skyline, potentially identifying more targets to enhance the project’s mineral prospects.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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