Canada

Firetail has executed a Binding Option Agreement for the acquisition of up to 80% of Skyline Copper Project via a staged earn-in. Firetail now holds a 49% interest in the Skyline Project, with an option to earn up to an additional 31% undivided interest in the Skyline Project upon completion of three remaining milestones.

The Skyline Copper Project is a Cyprus-type volcanogenic massive sulphide (VMS) copper exploration project covering 189 contiguous claims (~47km²) of highly prospective geology, hosting the historic, high grade York Harbour Copper Mine. Discovered in 1897, with mining commencing the following year until 1913, the mine produced 100,000t of ore from 1.2km of UG Development with grades between 3-12% Cu, 7% Zn and 1-3oz/t Ag.

Historic results from project area include

• 29.0m at 5.25% Cu, 9g/t Ag from 147m (YH21-24 H Zone)
• 24.3m at 2.77% Cu 9.3% Zn, 18g/t Ag from 93m (YH21-18 D Zone)
• 22.56m at 4.34% Cu from 68.88m (Y-8)
• 24.54m at 2.14% Cu, 12.78% Zn from 21.03m (LU133)
• 14.88m at 3.08% Cu from 30.88m (LU120)

Located in Western Newfoundland, Newfoundland and Labrador, Canada, the area also hosts the FireFly Metals (ASX:FFM) Green Bay Copper Project and Little Deer Cu-Au Complex, Calibre Mining Corporation (TSX:CXB) Valentine Gold Project and Matador Mining (ASX:MZZ) Gold Development Projects.

The project consists of three Newfoundland and Labrador mineral licences comprised of 189 Newfoundland and Labrador mineral claims covering an area of approximately 4,725 hectares.