Nuvau Minerals Hits High Grade Gold
The Gold Bull Sep 10, 2026 7:45
Summary
Nuvau Minerals hit 138.87 g/t gold over 4.45 meters at Matagami's Thunder Mine area — the first gold drilling on this former copper property.
Matagami carries a 10.7M-tonne Cu-equivalent resource, a permitted zinc-copper mine, and a $5M option on a 3,000 tpd permitted mill.
A refreshed Fall PEA will fold in the McLeod DEEP extension, the Bracemac-McLeod restart, new resources, and current base-metal prices.
An Aug 11 internal update pegged NPV at $450M and IRR at 48%, up from the 2023 base-case $116M / 20% — and prices have risen since.
Key points on FireFly Metals
- The speaker uses FireFly Metals as a peer-comparison benchmark for Nuvau Minerals, citing FireFly's roughly $1.37 billion market cap as of the September 9, 2026 video versus Nuvau's ~$50–56 million market cap.
- The guest notes FireFly holds a larger resource base (39.2 million tons at ~2% grade) and operates a 1,500-ton-per-day mill, framing it as evidence that Nuvau is undervalued on a per-asset basis.