VANCOUVER, BC, July 27, 2020 /CNW/ - FireFox Gold Corp.
("FireFox" or the "Company") is pleased to provide an update on its
summer exploration program, including the commencement of the
next-generation integrated interpretation and targeting exercise
for the Company's gold projects in the Central Lapland Region of
Finland.
FireFox has engaged GoldSpot Discoveries Corp. (TSXV: SPOT)
("GoldSpot"), a leader in utilizing artificial intelligence for
target generation in mineral exploration. GoldSpot will apply
machine learning and its proprietary expertise to delineate new
drill-ready targets for orogenic gold mineralization, as well as
identify prospective areas regionally. The process will involve
analyzing all available geological and remote sensing data from
FireFox's properties, including information from the current field
program such as the results of the ongoing high-resolution airborne
magnetics survey. GoldSpot will work closely with the FireFox
technical team, as well as FireFox's Technical Advisor and orogenic
gold specialist, Dr. Richard
Goldfarb.
FireFox's chairman, Patrick
Highsmith, remarked on the alliance with GoldSpot, "We
are very excited to unleash GoldSpot's cutting-edge technology on
our gold projects in northern Finland. Our new integrated team encompasses
FireFox's deep Finland expertise
and more than 120 years of economic geology experience, and the
structural geology, geophysics, geochemistry, and technology mavens
from GoldSpot. We believe the future of gold discovery will
be driven by high-quality data, technical excellence, and smart
application of machine learning."
Denis Laviolette, Executive
Chairman and President of GoldSpot Discoveries, commented
"GoldSpot Discoveries is excited to bring our big data solution
to Finland, a world class mining
jurisdiction that is notoriously rich in data. We believe FireFox's
gold projects have incredible potential and GoldSpot will be able
leverage its team and technology to unlock significant value. We
believe GoldSpot's approach to integrating FireFox's existing and
newly generated datasets with the Geological Survey of Finland's impeccable geodatabase (which
includes over 130 years of historical data), will provide FireFox
with a significant advantage over other explorers in the
area."
GoldSpot's subject matter experts will homogenize, integrate,
process and interpret exploration datasets such as mapped or logged
lithology, geophysics, surface and downhole geochemistry, and
structural data. These interpreted and derived products will be
used as input layers to GoldSpot's proprietary AI (machine
learning) techniques, which will then be validated by their team of
expert geoscientists, in collaboration with the FireFox
team.
Summer Exploration Program Update
FireFox is also pleased to report that its previously announced
summer exploration program is well underway. The 2,100
line-kilometre unmanned aerial vehicle (UAV) based magnetic survey
is approximately 50% complete with results expected by the middle
of August (see news release dated July 14,
2020 and note revision to 2,100 from 1,100 line-kilometres).
Trenching is underway at the Jeesiö Project and the reconnaissance
mapping and sampling program is ongoing. Several batches of samples
have already been dispatched to the laboratory for gold and
multi-element analyses.
Quality Assurance
Patrick Highsmith, Certified
Professional Geologist (AIPG CPG # 11702) and director of the
Company, is a qualified person as defined by National Instrument
43-101. Mr. Highsmith has helped prepare, and approves, the
technical information in this news release.
Dr. Petri Peltonen, Exploration
Manager of FireFox Gold, is a qualified person as defined by
National Instrument 43-101. Dr. Peltonen has supervised the
collection and interpretation of the technical data generated in
the Company's field program and has helped prepare, and approves,
the technical information in this news release.
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture stock exchange
under the ticker symbol FFOX. The Company is focused entirely on
gold exploration in Finland where
it is exploring its project portfolio that includes over 150,000
hectares of prospective ground.
Finland is one of the top
mining investment jurisdictions in the world as indicated by its
multiple top-10 rankings in recent Fraser Institute Surveys of
Mining Companies. Having a strong mining law and long mining
tradition, Finland remains
underexplored for gold. Recent exploration results in the country
have highlighted its prospectivity, and FireFox is proud to have a
Finland based CEO and technical
team.
For more information, please refer to the Company's profile on
the SEDAR website at www.sedar.com.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology and
investment company that leverages machine learning to reduce
capital risk while working to increase efficiency and success rates
in resource exploration and investment. GoldSpot combines
proprietary technology with traditional domain expertise, offering
a front-to-back service solution to its partners, and in some
cases, capital to finance exploration programs. GoldSpot's
solutions target big data problems, making full use of historically
unutilized data to better comprehend resource property potential.
For more information see www.goldspot.ca .
On behalf of the Board of Directors,
"Carl Löfberg"
Chief Executive Officer
Forward Looking Statements
The information herein contains forward looking statements that
are subject to a number of known and unknown risks, uncertainties
and other factors that may cause actual results to differ
materially from those anticipated in our forward-looking
statements. Factors that could cause such differences include:
changes in world commodity markets, equity markets, the extent of
work stoppage and economic impacts that may result from the COVID
19 virus, costs and supply of materials relevant to the mining
industry, change in government and changes to regulations affecting
the mining industry.
Forward-looking statements in this release may include
statements regarding: the current and future work program,
including the extent and nature of exploration to be conducted in
2020, as well as receipt of survey results on the properties
described. Although we believe the expectations reflected in our
forward-looking statements are reasonable, results may vary. The
forward-looking statements contained herein represent the
expectations of FireFox as of the date of dissemination and,
accordingly, are subject to change after such date. Readers should
not place undue importance on forward-looking statements and should
not rely upon this information as of any other date. FireFox does
not undertake to update this information at any particular time
except as required in accordance with applicable laws.
SOURCE FireFox Gold Corp.