VANCOUVER, BC, Nov. 3, 2020 /CNW/ - FireFox Gold Corp.
("FireFox" or the "Company") is pleased to announce that it has
started drilling at its 100% held Mustajärvi Gold Project
("Mustajärvi") in the Central Lapland Greenstone Belt (CLGB) in
Northern Finland. This drill
program is part of the 2020 fall-winter drill campaign that is
expected to include up to 1,400 metres of drilling to test new
targets at Mustajärvi followed by approximately 400 metres of
reconnaissance drilling at the Jeesiö Gold Project ("Jeesiö"),
located approximately 40 kilometres to the southeast. The FireFox
technical team has planned this drilling collaboratively with
subject matter experts at GoldSpot Discoveries (TSXV: SPOT)
("GoldSpot").
FireFox has contracted local drilling company Oy Kati Ab
Kalajoki ("Kati Drilling") to complete the program The drill core
will be cut, logged, photographed and sampled at FireFox's field
office in Sodankylä, Finland.
Company geologists will dispatch the samples to the ALS Global
laboratory in Sodankylä for sample preparation and subsequent gold
assay and multielement analysis.
Mustajärvi Drill Program Details
The Mustajärvi Project is situated approximately 17 kilometres
east of the town of Kittilä in flat, glacial till-covered terrain
occupying high ground that is reached via paved highway, making it
easily accessible for a fall drill campaign. The project includes a
Central Zone of gold mineralization defined by historic and FireFox
drilling, but geophysics, gold-in-till anomalies, and FireFox
step-out drilling have defined the system for more than 2
kilometres along strike (see Company news releases dated
January 21, 2019 and November 26th, 2019).
During the summer 2020 program, geologists and geophysicists
from FireFox and GoldSpot collected additional magnetics data and
upgraded the three-dimension modeling of the known mineralization
and its hosting structures. Features of key interest include the
trans-crustal shear zone interpreted to transect the property from
southwest to northeast and crossing structures having different
orientations from east-west to northwest-southeast. While the
deposit is known to occur at a contact between metavolcanic (mafic
and ultramafic composition) and metasedimentary rocks, there is a
significant gabbro body caught up in the shear zone to the west of
the Central Zone.
The recently launched drill program will target structural,
geochemical and geophysical targets in areas that have not seen
drilling in the past. The total amount of drilling planned is
between 1,300 and 1,400 metres split between three target
areas.
Target area 1 is located in the western part of the license,
approximately 900 metres southwest from the known mineralization.
The target is associated with a rheologically competent gabbro
which offers a strong contrast with the surrounding rocks. The
competent gabbro appears to have accommodated deformation by
fracturing, and it is located at an intersection of regional
structures observed in magnetics, the southwest continuation of the
Mustajärvi Shear Zone and northwest-striking D3 faults. This target
area is also associated with anomalous gold, tellurium, and bismuth
in till.
Target area 2 is located on the northern side (footwall) of the
main Mustajärvi mineralization where anomalous till values
(elevated gold, tellurium, and bismuth) are closely associated with
geophysical conductors parallel and in close proximity to known
auriferous lodes. The alteration is interpreted to extend north
into metasedimentary rocks known to host gold elsewhere in the
belt.
Target area 3 occurs within a structurally complex setting in
central Mustajärvi, where the main shear zone deflects, apparently
influenced by crosscutting structures of various orientations. It
is also coincident with a plunging Induced Polarization
chargeability (IP) anomaly and gold nugget anomalies in the
down-ice direction. High grade mineralization (up to 45 g/t gold
over 2m) at Mustajärvi has been
associated with high sulfide intervals that may be expected to
yield IP anomalies.
Jeesiö Drill Program Details
The Jeesiö Gold Project covers approximately 279km2
of the prospective CLGB, proximal to other exciting recent gold
discoveries in Finland. The Jeesiö
properties are positioned along the major regional structure known
as the Sirkka Shear Zone, a trans-crustal structure that controls
the emplacement of most of the orogenic gold deposits in Lapland.
The main Jeesiö targets include the Utsamo and Katajavaara areas.
Utsamo is situated directly between Aurion Resources' Risti and
Launi gold occurrences, while Katajavaara is only two kilometres
southwest from the gold-bearing quartz-sulfide vein system at
Launi.
The reconnaissance drill program is planned to include up to 400
metres in 3 to 4 drill holes in targets at Utsamo, near the Sirkka
Shear Zone. Much of the Utsamo area is covered by swamps and
thicker glacial deposits, and FireFox plans to conduct base-of-till
(BOT) sampling in that area later in the winter. On higher ground
to the south, FireFox geologists collected gold-bearing quartz vein
samples during 2019 and 2020 in an area that will be the subject of
this modest reconnaissance drilling program. The holes planned in
this structurally complex area are based on new information from
the 2020 UAV magnetics survey integrated with the regional
electromagnetics and rock sampling data. The team has interpreted a
large-scale fold in the area that hosts Aurion's Launi gold-bearing
quartz veins on the eastern limb and is cut by late faults that
appear to control anomalous gold samples collected on the FireFox
ground.
For additional details on the Mustajärvi and Jeesiö projects,
please visit the Company's website www.firefoxgold.com.
Quality Assurance
Dr. Petri Peltonen, Exploration
Manager of FireFox Gold, is a qualified person as defined by
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 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.
Patrick Highsmith, Certified
Professional Geologist (AIPG CPG # 11702) and director of the
Company, is a qualified person as defined by NI 43-101. Mr.
Highsmith 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 170,000
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 website and
profile on the SEDAR website at www.sedar.com.
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 the planned drilling meterage 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.