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Firefox Gold Corp
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Close 2019-09-16 C$ 0.145
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Firefox Gold starts drilling at Mustajarvi

2019-09-18 07:47 ET - News Release

Mr. Carl Lofberg reports


Diamond core drilling has started at Firefox Gold Corp.'s 100-per-cent-owned Mustajarvi gold project in the Central Lapland greenstone belt, Finland. This phase of drilling consists of nine planned drill holes, with total length of approximately 1,500 metres. The program has two primary objectives: (1) to follow up the high-grade mineralization intersected earlier this year and to increase the strike length of the mineralization by stepping out beyond the historic mineralization located near the centre of the Mustajarvi property.

The first four drill holes will follow up the high-grade gold mineralization (two metres at 45.1 grams per tonne gold) intersected during the company's phase 1 drilling last winter (see Firefox news release dated Jan. 21, 2019). Of these four holes, two will target the continuation of this high-grade gold zone another 25 m and 50 m downdip, respectively. The remaining two holes are planned to test the strike extent of this mineralization 25 m east and west.

The fifth hole will test the continuation of mineralization encountered in two historical Outokumpu drill holes, one of which intersected 2.7 m at 14.6 g/t Au. Drill hole six will be an attempt to duplicate an Outokumpu hole that intersected 12 m at 2.7 g/t Au despite suffering severe core loss up to 50 per cent. The aim of these holes is to better understand the true width and grades of the near-surface mineralization.

Cautionary note

The historic Outokumpu drilling suffered from significant core loss due to faulting and fracturing; reported widths may not represent true thickness. While the company believes the preceding historical drilling and sampling data are reliable, readers are cautioned that a qualified person (as defined by National Instrument 43-101) has not yet completed sufficient work to verify the historical information, and therefore the information should not be relied upon. Outokumpu data retrieved from the Geological Survey of Finland (GTK) database.

The remaining three holes are stepout holes farther away from the central Mustajarvi mineralization. Two drill holes will be located approximately 450 m northeast from known drilling. These holes will target an interpreted dilational jog along the shear zone which is associated with two distinct geochemical gold-in-till anomalies. Another drill hole will be located 250 m southwest of the central Mustajarvi drill holes. It will target an interpreted flexure in the Mustajarvi shear zone that is associated with a strong IP chargeability anomaly and low resistivity values.

Assay results from these holes are expected during late October and early November.

About the Mustajarvi gold project

The Mustajarvi gold project consists of an exploration permit and exploration reservations covering over 15 square kilometres. The project area is flat, glacial till-covered terrain in the Lapland region of northern Finland, 17 km east of the town of Kittila, with road and power on the property. The project is situated in the Central Lapland greenstone belt, which hosts several recent gold discoveries. The project occupies more than two kilometres of strike length of the Venejoki thrust zone, which is believed to be a splay of the Sirkka thrust zone, an important host to gold mineralization in the belt. The observed gold mineralization, structural setting and work to date support the potential for a high-grade orogenic gold deposit on the Mustajarvi property.

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. 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 No. 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.

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.

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