FireFox Gold Employs Borehole and Fixed Loop EM Geophysics to Identify New High-Grade Targets at the Mustajärvi Gold Project, Finland
FireFox Gold Employs Borehole and Fixed Loop EM Geophysics to Identify New
High-Grade Targets at the Mustajärvi Gold Project, Finland
SODANKYLA , FINLAND – (February 20, 2025) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox”
or the “Company”) is pleased to report results from borehole (BHEM) and fixed loop (FLEM) electro-magnetic
geophysical surveys executed at the East Target of the Mustaja rvi Gold Project in Finland. The purpose of the
surveys was to identify new drill targets for high-grade gold that may be associated with highly conductive
rocks. Rocks that are high in pyrite tend to be conductive of electricity, making them excellent targets for
these types of electromagnetic (EM) systems. The high-grade gold at Mustaja rvi, encountered in numerous
drill holes since 2019, is almost always associated with high concentrations of pyrite.
Highlights of the successful campaign include:
• The observation that interpreted zones of semi-massive to massive pyrite (conductive zones)
continue to the north and along strike beyond current drilling;
• Recognition of a persistent conductive horizon parallel to the Mustaja rvi Shear Zone but over 400
metres south from the southernmost FireFox drillholes; and
• Two newly identified strong drill targets related to electrical conductors near to previously drilled
holes.
FireFox Chairman and Co -Founder, Patrick Highsmith, commented on the geophysical survey, “ The
significance of a small geophysical survey like this is that we can test the technology over known high -grade
mineralization and look for extensions and analogues. In this case, the FLEM and BHEM suggest the presence of
more high sulphide targets both close to existing drilling and well away from existing drilling. We look forward
to applying the method along more of the key structures at Mustajärvi. Between our careful application of
structural geology, geochemistry, and geophysics, our technical team is confident that we have a long list of
high-quality drill targets at Mustajärvi for 2025.”
Fixed-loop EM Results
The FLEM survey consisted of two NW-SE oriented surface profiles (Lines 1 and 2) with stations located every
50 metres, in this case yielding a total of 25 stations (Figure 1). An electrical source loop is used to induce
current into the ground, and three directional components of the electromagnetic field are measured during
data collection. The survey lines were oriented perpendicular to the orientation of the throughgoing
Mustaja rvi Shear Zone (MSZ), which is also the contact between the metasedimentary rocks of the Sodankyla
Group to the north and the mafic and ultramafic volcanic rocks of the Savukoski Group rocks to the south.
The survey lines also pass through the high -grade near-surface gold mineralization at the Mustaja rvi East
Target.
The electromagnetic survey maps electrical conductivity, and more conductive rocks are considered
prospective because of the possible presence of sulphide minerals, such as pyrite. Geophysicists model the
Figure 1. Location of the BHEM and FLEM surveys at the Mustajärvi East Target, showing drillholes.
conductive targets as “plates” to simulate a simple tabular shape for the conductive volume of rock. The FLEM
survey identified multiple conductive plates that strike in a northeasterly direction and dip to the south.
These plates have been interpreted as multiple stacked potential sulphide -rich horizons within the shear
zone and in related dilatant zones ( Figure 2). This is consistent with the stratabound nature of the gold
mineralization so far drilled at Mustaja rvi.
The FLEM survey was successful at identifying relatively near-surface and proximal extensions from known
high-grade and high-pyrite zones at the East Target. One such possible semi-massive to massive pyrite plate
(FLEM #1) measuring approximately 65 by 250 metres was interpreted as extending from known high-grade
gold in the East Target.
Another target plate is made up of steeply SE dipping conductors, whose extents were estimated to be roughly
125 by 95 metres (FLEM #2). This zone is located on the southern side of drillholes 23MJ008 and 23MJ010
(Figure 2) at a likely depth of 40 to 130 metres.
Other conductive plates are more subtle (FLEM #3 and 4) , perhaps due to greater distance from the
transmitter and receivers, but the larger scale target plates are aligned consistent ly with the orientation of
the shear zone. Drilling at the East Target has been closely spaced, so the encouraging FLEM survey results
upgrade the need to drill these interpreted conductors farther north and east where the conductive rocks are
projected onto the new exploration permits.
Figure 2. 3D Perspective view of Mustajärvi East gold shapes (looking NE) with EM targets.
Borehole EM Results
FireFox has made limited use of downhole electromagnetic surveys at the Mustaja rvi project, but those
earlier surveys demonstrated correlation between gold mineralization and highly conductive zones.
However, most of the focus to date has been on near-surface exploration, where high-grade gold has been
repeatedly discovered in shallow drill holes and trenches based on ground magnetics and surface
geochemistry. As the team has successfully drilled gold to greater depths, such as the intercepts reported in
2024 to more than 250 metres below surface (see Company news release dated February 28, 2024), the team
elected to conduct another BHEM survey around existing deeper boreholes where ground magnetics cannot
penetrate.
In this most recent BHEM campaign, three drillholes in the East Target (23MJ011, 23MJ012 and 23MJ013)
were surveyed with one 350 by 300 metre transmitter loop to measure conductivity responses in and around
the boreholes (Figure 1 ). These holes were chosen for the survey because they contained deeper gold
mineralization and the holes comprise a NNW-SSE oriented drill fence , facilitating better interpretation of
results. Holes 23MJ011 and 23MJ012 were collared at the same location and drilled in the same direction but
with the latter drilled at a steeper angle. Hole 23MJ013 was collared approximately 75 metres southeast from
these holes.
Each of the surveyed holes provided information about the presence of conductors that have not been drill-
tested. The BHEM survey identified multiple conductive plates that strike in a northeasterly direction and dip
to the south. This orientation again parallels the MSZ. These conductive plates are likely indications of high
concentrations of sulphide minerals along the key structure. The plates are shown along the MSZ in Figure 2
relative to the outline of drill indicated gold. Not only do the targets offer encouragement along strike and
down dip, but they also support the concept of multiple high-sulphide zones stacked within the host rocks.
The BHEM survey results for the three drill holes in the East Target identified several moderate to strong
conductors, some of which were clearly related to known drill intercepts of high sulphide mineralization in
these holes. In several cases, the survey detected what are called off-hole conductors, conductive bodies that
are discrete and detached from the drill holes. As shown in Figure 2, the off -hole conductor targets occur at
moderate depths, between 90 and 215 metres below surface.
One significant off-hole conductor was detected near drill hole 23MJ013 (BHEM #1) at 180 to 215 metres
below surface (BHEM #1) . This plate corresponds well with a mineralized interval reported of 13.5m
averaging 3.16 g/t gold in a Company news release dated February 28, 2024. This intercept occurred just
below the major structural contact between the Savukoski and Sodankyla group rocks, where semi-massive
to massive pyrite was noted. This structural zone has already proven to be an important host of gold, and the
team is excited to see this geophysical survey prove so useful in identifying such conductive zones.
Another off-hole target, which is obscured in the figure, was extremely conductive, higher than the model
suggests is possible from the mineral pyrite alone. The presence of significant pyrrhotite or a black shale
could possibly explain such values, but neither of these are known to exist at Mustaja rvi.
Conclusions
The conductor plates appear to confirm a model that the FireFox team has been developing wherein the
sulphide minerals occur in pockets or discontinuous pods of intense accumulation. The conductors can be
seen to pinch and swell along strike and downdip. Similarly, FireFox drilling and trenching has revealed high-
grade gold mineralization having apparently limited continuity, such as the following intercepts:
• 13.85m at 28.74 g/t gold in 22MJ006
• 15.5m at 13.09 g/t gold in 22MJ021
• 12.55m at 14.34 g/t gold in 22MJ025
• 16.45m at 7.69 g/t gold in 21MJ010 and
• 6.87m at 59.12 g/t gold in Trench 2023 - 1.
In each of these cases, pyrite was the primary gangue mineral associated with gold, often occurring in pods
or boudins of semi-massive to massive sulphide. These pods or pockets of sulphide mineralization are exactly
the phenomenon that the new geophysical data appear to be detecting. While drilling at Mustaja rvi has
repeatedly returned drill intercepts averaging more than 10 g/t Au (12 drill holes have exceeded 90 gram -
metres of gold in grade thickness), such high-grade zones are often not continuous over great distances. The
team intends to use more BHEM and FLEM to map these discontinuities and better predict the high -grade
gold in future drill campaigns.
Even though this survey tested only a small section of the Mustaja rvi Shear Zone, the geophysical targets offer
encouragement for drill targets beyond current drilling to the northwest, southeast and downdip (Figure 2).
Not unlike other orogenic gold systems, a challenge at Mustaja rvi is discerning the controls on the bonanza
grade gold . The grade distribution and drill targets are complicated by deflections in the shear zone,
crosscutting structures, and changes in host rock, among other variables. These s mall-scale surveys have
shown the value of both FLEM and BHEM in mapping conductive bodies that conf orm with the controlling
structures and known patterns of high-grade mineralization.
FireFox controls more than 3 kilometres of the MSZ, and widely spaced drilling has returned significant gold
along approximately 1.7 kilometres of that structure. The Company plans to make use of these
electromagnetic methods to fill in between the known h igh-grade gold and to extend exploration along this
shear zone and to analogous structures elsewhere on its tenements. The interpreted FLEM conductive
horizon to the southeast of the East Target appears to follow another major structure that may be analogous
to the MSZ (Figure 3). The technical team is excited to test this feature as it projects to the northeast onto the
Company’s new eastern permits.
Figure 3. Follow-up targets from EM conductors at East Target.
Methodology & Quality Assurance
The borehole and fixed-loop electro-magnetic surveys were conducted by Finnish geophysics provider GRM-
services Oy, by using a TEM transmitter system. The BHEM data was acquired by measuring with the EMIT
DigiAtlantis receiver system and EMIT DigiAtlantis borehole probe , which measure the decaying magnetic
field with three orthogonal Fluxgate magnetometer sensors producing along hole (A -component), and two
perpendicular components (namely U and V- components). The surveys were performed with 5Hz frequency
and 40A current. The ho les were measured in one piece from the collar with surveys having 5 -10 metre
station separations, where the general 10m separation was dropped to 5m separation around the surface -
high-grade gold mineralization.
The FLEM survey was carried out with 50m station separation, where the total number of stations was 25.
Surface profile data was acquired with the EMIT SMARTem24 receiver system and EMIT SMART Fluxgate
sensor, which measure the decaying magnetic field with three orthogonal Fluxgate magnetometer sensors
producing upward pointing (Z -component) and two perpend icular components (namely X and Y -
components). The modelling was done using Maxwell software and plate models. All maps have been created
within the ETRS89-TM35FIN Coordinate System (EPSG:3047).
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, reviewed, and
approved 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. FireFox also
trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has
been exploring for gold in Finland since 2017 where it holds a large portfolio 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.sedarplus.com.
On behalf of the Board of Directors,
“Carl Löfberg”
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: [email protected]
Telephone: +1-778-938-1994
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, equ ity markets, the extent of work stoppage and economic impacts that may
result from illness, extreme weather , changes in government and changes to regulations affecting the mining
industry.
Forward-looking statements in this release may include statements regarding: the intent to conduct
additional drilling; the belief as to the location of the most prospective gold targets; the location of targets for
future drill programs; and the current a nd future work program, including the extent and nature of
exploration to be conducted in 2025. 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.