FireFox Gold Extends Strike of High-Grade Gold with 2020 Drilling at Mustajärvi Gold Project, Finland
FireFox Gold Extends Strike of High-Grade Gold with 2020 Drilling at
Mustajärvi Gold Project, Finland
VANCOUVER, BC – (January 27th, 2021) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to report
the results of its nine-hole (1,370 metre) phase 3 core drilling program at its 100% owned Mustaj a rvi Gold
Project in the Central Lapland Greenstone Belt, Finland (“Mustaja rvi” or the “Project”). The Project continues
to yield shallow narrow high-grade intercepts, such as 2.0m at 33.25 g/t gold and 0.5m at 9.36 g/t gold in
drillhole 20MJ009 and 0.5m at 11.20 g/t gold in 20MJ008.
New high-grade intercepts extend the strike of known high-grade gold along the shear zone to more than 1.5
kilometres (see Figure 1: https://bit.ly/36bdH8c). One of these new intercepts falls within the Central Zone,
which has previously yielded intercepts as high as 2.0m at 45.1 g/t gold in drillhole 18MJ010 (see Company
news release dated Jan. 21, 2019).
“The results from our third drill program at Mustajärvi continue to be encouraging, and our understanding of
the complex structural controls is growing,” commented Carl Lo fberg, President and CEO of FireFox. “Notably,
the Northeast Target, which has seen very little work so far, is returning very interesting gold results. The team
is engaged in detailed geological and structural modeling aimed at updating our interpretation of the key
controls on the high-grade gold. The detailed ground magnetics has been helpful in identifying these structures,
and we expect to conduct additional geophysical surveys and till sampling before the next phase of drilling.”
Table 1: Summary of Significant High-Grade (>4.0 g/t Au) Drill Intercepts
Drill Hole Depth (m) From (m) To (m) Interval* (m) Gold (g/t)
20MJ005 176.2 148.5 148.9 0.4 8.86
20MJ008 200.0 63.7 65.0 1.3** 6.64
and 97.5 98.0 0.5 11.20
20MJ009 178.5 65.0 67.0 2.0 33.25
and 85.0 86.0 1.0 4.47
and 146.5 147.0 0.5 9.36
* - Drilling is believed to be perpendicular to the dip of the mineralization, however true widths
are not yet known and will be confirmed with additional drilling and geological modeling.
** - Including 1.1m of core loss
Details of Drilling and Geology
Mustaja rvi occupies a major right-lateral shear zone that is sympathetic to the trans-crustal Venejoki Thrust
Zone. The Mustaja rvi Shear Zone (MSZ) has associated second and third structures that dissect the Project
into separate structural zones. After FireFox’s structural modeling exercise during the summer of 2020, the
2020 drill holes were designed to test the interpreted dilatant zones created by the complex structural
setting. There are many such narrow traps for high-grade gold mineralization along the structure, and these
high-grade pods are now known to occur from drillhole 20MJ005 to 20MJ009, spanning more than 1.5
kilometres of the shear zone from southwest to northeast.
The 2020 d rilling occurred in four areas of the property, (see Figure 1 : https://bit.ly/36bdH8c) testing
several different types of targets identified in previous drilling and last summer’s exploration program at
Mustaja rvi.
The sparsely drilled Northeast Target returned the best intercepts in this drill program. Drillhole 20MJ009
was a solitary hole aimed at the MSZ, collared approximately 580 metres northeast from the Central Zone
and 58 metres northeast from drillhole 19MJ006 (12 g/t Au over 1.95 metres ; see Company news release
dated Nov. 26, 2019).
Drillhole 20MJ009 passed through the Savukoski Group ultramafic volcanics and across the sheared contact
into the Sodankyla Group siliciclastic metasediments. It encountered several gold mineralized intervals, the
most important of which occurred at 65.0 metres downhole depth (2.0m at 33.25 g/t Au) in a zone of multiple
generations of quartz veining and abundant pyrite, including very high tellurium and bismuth. There is
extensive clay alteration in the high-grade zone, perhaps related to supergene weathering effects. This
interval is geologically similar to the high-grade mineralization reported from drillhole 19MJ006.
Further downhole, there are several narrow high-grade intercepts, including 1.0m at 4.47 g/t gold at 86.0
metres depth and 0.5m at 9.36g/t gold at 146.5 metres downhole depth. As with several of the drillholes,
there are also thicker zones of alteration and weaker gold mineralization, such as at 93.0 metres downhole
depth, where there is a weakly gold-mineralized zone over 6.0 metres associated with quartz -tourmaline
veining and breccia. This interval included assays of 1.53g/t and 0.84 g/t gold, again with anomalous bismuth
and tellurium.
Drillhole 20MJ008 was collared along the MSZ, 32 metres northwest of hole 18MJ010, which cut 2.0 metres
of massive pyrite averaging 45.1 g/t gold. At 63.0 metres downhole depth in 20MJ008, a highly fractured zone
of massive pyrite yielded 1.3m at 6.64 g/t gold (including 1.1 metres of core loss). Deeper in the hole (97.5
metres downhole), another intercept cut 0.5m at 11.2 g/t gold. Like much of the higher grades in the Central
Zone, the best g old mineralization is associated with massive to semi-massive pyrite in strongly altered
siliciclastic metasediments and highly-enriched bismuth and tellurium, up to 445 ppm Bi and 340 ppm Te.
Southwest of the Central Zone, the MSZ bends to the south where it encounters interpreted cross structures
and is marked by a strong IP geophysical anomaly. Three drillholes in the 2020 program were aimed at these
targets along the shear zone. Drillhole 20MJ005 was collared approximately 150 metres southeast from the
shear zone. The hole intersected albitized, silicified and iron-carbonate altered pyrite -bearing ultramafic
tuffites of the Sodankyla Group. At 148.5 metres downhole depth, a 0.4 metre pyrite-rich interval included
8.9 g/t gold, accompanied by 0.25% cobalt, anomalous nickel, bismuth, and tellurium. Higher in the hole,
there are several zones of anomalous gold including an approximately 10 metre thick interval (inclusive of
1.2 metres of core loss) with assays as high as 0.641 g/t gold. Two additional holes in the area (20MJ004 and
20MJ006) intersected the sheared contact between mafic volcanics and metasediments , including quartz -
pyrite±tourmaline veins, but only weakly mineralized for gold.
The remaining drillholes did not return significant gold intercepts but contributed to mapping the MSZ and
confirming alteration in the gabbro on the west end of the Project.
Table 2 includes the coordinates, direction, and dip of the phase 3 drill holes on the Project.
Table 2: Phase 3 Drill Collars. Coordinates presented in EPSG:3067
Drill Hole Easting Northing Azimuth (°) Dip (°)
20MJ001 427597 7500274 335 45
20MJ002 427640 7500291 335 45
20MJ003 427057 7499762 330 45
20MJ004 427454 7499826 330 45
20MJ005 427508 7499742 330 45
20MJ006 427438 7499877 330 45
20MJ007 427557 7500041 330 45
20MJ008 427716 7500191 340 45
20MJ009 428335 7500581 340 45
Quality Assurance
The core was transported from the rig to the Company´s core storage facility in Sodankyla , where FireFox’s
exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay
intervals were generally 1 m etre but in some circumstances were modified according to lithological
boundaries and other factors. FireFox geologists maintained chain of custod y and sampling procedures
reported in this news release according to best industry practice and with due attention to quality assurance
and quality control, including sampling field duplicates and insertion of certified standard and blank samples.
FireFox team members transported the samples to an ALS sample prep lab in Sodankyla . The samples were
first crushed to -2 mm, split and pulverized, before being shipped to a facility in Ireland for gold by fire assay
of 30 gm aliquots with AAS finish (method Au-AA23). Gold values which exceeded 10 ppm were assayed with
fire assay and gravimetric finish (method Au -GRA21). Other elements, altogether 48, were measured after
four-acid digestion by ICP-AES and ICP-MS (method ME-MS61). ALS Laboratories is a leading inte rnational
provider of assay and analytical data to the mining industry. All ALS geochemical hub laboratories, including
the Irish facility, are accredited to ISO/IEC 17025:2017 for specific analytical procedures. The Firefox QA/QC
program consists of inser tion of certificated standard material and blanks inserted by Firefox into the
analytical batches did not show deviations from recommended values.
Dr. Petri Peltonen, Technical Advisor to 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 on the Mustaja rvi Project 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 National Instrument 43-101. Mr. Highsmith has helped prepare, and approves,
the technical information in this news release.
About the Mustajärvi Gold Project
The Mustaja rvi Gold Project (the “Project”) consists of an exploration permit and exploration permit
application totaling 2.68 km 2. The project area is flat, glacial till -covered terrain in the Lapland region of
northern Finland, 17 kilometres 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 strike length of the Mustaja rvi Shear Zone, which is believed to be a splay
of the Venejoki Thrust Zone and related to 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 Mustaja rvi property.
For additional details on the Project, please visit the Company’s website www.firefoxgold.com.
About FireFox Gold Corp.
FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company
has been exploring for gold in Finland since 2017 where it holds a 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
CONTACT:
FireFox Gold Corp.
Email: [email protected]
Telephone: +1-778-244-8439
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 conducte d 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.