Firefox GOLD Identifies New GOLD T Argets from Till Sampling ON Its Jeesiö GOLD Project and Commences Drilling at Must Ajärvi GOLD Project , Northern Finland
FIREFOX GOLD IDENTIFIES NEW GOLD T ARGETS FROM TILL SAMPLING ON ITS
JEESIÖ GOLD PROJECT AND COMMENCES DRILLING AT MUST AJÄRVI GOLD PROJECT ,
NORTHERN FINLAND
VANCOUVER, BC – (27 DECEMBER, 2018) – Following its successful Initial Public Offering, FireFox Gold
Corp. (TSX-V: FFOX) (“FireFox” or the “Company”) is pleased to report new gold targets from its recently
compiled geochemical database for its Jeesio Gold Project in the Central Lapland Greenstone Belt (CLGB) of
Northern Finland. Five new targets have emerged from new interpretations of geochemistry and geology ,
two of which are closely associated with the Sirkka and Venejoki Thrust Zones (STZ and VTZ). These major
structures are known to host several of the gold deposits in the CLGB1.
The new database for the Jeesio Project now includes 2,751 samples with gold analyses, many being
accompanied by a full suite of pathfinder elements. The database includes 838 new till samples from the
Company´s now-completed Bottom -of-Till (BOT) sampling program s, and 786 gold and multielement
analyses of historical Geological Survey of Finland (GTK) samples that were not previously analyzed for gold.
Furthermore, the database includes 1,127 previously unpublished gold analyses purchased from the GTK.
“Our initial sampling and data compilation programs at Jeesio have been very successful outlining numerous
new targets for follow-up exploration,” commented Carl Lo fberg, Chief Executive Officer of FireFox. “The new
prospects are called: Utsamo, Utsamovaara, Homelampi, Jeesio West, and Kokko. We have already conducted
follow-up BOT sampling at the Utsamo and Homelampi targets, extending the previously identified gold-in-
till anomalies. This new data improves our understanding of the major controlling structures in the CLGB
and is helping us focus on drill targets for the near future.”
A map of the new targets can be found here: https://bit.ly/2O29Za0.
FireFox is also pleased to report that it has commenced a diamond drill program at its Mustaja rvi gold project,
located approximately 10 kilometres northwest of the central Jeesio property. Additional details on the drill
program will be reported in the first quarter of 2019.
Geology and Program Details
The Jeesiö Project is located near the southern margin of the CLGB. The northern portion occupies a poorly
exposed package of highly deformed Paleoproterozoic-aged mafic volcanic and sedimentary rocks . These
rocks underwent three ductile compressional events during the period 1.79-1.92 billion years ago, followed
by one or more stages of brittle deformation. The earliest two phases of ductile compression produced thrust
faults, the most important of which are the STZ (north) and VTZ (south), both of which have been traced for
more than 100 kilometres2.
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The southern portion of the Jeesiö Project overlies Archean-aged volcano-sedimentary complexes, which are
also covered by a few met res of till . Outcrop is very scarc e and till sampling is therefore a very effective
method of geochemical exploration in the region. The gold content of till samples in the Jeesiö Project area is
relatively high; 385 samples in the Project database exceed regional background of 10 ppb Au in till.
Homelampi is an historical target that has seen only limited exploration. It is located along the VTZ and gold
anomalies in the historic GTK databases suggest there is significant gold dispersed in the local till . The
mineralization encountered at Homelampi is associated with chromium-rich fuchsite quartzites. The mineral
fuchsite is often associated with orogenic gold mineralization3. Homelampi underwent limited drill-testing
in the early 1990´s by four short diamond drill holes, only one of which is preserved. According to the drill
logs, low-grade gold was observed in all four drill holes associated with fuchsite, with the best intersection
returning 0.3 ppm Au over 2.07 metres.
Historic exploration results may not reflect actual exploration results. FireFox has not done sufficient work to
verify the historical sampling discussed here. While the Company believes the data were generated
professionally and consistently with good practice of the day, unverified historic results are not to be relied upon.
These historic drill hole results are cited to indicate the character of gold mineralization in this part of the CLGB.
During actual mining, there may be internal waste and dilution that is not reflected here.
After completion of the Company´s recent BOT sampling program, the anomalous gold zone at Homelampi
now measures approximately 1,300 by 400 metres (defined by gold grades in excess of 100 ppb Au in till) ,
highlighted by till samples containing 601 and 1,070 ppb Au.
The STZ is interpreted to be offset by secondary structures that cross the Company´s Jeesiö NE tenement
area. Along these structures, the Company has identified new zones of highly anomalous gold-in-till values,
designated the Utsamo and Utsamovaara targets. Anomalous till samples in the area range from 21 to 454
ppb Au and are coincident with a 2.8-kilometre-long trend that follows the contact between mafic intrusive
rocks and metasediments.
The Company continues its exploration activities at the Jeesiö Project, including additional till sampling,
trenching, and geophysical surveys with the goal of identifying integrated drill targets by later this year.
Additional details on the project are available from the Company’s website, here.
Quality Assurance
The BOT sampling was conducted using a track-mounted percussion drill rig or a man-portable Cobra drill.
The drill rig was operated by Moreenityo Ma cklin Oy, an independent contractor with 30 years of experience
in soil and bedrock sampling in glaciated terrains. The Firefox QA/QC program consisted of insertion of
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certificated standard material and blanks into the analytical batches, which did not show deviations from
recommended values.
ALS Laboratories, a leading international provider of ass ay and analytical data to the mining industry,
provided the assay and geochemical data presented in this news release. The FireFox samples were first
prepared in Finland and then then sent to Ireland for analysis. The samples were first screened to -180 µm
and dried at 60 ° C and then analyzed by the AuME-TL43 method, utilizing an aqua regia digestion with an
ICP-MS finish. All ALS geochemical hub laboratories, including the Irish facility, are accredited to ISO/IEC
17025:2017 for specific analytical procedures.
The historical GTK samples were assayed at the Labtium Laboratory, Finland, which is accredited to the SFS-
EN ISO/IEC 17025:2005 standard . The quality system of Labtium also complies with the requirements of
Standards Council of Canada (CAN -P-1579) “Guidelines for Accreditation of Mineral Analysis Testing
Laboratories”. (Both ALS Laboratories and the Labtium Laboratory are independent of Firefox.)
Carefully mixed and split five-gram subsamples of original samples from the archives of GTK were digested
in hot aqua regia, and analysed by ICP-OES and ICP-MS techniques for a large suite of elements, excluding
gold (method 515PM). Gold was subsequently analysed by an aqua regia digestion and GFAAS finish in order
to achieve a detection limit of 0.5 ppb after separation and co-precipitation (method 515U).
In addition, historical gold assays derived from the GTK data that were included into the Jeesio database are
believed to be of good quality, and thus suitable for reconnaissance work. However, details of the analytical
methods applied and QA/QC protocols in place at the time remain poorly documented. The Company is not
aware of any other factors that could materially affect the accuracy or reliability of the data disclosed in this
news release.
Qualified Persons
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 2018 field program at the Jeesiö Project
and has helped prepare and approve 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 approve
the technical information in this news release.
About FireFox Gold Corp.
FireFox is an exploration-stage mining company listed on the TSX Venture Exchange and focused entirely on
gold exploration in Finland. The Company has entered into option agreements with Magnus Minerals Ltd., a
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private prospect generator company in Finland, through which it has options to acquire 100% interests in
several projects (subject to an NSR royalty) that currently encompass approximately 104,000 hectares, in
addition, to approximately 4,000 hectares of exploration reservations and exploration permits held directly
by the Company. In order to complete the combined options, the Company must invest CAD $4.0 million in
exploration on the properties and make cash payments to Magnus totaling up to CAD $450,000 over the
course of the two separate three-year option periods.
Finland is one of the top mining jurisdictions in the world as indicated by its 1st ranking in the 2017 Fraser
Institute Survey 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.
On behalf of the Board of Directors,
“Carl Lo fberg”
Chief Executive Officer
CONTACT:
FireFox Gold Corp.
Email: [email protected]
Telephone: 604-558-7687
Forward Looking Statements: The information in this news release 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, costs and supply of materials relevant to the mining industry,
change in government and changes to regulations affecting the mining indus try. Forward-looking statements in this
release may include statements regarding drill testing of high-priority targets and identified till anomalies at Jeesiö in the
near future. Although we believe the expectations reflected in our forward -looking statements are reasonable, results
may vary. The forward looking statements contained in this press release represent the expectations of FireFox as of
the date of this press release and, accordingly, are subject to change after such date. Readers should not pla ce 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.
It should also be noted that while FireFox ’s properties are sometimes adjacent to or nearby operating or historic gold
mines or active gold projects being advanced by other companies, t he mineralization on properties nearby FireFox ’s
land packages is not necessarily indicative of mineralization on FireFox’s properties.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR
DISSEMINATION DIRECTLY , OR INDIRECTLY , IN WHOLE OR IN PART , IN OR INTO THE UNITED STATES.
1,2,3 Awmack, H., 2018 Technical (N.I. 43-101) Report on the Jeesiö Property. (September 17, 2018) Retrieved from:
http://SEDAR.com.