FireFox Gold Identifies Potential Gold-Hosting Structures at Naula Project in Lapland, Finland
FireFox Gold Identifies Potential Gold-Hosting Structures at Naula Project in Lapland, Finland
SODANKYLA Ä , FINLAND – (August 9, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or
the “Company”) is pleased to report that it has completed a detailed airborne magnetic survey over its 100%
controlled Naula Project in Lapland, Finland. Naula is a new project for the Company , lying in the western
portion of the Central Lapland Greenstone Belt (CLGB), approximately 13 kilometres west of the town of
Sirkka and 28 kilometres northwest from the town of Kittilä (Figure 1). FireFox has identified several strong
targets at Naula and has applied for exploration permits covering approximately 26 km2.
The FireFox technical team collaborated with GoldSpot Discoveries Corp. (“GoldSpot”)(TSX.V: S P OT. V) in the
interpretation and evaluation of the new survey. Interpretation of the survey data has considerably upgraded
FireFox’s understanding of the geology at Naula, which had been based on widely spaced government
magnetics surveys and limited work by others in the area. The data appear to indicate the presence of at least
two significant NNE -SSW striking structures that had not been previously mapped. If confirmed, such
structures can be highly prospective for gold in Lapland. Flexures in the major structures and their
intersections with other faults are high priority targets for follow-up exploration.
Carl Löfberg, FireFox’s P resident and CEO, commented about the progress at the Naula project, “This new
geophysics bolsters our belief in the potential for gold discovery at this property. Applying new technology in
geophysics and data processing has identified a structural setting that we believe to be analogous to that hosting
the Kittilä gold deposit, which is less than 40 kilometres away from the project. The property is large and at a
very early stage, but we are excited about the opportunity presented by the hard work to come. We expect Naula
to be our sixth permitted project in Lapland during 2023.”
FireFox is currently formulating plans for a till sampling program over the newly identified structural targets.
Coincident anomalies in geophysics and till sampling are common drivers of drill targeting in the search for
gold in Lapland.
Project and Program Details
The Naula Project is located in the western portion of the CLGB , just north of the Sirkka Shear Zone (SSZ).
The geology of the area is comprised of the Kittila ̈ suite volcanics, which is dominated by tholeiitic mafic flows
and graphite bearing mafic tuffites. This volcanic complex is host to Agnico Eagle’s Kittila ̈ gold mine, located
37 kilometres to the east -northeast. The southern boundary of the project area is located less than 2.5
kilometers north from the SSZ, which hosts the nearby historic Saattopora gold mine and numerous other
gold deposits.
The majority of the project area is covered by glacial-fluvial sediments, and the outcrop exposure is extremely
limited. Previous explorers of the property completed only 500 metres of diamond drilling for geological
mapping purposes, and of that, only one of the nine drill holes reached a depth of more than 45 metres .
FireFox’s review of the available data indicates that the project area has multiple structural and lithological
similarities to the central part of the CLGB and the Kiistala shear zone, on which the Kittilä Mine is situated.
Figure 1. Naula Regional Setting
FireFox completed the airborne magnetic survey over the Naula project in early February 2022. The survey
was conducted by the Finnish company Radai , an experienced provider of geophysical surveys using
Unmanned Aerial Vehicles (UAV). GoldSpot and FireFox invested additional effort in the interpretation of the
data with a focus on identifying possible crustal scale structures and related off -setting faults. This type of
structural setting is believed to be prospective for gold mineralization, mimicking the deformation history of
the NNE-SSW striking Kiistala shear zone and other significant gold-hosting structures in the region. The 3D
inversion of the magnetics reveals at least t wo significant linear patterns of magnetic low that strike NNE
across the property. The westernmost of these is much more s ignificant than the eastern one. Potentially
favorable targets occur along that structure where it deflects or intersects with other faults (Figure 2).
In addition to the NNE -SSW major structures, the survey confirmed the presence of numerous NW -SE
structures that had been mapped in the area. These are roughly parallel to the throughgoing SSZ and may be
related splays of that giant fault system, which is believed to be earlier than the NNE-SSW shear zones (often
called a D3 or third deformation event).
Naula had previously been part of a much larger exploration reservation, and FireFox has applied for an
exploration permit covering approximately 26 km2 of what it considers to be the highest priority ground in
the area. Once granted, the permit will allow for mechanized exploration such as base of till (BoT) sampling
and diamond core drilling.
Figure 2. Naula Targets
Qualified Person
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.
Dr. Sven Ho ̈ nig, Certified European Geologist (EFG EurGeol Title # 1789) and General Exploration Manager
of the Company, is a qualified person as defined by National Instrument 43- 101. Mr. Ho ̈ nig has supervised
the field work reported herein and has helped to 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. 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 huge 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.sedar.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, 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 intent to conduct
additional drilling; the belief as to the location of the most prospective gold targets; the location of targets for
future drill program s; and the current and future work program, including the extent and nature of
exploration to be conducted in 2022. 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.