Firefox Identifies TWO +1KM-LONG GOLD Mineralized Zones at Seuru Project
FIREFOX IDENTIFIES TWO +1KM-LONG GOLD MINERALIZED ZONES AT SEURU PROJECT
VANCOUVER, BC – (Jan 15, 2019) – FireFox Gold Cor p. (TSX-V: FFOX) (“FireFox” or the “Company”) is
pleased to announce the first exploration results from its highly prospective Seuru Gold Project (“Seuru”)
within the Central Lapland Greenstone Belt, Finla nd. FireFox’s 2018 field program at Seuru included a
prospecting and surface sampling program at the Selkä Property, situated 10 km E -SE of the Kittil ä Mine,
Europe’s largest primary gold producer 1. Results of sampling in this area were integrated with historic
exploration results from the Geological Survey of Finland (GTK) and Outokumpu Oy, resulting in the
identification of two broadly SSE -NNW-trending gold-mineralized zones associated with hydrothermally
altered graphitic tuffs (see Figure 1: https://bit.ly/2SUDo46):
1) The 1-km-long eastern zone, named Selkä -E, is characterized by sericite alteration and resistivity
lows;
2) The western 1.4-km-long Selkä-W zone is characterized by sericite and carbonate alteration and co-
incident geophysical anomalies; a magnetic high and a resistivity low.
“We are very excited about these preliminary results on the Selkä Property,” commented Carl Löfberg, CEO and
Director of FireFox Gold. “ The FireFox team is currently planning a ground magnetic survey, which is to be
followed eventually by Induced Polarization (IP) surveys over both the Selkä-E and Selkä-W mineralized zones.
Based on the results of these detailed geophysical surveys, the team will design the first phase of drill testing.”
FireFox has submitted an application for a 471.62-hectare exploration permit within the 2,267-hectare Selkä
reservation area. The exploration permit will allow more intensive field work, such as drilling.
Geology and Program Details
The Selkä area is underlain by the same types of meta-volcanic and meta-sedimentary rocks that host Agnico
Eagle’s Kittilä Mine, which contains approximately four million ounces in remaining gold reserves2. These
rocks consist mainly of mafic to intermediate meta-volcanic rocks, graphite-sulfide-bearing cherts and tuffs.
Gold mineralization occurs within quartz -sulfide-carbonate veins or within pervasively altered host rocks.
Hydrothermal alteration related to gold transportation and deposition has resulted in intense sericitization,
carbonation, and albitization of the supracrustal sequences. The Selkä area is characterized by numerous
SSE-NNW and N-S trending bands of mafic volcanic and graphitic chert that are clearly visible in geophysical
1,2 Retrieved from: https://www.agnicoeagle.com/English/operations-and-development-projects/operations/kittila/default.aspx
January 8, 2019.
images. These, together with generally E-W and ENE-WSW striking faults, are believed to provide the major
structural control on gold transportation and deposition in the area.
Exploration was initially drawn to the region as a result of an extensive – 20 km long – regional gold-in-till
anomaly that extends from the Kittilä Mine to the Selkä area. Between 2002 and 2009, the GTK invested an
estimated US $700,000 in several phases of exploration . That work included prospecting, geological
mapping, Bottom -of-Till sampling, geophysical surveys, and reconnaissance diamond core drilling. The
results generated numerous gold showings in the Selkä area.
Significant highlights from these historic results include:
• Till samples with grades up to 0.47g/t Au at Selka -E.
• Short reconnaissance drill intersections: 1 metre averaging 2.42 g/t Au; 1 metre averaging 3.06 g/t
Au; and 1 metre averaging 1.43 g/t Au at Selkä-E.
• At Selkä-W, samples from a total of 1,133 metres of trenching yielded high gold grades. Continuous
channel samples across goethite -carbonate-quartz or pure quartz -veins yielded 1 metre averaging
4.0 g/t Au; 1 metre averaging 6.16 g/t Au, and 3 metres averaging 28.2 g/t Au (or 6 m @ 14.3 g/t Au).
• Individual chip samples from trenches returned values up to 6.75 g/t Au, 15.2 g/t Au, and 27.9 g/t
Au from the same goethite-carbonate-quartz veins at Selka -W.
• These high-grade zones encountered in Selka W were not drill tested.
Historic exploration results may not reflect FireFox’s actual exploration results. FireFox has not yet 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, trench, and rock sample results are cited to indicate the potential character
of gold mineralization in this part of the CLGB.
During summer 2018, the FireFox team commenced a sampling program on the Selkä mineral exploration
reservations area and collected and analyzed 112 grab samples, 283 till samples (using a portable Cobra
percussion drill), and 19 heavy mineral samples. Detrital gold grains recovered from the heavy mineral
samples are frequently angular and mottled, implying short glacial transportation distances.
As part of this program, FireFox geologists collected grab samples of quartz-sericite-goethite altered material
from float in the vicinity of the covered historic GTK trenches. The FireFox grab samples yielded up to 4 g/t
Au.
Quality Assurance
The rock samples are typically 1 to 2 kg chip samples from the freshest rock that was achievable at each site.
FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were
first crushed to -2 mm, split and pulverized, before being shipped to a facility in Ireland for gold, platinum,
and palladium analysis by lead collection fire assay of 30 gm aliquots with ICP -AES finish. Other elements,
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altogether 48, were measured after four -acid digestion by ICP -AES and ICP -MS (ME-MS61 package). ALS
Laboratories is a leading international provider of assay and analytical data to the minin g 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 insertion of certificated standard material and
blanks into the analytical batches, which did not show deviations from recommended values.
In addition, historical gold assays and the available associated information on analytical methods and QA/QC
protocols were retrieved from the public GTK data base (http://en.gtk.fi/) and reviewed prior to
incorporation into the Seuru/Selkä database. These data are believed to be of good quality and suitable for
reconnaissance work. While not certain of the quality assurance and quality control measures in place by the
GTK at the time, t he Company is not aware of any other factors that could materially affect the accuracy or
reliability of the data disclosed in this news release.
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 Seuru Project
including the Selkä area 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 the Seuru Gold Project
The Seuru Project consists of six separate mineral exploration reservations covering 50,664 hectares. The
Selkä Exploration reservation (2,267 hectares) and Selkä Exploration Permit application (471.62 hectares),
as well as Kulovaara Exploration reservation (547 hectares), were staked by FireFox and are not subject to
any option payments or obligations to other parties. On the remaining Seuru properties (47,850 hectares),
FireFox can earn a 100% interest in the Properties by making payments of up to CAD $20 0,000 in cash and
the issuance of 1,500,000 shares of the Company to Magnus Minerals over a three -year period, while
investing CAD $1,500,000 in mineral exploration on the Properties. Magnus will retain a 1.5% NSR royalty
on production from the Properties, 0.5% of which can be purchased for 1,000 troy ounces of gold on these
properties.
Additional details on the project are available from the Company’s website, www.firefoxgold.com.
New Property Reservations
FireFox is also pleased to report that it has applied for an additional exploration reservation that includes
two land packages totaling 22,231 hectares proximal to the Company’s Mustajärvi and Jeesio gold projects
in the Central Lapland Greenstone Belt. (See Figure 2: https://bit.ly/2AKCwrI)
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. In addition to its 100% owned Mustajärvi Project, FireFox
has entered into option agreements with Magnus Minerals Ltd., a 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 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. The
Company also controls over 26,000 hectares of exploration reservations and exploration permits held
directly by its Finnish subsidiary.
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 Löfberg”
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: exploration results, 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 industry. Forward-looking statements in this release may include statements regarding the potential scale
and orientation of the mineral system, future exploration programs and the timing thereof including drill testing
of exploration targets, operation al plans and Finnish mining prospects. Although we believe the expectations
reflected in our forward-looking statements are reasonable, actual results may vary. The forward -looking
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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 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.
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 a dvanced by other companies, the mineralization on properties nearby
FireFox’s land packages is not necessarily indicative of mineralization on FireFox’s properties.