Gold

FireFox Gold (TSXV:FFOX)

FireFox Gold

TSXV:FFOX

Discoveries in Finland’s New Gold Camp

​​Company Highlights

  • Finland has a strong mining tradition, clearly defined mining laws and world-leading geological technical databases.
  • 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.
  • The Central Lapland Greenstone Belt (CLGB) is an underexplored gold belt highly prospective for numerous multi-million-ounce discoveries.
  • FireFox is focused solely on gold in Finland, controlling approximately 500 square kilometres of key exploration ground in the CLGB.
  • The large land position gives FireFox two paths to discovery – direct exploration and joint venture.
  • The company is advancing multiple exciting gold projects and drilled four separate project target areas in 2022, with bonanza-grade gold in multiple holes at the Mustajärvi project.
  • Leadership exhibits a balance of technical and financial strengths, gold industry expertise and deep knowledge of Finland mining industry.
  • The company is well-structured, with strong institutional support.
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Overview

FireFox Gold Corp (TSXV:FFOX, OTCQB: FFOXF, FSE:A2PDU7) is a resource exploration company with a portfolio of highly-prospective gold projects in Finland. FireFox Gold is a leading tenement holder and one of only a handful of companies actively exploring gold in Finland’s Central Lapland Greenstone Belt (CLGB). The CLGB is an under-explored orogenic gold belt comparable in size to some of the world’s most notable gold-bearing greenstone belts, and the site of a new gold rush. The gold belt may be under-explored, but Finland’s mining industry is well-established. Despite the northern latitude, the infrastructure in the CLGB is remarkable, with highways and powerlines often crossing the projects.

Recent notable discoveries made in the belt by Rupert Resources Ltd (TSX:RUP) and Aurion Resources Ltd (TSXV:AU) are driving a gold rush atmosphere. These discoveries have attracted the interest and investment from major players including Agnico Eagle Mines (NYSE:AEM,TSX:AEM), Kinross Gold Corporation (TSX:K,NYSE:KGC) and B2Gold Corp. (TSX:BTO). Agnico Eagle owns the Kittilä underground gold mine, located in the CLGB, which produces about 175,000 ounces of gold annually. Kinross, B2Gold and others have entered the field via agreements with the tenement-controlling juniors. FireFox holds over 500 square kilometres of tenements in strategic locations for gold exploration within the CLGB, creating new opportunities for advancement through both exploration and strategic partnerships.

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Overview

FireFox Gold Corp (TSXV:FFOX, OTCQB: FFOXF, FSE:A2PDU7) is a resource exploration company with a portfolio of highly-prospective gold projects in Finland. FireFox Gold is a leading tenement holder and one of only a handful of companies actively exploring gold in Finland’s Central Lapland Greenstone Belt (CLGB). The CLGB is an under-explored orogenic gold belt comparable in size to some of the world’s most notable gold-bearing greenstone belts, and the site of a new gold rush. The gold belt may be under-explored, but Finland’s mining industry is well-established. Despite the northern latitude, the infrastructure in the CLGB is remarkable, with highways and powerlines often crossing the projects.

Recent notable discoveries made in the belt by Rupert Resources Ltd (TSX:RUP) and Aurion Resources Ltd (TSXV:AU) are driving a gold rush atmosphere. These discoveries have attracted the interest and investment from major players including Agnico Eagle Mines (NYSE:AEM,TSX:AEM), Kinross Gold Corporation (TSX:K,NYSE:KGC) and B2Gold Corp. (TSX:BTO). Agnico Eagle owns the Kittilä underground gold mine, located in the CLGB, which produces about 175,000 ounces of gold annually. Kinross, B2Gold and others have entered the field via agreements with the tenement-controlling juniors. FireFox holds over 500 square kilometres of tenements in strategic locations for gold exploration within the CLGB, creating new opportunities for advancement through both exploration and strategic partnerships.

2022 Drill Programs

FireFox drill-advanced three projects in 2022 and outlined multiple new target areas through an extensive geophysics and surface sampling program. Recent results are highlighted by the bonanza-grade drill holes at the Mustajärvi Project, including 13.85 metres averaging 28.74 g/t gold in 22MJ006 with a calculated total gold from screen fire assays for one of the samples of approximately 227.4 g/t gold. The company followed-up these results by drilling six additional diamond core holes at Mustajärvi, for which results are expected in early 2023.

FireFox Gold is led by a team of capital market and mining professionals including Finnish team members well versed in the nation’s mining laws and geologic potential.

Company Highlights

  • Finland has a strong mining tradition, clearly defined mining laws and world-leading geological technical databases.
  • 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.
  • The Central Lapland Greenstone Belt (CLGB) is an underexplored gold belt highly prospective for numerous multi-million-ounce discoveries.
  • FireFox is focused solely on gold in Finland, controlling approximately 500 square kilometres of key exploration ground in the CLGB.
  • The large land position gives FireFox two paths to discovery – direct exploration and joint venture.
  • The company is advancing multiple exciting gold projects and drilled four separate project target areas in 2022, with bonanza-grade gold in multiple holes at the Mustajärvi project.
  • Leadership exhibits a balance of technical and financial strengths, gold industry expertise and deep knowledge of Finland mining industry.
  • The company is well-structured, with strong institutional support.

Key Projects

Central Lapland Greenstone Belt – Site of a New Gold Rush in Finland

Central Lapland Greenstone Belt \u2013 Site of a New Gold Rush in Finland

The CLGB is comparable in size to other major greenstone belts, such as Canada’s Abitibi, Western Australia’s Norseman-Wiluna and the Zimbabwe Craton. However, only 13.1 million ounces of gold resources had been delineated across 14 gold deposits.

The dearth of exploration is due to the fact that prior to joining the European Union in 1995, foreign companies could not hold a majority share in an exploration or mining company. All exploration and exploitation was completed via state-owned companies such as Outokumpu.

The end result was limited gold exploration. In many cases when gold was discovered (whether in soil sample, rock chips, or drilling), it was rarely followed up.

This lack of exploration was underscored by a comment made by FireFox Gold’s chairman, Patrick Highsmith, in 2005: “Newmont drills more for gold in one year in Nevada alone than has ever been spent on gold drilling in the history of the CLGB”. This is also one of the reasons Highsmith decided to aid in founding FireFox Gold.

Central Lapland Greenstone Belt

With new discoveries now starting to be made, the FireFox team believes it is only a matter of time before significant gold deposits are delineated in this part of Finland, and that the companies that control the most prospective ground have the best chance for value creation.

Advancing Multiple Gold Projects

FireFox is actively advancing multiple projects in the Central Lapland Greenstone Belt that are prospective for orogenic gold deposits. The company drilled four target areas within three projects in 2022 and completed multiple surface sampling and geophysics programs to develop additional prospects.

At the 100-percent-held Mustajärvi gold project, FireFox has drilled bonanza-grade gold intervals at three targets over a 2.1-kilometer strike length. In the spring 2022 drill campaign, the East Target returned a 13.85-metre interval averaging 14.39 g/t gold, which when expressed in terms of grade-thickness, measures 199 gram-meters of gold, the strongest mineralized interval yet drilled at Mustajärvi. High-grade gold is often hosted in quartz-carbonate-tourmaline-pyrite (QCTP) veins related to albite–sericite altered, metamorphosed sedimentary and volcaniclastic rocks. The targets remain open along strike and at depth. The Mustajärvi Project lies along the highway, approximately 17 kilometres east of the city of Kittilä.

In November 2022, the company completed a small drilling program aimed primarily at offsetting the newly discovered high-grade zone in the East Target at its Mustajärvi Project in Finland. Six shallow diamond core holes were drilled at Mustajärvi totaling 977 metres. Results are expected in early 2023.

General Geology

The 100-percent-held Jeesiö gold project shares an address with many of the recent gold discoveries in the Central Lapland Greenstone Belt. The project hosts multiple orogenic gold targets and is positioned along the Sirkka Shear Zone, a major crustal structure that cuts through the CLGB and controls the emplacement of the majority of the orogenic gold deposits in Lapland. Since acquiring the property in 2017, FireFox identified numerous prospective areas at Jeesiö, including the high-priority Utsamo and Kataja Belt targets. The first drill program at the Saittavaara Prospect encountered gold in two of three holes drilled.

The 100-percent-controlled Sarvi gold project is adjacent to Rupert Resource’s Pahtavaara/Area 1 property, and the central area of Sarvi is within 5 kilometres of Rupert’s Ikkari discovery zone, which, along with the Kittilä deposit, provides an important exploration model. The first drill campaign at Sarvi was completed in 2022 and successfully confirmed elevated gold, silver and base metals at depth.

FireFox Gold also completed a detailed airborne magnetic survey over its 100-percent-controlled Naula Project in Lapland, Finland. Naula is a new project lying in the western portion of the CLGB, approximately 13 kilometres west of the town of Sirkka and 28 kilometres northwest of the town of Kittilä. FireFox has identified several strong targets at Naula and has applied for exploration permits covering approximately 26 square kilometres.

All the company’s projects are at an early stage and highly prospective for discovery.

Management & Technical Team

Carl Löfberg - CEO and Director

Carl Löfberg has a Master’s degree in Industrial Economics and broad experience in business consulting, project management, company start-ups and financing. Löfberg is an economist and precious metals investor, and an expert in hard currency and contrarian business strategy. He has been managing director for Magnus Minerals since 2006.

Patrick Highsmith - Chairman

Patrick Highsmith is a professional geologist and mining executive with experience on +300 projects around the world for companies such as Newmont, BHP, Rio Tinto, Fortescue Metals Group, Lithium One, Pure Energy Minerals, Timberline Resources and others. He has led teams through creative transactions, new discoveries, scoping and prefeasibility studies. He is a veteran of the capital markets who has worked in Finland since 2005.

Joe Mullin - Director

Joe Mullin is CEO and director of QuestEx Gold & Copper Ltd., a partner and director of Mount Arvon Partners LLC and an independent director of Industrial Metals and Pure Energy Minerals Limited. Mullin has over 20 years of experience in corporate finance, private equity, restructuring, resources and consulting. He formerly was a financial analyst at Goldman Sachs, a private equity analyst at WL Ross / Invesco Ltd. and a portfolio manager at Millennium Global Investments Ltd. He has a bachelor of arts degree from Harvard University.

Dr. Andor Lips - Director

Dr. Andor Lips is an experienced geologist residing in the Netherlands. Lips holds advisory and board positions across the globe, including HCF International Advisories, Western Tethyan Resources, 79th Group, Spectral Industries, and Verde Magnesium. Prior to his current consulting and advisory activities, he worked for Eldorado Gold as VP European strategy & corporate sustainability. He also held prior positions with the Commodity Discovery Fund, ING Bank N.V., Lydian International Ltd and BRGM, while also providing external expert advice to the European Commission over the past decade. Lips earned his PhD and master's degrees in structural geology and geodynamics at Utrecht University in the Netherlands.

Janice Craig - CFO and Corporate Secretary

Janice Craig has held management roles in several publicly listed mining companies working on gold, tungsten and coal projects in North America, Central America and Europe. She has a strong background in financial reporting, strategic planning, cash management and change management.

Sven Hönig - General Manager of Exploration

Dr. Sven Hönig has over 12 years of exploration experience, with a strong background in structural geology and interpretation applied to a variety of deposit types, including orogenic and intrusion-related gold. He acted as chief geologist, project manager and project geologist, for projects ranging from grassroots to advanced stage.

Richard Goldfarb - Technical Advisor

Dr. Richard Goldfarb has more than 40 years of experience as an exploration geologist, researcher and professor. He is a world-renowned expert on the geology of gold deposits with an emphasis on orogenic gold. Dr. Goldfarb’s specialty is target generation and optimization in greenfields exploration for orogenic gold. In addition to operating a well-known geological consultancy, he is a research professor at the Colorado School of Mines as well as a fellow and former president of the Society of Economic Geologists.

Alf Björklund - Technical Advisor

Dr. Alf Björkund brings more than 50 years of experience in geoscientific research and application to mineral exploration in Scandinavia, Russia, Brazil, Portugal and Canada. Trained as an exploration geochemist, he is also a former chief geochemist for the Geological Survey of Finland. He has been a professor of geology at Abo Akademi University. He is a co-founder and CEO of SES Finland Ltd and former chairman of the board for Magnus Minerals.

*Disclaimer: This profile is sponsored by FireFox Gold ( TSXV:FFOX ). This profile provides information which was sourced by the Investing News Network (INN) and approved by FireFox Gold in order to help investors learn more about the company. FireFox Gold is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with FireFox Gold and seek advice from a qualified investment advisor.

FireFox Gold

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