Precious Metals

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: SPOT.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 President 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 Kittilä suite volcanics, which is dominated by tholeiitic mafic flows and graphite bearing mafic tuffites. This volcanic complex is host to Agnico Eagle's Kittilä 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.

FireFox Gold Corp, Tuesday, August 9, 2022, Press release picture
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 two significant linear patterns of magnetic low that strike NNE across the property. The westernmost of these is much more significant 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.

FireFox Gold Corp, Tuesday, August 9, 2022, Press release picture
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 Hönig, 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. Hönig 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: info@firefoxgold.com
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 programs; 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.

SOURCE: FireFox Gold Corp



View source version on accesswire.com:
https://www.accesswire.com/711318/FireFox-Gold-Identifies-Potential-Gold-Hosting-Structures-at-Naula-Project-in-Lapland-Finland

News Provided by ACCESSWIRE via QuoteMedia

FFOX:CA
TSXV:FFOX

FireFox Gold


Keep reading...Show less
FireFox Gold Reports More Shallow High-Grade Gold from the East Target at the Mustajärvi Project, Finland

FireFox Gold Reports More Shallow High-Grade Gold from the East Target at the Mustajärvi Project, Finland

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to report the final results from its 2021 - 2022 drilling program at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. The last two core holes (22MJ017 and 22MJ018) tested the East Target (see Figure 1), which hosts the best drill hole to date from the project: 13.85 metres averaging 14.39 gt gold in 22MJ006 (see Company news release dated July 13, 2022). Both of these drill holes encountered significant gold mineralization, sometimes coming to surface beneath thin glacial sediments

Hole 22MJ018 returned multiple significant gold intervals starting near-surface and continuing to depths of approximately 80 metres, an extension of nearly 50 metres down-plunge from previous drilling at this location. The intercepts are summarized below, but in aggregate, the grade-thickness of gold mineralization in this hole is more than 110 gram-metres. FireFox has now drilled six holes into three different target areas at Mustajärvi with > 90 gram-metres of gold mineralization. These intercepts occur along more than 1.5km strike of the shear zone.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
FireFox Gold Extends Mineralized Zone at Central Zone on Mustajärvi Project, Finland

FireFox Gold Extends Mineralized Zone at Central Zone on Mustajärvi Project, Finland

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to report additional results from its 2022 core drilling program at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. Of particular note are results from drill hole 22MJ015, which intersected 1 metre averaging 46.93 gt gold from 33.5 metres down-hole. This hole was collared approximately 40 metres northeast of the easternmost drill hole at the Central Zone. Drill hole 22MJ016 also encountered 1.15 metres averaging 4.4 gt gold from 94.4m depth on the western end of the Central Zone

In addition, drilling intersected elevated gold grades within the Gabbro Target in drill holes 22MJ004 and 22MJ013. The Gabbro Target lies farther west at Mustajärvi and has seen very limited drill testing (see Figure 1). These new narrow low grade gold intercepts associated with veining and alteration are considered encouraging for the future potential of this part of the property.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Firefox Gold Announces Completion of Shares for Debt Transaction

Firefox Gold Announces Completion of Shares for Debt Transaction

FireFox Gold Corp. ("FireFox" or the "Company") (TSXV:FFOX) announces that the Company has completed the previously announced issuance of shares in exchange for drilling services. FireFox entered into an agreement for services with Oy Kati Ab Kalajoki ("Kati"), an arm's length party, pursuant to which the Company has now issued common shares of the Company in full satisfaction of drilling services provided by Kati in Northern Finland (the "Shares for Services

The Company has received invoices from Kati for work performed to March 31, 2022 and under the Agreement has issued 1,056,997 common shares to Kati with a value of $0.15 per share in settlement of invoices totaling $158,549.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
FireFox Gold Announces Agreement with Kati Drilling for Shares for Debt

FireFox Gold Announces Agreement with Kati Drilling for Shares for Debt

FireFox Gold Corp. ("FireFox" or the "Company") (TSXV:FFOX) announces that the Company has entered into an agreement with Oy Kati Ab Kalajoki ("Kati"), an arm's length party, pursuant to which the Company will issue common shares of the Company in full satisfaction of drilling services (the "Services") provided by Kati in Northern Finland

The Company has received invoices from Kati for work performed to March 31, 2022 and under the Agreement will issue 1,056,997 common shares to Kati with a value of $0.15 per share in settlement of invoices totaling $158,549.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
FireFox Gold Provides an Exploration Update on its Sarvi and Mustajärvi Projects, Lapland, Finland

FireFox Gold Provides an Exploration Update on its Sarvi and Mustajärvi Projects, Lapland, Finland

FireFox Gold Corp. (TSXV:FFOX) (OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to provide an update on exploration at its 100%-controlled Sarvi and Mustajärvi gold projects in Lapland, Finland. FireFox has drilled approximately 8,319m of diamond core to date in the 2021-2022 drill program on the Jeesiö, Mustajärvi, and Sarvi Projects, including the first 12 holes at Sarvi. This release includes a summary of drill results from the first five widely spaced holes across the northern section of the Sarvi target area (See Figure 1: https:bit.ly3MU7CQR

This program also includes new drilling at the Mustajärvi Project, where possible extensions to the high-grade shear-zone-hosted gold mineralization have been tested at the East Target and Gabbro Target. The new drilling includes 10 holes, five holes at the East Target and five holes at the Gabbro Target. Results are pending for all of these recent holes.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

AUGUSTA GOLD ANNOUNCES RESULTS OF ITS ANNUAL SHAREHOLDER MEETING

Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) (" Augusta Gold " or the " Company ") announces that all matters presented for approval at Augusta Gold's annual shareholder meeting held today, as more particularly set out in the Company's Management Information Circular and Proxy Statement dated August 15, 2022 have been approved. These matters included:

Augusta Logo (CNW Group/Augusta Gold Corp.)

  • Electing each of the Company's six nominees as directors of the Company;
  • Re-appointing Davidson & Company LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration; and
  • Approving the repricing of certain Company stock options.

A summary of the results for the election of the Company's directors is provided below:

Name of Nominee

Votes For

Votes Withheld

Number

%

Number

%

John Boehner

40,280,915

99.98 %

8,529

0.02 %

Lenard Boggio

40,158,112

99.67 %

131,332

0.33 %

Daniel Earle

40,158,407

99.67 %

131,037

0.33 %

Poonam Puri

40,162,485

99.68 %

126,959

0.32 %

Donald R. Taylor

40,158,252

99.67 %

131,192

0.33 %

Richard Warke

40,279,592

99.98 %

9,852

0.02 %

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com .

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/augusta-gold-announces-results-of-its-annual-shareholder-meeting-301637509.html

SOURCE Augusta Gold Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/30/c7150.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Empress Royalty Completes First Tranche of Private Placement

Empress Royalty Completes First Tranche of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) ("Empress" or the "Company") is pleased to announce that it has completed the first tranche of its US$2M private placement by the issuance of 4,350,000 units at C$0.30 each for gross proceeds of US$1M with Rick Rule. The final tranche is expected to close shortly

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Prismo Metals Announces Results of 2022 Annual General and Special Meeting of Shareholders

Prismo Metals Announces Results of 2022 Annual General and Special Meeting of Shareholders

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("PRISMO" or the "Company") announces the results of its 2022 Annual and Special Meeting of shareholders held on Thursday, September 29th, 2022, in virtual format.

Shareholders approved all the resolutions detailed in the management information circular of the Company dated August 31, 2022, namely:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CORRECTION FROM SOURCE: Steppe Gold Announces Gold Prepayment Facility

CORRECTION FROM SOURCE: Steppe Gold Announces Gold Prepayment Facility

This document corrects and replaces in its entirety the previous release that was issued by Steppe Gold Limited earlier today, where it should have read, "The Triple Flag Gold Prepay Facility will be repaid over 6 months starting December 23, 2022 by six monthly deliveries of 500 oz of gold for a total of 3,000 oz." instead of  "December 23, 2023." The corrected release is found below and all other content within this release is unchanged:

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce that it has entered into an agreement with Triple Flag International Ltd ("Triple Flag") for a short-term gold prepay facility (the "Triple Flag Gold Prepay Facility").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Red Pine Closes C$5.5 Million Bought Deal Financing

Red Pine Closes C$5.5 Million Bought Deal Financing

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES /

All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Steppe Gold Announces Gold Prepayment Facility

Steppe Gold Announces Gold Prepayment Facility

 Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce that it has entered into an agreement with Triple Flag International Ltd ("Triple Flag") for a short-term gold prepay facility (the "Triple Flag Gold Prepay Facility").

One of the consequences of the zero covid policy in China and the attendant China/Mongolia border closures has been a shortage of available US dollars with banks in Mongolia. Steppe Gold sales revenue is received in Mongolian Tugrik. While most of its operating costs are also paid in local currency, we require US dollars to acquire reagents and to fund deliveries to Triple Flag. The Triple Flag Gold Prepay Facility allows Steppe Gold to continue to meet all of its obligations during this temporary market disruption.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×