Precious Metals

FireFox Gold Provides an Exploration Update for the Jeesiö and Northern Group Projects, Finland

FireFox Gold Provides an Exploration Update for the Jeesiö and Northern Group Projects, Finland

FireFox Gold Corp. (TSXV:FFOX) (OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to provide a summary of results from the 2022 exploration programs at its 100% held Jeesiö, Sarvi, Lehto and Kolho gold properties in Lapland, Finland (see Figure 1

Trenching and bedrock sampling in the southern part of the huge Jeesiö Project returned anomalous gold over a large area, including 33.60 g/t Au from a bedrock grab sample at the Katajavaara Hill prospect. Nearly a kilometre away, FireFox geologists collected a rock chip channel sample at the Kataja South prospect that averaged 1.33 g/t Au over 0.8 metres. Another sample in the area contained 1.43 g/t Au, and numerous other samples in the area were highly anomalous in gold. These are the latest sampling results from the first excavations in the area, which was first identified by FireFox reconnaissance sampling late in 2019. The extent of gold mineralization at both prospects is not known, as the gold anomalies remain open along strike and at depth.

Bedrock mapping at the Sarvi property identified several new locations exhibiting strong alteration in metavolcanic and metasedimentary rocks, as well as mineralized chert with disseminate sulfide and gold values of 0.31 g/t in surface rock samples. The team noted similar geology farther north while mapping at the Company's Lehto Property. During the 2022 field campaign, geologists collected a grab sample at Lehto that contained 0.97 g/t gold. At the Kolho property, the field team completed preliminary reconnaissance bedrock mapping in preparation for the first round of mechanized base-of-till (BoT) sampling expected during the spring of 2023.

Carl Löfberg, FireFox CEO, commented about these results "At FireFox, we continue to advance several projects at various stages among our large portfolio of properties. We are always excited to see more than 10 g/t gold from early-stage exploration, and this is something we often observe on gold projects in Lapland. We have been heavily focused at Mustajärvi, but these results from Katajavaara, Sarvi, and Lehto warrant more work. We are confident the team will transform these strong early indications into viable drill targets by late this year."

In 2023, FireFox plans additional mapping and sampling at the Katajavaara prospects in order refine the targets for follow-up drilling. At Sarvi, the FireFox team will conduct more follow-up work from the 2022 BoT sampling to include mapping, sampling, ground geophysics, and core drilling. Initial exploration permits are expected before the end of the second quarter at Kolho, so the Company expects to continue with its target development at Lehto and Kolho and to add a BoT drill rig in that area during Q2. This work is in addition to the ongoing program at the Company's 100%-held Mustajärvi gold project, from which results for the first three holes of the Q4 2022 drilling campaign were recently reported, including 15.5m of 13.09 g/t gold (see Company news release dated January 18, 2023). The final results from that drill program are expected in February.

Jeesiö Project Program Details

The 100%-controlled Jeesiö Gold Project covers approximately 75.8 km2 along the Sirkka Shear Zone, a trans-crustal structure that controls the emplacement of most of the known orogenic gold deposits in Lapland. The main Jeesiö targets include the Utsamo and Kataja Belt areas. From south to north, the Kataja Belt consists of three gold prospects: Saittavaara, Katajavaara South (KJ South) and Katajavaara Hill (KJ Hill). The prospects span at least 3 kilometres, apparently related to en echelon northerly striking younger ("D3" or "D4") structures. The recently acquired high-resolution airborne magnetics data reveal multiple generations of folding and faulting across the entire Jeesiö Project area. Younger asymmetric folding west of the Kataja Belt shows evidence of disruption by right-lateral shearing broadly parallel with northeast trending axial planes. These shears appear to be associated with the gold showings in the Kataja Belt.

The 2022 trenching campaign was focused on the KJ South and KJ Hill prospects, which emerged from FireFox reconnaissance work in 2019 and 2020. The team excavated 9 small exploration trenches and collected 68 chip/channel and 34 grab samples from bedrock. In summary, approximately 68% of the total samples exceeded the detection limit for the method (0.005 g/t gold), and 15% of the samples contained anomalous levels of gold more than 0.100 g/t gold. Channel samples were taken perpendicular to observed mineralized veins and structures to represent true width. Most anomalous gold samples were hosted within quartz veins and lenses. The team recorded detailed information on the geology, alteration, veining, and structures from the trenches that will guide future work and drilling on these emerging targets.

FireFox Gold Corp, Wednesday, January 25, 2023, Press release picture

Figure 1- FireFox Land Position with Jeesiö and Northern Properties Highlighted (Click here to enlarge)

Katajavaara South

At KJ South, FireFox geologists identified high gold in the area (10.5 g/t Au) from quartz-magnetite-sulphide vein samples from outcrop in 2019 and 2020 (see Company news release dated October 6, 2020). These anomalous samples are associated with the southwest margin of a magnetic body believed to represent mafic intrusives or volcanic rocks. This outcrop area was the target of the 2022 exploration trenching campaign, the results of which are summarized in Figure 2 and Table 1.

FireFox Gold Corp, Wednesday, January 25, 2023, Press release picture

Figure 2 - Kataja Permit Area with Rock Sample Results (Click here to enlarge)

The trenches exposed the intensely sheared contact between siliciclastic metasedimentary and mafic intrusive rocks, revealing several mineralized quartz-sulphide veins and lenses within both units. In addition to pyrite and magnetite, geologists also noted the presence of chalcopyrite and copper oxides in these samples. The gabbro in the area is likely attributable to mafic sills that are related to a younger continental rift setting (Haaskalehto-type), which are common at the Jeesiö Project.

The mineralization encountered in the trenches is clearly controlled by shearing, as it crosscuts both lithologies and the contact between them. Among several samples in the area containing strongly anomalous gold, one chip channel sample averaged 1.33 g/t gold over 0.8 metres. Another grab sample contained 1.43 g/t gold. When considered in concert with the high gold values previously reported in the area (Figure 2), it is clear that this gold target is open and unconstrained in all directions and undrilled.

Katajavaara Hill

KJ Hill is located approximately 900 metres to the north of KJ South along the trend of a N-S oriented magnetic feature. Along the eastern slope of the hill, there are fields of locally derived boulders displaying abundant mineralized quartz veins intruding metasedimentary (arkose and quartzite) and mafic rocks. FireFox teams collected grab samples from boulders of these quartz veins in 2020, including one sample with 4.73 g/t Au (see Company news release dated October 6, 2020). This trend of anomalous samples is approximately 400 metres long and appears to be associated with a younger structure that crosscuts the north-trending magnetic anomaly in a northeasterly direction. This outcrop area was another focus of the 2022 exploration trenching campaign; and the geology and gold values are summarized in Figure 2 and Table 1.

At KJ Hill, the team cut three trenches that exposed several quartz lenses and veins hosted in siliciclastic metasedimentary rocks. The mineralization exposed in the trenches was relatively simple, quartz with chlorite and minor sulfides (partially oxidized). The highest-grade sample was 33.60 g/t Au from a bedrock grab sample of quartz vein. The extent of this system is not known, and it is undrilled.

FireFox had intended to continue the trenching at this prospect but the 2022 program was cut short due to weather. The majority of the Kataja Belt is on high ground and accessible year-round, so the team will return during 2023 for follow-up work.

Table 1. Selected highlights of the 2022 Katajavaara sampling campaign.

Target

Sample Type

Rock Type

Sample Weight (kg)

Gold

(g/t)

KJ Hill

Grab

Quartz vein with minor chlorite, slightly weathered

1.53

33.60

KJ Hill

Chip - channel

Quartz vein with mica and chlorite, minor weathering,

2.52

0.72

KJ Hill

Grab

Quartz lens-vein, rusty surface, with weathered sulphides

2.65

0.59

KJ South

Grab

Quartz vein pieces with red staining, vuggy texture

5.02

1.43

KJ South

Chip - channel

Mafic intrusive. Silicified matrix with pyrite nest

1.49

1.33

KJ South

Chip - channel

Quartz lens with pyrite, chalcopyrite, magnetite, and Cu and Fe-oxides

1.8

0.65

KJ South

Grab

Quartz lens with pyrite, chalcopyrite, and minor Cu and Fe-oxides

3.64

0.64

KJ South

Chip - channel

Quartz lens with pyrite, chalcopyrite, and minor Cu and Fe-oxides

7.11

0.49

KJ South

Chip - channel

Quartz lens with chlorite and traces of disseminated pyrite

1.71

0.48

KJ South

Grab

Quartz vein with pyrite, malachite, goethite, and magnetite stringers

2.09

0.46

Kolho and Northern Properties Program

FireFox also conducted limited reconnaissance bedrock mapping on its vast Kolho Property during the field season of 2022. Much of the Kolho area is situated within low-lying areas and swamps, where winter conditions are needed to conduct mechanized exploration. FireFox has several permit applications at Kolho and expects at least one expedited permit to be granted in the first half of 2023.

Reconnaissance bedrock mapping was also conducted on the Company's Sarvi and Lehto properties, which have valid permits in place. At Sarvi, Company geologists identified several locations of intensely carbonate-altered metavolcanics, massive carbonate units, and sulphide-bearing chert formations. These samples from the chert unit with disseminated sulphides contained anomalous gold, including one sample with 0.31 g/t. The FireFox team considers such intense alteration and polymetallic anomalies associated with mafic metavolcanics and major crosscutting structures (D2 and D3) as key elements for hosting an orogenic gold deposit at the Sarvi Project.

Similar sulphide-rich sedimentary and volcano-sedimentary rock units in close proximity to high-volume mafic volcanism are also often seen at the nearby Lehto Property. A limited sampling campaign at Lehto in 2022 also resulted in anomalous gold samples, including one sample containing 0.97 g/t Au.

Methodology & Quality Assurance

Channel samples were sawed by a diamond saw in solid exposed bedrock and taken out by chisel and hammer. Geologists took the chip-channel samples with chisel and hammer from exposed bedrock, which was sometimes strongly weathered. Both types of channel samples were approximately 10 cm wide and taken perpendicular to observed mineralized veins and structures to represent true width. In some areas where continuous channel sampling was not possible, geologists collected grab samples. The grab samples discussed in this release are believed to be from in situ bedrock. FireFox geologists maintained chain of custody and sampling procedures according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were then crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to the ALS facility in Rosia Montana, Romania for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24).

ALS Laboratories is a leading international provider of assay and analytical data to the mining 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 inserted by Firefox into the analytical batches did not show deviations from recommended values.

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 Manager of Exploration for the Company, is a qualified person as defined by National Instrument 43-101. Dr. 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 exploration and drilling; the likelihood of exploration permits being granted, 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 2023. 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/736643/FireFox-Gold-Provides-an-Exploration-Update-for-the-Jeesi-and-Northern-Group-Projects-Finland

News Provided by ACCESSWIRE via QuoteMedia

FFOX:CA
FireFox Gold (TSXV:FFOX)

FireFox Gold


Keep reading...Show less
FireFox Gold Tests New Drill Orientation and Hits More High-Grade, including 13.09 g/t gold over 15.5m, at Mustajärvi Project, Finland

FireFox Gold Tests New Drill Orientation and Hits More High-Grade, including 13.09 g/t gold over 15.5m, at Mustajärvi Project, Finland

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to report results from the first three drill holes of the fall 2022 core drilling campaign at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. These three holes were part of a six-hole program (977.1 metres) that tested a new near-surface high-grade gold zone at the East Target (see Figure 1). All three of the holes returned high-grade gold assays, including some of the richest intercepts yet reported from the project

Drillholes 22MJ021 and 22MJ022 both encountered significant high-grade gold at depths of less than 20 metres below surface. The best intercept in this round of results was 15.5m of 13.09 g/t gold in 22MJ021, which began just below the covering glacial sediments at 11m downhole depth. Importantly, these holes were drilled perpendicular to the drilling orientation favoured in the previous campaigns and appear to have successfully confirmed that the observed cross-structures host significant mineralization.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Firefox Gold Welcomes Dr. Andor Lips to Its Board of Directors

Firefox Gold Welcomes Dr. Andor Lips to Its Board of Directors

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to announce the appointment of Dr. Andor Lips to its board of directors. Dr. Lips is an experienced geologist who resides in the Netherlands. Dr Lips holds advisory and board positions across the globe. HCF International Advisories, Western Tethyan Resources, 79th Group, Spectral Industries, and Verde Magnesium are a few of the groups that are benefiting from his expertise in strategic, technical, financial and governance matters

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 (Fund Manager), ING Bank N.V. (Senior Banker), Lydian International Ltd (Technical Director), and BRGM (Senior Geologist and Program Manager) whilst also providing external expert advice to the European Commission over the past decade. Dr. Lips earned his PhD and Master's degrees in Structural Geology and Geodynamics at Utrecht University in the Netherlands.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Firefox Gold Closes Successful First Tranche and Provides Update on Second Tranche of Upsized $1.069M Non-Brokered Private Placement

Firefox Gold Closes Successful First Tranche and Provides Update on Second Tranche of Upsized $1.069M Non-Brokered Private Placement

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") announces, effective December 19th, subject to regulatory acceptance, it will have successfully completed the non-brokered private placement (the "Private Placement") announced on November 21, 2022 ($0.5M) with an oversubscription resulting in gross proceeds of $1,068,480

The first tranche that closed on December 9th raised total gross proceeds of $773,480 by issuing 9,668,500 units at a purchase price of $0.08 per unit. The second tranche will raise total gross proceeds of $295,000 by issuing 3,687,500 units at a purchase price of $0.08 per unit when it closes on December 19th. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of C$0.12 per share for a term of two years from the date of issuance. The shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Firefox Gold Follows-Up High-Grade Gold with Drill Program at Mustajärvi Gold Project, Finland

Firefox Gold Follows-Up High-Grade Gold with Drill Program at Mustajärvi Gold Project, Finland

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to announce that it has 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. The Company drilled 6 shallow diamond core holes at Mustajärvi totaling 977 metres

FireFox announced on July 13, 2022, that its May drill program at Mustajärvi had returned the best drillhole yet on the project (22MJ006: 13.85m at 14.39 g/t gold), and that the mineralization encountered in this new zone occurs very near surface (less than 20.0m vertical). Subsequent screen fire assays identified significant coarse gold in one of the samples. The results from the more rigorous screen fire assays returned a calculated total gold for one of the samples of approximately 227.4 g/t gold. All other high-grade (>10.0 g/t) samples within the interval were confirmed by multiple 50-gram fire assays with gravimetric finish and by the 1,000-gram screen fire assays. The resulting new weighted average for the interval in drill hole 22MJ006 was 13.85m at 28.74 g/t gold (See Company news release dated September 6, 2022).

News Provided by ACCESSWIRE via QuoteMedia

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
Aben Resources Announces Share Consolidation, Name and Symbol Change

Aben Resources Announces Share Consolidation, Name and Symbol Change

Aben Resources Ltd. (TSX-V: ABN ) (OTC QB : ABNAF ) (Frankfurt: E2L2 ) ("Aben" or "the Company") announces that the Board of Directors have approved a consolidation of the Company's common shares on the basis of one (1) post-consolidated share for every ten (10) pre-consolidated shares (the "Consolidation").

Currently, the Company has 136,697,345 common shares issued and outstanding. Following the Consolidation, the Company will have approximately 13,669,734 common shares issued and outstanding. No fractional shares will be issued but will instead be rounded as provided for in section 83(1) of the Business Corporations Act (British Columbia).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Advance United Holdings Q1 2023 Shareholder Update

Advance United Holdings Q1 2023 Shareholder Update

Advance United Holdings Inc. (CSE: AUHI) (OTCQB: AUHIF) (FSE: 9I0) (the "Company" or "Advance United") is pleased to provide an update report from James Atkinson, CEO and Chairman.

Dear fellow shareholders, service providers, and followers of Advance United,

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
NV Gold Corporation Outlines Its Planned 2023 Drill Priorities and Exploration Activities

NV Gold Corporation Outlines Its Planned 2023 Drill Priorities and Exploration Activities

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to provide an exploration activity update for 2023, outlining its highest drill priorities and early-stage project evaluation. Of the Company's seven active projects in Nevada, NV Gold intends to prioritize three projects: (1) SW Pipe Gold Project ("SW Pipe"); (2) Slumber Gold Project ("Slumber"); and (3) Triple T Gold Project ("Triple T"), subject to capital availability. In addition, the Company plans an intensive "boots on the ground" exploration campaign to evaluate over 30 new potentially prospective areas generated through its Data Library Project, a collaborative exercise conducted with GoldSpot Discoveries Corp. ("GoldSpot"), and recent land acquisitions, such as the Gold Bell and Teton projects in the Bell Mining District in Nevada

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Orefinders Updates on Drilling and Broad Portfolio of Investments

Orefinders Updates on Drilling and Broad Portfolio of Investments

Orefinders Resources Inc. (TSXV: ORX) (OTCQB: ORFDF) ("Orefinders" or the "Company") is pleased to provide shareholders with an update on its investments, exploration activities and corporate strategy.

  • Equity and Property Investments in:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
iMetal Resources Recieves Exploration Permits for Next Phase of Exploration at Gowganda West

iMetal Resources Recieves Exploration Permits for Next Phase of Exploration at Gowganda West

iMetal Resources, Inc. (TSX.V:IMR)(OTC PINK:ADTFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce the issuance of exploration permits for the Company's Gowganda West project which lies within the prolific Abitibi Greenstone Gold Belt

Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario, contiguous to Aris Gold Corp.'s Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; contiguous also with the Knight project that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Limited. iMetal has just recently completed a seven-hole, 2611 m drilling program, which intersected multiple gold zones including a new gold trend to the east of previously discovered trends.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

CHINA EDUCATION RESOURCES INC. ("CHN.H")
[Formerly China Education Resources Inc.  ("CHN")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×