SODANKYLA , FINLAND – (October 6th, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to announce that it has commenced a new fully funded campaign of diamond drilling that will test up to four of the Company’s gold properties in Finland’s Central Lapland Greenstone Belt over the next four months.
Carl Lo fberg, President and CEO of FireFox, commented, “We have focused on executing a systematic exploration plan and it has paid off with four exciting drill-ready gold targets this year, including the Sarvi Project which we plan to drill for the first time. The potential for significant gold mineralization is high at all of these targets and we look forward to discovering the next deposit…or two, in Lapland.”
The drill program has commenced at the 100%-owned Mustaja rvi Project, where the recently completed Phase 4 program hit a high-grade gold zone including 93.88 g/t gold over 1.35 metres in hole 21MJ001 and 7.69 g/t gold over 16.45 metres in hole 21MJ010 (see news releases dated June 17th, 2021 and September 9th, 2021). The new work will include up to 2,000 metres targeted primarily at the high-grade zone in the Northeast Target.
The second priority property likely to be drill tested before the end of January 2022 is FireFox’s 100%-held Sarvi Project, which adjoins Rupert Resources’ Area 1 discovery zone. FireFox is currently engaged in a detailed trenching and BOT sampling program at Sarvi. To date, the team has collected 168 chip channel and over 500 BOT samples. These new data will be integrated with earlier geophysics and gold, arsenic, and copper anomalies from till and rock sampling to generate priority drill targets (see news release dated August 24th, 2021). Drilling at Sarvi will likely advance in phases as targets become better defined based on data still pending from the 2021 trenching and BOT campaigns.
By early November, FireFox plans to move the drill rig to the Utsamo target area of the Jeesio Project. This area was subjected to a detailed base-of-till (BOT) sampling program in the spring and summer with over 1,000 samples collected. Results are now being processed and interpreted to refine final drill targets for the fall campaign, which is expected to include up to 1,000 metres of drilling at Utsamo. If permits, schedule and conditions permit, FireFox plans additional exploration holes at the Saittavaara Prospect in the southern Kataja Belt of the Jeesio Project. This area was drilled for the first time earlier this year, and yielded gold mineralization of more than 0.9 g/t gold in two of three holes, including a near-surface zone of 4.0m averaging 2.03 g/t gold in 21JE002 (see news release dated August 3rd, 2021).
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 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 project portfolio that includes over 80,000 hectares 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
FireFox Gold Corp.
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 2021 – 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.