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North of its flagship Jeesiö and Mustajärvi projects, FireFox Gold has built a large portfolio of gold-prospective properties and projects in Finland’s Central Lapland Greenstone Belt. The portfolio has been expanded from the original Seuru Gold Project optioned properties, and now comprises nearly 450 km2 of tenements.  The large size of the land holdings gives FireFox the opportunity to make strategic investment / joint ventures for some properties while retaining full control on core properties of interest.

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Many targets in the Northern Group properties occur in mafic volcanic rocks, similar to the host rocks at Agnico Eagle’s Kittilä Mine (Suurikuusikko), the largest primary gold producer in Europe.  Some properties include known gold occurrences, historic drilling and other exploration work.  

Within the portfolio, the Sarvi and Keula properties are a core area of focus for the Company. These properties are 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. Sarvi has seen limited exploration but returned good indications of gold potential, including historic drill results and gold in micronuggets.

FireFox cautions that proximity to a discovery, past-producing mine, or mineral resource, does not indicate that mineralization will occur on FireFox’s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.

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The Seuru group of properties is in Lapland, the northernmost province of Finland.  The project is road accessible and the area is serviced by two local towns, Kittila and Sodankylä. Agnico Eagle’s Kittilä Mine property, an underground gold mine and Europe's largest primary gold producer, is situated less approximately 20km to the northwest. 

The Northern Group consists of ten properties, including:

  • Sarvi and Lehto, covering a total of 14.4km2, that remain fully under the original Seuru option agreement with Magnus Minerals (“the Seuru Option”) and
  • an additional eight properties (Sarvi 2, Lehto 2, Kolho, Keula, Nunara, Kuussatta, Manto and Parto) totaling approximately 432 hectares for which tenure was directly granted to FireFox.  A considerable portion of the directly-held reservations overlap with properties originally governed by the conditions of the Seuru Option Agreement; hence, the Magnus NSR and its conditions will apply to certain of these properties if production is achieved.

For details of the Seuru option, including the current status of payments and expenditures please refer to the latest MDA & Financial Statements.

The Northern Group of Properties is located within the Central Lapland Greenstone Belt (“CLGB”), a poorly explored package of Paleoproterozoic-age mafic volcanic and sedimentary rocks which underwent three ductile compressional events around 1.79-1.92 Ga followed by one or more brittle stages.

The Geological Survey of Finland (GTK) has performed geophysical surveys, till geochemistry, and drilling in various areas covered by the properties. Results in the GTK database indicate several target areas where structural intersections coincide with gold and trace element geochemical anomalies.

Bedrock in the Sarvi-Lehto area consists of sulphide bearing rocks of Porkonen formation and mafic volcanites of Vesmajärvi and Kautoselkä formation. The most recent studies by Geological Survey of Finland (GTK)(2009-2010) shows gold potential in the southern part of Porkonen formation which continues through the Sarvi property. At Sarvi and Keula, the potential is supported in GTK drill results from 2009 that intersected up to 3.57 g/t Au over 0.45 m (U441/2009/R8). In addition, micro panning of a 10kg heavy mineral sample revealed 118 gold micronuggets resulting in anomalous Au and As - a clear indication of the gold prospectivity of the area. Assays from percussion till samples (GTK & recent FireFox) indicate enrichment of pathfinder elements such as Bi and As.

Mapping, sampling, and UAV airborne geophysics were completed in the 2020 summer program. Additional detailed programs are planned for the Sarvi area in the summer of 2021.

For details on the program in progress please refer to the News Releases or the latest Presentation.

Summary of Work Completed by Firefox to January 2021

2018-19: FireFox completed compilation of historic GTK Data, performed limited percussion geochemical till sampling and collected surface grab and heavy mineral samples.

2020: The summer program included mapping and sampling throughout several of the properties.  A UAV airborne geophysics survey was completed over the Sarvi & Keula properties.  

 

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