Seuru Gold Project
The Seuru Group includes six properties in the Central Lapland Greenstone Belt of northern Finland.
Targets occur in mafic volcanic rocks, similar to the host rocks at Kittila Mine Agnico Eagle Kittilä Mine (Suurikuusikko), the largest primary gold producer in Europe.
Studies suggest there could be as much as 30 times the currently known gold resources in the CLGB1.
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.
The Sarvi and Keulakko properties were identified as having gold potential in studies by the Finnish geologial survey (GTK), including drill results from 2009 that intersected up to 3.57 g/t Au over 0.45 m (U441/2009/R8)4. 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.
The Sarvi is situated approximately 5km north of Rupert’s Area 1 gold zone. Mapping, sampling and UAV airborne geophysics were completed in the 2020 program. The Lehto and Kolho properties have prospective geology, and saw exploration by FireFox for the first time in the Summer 2020 program. Results & targets are being processed and 2021 programs planned.
Location, Access and Infrastructure
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 Seuru Group consists of six properties including 4 properties totaling 183 hectares 100% held by FireFox, and an additional 2 properties (Sarvi and Lehto) covering a total of 14.4km2 under option. FireFox can earn a 100% interest in the Sarvi and Lehto properties by the issuing 1,500,000 shares of the Company to Magnus Minerals (completed) and making payments of up to CAD $200,000 in cash by October 2021, while investing CAD $1,500,000 in mineral exploration on the Properties by the same date. Magnus will retain a 1.5% NSR royalty on production from the Properties, 0.5% of which can be purchased for 1,000 troy ounces of gold on these properties. For the current status of payments and expenditures please refer to the latest Financial Statements.
- Despite the long Iron and Manganese-ore exploration history of the area, the promising gold potential of the area is still not well explored.
- GTK performed geophysical surveys, till geochemistry, and drilling results in the Geological Survey of Finland (GTK) database indicate several target areas where structural intersections coincide with gold and trace element geochemical anomalies.
- The most recent studies by Geological Survey of Finland (2009-2010) indicated gold potential in the southern part of Porkonen formation which continues through the Sarvi property. GTK drill cores from 2009 reached anomalous grades up to 3.57 ppm Au @ 0.45 m (U441/2009/R8)
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 the properties. A UAV airborne geophysics survey was completed over the Sarvi property.
Geology & Exploration
The Seuru Project 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.
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 (2009-2010) shows gold potential in the southern part of Porkonen formation which continues through the Sarvi property.