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SODANKYLÄ, FINLAND – (February 22, 2024) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) announces the completion of another drilling campaign at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. The program included six drill holes totalling 1,617.5 metres, focused on testing for extensions to depth of the near-surface high-grade gold zone at the East Target. Core logging identified several intervals of quartz-carbonate-tourmaline-pyrite veins cutting through all lithologies, as well as intensely altered sections of intermediate tuffites and gabbro. FireFox expects to report the analytical results by early March.

FireFox is also pleased to report results from recent surface sampling at the Saittavaara prospect, which is part of the large 100%-controlled Jeesiö Project. The field team identified and sampled a new area of gold mineralization situated a few hundred metres west from where reconnaissance drilling in 2021 hit gold in two holes, including a near-surface interval of 4.0m averaging 2.03 g/t Au. The gold in this new area occurs in highly deformed and altered metasedimentary rocks (quartzites). The highest gold values from this sampling included 6.28 g/t Au, 5.04 g/t Au and 4.07 g/t Au (See Figure 1).

Finally, the Company reports that it has secured exploration permits for three more of its tenement blocks covering approximately 22km2 (see Figure 2). These permits are strategically located proximal to important gold-hosting geologic units and structures. The Company has completed reconnaissance work in these areas and believes they all warrant more detailed exploration. The new permits allow for mechanized work including base of till sampling and drilling.

Carl Lofberg, CEO, commented “We are pleased to be kicking off 2024 with first quarter drill results from our Mustajärvi Project, encouraging new rock sampling results from the Jeesiö Project, and significant new exploration permits in the very active Central Lapland Greenstone Belt. We are excited to see the new drill results from Mustajärvi in the next couple of weeks. And our exploration pipeline remains full, even after optioning our Kolho Property to Agnico Eagle in December.”

Jeesiö Project Program Details

The 100%-controlled Jeesiö Project covers approximately 74.6 km2 along the Sirkka Shear Zone, a trans-crustal structure that controls the emplacement of numerous 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 more than 4 kilometres, apparently related to en echelon northerly striking younger (“D3” or “D4”) structures. The high-resolution airborne magnetics data reveal multiple generations of folding and faulting across the southern part of the property. 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.

During the summer and fall of 2023 the Company performed detailed bedrock and boulder mapping and sampling at the Saittavaara prospect in an attempt to extend the Kataja Belt farther west (see Figure 1). The mapping identified new areas of outcrop where strongly deformed and locally weathered sericitic quartzite often contains oxidized pyrite and is sometimes cut by quartz veining. The new occurrence is situated approximately 400 metres west of previously reported drill holes that encountered near-surface gold mineralization (see Company news release dated August 3, 2021). In total, the team collected 28 samples from the Saittavaara area of which 13 samples exceeded 0.1 g/t and five exceeded 1.5 g/t gold. The highest-grade samples contained 6.28 g/t, 5.04 g/t, and 4.07 g/t gold, respectively.

figure1

Figure 1. Kataja Belt Gold Targets (Jeesiö Project) near Sodankylä, Finland

In addition to bedrock and boulder mapping, FireFox extended the Katajavaara area ground magnetic survey towards the north, focusing on the KJ Hill prospect, where highly anomalous gold values were previously detected during trenching and bedrock sampling (see Company news release dated January 25, 2023).

The FireFox technical team has now delineated four clusters of gold anomalies with very limited drilling along a corridor of approximately four kilometres, stretching from KJ Hill in the north to the new anomalies in the southwest (termed the Kataja Belt). These gold anomalies are hosted in a range of rock types from metasediments to gabbros and metavolcanics. The rocks are strongly deformed due to intense folding and faulting in the area, and the new magnetic data is expected to improve understanding of the structural and lithological settings that are likely to host the gold along the Kataja Belt.

New Exploration Permits

The Finnish Safety and Chemicals Agency (TUKES) has granted three new exploration permits called Pikkulehto, Nunara and Palvasenvuoma, which together cover nearly 22km2 of Finland’s Central Lapland Greenstone Belt (CLGB). In Finland, the exploration permit allows for mechanized exploration including base of till sampling and drilling (Figure 2).

The Pikkulehto exploration permit area (ML2022:0001-01) is located less than 4 km east of the main Mustajärvi permit and covers roughly 3.2 km2. It will be managed together with the Mustajärvi project. The new permit is situated adjacent to a major geological structure, the Venejoki shear zone, and close to the interpreted contact between the Sodankylä and Savukoski Group rocks. Based on the current understanding, the bedrock geology includes quartz-rich metasedimentary rocks, gabbros and mafic volcanic rocks, while graphitic schists and cherts of the Savukoski Group lie less than one kilometer to the NW from the permit. Two historic gold occurrences, Pikku-Mustavaara and Tuongankuusikko, are located within approximately a 1 km radius from the permit boundaries. The Geological Survey of Finland (GTK) and Outokumpu conducted limited exploration within the permit area, including only four drill holes with depths less than 20 metres, and minimal surface sampling (only 18 till samples). Under the previous exploration permit application, the Company conducted limited bedrock and boulder mapping within the Pikkulehto area, yielding one anomalous gold value with of 0.427 g/t from a boulder that was intensively albitized and enriched in pyrite.

The Nunara exploration permit (ML2021:0002-01) covers an area of almost 9 km2 and is situated almost ten kilometers north of the Mustajärvi Project. The permit lies very near the interpreted trace of the Sirkka Shear Zone, which roughly tracks along the northern permit boundary of Nunara. Geologically, the area is interpreted as the contact zone between the Kittilä Suite mafic volcanic rocks and Savukoski Group ultramafic volcanic rocks, while isolated outcrops of the younger Kumpu Group quartzites pop out in the area as topographic highs. There are several historic gold occurrences nearby, the closest being Kittilän Palovaara (less than 4 kilometers to the west) and Outapää (3 kilometers to the east). The Company is not aware of any previous drilling within the permit area, and only minor till sampling was previously reported by the GTK (a few tens of samples along one north-south trending line).

The third newly granted exploration permit covers a portion of the Company’s Manto Project. Palvasenvuoma (ML2022:0085-01) is located roughly 10 kilometers southwest of the Kittilä gold mine (operated by Agnico Eagle Mines Ltd.) and covers an area of 9.5 km2. According to current understanding the

figure2

Figure 2. FireFox Northern CLGB Properties with New Exploration Permits Outlined in Black

bedrock consists of Kittilä Suite mafic volcanic rocks and mafic graphitic tuffs, with similarities to the geology of the Kittilä gold mine. GTK completed an exploration campaign in the area between 2002 and 2005. This included a base of till (BOT) sampling program over approximately 5km2, including 546 samples in a 100-metre spaced grid. The GTK reported that one of the till samples assayed 11 g/t Au. In addition to BOT sampling, GTK also performed some geophysical surveys and bedrock drilling, including 32 shallow drill holes. The drilling campaign totaled 1,570.6 metres where the deepest drill holes reached 68 metres. The geophysical surveys identified a possible NNE-SSW-trending shear zone, which resembles the Kiistala Shear Zone (host to the Kittilä Mine).

Methodology & Quality Assurance

Rock chip samples reported in this news release were collected by FireFox geologists, who transported the samples to the Company’s secure facility in Sodankylä. After documentation and insertion of quality assurance samples, the rock samples were delivered 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). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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, which consists of blind insertion of certificated standard material and blanks 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.

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 large 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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

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 illness, extreme weather, changes 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 2024. 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.

 

 

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO .S. WERE SERVICES

Vancouver, British Columbia – December 20, 2023 – FireFox Gold Corp. (TSX.V: FFOX; OTCQB: FFOXF) (“FireFox” or the “Company”) today announced that it closed a non-brokered private placement of 22,507,840 units of the Company (“Units”) at a purchase price of $0.075 per Unit, for total gross proceeds of $1,688,088 (the “Private Placement”). Concurrent with the Private Placement, FireFox, together with its wholly-owned subsidiary FireFox Gold Oy, entered into an earn-in agreement (the “Earn-in Agreement”), pursuant to which FireFox Gold Oy granted a subsidiary of Agnico Eagle Mines Limited (“Agnico”) the right to earn an interest in the Kolho properties located in northern Finland (the “Kolho Property”).

Patrick Highsmith, Chairman of FireFox commented on the transactions, “We are excited to form this alliance with Agnico Eagle. Not only does the strategic investment recognize the potential of our more advanced projects, such as Mustajärvi, but the option agreement also demonstrates the geological potential of our Kolho Property. We are proud to add Agnico Eagle to our roster of strong shareholders as the strategic backbone for our future growth through discovery.”

Carl Löfberg, CEO of FireFox added, “Our company was the first junior gold explorer built around a Finland-based CEO and Finland-based exploration management. Now we are part of a growing community of local and international mining professionals in Finland, and we find ourselves working closely with Europe’s largest gold miner. We look forward to working with the Agnico Eagle team at the Kolho Property.”

Private Placement

Pursuant to the Private Placement, the Company issued 19,010,000 Units to Agnico at a purchase price of $0.075 per Unit, for gross proceeds of $1,425,750. Each Unit is comprised of one common share of the Company (“Common Share”) and one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one Common Share (a “Warrant Share”) at an exercise price of $0.10 per Warrant Share for a term of five years following the closing of the Private Placement, subject to adjustment and an acceleration of the expiry date upon the occurrence of certain events. The proceeds of the Private Placement will be used for drilling and exploration expenditures on FireFox’s Mustajärvi project, other exploration investment on the Company’s projects in Lapland, and general working capital.

On closing of the Private Placement, Agnico will own 19,010,000 Common Shares and 19,010,000 Warrants, representing approximately 10.9% of the issued and outstanding Common Shares on a non-diluted basis and 19.6% of the Common Shares on a partially-diluted basis.

In connection with the Private Placement, FireFox entered into an investor rights agreement with Agnico (the “Investor Rights Agreement”). Pursuant to the Investor Rights Agreement, Agnico is entitled to certain rights, provided Agnico maintains certain ownership thresholds in FireFox, including: (i) the right to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership interest in FireFox at the time of such financing or acquire up to a 19.99% ownership interest, on a partially diluted basis, in FireFox; and (ii) the right to nominate one person to the board of directors of FireFox. Agnico has not elected to exercise this right as of the closing of the Private Placement.

Crescat Portfolio Management LLC (“Crescat”) exercised its participation right and subscribed for 3,497,840 Units on the same terms as Agnico for additional gross proceeds of $262,388. Upon closing, Crescat will own 31,188,969 Common Shares and 8,050,678 Warrants, representing approximately 17.8% of the issued and outstanding Common Shares on a non-diluted basis and 21.5% of the Common Shares on a partially-diluted basis. Crescat has agreed to restrict the exercise of any Warrants if to do so would result in Crescat owning or controlling 20% or more of the then issued and outstanding Common Shares of the Company (calculated on a non-diluted basis), provided that Crescat may exercise all of its Warrants in certain circumstances (including for the purpose of participating in a take over bid, arrangement, amalgamation or similar transaction, or change in control of the Company), subject to compliance with applicable securities laws including obtaining prior requisite disinterested shareholder and TSX Venture Exchange (“TSXV”) approvals.

The participation of Crescat in the Private Placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSXV Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. In connection with his related party transaction, the Company is relying on the formal valuation and minority approval exemptions of 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the portion of the Private Placement subscribed for by Crescat does not exceed 25 percent of the Company’s market capitalization.

The Common Shares and Warrants issued in connection with the Private Placement and the Warrant Shares underlying the Warrants are subject to a statutory hold period of four months plus one day from the date of completion of the Private Placement, in accordance with applicable securities legislation.

Option Agreement

The Kolho Property is a group of exploration permit applications and one exploration permit (Nuttio) that occupies a prospective structural corridor northeast of Rupert Resources’ Ikkari discovery and FireFox’s Sarvi property (see Figure 1 below). The Kolho Property covers more than 120 km2, and FireFox has completed detailed airborne magnetic surveys and limited reconnaissance mapping and sampling in the area.

Pursuant to the terms of the Earn-in Agreement, FireFox granted Agnico an exclusive right to earn a 51% interest in the Kolho Property by incurring exploration expenditures totaling US$5,000,000 before the fifth anniversary of entering into the Earn-in Agreement (the “Earn-in Grant Date”), of which US$2,000,000 will be a committed amount required to be spent on or prior to the third anniversary of the date that certain permits are granted in respect of the Kolho Property.

Upon Agnico earning a 51% interest in the Kolho Property, Agnico and FireFox will enter into a joint venture agreement (the “JV Agreement”), pursuant to which, Agnico will become the operator of the venture and be entitled to a 5% management fee. Under the JV Agreement, Agnico will be granted the right to acquire an additional 24% interest in the Kolho Property by incurring additional exploration expenditures totaling US$7,500,000 before the eighth anniversary of the Earn-in Grant Date. A portion of the Kolho Property is subject to an existing 1.5% net smelter return royalty.

Neither the Earn-in Agreement nor the Private Placement affect any of FireFox’s other mineral rights in Lapland. The Company maintains 100% control of its Mustajärvi Project, as well as the Jeesiö and Sarvi properties where earlier stage exploration targets are being advanced. 

For more information concerning the Company, please refer to the Company’s profile on the SEDAR+ website at www.sedarplus.ca and the Company’s website at www.firefoxgold.com.

firefoxgold 20dec2023

Figure 1: Location of Kolho Property.

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 large 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.

Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the terms and conditions of the JV Agreement; anticipated payments under the Earn-in Agreement and JV Agreement, including any advancement on the Kolho Property; the terms and conditions of the Private Placement; anticipated use of net proceeds from the Private Placement, including any advancement on the Mustajärvi project; and Crescat’s exercise of all of its Warrants and the Company obtaining requisite disinterest shareholder and TSXV approvals in connection therewith. Often, but not always, forward-looking statements or information can be identified by the use of words such as “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, FireFox has made numerous assumptions including among other things, assumptions about general business and economic conditions. The foregoing list of assumptions is not exhaustive.

Although management of FireFox believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to FireFox’s financing efforts; risks associated with the business of FireFox; business and economic conditions in the industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time. FireFox does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

For more information, please contact:

FireFox Gold Corp.

Carl Löfberg

Chief Executive Officer

FireFox Gold Corp.

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-938-1994

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO .S. WERE SERVICES

VANCOUVER, BC – (September 11, 2023) – FireFox Gold Corp. (TSX.V: FFOX) (OTCQB: FFOXF) (“FireFox” or the “Company”) announces, effective today that, subject to regulatory acceptance, it has completed the first tranche of the non-brokered private placement (the “Private Placement”) announced on August 8, 2023. The Company intends to complete a second tranche of the Private Placement before September 28, 2023.

In this first tranche, the Company has raised total gross proceeds of $323,499 by issuing 4,621,414 units of the Company at a purchase price of $0.07 per unit. 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 $0.10 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

FireFox will pay qualified finders $840 in cash finder’s fees and will issue 12,000 finders warrants exercisable at $0.10 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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 large portfolio of prospective ground.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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 expected total financing amounts, terms, and timeframe; 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.

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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO .S. WERE SERVICES

VANCOUVER, BRITISH COLUMBIA – (August 8, 2023) – FireFox Gold Corp. (TSX.V: FFOX) (OTCQB: FFOXF)(“FireFox” or the “Company”) announces that it intends to raise up to $1,400,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 20,000,000 units of the Company (“Units”) at a price of $0.07per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.10 per Warrant Share for a term of two years following the closing of the Offering.

It is anticipated that the proceeds of the Private Placement will be used for the upcoming drilling program on FireFox’s Mustajärvi project, general working capital, and other exploration activities on the Company’s other gold exploration properties in Finland. Prior to this financing, FireFox had 147.8 million shares outstanding, 38.3 million warrants outstanding, and 11.3 million stock options issued.

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. The Company anticipates that the Private Placement will close on or about August 25, 2023. The Company expects to pay finder’s fees in association with this financing.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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.

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SODANKYLÄ, FINLAND – (July 27, 2023) – FireFox Gold Corp. (TSX.V: FFOX) (OTCQB: FFOXF) (“FireFox” or the “Company”) is pleased to report the results from the final four holes of the spring 2023 core drilling campaign at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill holes 23MJ005, 23MJ007, 23MJ008 and 23MJ009 at the East Target all encountered significant intervals of gold mineralization (Figure 1). Most encouraging were the holes to the southwest of the previous high-grade zone, which highlight the potential for significant expansion of the East Target in this direction. Company geologists also conducted a limited test trenching campaign over the surface expression of the East Target. The first trench revealed bonanza grade gold mineralization including 6.87 metres that averaged 59.12 g/t Au on the basis of uncut results from 1-kilogram screen fire assays (Figure 3 and Table 3).

Drill hole 23MJ005 hit strong mineralization in an 80-metre step-out to the southwest from the previously drilled western-most high-grade hole. Results include:

    • 4.20m averaging 5.74 g/t Au from 60.8 metres down hole, and

    • 7.05m average 4.77 g/t Au from 68.0 metres down hole,

      • including 1.0 metre at 20.8 g/t Au.

Drill hole 23MJ008 was a further 135-metre step-out to the southwest, for a total of approximately 215 metres step-out from the previous high-grade area. The hole included multiple intervals of significant gold from near surface to 180 metres depth, confirming the potential for expansion of the target in this direction. Results include:

    • 2.0 m averaging 4.75 g/t Au from 29.0 metres down hole;

      • including 0.8 m at 11.1 g/t Au; and

    • 7.0 m averaging 1.77 g/t Au from 112.0 metres down hole; and

    • 1.0 m at 0.61 g/t Au from 180 metres down hole.

Drilled in the opposite orientation, drill hole 23MJ009 confirmed the continuity of the southwestern step-out between 23MJ005 and the historic high-grade holes, with multiple gold intervals between 75 and 156 metres down hole. Highlights of the results include:

    • 5.55 m averaging at 4.45 g/t Au from 75.55 metres down hole;

Carl Lofberg, FireFox’s CEO, commented about the new results, “We are very pleased with these exciting step-out drill holes from the high-grade East Target. New mineralization amid thick zones of alteration located more than 200 metres southwest from previous drilling is a significant indication of the expansion potential of Mustajärvi. The East Target remains open to the south, southwest, and northeast. It is also exciting that our first attempt to trench into the system from surface has revealed such high grades beneath only a few metres of glacial overburden. This trenching exercise improves 

our understanding of the shallow gold shape, its orientation, and the controls on bonanza grade. We are very much looking forward to bringing the drill back to Mustajärvi in August.

Two trenches were excavated through the glacial overburden into weathered bedrock. The purposes of the test trenching were to evaluate conditions for possible additional trenching, gather structural information about foliation, veining, and faulting, and to sample the newly exposed bedrock. The team collected diamond saw channel samples from both trenches. Trench 1 included approximately 10.0m of contiguous gold mineralization, including individual uncut values of 256 g/t Au, 72.5 g/t Au, 52.8 g/t Au, and 45.02 g/t Au (see Figure 3 and Table 3 for additional details). During the sampling, geologists reported the presence of considerable coarse gold, so all samples were analysed by screen fire assay. Trench 2, located north of the main gold system, contained much lower gold grades, but it provided useful structural measurements and data points for the geological model.

Discussion of Drill Results

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 14,158 metres to date, and drilling has delineated three different lodes of gold mineralization along more than 1.5 kilometres of strike so far. Due to its near-surface high-grade nature, the Company has been focusing most recently on the East Target. Figure 1 shows the most recent drill holes at the East Target in relation to previous drilling and ground magnetics data.

As reported in the June 14, 2023 news release, the spring 2023 drilling program at Mustajärvi was focused on filling some gaps in the drilling and testing for extensions to the south, west, and southwest. These first four holes from that program have improved confidence in the high-grade core of the East Target and established control of an important fault on the south side of the target, which has been confirmed as mineralized (see FireFox news release dated July 18, 2023).

Drill hole 23MJ005 was designed to test the low magnetic - high chargeability corridor interpreted as trending southwest from the East Target. The drill hole was collared approximately 80 metres southwest from the western limits of the previously defined high-grade mineralization at the East Target, as defined by drill hole 22MJ022 and reported in the FireFox news release dated January 18, 2023. Hole 23MJ005 was drilled at a 325° azimuth with a plunge of 60° to intersect the target corridor at a favorable angle.

The hole entered altered metasediments starting below glacial sediments at a depth of 8.7 metres, and it passed through thin sections of mafic volcanics and gabbro. The main mineralized zone was intersected within an altered sequence of intermediate tuffites, sometimes interbedded with less altered mafic volcanic rocks, from 60.80 to 75.05 metres. This interval included two separate gold mineralized intervals, 4.20m of 5.74 g/t and 7.05m of 4.77 g/t, including several higher-grade intervals and a maximum assay of 20.77g/t Au, as shown in Table 1.

The mineralized interval is pervasively albitized and silicified with weaker development of sericite; and it exhibits a well-developed foliation that is nearly perpendicular to the core axis. The richest gold zones are cut by quartz-carbonate± tourmaline+pyrite veins (QCTP) that are often accompanied by patchy, semi-massive and coarse-grained pyrite. The mineralized veins are at variable angles to the foliation and the core axis but are often nearly parallel to the core axis over short intervals. Since

Figure 1 - Mustajärvi Location Map with Recent Drilling over Ground Magnetics

figure1

this drill hole is well away from any previous drilling it is difficult to confirm the orientation of the controlling structure in this area, but it appears to conform with the NE-SW striking major fault zone.

Moderate to strong alteration continues to 115 metres depth, including veins, breccias, and noteworthy gangue minerals. The mineral molybdenite is reported at 92 metres depth associated with quartz veining and an anomalous gold assay of 0.234 g/t. Multielement assays, including molybdenum, are pending.

This drill hole confirms the continuation of the shallow high-grade gold mineralization at Mustajärvi East for at least 80 metres. The strong gold intercepts and intense alteration fall directly in the geophysical target corridor predicted by the IP and magnetics survey. There is lots of room to expand these intercepts to the southeast and southwest along the projected structures that mark the Mustajärvi fault zone.

Drill holes 23MJ006 and 23MJ007 were designed to test for a northern extension of the structural jog and the gold mineralized R' veins intersected by holes 22MJ023 and 22MJ024 during the 2022 drilling campaign (see FireFox news releases dated January 18, 2023 and February 15, 2023). Drill hole 23MJ006 collapsed at a depth of 32 metres down hole and was therefore twinned by hole 23MJ007, collared 2 metres from the original site. The completed hole intersected mafic volcanic rocks (and dykes?) starting beneath the glacial sediments at 5.75 metres depth and passing into dominantly metasedimentary lithologies comprised of intermediate tuffites (with pyrite mineralized veins) and lesser mafic volcanic rocks (usually barren) at approximately 40 metres depth.

The rock is generally less altered this far north from the main system, but there remains widespread albite alteration with lesser silica and pyrite in the tuffites. The dominant foliation in the hole is nearly perpendicular to the core axis, while veins are evident both perpendicular and parallel to core axis. The hole intercepted 3.7 metres averaging 3.17 g/t Au from 52.0 metres depth, including 0.7 m at 4.8 g/t Au. The gold appears to be correlated with patchy and coarse-grained pyrite hosted in QCTP veins that are dominantly parallel to foliation. The host rock in this interval is strongly albitized, intensely brittle fractured intermediate tuffites. At greater depths in the hole, the gold seems to be associated with narrow veins at multiple orientations, but the alteration continues to be extensive.

Drill hole 23MJ008 was planned after the initial logging of hole 23MJ005, including the visual observation of pyrite mineralization. This drill hole was a major step-out of over 215 metres to the southwest within the “low magnetic - high chargeability corridor” from the high-grade gold zone at the East target, a further 135 metres southwest from the collar of 23MJ005. The hole also tested another interpreted structural jog along the Mustajärvi Fault Zone. Drill hole 23MJ008 was successful at intercepting multiple gold-mineralized QCTP veins, as well as clear evidence of the continuation of the alteration system into an untested area between the Northeast Target and the East Target (See Figure 2 – Long Section). The hole yielded 11 samples mineralized above the cut-off grade of 0.5 g/t gold within a very broad untested structural corridor.

Figure 2 – Long Section of Mustajärvi Fault Zone and Drill Indicated Gold Lodes

figure2

Once again, the upper portion of the hole (to approximately 26m downhole) is dominated by mafic intrusive rocks (gabbro). The drill cut 7.75 metres of glacial overburden before passing into the strongly altered and sheared mafic intrusive rocks. At 25.9 metres down hole, the gabbro gives way to pervasively albitized intermediate tuffite metasediments, which exhibit variably abundant QCTP veining. The dominant foliation is perpendicular to the core axis, but its fabric is often destroyed by albite-silica-sericite alteration. Disseminated pyrite is widespread in the hole, but clots and blebs also occur in veins (at a variety of angles to core axis) and replacing (?) foliation.

The first mineralized interval was encountered just below the contact with the metasediments at a depth of 29.0 metres down-hole, an interval of 2.0m averaging 4.75 g/t Au. The mineralization is 

hosted by a series of QCTP vein with patchy pyrite. Another narrow, mineralized zone occurs at 82.5m down hole depth, returning 1.5 metres averaging 3.20 g/t Au. This gold zone is hosted in veins and vein breccias within highly fractured albitized and silicified intermediate tuffites. The pyrite occurs both as veins, stringers along foliation, and disseminations.

The main mineralized zone was intersected from a depth of 112.0 metres with 1.77 g/t Au over 7.0 metres, including 4.0 m averaging 2.79 g/t Au and one assay interval of 0.7 m at 11.67 g/t Au. Pyrite is associated with the gold, as is typical at Mustajärvi, occurring as clumps of coarse-grained pyrite and vein-controlled pyrite. This mineralized interval occurs just below a 22m thick interval of moderately altered gabbro. Mineralization within the gabbroic rocks is comprised of disseminated and quartz-carbonate vein hosted pyrite.

The intermediate tuffites are commonly crosscut by altered gabbroic dykes or sills. Molybdenite mineralization hosted in altered gabbro was observed at approximately 142 metres down hole. Molybdenite appears on fracture surfaces and as stringers related to quartz-carbonate veining. This type of molybdenite mineralization has not been observed at the Mustajärvi Project before. The molybdenite mineralization has been identified visually by the geologists on-site and has been routinely cross-checked using a hand-held pXRF device. Multielement assays, including molybdenum, are pending.

Drill hole 23MJ009 was designed to fill in between the East Target and the newly discovered mineralization in 23MJ005. It was collared approximately 100 metres towards NE from 23MJ005 and drilled with an azimuth of 145°, effectively in the opposite direction.

The hole initially hit altered intermediate tuffites, which were interrupted by altered mafic intrusive rocks of gabbroic composition, at approximately 21 metres down hole. Contact into the strongly altered intermediate tuffite that hosts mineralization was made at a depth of 52.8 metres down hole. The gabbros in this drill hole are variably but sometimes strongly altered and brecciated with disseminated and vein hosted pyrite and chalcopyrite mineralization.

Foliation is less evident in this hole than some, as it is often at a lower angle to the core axis, but folding is evident in the metasediments. Intense alteration commences below the gabbro where the tuffites are albitized and silicified over broad intervals, which often host QCTP veins and disseminated sulphides. The veins are chaotic in orientation and often brecciated, particularly when well mineralized.

The main mineralized zone was intersected starting from 75.55 metres depth and returned 5.55 metres averaging 4.45 g/t Au, including 1.1m at 15.27 g/t Au. This was followed by two narrow vein-controlled gold intervals of lower grade over the next few metres. This interval is comprised of patchy and semi-massive pyrite mineralization in strongly altered tuffites as well as QCTP veins. The alteration continues deeper in the hole, often fracture controlled and diminishing somewhat with depth, but gold-bearing QCTP veins reoccur between 146 and 158 metres depth.

Table 1: Significant Drill Intercepts in Drillholes 23MJ005 – 23MJ009

(Cut-off Grade 0.5 g/t Au)

Drill Hole

 

From (m)

To (m)

Interval (m)

Au Grade (g/t)

23MJ005

 

53.00

54.30

1.30

1.62

   

60.80

65.00

4.20

5.74

 

Including

64.10

65.00

0.9

13.80

   

68.00

75.05

7.05

4.77

 

Including

70.00

71.00

1.00

20.77

23MJ007

 

52.00

55.70

3.70

3.17

   

86.10

86.80

0.70

0.73

23MJ008

 

29.00

31.00

2.00

4.75

   

50.00

50.85

0.85

1.13

   

82.50

84.00

1.50

3.20

   

112.00

119.00

7.00

1.76

   

125.60

126.70

1.10

0.92

   

180.00

181.00

1.00

0.61

23MJ009

 

75.55

81.10

5.55

4.45

   

85.00

86.00

1.00

1.17

   

88.00

89.00

1.00

0.78

   

146.00

147.00

1.00

0.61

   

149.00

150.00

1.00

1.29

   

156.00

158.00

2.00

1.36

Notes: Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geologic modelling. Au grades are uncapped.

Table 2: Mustajärvi Drilling 2023 Collar Information

(coordinates presented in EPSG:3067)

 

Drill Hole

Easting

Northing

Azimuth

(°)

Plunge

(°)

Final Depth (m)

23MJ005

429005

7500964

325

60

152.1

23MJ006

428990

7501053

60

50

32.1

23MJ007

428988

7501052

60

50

168.9

23MJ008

428927

7500851

340

60

194.4

23MJ009

428972

7501059

145

45

194

 

Test Trench Program Details

FireFox also completed two test trenches at the East Target to evaluate conditions for possible additional trenching, gather structural information about foliation, veining, and faulting, and to sample the surface exposure of the system. In order to minimize cost and environmental impact, the test was conducted in an easily accessible area with no forest cover. The trenches were excavated close to the location of the surface projection of shallow gold intersections from drill holes 23MJ001, 23MJ004 and 22MJ022 (see Figure 3).

Trench 1

Trench 1 was oriented NW-SE and exposed strongly weathered and altered bedrock below glacial sediments of varying depths, from 6.0m at the northern end to 7.5m at the southern end of the trench.

Summarizing the geology from north to south, the first 4.5 metres of the excavation exposed weathered intermediate tuffites with minor interbedded mafic volcanics. From 4.5 metres to the end of trench at 13 metres, the exposed bedrock is intensely altered and weathered intermediate tuffites, in which original textures are largely destroyed as it has been altered and weathered to orange-red clay. There are isolated relict quartz-tourmaline veins and veinlets, as well as cubic casts of abundant iron oxide after pyrite. Much of the red and orange colour is likely the result of oxidation of large amounts of pyrite, so the exposure may be called a gossan in places.

 

Figure 3. Mustajärvi East Target Exploration Trench Locations and Trench 1 Details

figure3

Channel sampling of Trench 1 returned high-grade mineralization in multiple contiguous samples as shown in Table 3, including 6.87 metres that averaged 59.12 g/t Au on an uncut basis. Individual bonanza grade samples in the interval include: 0.84m at 256 g/t Au, 0.77m at 72.5 g/t Au, 1.02m at 52.8 g/t, and 1.15m at 45.02 g/t Au. The high-grade gold mineralization is hosted in supergene clay material (altered and weathered bedrock) with relicts of quartz-tourmaline veins and minor veinlets. Locally, tourmaline comprises massive clots up to 20 cm in size. In addition, two chip samples were collected outside of the channel sampling, returning 25.9 g/t Au and 57.5 g/t Au.

The mineralization exposed in the trenches was thoroughly oxidized, and this supergene process may locally enrich gold grades relative to fresh rock. More work will be required to ascertain the degree (if any) of supergene enrichment. The same observation has been noted about high-grade gold in oxidized drill core from Mustajärvi.

FireFox geologists also collected some large samples for heavy mineral and gold separation work.

Trench 2

Due to the texture-destructive weathering encountered in Trench 1, a second trench was added to the program in search of fresher bedrock from which measurements could be taken on foliation, veins, and other structures. Based in part on mapping and observations of overburden thickness, Trench 2 was located approximately 20 metres to the northwest of Trench 1.

Trench 2 successfully exposed pristine bedrock with well-preserved structural features and common quartz-tourmaline-pyrite veinlets. Most of exposed veinlets were aligned either NE-SW (close to EW) or NW-SE. The exposed bedrock was composed primarily of weathered tuffites and other metasediments with lesser interbedded mafic volcanics.

While gold was highly anomalous in much of Trench 2, only one of the channel samples exceeded 0.5 g/t Au, that sample contained 2.92 g/t Au over 1.56m (Table 3). In addition, the team collected six rock chip samples from the trench, apart from the channel sampling, one of which contained 15 g/t Au.

Table 3. Channel Samples collected from the Trenches 1 and 2 – Gold by Screen Fire Assay

Trench

Type

Interval (m)

From (m)

To

(m)

Sample Wt. (kg)

Au (g/t)

(uncut)

Trench1

Overburden (no sample)

1.01

0.00

1.01

-

-

Channel sample

1.01

1.01

2.02

3.2

0.09

Channel sample

1.04

2.02

3.06

5.62

0.08

Channel sample

0.87

3.06

3.93

3.63

0.47

Channel sample

0.92

3.93

4.85

4.36

0.37

Channel sample

1.28

4.85

6.13

4.11

0.18

Channel sample

1.15

6.13

7.28

3.17

45.2

Channel sample

0.77

7.28

8.05

4.58

72.5

Channel sample

1.02

8.05

9.07

4.5

52.8

Channel sample

0.99

9.07

10.06

4.09

4.33

Channel sample

0.77

10.06

10.83

3.79

3.16

Channel sample

0.84

10.83

11.67

4.6

256

Channel sample

0.79

11.67

12.46

3.95

10.05

Channel sample

0.54

12.46

13.00

4.52

27.4

Trench2

Overburden (no sample)

1.02

0.00

1.02

-

-

Channel sample

1.15

1.02

2.17

2.45

0.11

Channel sample

0.97

2.17

3.14

3.66

<0.05

Channel sample

0.93

3.14

4.07

3.13

0.09

Channel sample

0.85

4.07

4.92

1.74

0.14

Channel sample

0.99

4.92

5.91

2.17

0.25

Channel sample

1.56

5.91

7.47

4.3

2.92

Channel sample

0.60

7.47

8.07

5.01

0.13

Channel sample

1.05

8.07

9.12

2.29

0.31

Channel sample

1.00

9.12

10.12

3.94

0.26

Channel sample

1.23

10.12

11.36

4.52

0.05

Channel sample

0.95

11.36

12.31

2.93

<0.05

 

Mustajärvi East in Three Dimensions

The new trenching information fits well with the evolving geological model and three-dimensional understanding of the East Target. There is a core zone of very high-grade gold that comes to surface and is elongated in NE-SW direction. This shape has an apparently gentle dip to the southwest. It has been tested with drilling in multiple directions because it hosts both replacement-style gold-pyrite mineralization controlled by foliation and high-angle QCTP veins at various orientations. Figure 4 is a preliminary cross section, oriented NW-SE and looking to the southwest.

Figure 4 - Preliminary Cross Section through East Target Looking SW (23MJ001 and 002).

figure4

There appear to be brittle faults that cut the Mustajärvi East deposit, and these are interpreted to be late (post-mineral). One significant fault strikes northeasterly and may cut off the surface deposit and downdrop part of the mineralization to the south. The geometry remains complex, but intercepts in holes 22MJ025 and 23MJ003 appear to have cut high grades that suggest more mineralization at depth in that direction. This relationship can be seen in multiple cross sections, but it is well expressed in Figure 5, another NW-SE preliminary cross section that includes 22MJ025 and 23MJ003.

Figure 5 – Preliminary Cross Section through East Target Looking SW (22MJ025 and 23MJ003).

figure5

Methodology & Quality Assurance

Drill core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 drill core samples to an ALS sample prep lab in Sodankylä. The samples were sawed 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). All samples exceeding 10.0 g/t Au were re-assayed in triplicate by fire assay of 50 gm aliquots with a gravimetric finish (method Au-GRA22).

Trenches were channel sampled with a diamond saw for the entire exposure in order to extract large consistent samples while cutting primary structures and veins as close to true thickness as possible. Where the rock integrity was compromised by weathering and alteration, geologists collected the samples with hammer and chisel. FireFox team members transported samples to an ALS sample prep lab in Sodankylä. The samples were crushed to -2 mm and pulverized into 1kg pulps, before being shipped to the ALS facility in Rosia Montana, Romania for gold by screen fire assay (AU-SCR24).

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.

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 large 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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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 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.

 

 

SODANKYLÄ, FINLAND – (July 18, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to report the results from the first four holes of the spring 2023 core drilling campaign at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill holes 23MJ001, 23MJ002, 23MJ003 and 23MJ004 at the East Target all encountered several significant intervals of gold mineralization and extended the mineralization to the northwest, southwest, southeast, and downdip. Each hole yielded assays above 10.0 g/t gold.  Highlights of selected intervals are shown below, while Table 1 includes all significant intercepts:

  • 23MJ001
    • 11.95m averaging 9.69 g/t Au from 5.4 metres down hole (includes 0.3 metres of core loss);
      • including 0.75m at 94.50 g/t Au; and
    • 5.35m averaging 8.09 g/t Au from 37.25 metres down hole;
      • including 0.85 m at 28.87 g/t Au.
  • 23MJ002
    • 7.35 m averaging 2.40 g/t Au from 60.0 metres down hole;
      • including 1.0 meter at 10.51 g/t Au; and
    • 9.00 m averaging 1.06 g/ Au from 103.0 metres down hole.
  • 23MJ003
    • 9.50 m averaging 2.08 g/t Au from 155.5 metres down hole;
    • 2.45 m averaging 15.22 g/t Au from 248.65 meters down hole;
      • including 1.45m at 24.16 g/t Au.
  • 23MJ004
    • 20.45 m averaging at 5.14 g/t Au from 12.0 metres down hole;
      • including 0.75 m at 23.92 g/t Au;
      • including 3.15 m at 13.69 g/t Au;
      • including 0.9 m at 20.83 g/t Au; and
    • 14.8 m averaging 6.00 g/t Au from 54.0 metres down hole;
      • including 3.45 m at 19.43 g/t Au , which includes 1.55 m at 34.72 g/t Au.

Carl Lofberg, FireFox’s CEO, commented about the new results, “The drill results from Mustajärvi continue to reveal thicker replacement-style gold mineralization that is very near surface. These four holes have filled in some gaps in the heart of the East Target and confirmed an expansion of the system to the south with a 120m step out hole. These results also confirm the presence of at least two directions of controlling structures - the main lode has been confirmed as plunging to the southwest and deeper high-grade intercepts reinforce the importance of the northeast trending vein system. We have much more data on the way, as results from the final four holes of this drill program are still pending and our team has commenced a trenching program at Mustajärvi East.” 

Firefox intends to release updated long and cross sections later in July, along with results from the final four drill holes in the spring 2023 drill program.

Discussion of Drill Results

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The project remains at an early stage. FireFox and predecessor companies have drilled approximately 14,158 metres, and drilling has delineated three different lodes of gold mineralization along more than 1.5 kilometres of strike so far. Due to its near-surface high-grade nature, the Company has been focusing most recently on the East Target. Figure 1 shows the surface traces of the most recent drill holes and mineralization at the East Target in relation to those from previous drilling and ground magnetics data.

As reported in the June 14, 2023 news release, the spring 2023 drilling program at Mustajärvi was focused on filling some gaps in the drilling and testing for extensions to the south, west, and southwest.  These first four holes from the program have improved confidence in the high-grade core of the East Target and established control of an important fault on the south side of the deposit, which has been confirmed as mineralized.  

Figure 1 - Mustajärvi Location Map with Recent Drilling over Ground Magnetics

figure1

Drill holes 23MJ001 and 23MJ002 were drilled along a northwest-southeast fence in an opposing scissors fashion. The first hole was drilled at an azimuth of 320°, while the second drillhole was directed at 140°.  Their drillhole traces parallel each other, approximately 15 metres apart. The holes were designed to test the western side of the shallow high-grade replacement style mineralization and probe for downdip extensions of the Riedel veins that often host high-grade gold. This orientation of drilling cuts perpendicular to the first order structures at Mustajärvi. In this part of the property, the Mustajärvi fault zone is represented by multiple splays that trend northeast, and this direction is an important control in both replacement-style and vein hosted mineralization.

In addition to infilling a gap in the geological model on the western side of the target, 23MJ001 tested for deeper vein-controlled mineralization north of the main lode. The hole was collared in thin glacial till sediments overlying strongly weathered intermediate tuffites. Just below the glacial sediments, the tuffites are pervasively albitized, sericitized and silicified, with fracture-controlled (secondary) kaolinite. The hole is dominantly hosted in the intermediate volcaniclastic sediments, but there are multiple mafic and ultramafic interbeds and possible dikes. Faulting is evident in the hole, sometimes associated with zones of high pyrite, and mylonite zones appear deeper in the hole.  Pyrite, often oxidized, is abundant in the shallow portions of the hole, occurring as disseminations, patches and clots along foliations and fractures, and in veins. In the deeper portions of the hole, pyrite is most often associated with quartz-carbonate-tourmaline veins.   

Gold mineralization starts immediately beneath the glacial cover at a depth of 5.4 m, where 23MJ001 cut an interval averaging 9.69 g/t Au over 11.95 m, including 37.24 g/t Au over 2.25 m. The narrower high-grade zones are usually associated with massive pyrite and faulting, but the longer interval exhibits clear evidence of gold accompanying the albite-silica-sericite-pyrite replacement. As is commonly seen at Mustajärvi, early albite appears to make the rock brittle and the gold mineralization enters later either with massive silica and pyrite or in crosscutting brittle veins. In these shallow intercepts, gold may be enriched by the process of oxidation, but this has yet to be confirmed as high-grades carry into primary sulphide-bearing intervals.

There is additional high-grade mineralization sporadically down hole to 51 m depth, with an additional wider zone starting at 37.25 m that averaged 8.09 g/t Au over 5.35m (See Figure 2 for a photo of the drill core). Numerous mylonite zones in the hole are mineralized, such as a 0.8m sample from 171m depth, which contained 1.23 g/t Au.

Drill hole 23MJ002 is the northernmost collar to date at the East Target. This hole was designed to undercut the near-surface replacement-style mineralization and test its western downdip continuation. The hole passed through a more monotonous sequence of intermediate tuffites, which is cut by numerous faults and veins, but mafic rocks were much less abundant than in 23MJ001. The hole encountered 21 individual mineralized samples above the cutoff grade of 0.5 g/t Au between 33.0 and 127.0 metres depth. From 60.0 m depth, there is a 7.35 m interval averaging 2.40 g/t Au, including 1.0 m at 10.51 g/t, which is associated with vein breccias and mylonite. There is also deeper lower-grade mineralization, as is commonly seen south of the heart of the system.

Drill hole 23MJ003 was collared across the highway more than 120 metres southeast of any previous drilling at the East Target. The hole was directed northwest at an azimuth of 320° towards deep mineralization previously intersected by drill hole 22MJ025 (see FireFox news release dated February 15, 2023), which returned 1.2 m at 8.75 g/t Au from 251 m depth and several intervals above 1.0 g/t Au. In addition, this hole tested the predicted contact between Savukoski group ultramafic rocks and Sodankylä group metasediments.

The contact between the ultramafic volcanics and the metasedimentary intermediate tuffites was successfully intersected at a depth of 152 metres. The ultramafic rocks near the contact are talc-carbonate-chlorite altered, locally with disseminated sulphides. The contact zone is strongly mylonitized and the rocks immediately beneath the contact are strongly altered, reflecting pervasive albite and fracture-controlled sericite-kaolinite. The footwall intermediate tuffites reflect regular interbeds of mafic and ultramafic volcanic rocks and several faults and mylonite zones. The hole intersected several mineralized intervals with weak disseminated pyrite mineralization associated with sericite-kaolinite.

While most of the intercepts in 23MJ003 are comparatively narrow, several of the significant drill intercepts are associated with albite-silica-sericite-pyrite replacement. Quartz-carbonate-tourmaline-pyrite veins and veinlets are also widespread in this drill hole. At 155.5 m depth, the hole intersected an interval of 9.50 m averaging 2.08 g/t Au, including 1.0 m at 8.63 g/t Au. Mineralization in this zone is hosted in albite-quartz-sericite alteration with local carbonate-tourmaline veinlets. 

At approximately the same depth as previously drilled in the area, 22MJ003 confirmed a significant deep high-grade zone of gold mineralization. This interval was 2.45m averaging 15.22 g/t Au, including 1.45m at 24.16 g/t Au, from 248.65 metres deep. The high-grade zone is hosted in quartz-albite fault breccia (possible hydrothermal breccia) with disseminated pyrite mineralization and associated quartz-tourmaline and tourmaline veinlets (See Figure 3 for a photo of the drill core). In total, drill hole 23MJ003 intersected 14 individual mineralized intervals above the cutoff grade of 0.5 g/t Au.

Drill hole 23MJ004 was collared on the east side of the East Target, directed at an azimuth of 240° to evaluate the near-surface replacement zone and its continuation down plunge to the southwest. The southwest drill direction enables testing of the northwest oriented faults. The thickest and highest-grade gold zones at Mustajärvi East appear to be controlled by intersections of both prevailing structural directions. Figure 1 shows that this hole begins in the magnetic low known to host the near-surface high grade gold and plunges into a subtle magnetic low corridor to the southwest. 

Immediately beneath a thin veneer of glacial sediments (5.7 metres downhole), the hole passed into intermediate tuffites, which are pervasively albitized and strongly oxidized. The volcaniclastic rocks continue to the bottom of the hole at 175.5m, but the sequence is cut by gabbro dikes and occasional interbeds of mafic tuffs. In total, this hole encompassed 41 individual samples that assayed above the cutoff grade of 0.5 g/t Au. Mineralization started at 12 m depth, where the hole intersected a near-surface pyrite mineralized zone, which returned 20.45m averaging 5.14 g/t Au. This interval included multiple short higher-grade intercepts, including 3.15m at 13.69 g/t Au, and 0.75 m at 23.92 g/t Au. The gold in this zone correlates with moderate to strong concentrations of pyrite that occur in several modes, including replacement-style on foliations and fractures, as well as stringers and veinlets. A photo of the drill core is linked as Figure 4.  

Another high-grade zone was intercepted at 54.0 m depth, spanning an interval of 14.8m that averaged 6.00 g/t Au, including 3.45 m at 19.43 g/t Au. This interval is also dominated by replacement-style pyrite and pervasive silicification and variable sericite and kaolinite.        

As shown in Table 1, several additional well-mineralized intervals were intercepted between 89m and 155m depth. Gold mineralization is consistently associated with pyrite, most often in quartz-carbonate-tourmaline-pyrite (QCTP) veins and veinlets cutting pervasively albitized intermediate tuffites. The silica-sericite-pyrite replacement zones with gold normally occur in the metasedimentary (tuffite) rock package. Pyrite also commonly forms individual massive stringers along brittle fractures.

It is noteworthy that drill hole 23MJ004 ends in mineralization. Just beneath a mylonite zone in ultramafic volcanic rocks, the rock becomes heavily veined and fractured. The drill was likely entering a fault zone, where recovery became difficult. The final sample was a veined and brecciated intermediate tuffite with pervasive albite and silica, bladed calcite, and traces of visible pyrite. The last 0.9m sample from 174.6 m depth assayed 4.25 g/t Au.

It is clear from these drill holes that the Mustajärvi East system persists to depth with numerous examples of QCTP veins and breccias containing more than 3.0 g/t gold having no follow-up drilling yet.

Table 1: Significant Drill Intercepts in Drillholes 23MJ001 – 23MJ004
Cutoff Grade 0.5 g/t Au

Drill Hole

From (m)

To (m)

Interval (m)

Au Grade** (g/t)

23MJ001

5.40

17.35

11.95*

9.69

Including

5.40

7.00

1.60

15.93

Including

11.00

17.35

6.35

14.02

Which includes

15.90

16.65

0.75

94.50

28.55

29.25

0.70

4.41

30.80

31.80

1.00

1.05

37.25

42.60

5.35

8.09

Including

37.25

38.10

0.85

28.87

Including

41.70

42.60

0.90

19.97

50.00

51.00

1.00

3.59

171.00

171.80

0.80

1.23

23MJ002

33.00

34.00

1.00

1.84

38.00

41.00

3.00

0.56

60.00

67.35

7.35

2.40

Including

61.00

62.00

1.00

10.51

70.00

71.00

1.00

3.67

77.00

78.00

1.00

3.59

96.00

98.00

2.00

0.76

103.00

112.00

9.00

1.06

Including

106.80

107.80

1.00

4.33

114.00

115.00

1.00

0.76

122.00

123.00

1.00

3.43

127.00

128.00

1.00

0.59

23MJ003

155.50

165.00

9.50

2.08

Including

158.50

159.50

1.00

8.63

Including

164.00

165.00

1.00

6.60

171.00

171.70

0.70

2.24

203.60

204.60

1.00

1.27

208.50

209.50

1.00

2.01

211.60

212.60

1.00

1.72

223.90

224.90

1.00

1.34

248.65

251.10

2.45

15.22

Including

248.65

250.10

1.45

24.16

268.60

269.30

0.70

0.92

23MJ004

12.00

32.45

20.45

5.14

Including

14.50

15.25

0.75

23.92

Including

21.60

24.75

3.15

13.69

Also includes

24.05

24.75

0.70

28.00

Including

27.10

32.45

3.70

6.91

Also includes

27.10

28.00

0.90

20.83

Also includes

31.80

32.45

0.65

15.97

45.60

50.00

4.40

0.79

54.00

68.80

14.80

6.00

Including

55.90

59.35

3.45

19.43

57.80

59.35

1.55

34.72

Including

65.50

66.20

0.70

12.83

89.00

93.90

4.90

4.70

including

91.50

93.90

2.40

8.83

114.00

115.00

1.00

0.76

123.20

126.70

3.50

0.98

152.00

153.00

1.00

1.15

171.00

171.95

0.95

2.46

174.60

175.50

0.90

4.25

Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geologic modelling.

* Intercept includes 0.3 m of core loss. The lost interval was assigned a grade of 0.0 g/t Au for all calculations.

** Au grades uncapped.

Table 2: Mustajärvi Drilling 2023 Collar Information

(coordinates presented in EPSG:3067)

Drill Hole

Easting

Northing

Azimuth

(°)

Plunge

(°)

Final Depth (m)

23MJ001

429085.4

7501026

320

60

188

23MJ002

429037.1

7501068

140

50

151.7

23MJ003

429214

7500912

320

60

284

23MJ004

429111

7501055

240

50

175.4

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). All samples exceeding 10.0 g/t Au were re-assayed in triplicate by fire assay of 50 gm aliquots with a gravimetric finish (method Au-GRA22).  

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 approves the technical information in this news release.

Dr. Sven Hönig, Certified European Geologist (EFG EurGeol Title # 1789) and General Manager - Exploration of 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 large 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 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.

SODANKYLÄ, FINLAND – (June 29, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to report the results from its second reconnaissance diamond drilling campaign at its 100%-held Sarvi Gold Project in Lapland, Finland.

This drilling campaign included four drill holes, totalling 611 metres. These holes were designed to test a combination of geochemical anomalies (till and rock sampling) and structural/geological targets (See Figure 1). The drilling was not successful in identifying high-grade gold, but the drill holes did encounter quartz-carbonate (tourmaline) veining with sulphides, as well as sulphide-bearing carbonaceous sediments above a contact with mafic volcanic rocks.

FireFox’s CEO, Carl Löfberg, commented, “We are pleased that this program, despite having been cut short due to spring snow conditions, has provided significant information to advance our understanding of this high-priority property. We have identified attractive host lithologies and low levels of mineralization, while also confirming that more till sampling is essential to our drill targeting. We are now planning our winter till sampling program to continue our systematic exploration at Sarvi. In the meantime, the team is excited to focus on the upcoming drill results from our Mustajärvi project, where we are confident that we will continue to grow our high-grade East Target.

Overall, these drill results were similar to the first phase of drilling in 2022 (see Company news release dated May 27, 2022). A few highlights from the drill hole analyses follow:

  • Weakly anomalous gold in two of the four holes, with no values above 0.100 g/t;
  • Widespread areas of anomalous copper, including narrow intercepts of 841, 652, and 605 ppm;
  • Anomalous multielement geochemistry in all holes, generally consistent with the till results:
    • Elevated silver (Ag), arsenic (As) antimony (Sb), copper (Cu), bismuth (Bi), molybdenum (Mo), tellurium (Te), zinc (Zn), and other elements; and
  • Drill hole 23SA004 passed through a fault zone with polymetallic enrichment and weakly anomalous gold, including:
    • 2.23 ppm Ag, 652 ppm Cu, 1,680 ppm Zn, and 0.044 g/t Au over 1.35m from 16.0m depth.

The most important finding from this phase of drilling is that the mudstones and black shales at Sarvi are likely the best hosts for gold, silver, and base metal mineralization. This is consistent with previous drilling on the property completed by the Geological Survey of Finland (GTK) in 2009.  Assays from two historical holes located approximately 5km west of FireFox’s Phase 2 drill holes reportedly include 1.6 metres averaging 1.1 g/t Au from 26.4 metres depth (drill hole M371209R5) and 0.5 metres averaging 3.57 g/t Au from 69.5 metres depth (drill hole M371209R8). [This drilling was carried out by previous operators and has not been independently verified by the Company’s Qualified Person. Reported intervals are core lengths and true thickness has not been estimated at this time.]  The FireFox team is reviewing the historical drill core from these holes. The preliminary interpretation is that these intercepts occur in similar metasedimentary rocks to those hosting low-grade gold, silver, and base metals elsewhere at Sarvi. This geological unit appears to extend across the Sarvi permits, creating target settings on which to focus future exploration where this metal rich stratigraphy is cut by late-stage faulting.

In the upcoming exploration season, FireFox intends to extend base-of-till (BoT) sampling into new areas and increase the sampling density with a focus on the metasedimentary rock package. Interpreted structures and/or magnetic anomalies that are believed to cut the black shales and mudstones will be the highest priority for more sampling and drilling.

20230628 SarviProject DrillHolesBoTandrocksamplesovergeology

Figure 1 – Sarvi Project: Drill Holes, BoT, and Rock Samples Over Geology

Project and Program Details

The Sarvi Project (“Sarvi”) is part of the Company’s large land package immediately north of Rupert Resources’ Area 1 Project (Ikkari Deposit). The project is centred on the Sarvi exploration permit and includes two additional exploration permits, Sarvi-2 to the north and Keulakko to the west, for a total permitted area of 21 km2. The Sarvi permits cover a portion of the Kittilä Suite of volcanic rocks, which is cut by several interpreted faults.  The project is at a very early stage; however, the geological understanding has been advanced through a compilation of detailed magnetics from both drone-based and ground surveys combined with almost 1,600 BoT samples and a total of 2938.8 metres of drilling.  Much of the property is covered by glacial sediments, so outcrop is rare, but the technical team has identified a number of structures and lithologic contacts as targets based on detailed magnetics data.

Drill holes 23SA001 and 23SA002 were collared 42 metres apart and drilled in a south oriented drill fence. The holes tested a steep magnetic gradient that is coincident with a surface rock sample that yielded 1.47 g/t Au and 1.86% Cu (see Company news release dated August 24, 2021). These drill holes intersected mafic volcanic rocks including some evidence of shearing and folding with locally intense quartz-carbonate veining, including chalcopyrite, pyrite, tourmaline, and iron carbonate. Gold assays were all close to or below the detection limit, however, both holes returned multiple assays with elevated copper (>300pppm) including a high sample of 841ppm copper in 23SA002. This latter sample was accompanied by elevated cobalt (100.5ppm) and arsenic (105.5ppm).

Drill hole 23SA003 was collared approximately 1.4 kilometres southeast of 23SA001 and 23SA002. In this area, a magnetic high is apparently cut by late faulting and the BoT samples were anomalous in arsenic and copper. The drillhole was aimed to the south and passed through a thick section of mafic volcanic rocks.   A two-metre interval starting at 132metres returned elevated copper with an average of 605ppm Cu. 

Drill hole 23SA004 was located approximately 750 metres north from 23SA003. The target for this hole was a strong geochemical anomaly in the BoT sampling, including elevated silver, arsenic, bismuth, tellurium, and molybdenum. These elements are often enriched in Lapland gold systems. The hole intersected an interval of abundant pyrite in graphite-bearing mudstones and black shales above a gradational contact with the underlying volcanic rocks. The drill hole passes into mafic volcanic rocks (likely tholeiitic basalts) at approximately 91m downhole and continuing until final depth of 235 metres. Establishing the presence of this contact between the sulphide-bearing mudstones and the basalt is very useful for ongoing work at Sarvi.  

Results from this hole correspond well with the BoT geochemistry, with anomalous gold and the associated pathfinder elements above the contact with the volcanics. There were multiple narrow intervals in the hole with elevated silver, copper, cobalt, zinc and other elements.  The best interval occurred near surface at 16.0m depth: 1.35m containing 2.23 g/t Ag, 0.044 g/t Au, 652 ppm Cu, 121.5 ppm, and 1,680 ppm Zn.

Table 1. Sarvi Drill Collar Data (coordinates presented in EPSG:3067)

Drill Hole ID Easting Northing Final Depth
(m)
Azimuth
(˚)
Plunge
(˚)
23SA001 454494 7501662 109 180 -45
23SA002 454493 7501620 116 180 -45
23SA003 455749 7500934 151 180 -45
23SA004 455768 7501675 235 180 -45

Methodology & Quality Assurance

FireFox geologists selected individual intervals of drill core for analysis based on visible mineralization and/or alteration and/or structural deformation.

FireFox team members transported rock and core 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). Multielement results are normally reported from ALS – Ireland from a four-acid digestion followed by ICP-AES analyses (method ME-ICP61).

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 blind certificated standard material and blanks into the analytical batches, and results reported here 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.

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 large 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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, 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 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.

SODANKYLÄ, FINLAND – (June 14, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to announce that it has completed a drilling program at the newly discovered high-grade zone in the East Target of the Mustajärvi Project. The Company drilled nine (9) diamond core holes totalling 1540.6 metres during the short spring 2023 program. These drill holes were designed to infill gaps in the modelled near-surface gold shapes and test for significant extensions to the west and southwest (see Figure 1). The new holes included close offsets and downdip tests of the replacement style gold mineralization drilled in the East Target, but the drilling also included major step-outs of 80m and 220m along strike to the southwest.  Assays of the drill core are in progress.

The Company has also received multielement geochemical analyses on the drill core from the fall 2022 drilling campaign. The most recent data are consistent with previous results from Mustajärvi drilling; the gold mineralization is consistently enriched in bismuth (Bi), tellurium (Te), molybdenum (Mo), selenium (Se), nickel (Ni), and cobalt (Co). Silver (Ag), arsenic (As), and copper (Cu) occur at relatively low levels at Mustajärvi. Cobalt is quite enriched at the East target, reaching maximum values of 0.497% and 0.461% over separate 1 metre samples in the 2022 drilling. Drill hole 22MJ021 recorded the strongest cobalt interval yet drilled, along with one of the best gold results as well (see Company news release dated January 18, 2023):

  • 22MJ021: 15.5m at 13.09 g/t Au, 0.15% Co, and 143 ppm Te from 11.0m depth, including
    • 6.5m at 19.18 g/t Au, 0.27% Co, and 247 ppm Te from 20.0m depth.

FireFox’s CEO, Carl Löfberg, commented about the drilling at Mustajärvi, “This drill program is meant to reveal the potential scale of the gold system we have been drilling at Mustajärvi.  The combination of careful structural measurements and detailed interpretation of geophysics directed the team to focus the step-out drilling along a northeast-southwest corridor. Our preliminary impressions are that the new drilling has been successful in extending the mineralized corridor to the southwest. The elevated cobalt that is associated with the gold is a recurring theme at Mustajärvi. While we know the cobalt occurs in pyrite, which is also correlated with the gold, there remains a lot of work to understand whether the cobalt could be economically recovered. We look forward to the receipt of the gold and multielement assays from this latest round of drilling.”  

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometres of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 14,158 metres to date.

Figure 1 Spring 2023 drilling campaign at Mustajärvi East Target infill and step out holes. min

 Figure 1 - Spring 2023 drilling campaign at Mustajärvi East Target - infill and step out holes.

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms, replacement style, and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target. The Central Zone and East Target have clear expressions of significant grade and thickness of gold mineralization at surface, whereas the gold at the Northeast Target is concentrated between 100 and 150 metres below surface. Folding and extensive faulting are in evidence, suggesting the potential for locating much more gold around and between these three widely spaced targets.

The spring 2023 drilling at Mustajärvi was focused on the East Target with a primary goal to extend known, shallow high-grade mineralization. FireFox geologists have collected structural geology evidence indicating that a primary control on the East Target mineralization trends to the southwest. The detailed ground magnetics also revealed a subtle corridor of less magnetic rocks trending to the southwest beneath the highway. There is also a chargeability anomaly in the area, immediately SW of the latest drilling, that may mark the presence of sulphide minerals. The high chargeability zone strikes northeast and dips to the southeast, subparallel with the inferred lithological contact and slightly oblique to the MSZ. The nature of the elevated chargeability was untested until this drill program. The drilling was targeted based on a combination of FireFox’s 3D geological model, structural geology, and geophysics. Due to the near-surface nature of the high-grade target in this area, most of the drill holes in this program were shallow (See Table 1).

Drill holes 23MJ001 and MJ002 were aimed at the western side of the shallow high-grade replacement style mineralization and downdip extensions of the Riedel veins that often host high-grade gold. 23MJ001 undercut a bonanza grade intercept in 22MJ024 (3.4m at 50.91 g/t Au from 91.8m depth), which was reported on February 15, 2023. Both of these holes evaluated the downdip continuation of the thicker replacement style zones of mineralization in the centre of the East Target.

The team stepped out over 100m to the south with drill hole 23MJ003, which was aimed back to the northwest to probe for a key lithologic contact and shear zone. Drill hole 22MJ025 had intercepted narrow intercepts of 14.53 and 8.75 g/t gold at depth, but it failed to reach the shear zone (see Company news release dated February 15, 2023). The FireFox geological model predicts that jogs in the sheared contact between the Sodankylä group and Savukoski group rocks are associated with the strongest gold occurrences along the shear zone. The new drill hole passed through the contact at the approximate depth predicted. The shear zone has now been drilled over a strike length of more than 2.2km despite numerous complex jogs and displacements in the feature.

Drill holes 23MJ004 and 23MJ007 are drilled along a northeast-southwest direction, roughly parallel to the MSZ. This alternative direction of drilling yielded excellent results during a first test, as reported in the January 2023 FireFox news release. In this area, there is a well-developed zone of thicker replacement style mineralization that comes very close to surface and is interpreted to plunge to the southwest. Drill hole 23MJ007 cuts across an interpreted structure and passes through a strong magnetic low on the northwest of the known gold zone. These holes could offer meaningful extensions to the heart of the East Zone mineralization. Drill hole 23MJ006 was lost due to drilling difficulties and replaced with 23MJ007.

Drill holes 23MJ005 and MJ009 were drilled along northwest-southeast section lines, separated by approximately 20 metres. One hole was aimed to the northwest and the other to the southeast in order to test both shallow and deeper portions of the combined IP chargeability and magnetic anomaly that extends west from the East Target.

The team executed a bold step-out drill hole with 23MJ008. It was collared approximately 120 metres southwest from 23MJ005 and more than 220 meters southwest from 22MJ022. The structural geology and apparent controls on the shallow high-grade parts of the East Target appear to indicate a southwest plunge.  That pattern is echoed by the complex patterns seen in the detailed ground magnetics. This drill hole was directed at crosscutting the prevailing shear direction and testing a new corridor of low magnetics that may define another zone of alteration. 

Firefox Gold geologists are actively working with the new drill core, logging geology, and making measurements. Samples are still being delivered to the laboratory and assays are pending for all of this drilling. More information can be expected during the coming weeks.

Table 1. Mustajärvi Spring 2023 Collar Information (coordinates presented in EPSG:3067).

Drill Hole

Easting

Northing

Azimuth (°)

Plunge (°)

Final Depth (m)

23MJ001

429085

7501026.4

320

60

188

23MJ002

429037

7501068.4

140

50

151.7

23MJ003

429214

7500911.7

320

60

284

23MJ004

429111

7501055

240

50

175.4

23MJ005

429005

7500964

325

60

152.1

23MJ006

428990

7501053.5

60

50

32.1 (failed)

23MJ007

428988

7501052.4

60

50

168.9

23MJ008

428927

7500851.2

340

60

194.4

23MJ009

428972

7501058.5

145

45

194

Methodology & Quality Assurance

The multielement analytical results reported herein are from drill core samples processed by ALS Laboratories. After receipt of gold assays, the FireFox team selects subsets of samples to be subjected to multielement geochemical analyses. These data are reported from ALS – Ireland using a four-acid digestion followed by ICP-AES and ICP-MS analyses (method ME-MS61).

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 blind certificated standard material and blanks into the analytical batches, and results reported here 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 - Exploration of 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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, costs and supply of materials relevant to the mining industry, changes in government and changes to regulations affecting the mining industry.

Forward-looking statements in this release may include statements regarding: evolving geological interpretations; continuity of geological targets; timing for completion of assays; intent to conduct additional drilling; belief as to the location of the most prospective gold targets; the location of targets for future drill programs; and the scale and scope of 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.

 

VANCOUVER, BC – (June 8, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group (“ITG”) to provide market-making services in accordance with TSX Venture Exchange policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the objectives of maintaining a reasonable market and improving the liquidity of the Company’s common shares.

Under the agreement, ITG will receive compensation of CAD$6,000 per month in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with a 30 days’ notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities.

About Independent Trading Group

Independent Trading Group (ITG) Inc. is a Toronto based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

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, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SODANKYLÄ, FINLAND – (May 31, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to report the completion of a second diamond drilling campaign at its 100%-held Sarvi Gold Project in Lapland, Finland.

The Sarvi Project (“Sarvi”) is part of the Company’s large land package immediately to the north of Rupert Resources’ Area 1 Project (Ikkari Deposit). The project is centred on the Sarvi exploration permit and includes two additional exploration permits, Sarvi-2 to the north and Keulakko to the west, for a total permitted area of 21 km2 (see Figure 1). The Sarvi permits cover a portion of the Kittilä Suite of volcanic rocks, which is cut by several interpreted faults.   

This follow-up reconnaissance drilling campaign at Sarvi included four drill holes, totalling 611 metres. These holes were designed to test a combination of geochemical anomalies from base-of-till (BoT) sampling and structural/geological targets (See Figure 2). The geological understanding of the project has been advanced through a compilation of detailed magnetics from both drone-based and ground surveys combined with almost 1,600 BoT samples. This round of drilling encountered quartz-carbonate (tourmaline) veining with sulphides, as well as sulphide-bearing carbonaceous sediments at a contact with mafic volcanic rocks. Drilling in 2022 also encountered sulphide-rich graphite bearing tuffs and schists that contained highly anomalous gold and silver (see Company news release dated May 27, 2022).

The drilling was terminated early due to rapid onset of melting. Assays are pending for all four drill holes.

FireFox’s CEO, Carl Löfberg, commented about the Sarvi drilling, “We continue to advance our portfolio of assets in Lapland, drilling on two of our five permitted projects during the winter 2023 program. Despite a shortened program at Sarvi due to the onset of spring conditions, the winter drilling was very valuable. The team identified sulphide minerals in three of the four holes and drilled an important sediment-volcanic contact. We can see evidence for multiple stages of deformation at the project along with anomalous gold, silver, and a suite of pathfinder elements that has been shown to be important in Lapland. As is the case for numerous projects in this area, outcrop is sparse, so we plan to expand our base-of-till sampling program to support more drilling. In the meantime, we look forward to receipt of the assays for these four holes.

Geology and Details of the Sarvi Drill Program

Drill holes 23SA001 and 23SA002 were collared 42 metres apart and drilled in a south oriented drill fence. The holes tested a steep magnetic gradient that is coincident with a surface rock sample that yielded 1.47 g/t Au and 1.86% Cu (see Company news release dated August 24, 2021). These drill holes intersected mafic volcanic rocks including some evidence of shearing and folding with locally intense quartz-carbonate veining, including  chalcopyrite, pyrite, tourmaline, and iron carbonate.

Drill hole 23SA003 was drilled approximately 1.4 kilometres southeast of 23SA001 and SA002. In this area, a magnetic high is apparently cut by late faulting and the BoT samples were anomalous in arsenic and copper. The drillhole was aimed to the south and passed through a thick section of mafic volcanic rocks.

Figure1 Sarvi project location min

Figure 1- Sarvi Project Location

Drill hole 23SA004 was located approximately 750 metres north from 23SA003. The target for this hole was a strong geochemical anomaly in the BoT sampling, including elevated silver, arsenic, bismuth, tellurium, and molybdenum. These elements are often enriched in Lapland gold systems. The hole intersected a sediment-volcanic contact with abundant pyrite in graphite-bearing mudstones and black shales. The pyrite-bearing section appears similar to the anomalous gold and silver intercept from the west side of the property in 2022. Below this interval, the drill hole passes through a gradational contact with mafic volcanic rocks (likely tholeiitic basalts) at approximately 91m downhole. Establishing the presence of this contact between the sulphide-bearing mudstones and the basalt is very useful for ongoing work at Sarvi.

The drilling fleet was subsequently moved to the Mustajärvi Project area for additional drilling around the high-grade East Target.   

Figure 2 Spring Drilling Locations BoT and Rock Samples Over Ground Magnetics min

Figure 2 - Spring Drilling Locations, BoT, and Rock Samples Over Ground Magnetics

Methodology & Quality Assurance

FireFox team members transported rock and core 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). Multielement results are normally reported from ALS – Ireland from a four-acid digestion followed by ICP-AES analyses (method ME-ICP61).

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 blind certificated standard material and blanks into the analytical batches, and results reported here 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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

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, 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 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.

 

SODANKYLÄ, FINLAND – (April 19, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to report that it has been granted a new exploration permit covering nearly 20km2 along a major geologic break (“the Kolho Trend”) in Finland’s Central Lapland Greenstone Belt (CLGB) (see Figure 1, below).

The Kolho Trend occupies a 23-kilometer-long section of a key thrusted contact zone that is deformed around older granitic rocks. Regional mapping by the Geological Survey of Finland (GTK) and limited exploration along the trend has revealed evidence of complex faulting and folding from multiple deformation events. Bedrock geology is interpreted to include mafic to ultramafic volcanic rocks, graphitic schists, and quartz-rich clastic rocks that have been thrust onto Archean basement to the east. These rock units are part of the assemblages that host Agnico Eagle’s Kittilä Mine and Rupert Resources’ Ikkari deposit.

In spite of its prospective setting, there is evidence of only very limited gold exploration along the Kolho Trend prior to FireFox gaining control of it in 2020 via an exploration reservation (see News release dated September 16, 2020). The Company subsequently applied for six exploration permits covering 122.60 km2 of the original reservation area, of which the central 19.56 km2 license, “Nuttio” is the first to be approved. Issued by Tukes, the Finnish Safety and Chemicals Agency, the exploration permit is an important step as it allows for mechanized work, including diamond drilling, exploration trenching and bottom-of-bill (BoT) sampling.

FireFox’s CEO, Carl Löfberg, commented, “Our previous surface and geophysical work secured our belief that the Kolho Trend is highly prospective for orogenic gold deposits. This huge new Nuttio permit is just the first of several we expect to receive to cover the entire trend, allowing us to control exploration and discovery in an exciting new area. We are eager to get started, so we have mobilized a BoT rig to take advantage of the remaining winter drill season with a brief sampling program.”

Since 2020 FireFox has undertaken reconnaissance exploration and completed airborne magnetics over the area. The FireFox team worked jointly with GoldSpot Discoveries on an integrated interpretation of the geophysical data along the Kolho Trend. In addition to the multiple generations of deformation that are evident in the Kolho thrusting and shearing corridor, there are also prominent N-S and NE oriented linears that appear to be later stage structures (see Company news release dated May 12, 2022). The presence of these late crosscutting structures is consistent with the setting of the Kittilä Mine along the Kiistala shear zone (~20km NW).

Based on this targeting work, FireFox selected the Nuttio permit as the first project to move forward along the Kolho Trend. The Company has mobilized a BoT drill rig to Nuttio and commenced its first detailed sub-surface testing program.

April 19 2023 Fig1

Figure 1. The vast Kolho Trend, including the recently granted Nuttio permit central to the group of other in-progress permit applications (Click here to enlarge).

FireFox cautions that proximity or similar geology to another gold deposit or active mine 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 be economically viable. These factors are only cited as evidence of prospectivity of certain properties.

Quality Assurance

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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

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 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.

 
 
 
 
 
 
 
 
 
 
 
 
 

VANCOUVER, BC – (April 17, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF) (“FireFox” or the “Company”) announces, effective April 14, 2023 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the “Private Placement”) announced on February 27, 2023.

FireFox has raised gross proceeds of $978,500 by issuing 9,785,000 units of the Company at a purchase price of $0.10 per unit. 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 $0.15 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

FireFox will pay to qualified finders $4,200 in cash finders fees and will issue 42,000 finders warrants exercisable at $0.15 for 2 years from the date of issuance. FireFox will also pay $31,800 in agency fees and will issue 318,000 agency warrants exercisable at $0.15 for 2 years from the date of issuance.

Warrant Amendments

FireFox also announces that it is applying to the TSX Venture Exchange (the “TSXV”) to extend the expiry date of 8.33 million common share purchase warrants issued by the Company in connection with a private placement financing closed on April 30, 2021. This will extend the expiry date by one year to April 28, 2024. The warrants to be amended do not include any warrants issued to finders or agents. No other terms of the warrants are to be amended and the exercise price remains at $0.27.

In addition, the Company is also seeking approval from the TSXV to re-price 2.53 million common share purchase warrants from an exercise price of $0.18 to $0.12. The re-pricing request pertains to a non-brokered private placement closed by the Company on November 15, 2022. FireFox’s objective in re-pricing the warrants is to bring them in line with the exercise price of another non-brokered private placement closed very shortly thereafter on December 19, 2022, in which the warrant exercise price was $0.12. The warrants in question have an expiry date of November 15, 2024.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: 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 expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC – (March 31, 2023) – FireFox Gold Corp. (TSX.V: FFOX) (OTCQB: FFOXF)(“FireFox” or the “Company”) announces, effective March 29, 2022 that, subject to regulatory acceptance, it has completed the first tranche of the non-brokered private placement (the “Private Placement”) announced on February 27, 2023. The Company intends to complete a second tranche of the Private Placement before April 14, 2023.

In this first tranche, the Company has raised total gross proceeds of $623,500 by issuing 6,235,000 units of the Company at a purchase price of $0.10 per unit. 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 $0.15 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of 500,000 units under the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61 101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

FireFox will pay to qualified finders $2,700 in cash finder’s fees and will issue 27,000 finders warrants exercisable at $0.15 for 2 years from the date of issuance in association with the first tranche of the Private Placement. FireFox will pay $12,000 in agency fees and will issue 120,000 agency warrants exercisable at $0.15 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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 expected total financing amounts, terms, and timeframe; 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

 

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BRITISH COLUMBIA – (February 27, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) announces that it intends to raise up to $2,500,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 25,000,000 units of the Company (“Units”) at a price of $0.10 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.15 per Warrant Share for a term of two years following the closing of the Offering.

It is anticipated that the proceeds of the Private Placement will be used for the spring drilling program and other exploration work on FireFox’s Mustajärvi project, exploration activities on the Company’s other gold properties in Finland, and general working capital. Prior to this financing, FireFox had 138 million shares outstanding, 28.5 million warrants outstanding, and 11.3 million stock options issued.

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. The Company anticipates that the Private Placement will close on or about March 23, 2023. The Company expects to pay finder’s fees in association with this financing.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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 expected total financing amounts, terms, and timeframe; 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

 

VANCOUVER, BRITISH COLUMBIA – (February 22, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is excited to report that Mr. Alexander Davidson has joined the company, effective immediately, in a consulting capacity as Special Advisor to the board of directors. In this role, Mr. Davidson will provide technical and strategic counsel to FireFox’s board and leadership team.

Mr. Davidson has more than 40 years of experience in designing, executing, and managing gold and base metal exploration and acquisition programs around the world. He is most well-known for his long-time presence at Barrick Gold Corporation, where he rose to Executive Vice President, Exploration and Corporate Development. At Barrick, Mr. Davidson initiated the company’s expansion of exploration out of North America into Latin America and beyond. He was also instrumental in numerous acquisitions, including Lac Minerals, Sutton Resources, Arequipa Resources, Homestake Mining, and Placer Dome, Inc. Most recently, he has served on the board of directors of Yamana Gold Inc., which has recently agreed to the sale of its Canadian assets to Agnico Eagle Mines Limited and the acquisition of its shares by Pan American Silver Corporation.

FireFox’s Co-Founder and Chairman, Patrick Highsmith, commented, “We are honoured to have Alex join FireFox as a Special Advisor. He comes to us with an unparalleled career as a geologist and as a leader in this industry. Having helped grow Barrick through so many corporate acquisitions and so much geographic expansion, he understands how to navigate new discoveries in an emerging gold terrane. Alex also has unique insights into corporate finance and transactions. His counsel and enthusiasm are welcome at FireFox, where we are exploring one of the largest portfolios of gold tenements in northern Finland.

Mr. Davidson remarked about joining the FireFox Gold team, “FireFox is in a unique position in Lapland having such a large portfolio of assets, drilling a high-grade discovery at our Mustajärvi Project, and surrounded by neighbours with much bigger capitalizations. I am a shareholder and it’s a pleasure to join the leadership who assembled this team and land package. We will work together with the geologists on the ground to maximize the value of FireFox’s projects for our shareholders.

Alex is a native of Montreal, Quebec and received B.Sc. and M.Sc. degrees in Economic Geology from McGill University. In addition to the track record of discoveries by his teams and his extensive management experience, he has significant board level experience on technical, sustainability, compensation, audit, and health and safety committees.

Issuance of Share Purchase Options

In association with this appointment, FireFox also reports that its board of directors has approved the grant of 800,000 incentive stock options to certain staff and consultants. This grant of options is subject to the terms and conditions of the Company’s incentive stock option plan, which has been approved by shareholders, and approval by the TSX Venture Exchange and regulatory authorities. The options are valid

for five years from the date of issuance and exercisable at a price of $0.12 per share, a 9% premium to the closing price of the stock on Tuesday, February 21, 2023.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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: maximizing value of the Company’s projects; 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 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.

SODANKYLÄ, FINLAND – (February 15, 2023) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to report the remaining results of the successful fall 2022 core drilling campaign at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill holes 22MJ024 and 22MJ025 at the East Target both encountered significant near-surface high-grade gold and extended the East Target mineralization to the northwest, southeast, and downdip. These holes were drilled along two different sections separated by 25m (See Figure 1). Drill hole 22MJ024 further delineated a western lobe of shallow high-grade gold first discovered in 22MJ022 (Company news release dated January 18, 2023). Whereas 22MJ025 further defined the eastern lobe of surface high grade defined by 22MJ006 (Company news release dated September 6, 2022).

Highlights of selected intervals are shown below, while Table 1 includes all significant intercepts:

  • 22MJ024:

    • 13.05m at 15.04 g/t Au from 29.6m depth**, including
      • 1.2m at 35.23 g/t Au from 30.6m, and
      • 1.8m at 53.66 g/t Au from 34.6m, including 0.8m at 100.43 g/t Au, and
      • 1.05m at 39.17 g/t Au from 40.0m;
    • 3.4m at 50.91 g/t Au from 91.8m depth, including
      • 1.0m at 170.67 g/t Au from 94.2m;
  • 22MJ025:

    • 12.55m at 14.34 g/t Au from 14.3m depth, including
      • 1.0m at 64.67 g/t Au from 14.3m, and
      • 2.0m at 49.78 g/t Au from 22.8m;
    • 1.0m at 14.53 g/t Au from 73.8m depth;
    • 1.2m at 8.75 g/t Au from 251.0m depth ;

 

FireFox’s CEO, Carl Löfberg, commented, “Our drill program in late 2022 has provided the best evidence yet that Mustajärvi hosts replacement style gold mineralization with the potential for bulk tonnage at excellent grades. These most recent holes extend the outstanding results from 22MJ006 and 22MJ021 for at least 20m to the southwest and 15m to the north, while also revealing narrower high-grade structures with vertical continuity. There is plenty of room to grow the East Target in all directions, and our structural model strongly suggests that there is more of this style of mineralization to be found along the +2km strike of the system. We expect to be drilling again at Mustajärvi by April, and we intend to excavate trenches during the summer for initial metallurgical test work.”

These two holes were part of a six-hole program (977.1 metres) designed to test a new near-surface high-grade gold zone at the East Target first defined by 22MJ006 and 22MJ018. The first three of the holes also returned high-grade gold assays (see Company news release dated January 18, 2023). These results are significant because they confirm and expand a volume of near-surface replacement style mineralization with greater continuity than previously realized. The East Target also includes narrow high-grade structures oriented in at least two directions that carry mineralization to greater depths and may be contiguous with the thicker replacement zones.

The final hole of the program, 22MJ026, was at the Northeast target, the site of numerous high-grade intercepts in 2021 and 2022. It was directed to the northeast, orthogonal to most of the previous drilling in that area, to test for the northwest trending cross structures now known to be important at the East Target. The hole encountered several lower grade intercepts that are reported in Table 1.

The FireFox team continues to advance its structural model for Mustajärvi, and the work suggests numerous drill targets based on possible extensions to the northwest, southwest, and south. Multielement analytical data is also still pending for the drilling from late 2022.

Figure 1 - Mustajärvi Location Map with Recent Drilling over Ground Magnetics

Feb 15 2023 Fig1

 

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometres of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 12,600 metres to date. 

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms, replacement style, and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target (Figure 2). The Central Zone and East Target have clear expressions of significant grade and thickness of gold mineralization at surface, whereas the gold at the Northeast Target is concentrated between 100 and 150 metres below surface. Folding and extensive faulting are in evidence, suggesting the potential for locating much more gold around and between these three widely spaced targets.

 

Figure 2- Long Section View of Gold Intercepts with Surface Projection and Magnetics

Feb 15 2023 Fig2

During 2022, FireFox completed a total of 25 diamond drill holes for 3,904 metres at Mustajärvi, testing the Northeast Target, the East Target, the Gabbro Target and the Central Zone. The final program of the year included six holes totalling 977 metres, three of those holes are reported herein.

The East Target mineralization exhibits extensive albite – sericite alteration, as is typical along the MSZ, but iron oxide and iron carbonate veining are more common in this eastern part of Mustajärvi. The drill logs from the recent drilling also include increased reports of mafic rocks crosscutting and interbedded with the metasediments and tuffaceous rocks that host most of the Mustajärvi mineralization. The mafic rocks likely included mafic and ultramafic volcanic rocks, as well as crosscutting mafic dikes. Gold continues to be closely correlated with the occurrence of pyrite. Similar to previously reported holes from the East Target, the near-surface gold mineralization from the most recent holes is associated with fractures and impregnation of (partially oxidized) pyrite along fractures, forming blebs, nests, disseminated, semi-massive and massive pyrite mineralization within the host rock. The thicker intervals reported now in several drill holes present strong evidence of hydrothermal replacement of the host rock with quartz-sericite-pyrite + iron oxide. Pyrite can be seen to be replacing laminations and other sedimentary textures, particularly in the shallow portions of the East Target. In the long section vie (oriented east-northeast), the replacement style of mineralization can be seen coming to surface beneath thin glacial sediments. Its shape is controlled in party by folded bedding (foliations) in the metasedimentary rocks (Figure 3).

Figure 3 - Long Section through Mustajärvi East Target

Feb 15 2023 Fig3

The deeper mineralized intervals include the more typical quartz-carbonate-tourmaline-pyrite (QCTP) veins that are commonly seen at Mustajärvi. The vein and replacement types of mineralization may be related to separate events within a complex deformation history. There are at least two major directions of controlling structure on the Mustajärvi system, east-northeast striking (slightly oblique to the MSZ) and north-northwest striking (perpendicular to the MSZ). The structural system at the East target is interpreted as a multi-phase dextral strike-slip dominated fault system with hydrothermal replacement centred on dilational jogs developed in folded stratigraphy. The system has subsequently undergone several episodes of brittle reactivation. The latest work by the FireFox team using oriented drill core has signalled preliminary indications of fold axis control on the best-developed thicker high-grade zones.

While the multielement data is incomplete, the geochemistry of the replacement and vein styles of mineralization appears to be very similar – dominated by an association with bismuth, tellurium, molybdenum, cobalt, and nickel and low in arsenic and copper.

Hole 22MJ024 was drilled with an azimuth of 320° designed to test the western extent of the near-surface high-grade gold mineralization identified in drill holes 22MJ006, 22MJ018, and 22MJ021. It also tested for the southern and downdip extension of the intercepts reported in 22MJ022. The hole was collared approximately 33 metres southeast of 22MJ006 on a section line 25 metres to the west. As with other holes in the area, the collar location was in thin glacial sediments overlying intensely altered intermediate tuffites (See Figure 4).

Drill hole 22MJ024 intersected four gold-mineralized intervals (>0.5 g/t gold) which included both vein and replacement styles of mineralization, starting at a depth of 29.6m downhole and continuing to a depth of 100.8m (Table 1). The extensive mineralization encountered in this hole marks a significant westward extension to the East Target mineral system, and the deeper intercepts to the north bode well for the untested shallow magnetic anomaly to the north of 22MJ023.   

The near-surface mineralization was consistent with that seen in earlier holes, replacement style quartz-pyrite-sericite alteration in pervasively albitized metasedimentary or tuffaceous rocks. The zone of 13.05m averaging 15.04 g/t Au starting at 29.6 m was remarkably consistent with the similar intercepts reported in 22MJ021 and 22MJ006, approximately 30m away. It included 0.8m of core loss (22MJ021 included 1.7m of lost core). The upper mineralized zone also cut what appears to be a narrow mafic dike that was only weakly mineralized with gold but flanked by strong gold grades.

Importantly, there was also deeper high-grade gold mineralization in the hole, such as 3.4m of 50.91 g/t Au, including 1.0m at 170.67 g/t Au from 91.8m downhole depth. This deeper bonanza zone confirms the continuation of the high-grade system mineralization towards the northwest, and it may be on strike and related to similar intercepts in 22MJ006 and 22MJ022. There were numerous other narrow intercepts of gold mineralization at depth that remain open. 

Figure 4 - Mustajärvi East Target Cross Section A-A’ Looking Southwest

Feb 15 2023 Fig4

Drill hole 22MJ025 was drilled with an azimuth of 140° towards the interpreted contact between Sodankylä group metasedimentary rocks and the Savukoski group mafic-ultramafic volcanic unit. It also formed a scissor relationship with drill hole 22MJ006, which contained very high-grade surface mineralization, so that it tested the northern extension and down dip of that interval.  It was collared well to the northwest of other drilling on the section in thin glacial sediments overlying intensely altered intermediate tuffites. Encountering both thick shallow gold mineralization and deeper narrow high-grade, this hole was successful in extending the known mineral system to the northwest and the southeast. The best interval began at only 14.3m downhole and averaged 14.34 g/t gold over 12.55 metres, including narrow intervals of much higher grade. This interval was also associated with the quartz-pyrite-sericite replacement within albitized rocks (See Figure 5).

In total, this drill hole passed through 15 intervals containing >0.5 g/t Au, starting from 14.3 metres downhole (Table 1). The narrow higher-grade intercepts are connected across multiple holes, and appear to be linked to shallower replacement style gold. At 177.6 metres downhole, gold mineralization was intersected just beneath a long interval of strongly mylonitized and intensively altered metasediments, interbedded with mafic volcanics. Here the gold is associated with narrow quartz-tourmaline veining and fine-grained disseminated pyrite. FireFox geologists believe that the mylonite zones may indicate proximity to a sheared contact zone between the siliciclastic metasediments and ultramafic volcanic rocks. Even though the frequency of narrow gold intercepts was increasing with depth, the drill hole did not yet reach the contact. The last mineralized interval in this hole was sampled from 3.7 metres above the end of the drill hole, starting at a depth of 263 metres, and returned 2.0m averaging 1.14 g/t Au. Mineralization remains open to depth.

Figure 5- Mustajärvi East Target Cross Section B-B' Looking Southwest

Feb 15 2023 Fig5

Hole 22MJ026 was drilled at the Northeast Target, approximately 750 metres southwest from the recent East Target drilling. The hole was designed to test the cross structures previously noted during geologic logging of the drill core. These cross structures have proven to be significant at the East Target. It intersected intensively altered intermediate tuffites with interlayers of mafic volcanics, which might be indicating proximity to a major geological contact. It did not penetrate significant grade thickness of high-grade gold, but in total, drill hole 22MJ026 intersected three narrow intervals that assayed above 0.5 g/t Au (Table 1).

Table 1: Significant Drill Intercepts in Drillholes 22MJ024 - 22MJ026 Cut-off Grade 0.5 g/t Au

Drill Hole   From (m) To (m) Interval* (m) Au Grade (g/t) Grade Thickness (gram – metres)
22MJ024   29.6 42.65 13.05 15.04** 392.47
  including 29.6 37.2 7.6 19.24
  and including 30.6 31.8 1.2 35.23
  and including 34.6 37.2 2.6 37.66
  and including 36.4 37.2 0.8 100.43
  including 40.0 42.65 2.65 18.84
  and including 40.0 41.05 1.05 39.17
    66.0 67.85 1.85 8.67
  including 67.15 67.85 0.7 22.0
    91.8 95.2 3.4 50.91
  including 94.2 95.2 1.0 170.67
    97.65 100.8 3.15 2.26
  including 97.65 98.8 1.15 5.69
22MJ025   14.3 26.85 12.55 14.34 232.98
  including 14.3 15.3 1.0 64.67
  including 22.8 24.8 2.0 49.78
    34.2 35.2 1.0 1.93
    63.0 63.85 0.85 4.19
    73.8 74.8 1.0 14.53
    177.60 178.6 1.0 0.69
    181.0 183 2.0 4.81
    194.65 194.45 0.8 0.8
    197 197.9 0.9 1.52
    199.85 200.85 1.0 2.75
    205 206.15 1.15 0.76
    216.75 217.75 1.0 0.73
    219.75 220.8 1.0 1.22
    251.0 252.2 1.2 8.75
    257.0 260.0 3.0 0.79
    263.0 265.0 2.0 1.14
22MJ026   40.8 43 2.2 1.28 9.1
    130.9 133 2.1 1.71
    145.55 147.1 1.55 1.73

* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geologic modelling.

** Intercept includes 0.8 m of core loss. The lost interval was assigned a grade of 0.0 g/t Au for all calculations.

 

Table 2: Mustajärvi Q4 of 2022 Collar Information (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m) Status
22MJ021 429080.6 7501029.7 60 40 103.4 Reported Earlier
22MJ022 429046.5 7501009.9 60 35 151.2 Reported Earlier
22MJ023 429028.2 7501039.4 60 40 124.9 Reported Earlier
22MJ024 429098.9 7500995.5 320 35 160.5 Reported Here
22MJ025 429080.0 7501061.0 140 62 266.7 Reported Here
22MJ026 428403.0 7500706.0 40 50 170.4 Reported Here

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). All samples exceeding 10.0 g/t Au were re-assayed in triplicate by fire assay of 50 gm aliquots with a gravimetric finish (method Au-GRA22).  

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 - Exploration of 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 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.

SODANKYLÄ, FINLAND – (January 25, 2023) – FireFox Gold Corp. (TSX.V: 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.

FF NR 2023 03 Figure 1 Regional Property Map

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.

FF NR 2023 03 Figure 2 Katajavaara Belt

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

SODANKYLÄ, FINLAND – (January 18, 2023) – FireFox Gold Corp. (TSX.V: 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.

FireFox’s CEO, Carl Löfberg, commented, “Our drilling at Mustajärvi East is yielding consistent improvement in grade and thickness of the gold mineralization. In addition to the continued presence of narrow bonanza veins, our most recent drillholes have encountered replacement style mineralization over greater widths than previously seen on the project. It also happens that these new robust intercepts lie at very shallow depths in the East Target. By drilling these new holes towards the northeast, we have expanded the footprint of the high-grade system to the west, to the north, and to depth. We anticipate results from two more holes in the East Target in a few weeks.”

Highlights of selected intervals are shown below, while Table 1 includes all significant intercepts:

  • 22MJ021: 15.5m at 13.09 g/t Au from 11.0m depth*, including
      • 3.6m at 16.45 g/t Au from 14.4 metres depth, and
      • 6.5m at 19.18 g/t Au from 20.0 metres depth, including
        • 3.5m at 24.35 g/t Au from 23.0 metres depth
  • 22MJ022: 7.2m at 16.43 g/t Au from 22.8 metres depth, including
      • 3.0m at 37.9 g/t Au from 26.2 metres depth; and
    • 1.7m at 31.6 g/t Au from 86.0 metres depth
  • 22MJ023: 1.0m at 26.4 g/t Au from 53.0 metres depth
    • 4.0 metres at 4.22 g/t Au from 89.0 metres depth, including
      • 2.0 metres at 6.36 g/t Au

This drilling was prompted by the extraordinary results from drill hole 22MJ006, which returned 13.85m averaging 28.74 g/t gold from only 24 metres downhole (see Company news release dated September 6, 2022).  Drill holes 22MJ021 and 22MJ022 were drilled perpendicular to 22MJ006 to test for lateral and downdip extension of the 22MJ006 mineralization. The third drill hole in this phase of work, 22MJ023, tested the expansion of the mineralized trend farther to the north. All three drill holes returned multiple significant intercepts including high-grade gold mineralization that are expected to expand the East Target laterally and at depth.

 Jan 18 Fig 1

Figure 1 - Mustajärvi East Target Oct 2022 Drilling (Click here to enlarge)

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometres of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 12,594 metres to date. 

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target.

During the year 2022, FireFox completed a total of 25 diamond drill holes for 3,904 metres at Mustajärvi, testing the Northeast Target, the East Target, the Gabbro Target and the Central Zone. The final program of the year included six holes totalling 977 metres, three of those holes are reported herein.

The East Target mineralization exhibits extensive albite – sericite alteration, as is typical along the MSZ, but iron oxide and iron carbonate veining are more common in this eastern part of Mustajärvi. The drill logs from the recent drilling also include increased reports of mafic volcanics interbedded with the metasediments and tuffaceous rocks that host most of the Mustajärvi mineralization. Gold continues to be closely correlated with the occurrence of pyrite. Similar to previously reported holes from the East Target, the near-surface gold mineralization from the most recent holes is associated with fractures and impregnation of (partially oxidized) pyrite along fractures, forming blebs, nests, disseminated, semi-massive and massive pyrite mineralization within the host rock. The thicker intervals reported in 22MJ021 and 22MJ022 present strong evidence of hydrothermal replacement of the host rock with quartz-sericite-pyrite + iron oxide. Pyrite can be seen to be replacing laminations and other sedimentary textures (See Figures 2 and 3).

Figures 2 and 3 – Albite-quartz (+ tourmaline) alteration with pyrite replacement at East Target (Click here to enlarge)

 Jan 18 Fig 23

The deeper mineralized intervals include the more typical quartz-carbonate-tourmaline-pyrite (QCTP) veins that are commonly seen at Mustajärvi. The vein and replacement types of mineralization may be separate events, but the geochemistry is very similar – dominated by an association with bismuth, tellurium, molybdenum, cobalt, and nickel and low in arsenic and copper. There are at least two major directions of controlling structure on the Mustajärvi mineralization, east-northeast striking (parallel to the MSZ) and north-northwest striking (perpendicular to the MSZ). There are still results pending for two holes drilled along the northwest-southeast profile at the East Target, and FireFox geologists continue to study the relationship between the narrow high-grade veins and thicker replacement style of mineralization.

Hole 22MJ021 was designed to test the east-west extent of the near-surface, high grade gold mineralization identified in drill hole 22MJ006. The hole was collared approximately 28 metres west of 22MJ006 in thin glacial sediments overlying intensely altered intermediate tuffites, interbedded with mafic volcanic rocks.

The 28 mineralized intervals (>1 g/t gold) confirmed by the assays included both vein and replacement styles of mineralization, starting immediately below glacial till overburden at a depth of 11.0m and continuing to a depth of 94.65m (Table 1). The best interval reported above (15.5m averaging 13.09 g/t Au*) appears to be contiguous with the high-grade gold reported previously in 22MJ006 and extends that mineralization approximately 15m to the west-southwest. The results from the upper portion of this drillhole (11.0 to 27.5m) have been reported from a 1,000-gram screen fire assay protocol.

Hole 22MJ022 was drilled on the same profile as hole 22MJ021, approximately 40 metres to the southwest, and nearly 65 metres west of 22MJ006. Its east-plunging configuration was designed to undercut the shallow high-grade zone. It was collared in thin glacial sediments overlying intensely altered intermediate tuffites and lesser mafic sequences, and it intersected eleven intervals containing >1.0 g/t Au, starting at 20.1m downhole. The best interval started at 24.6m depth and returned 5.4m averaging 21.66 g/t Au, including 3.0 m at 37.39 g/t Au.

More importantly, hole 22MJ022 also intersected deeper high-grade gold mineralization at 86m, such deeper veins have not been commonly encountered to date at the East Target. This interval returned 1.7m averaging 31.6 g/t Au, including 0.7m at 55.06 g/t Au. The deepest interval from this hole was at a depth of 90.7m and included 2.0m averaging 6.13 g/t Au.

Hole 22MJ023 was drilled approximately 35 metres northwest of hole 22MJ022. The hole was collared in thin glacial sediments overlying intensely altered tuffites and metasediments. The hole intersected 8 narrow intervals that assayed above 1 g/t Au, including a deeper interval of 4.0m averaging 4.22 g/t Au starting at 89m. The highest-grade interval started at 53m and returned 1m at 26.4 g/t Au.

Table 1: Significant Drill Intercepts in Drillholes 22MJ021 - 22MJ023
Cut-off Grade 0.5 g/t Au

Drill Hole From (m) To (m) Interval (m) Au Grade (g/t) Grade Thickness (gram – metres)
22MJ021 11.0 26.5 15.5 13.09 266
including 14.4 18.0 3.6 16.45
including 20.0 26.5 6.5 19.18
including 23.0 26.5 3.5 24.35
  34.3 35.0 0.7 1.40
  36.0 37.0 1.0 0.69
  39.0 40.0 1.0 0.70
  40.0 42.0 2.0 9.07
  44.0 46.0 2.0 10.51
including 45.0 46.0 1.0 19.43
  47.0 48.0 1.0 1.27
  50.0 51.0 1.0 1.73
  60.7 62.7 2.0 0.98
  65.55 66.4 0.85 1.49
  68.0 69.9 1.9 1.88
  75.1 78.0 2.9 1.26
  80.0 82.2 2.2 2.87
  86.2 87.15 0.95 0.51
  88.15 89.0 0.85 1.11
  93.65 94.65 1.0 1.00
 
22MJ022 20.1 21.0 0.9 1.19 191
  22.8 30.0 7.2 16.43
including 24.6 30.0 5.4 21.66
including 26.2 29.2 3.0 37.9
  63.4 64.4 1.0 2.59
  67.5 68.5 1.0 0.63
  74.2 76.0 1.8 1.06
  86.0 87.7 1.7 31.61
including 86.8 87.7 0.9 55.07
  90.7 92.7 2.0 6.13
  101.5 102.5 1.0 0.53
 
22MJ023 34.3 35.2 0.9 0.60 53
  40.0 41.0 1.0 0.66
  45.0 46.0 1.0 1.03
  53.0 54.0 1.0 26.40
  57.0 58.0 1.0 5.04
  61.0 61.9 0.9 3.16
  89.0 93.0 4.0 4.22
including 90.0 92.0 2.0 6.36

Notes: Drilling is believed to be perpendicular to the dip of the mineralization, however interval true widths are not yet known and will be confirmed with additional drilling and geologic modelling. In this table, the aggregate grade-thickness of the entire drill hole is provided. For each interval exceeding the 0.5 g/t Au cut-off, the interval thickness is multiplied by its gold grade, and the sum of all those intervals is reported as total Grade – Thickness in “gram – metres” of gold.

* Intercept includes a total of 1.7m of core loss – one interval of 0.9 and another of 0.8m. Both intervals were near the top of the hole (above 14.4 metres downhole). These lost intervals were assigned a grade of 0.0 g/t Au for all calculations.

The table below summarizes the location information for the fall 2022 drill campaign at Mustajärvi.

Table 2: Collar Details for Drilling at Mustajärvi Q4 2022 (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m) Status
22MJ021 429080.6 7501029.7 60 40 103.4 Reported Here
22MJ022 429046.5 7501009.9 60 35 151.2 Reported Here
22MJ023 429028.2 7501039.4 60 40 124.9 Reported Here
22MJ024 429098.9 7500995.5 320 35 160.5 Assays Pending
22MJ025 429080.0 7501061.0 140 62 266.7 Assays Pending
22MJ026 428403.0 7500706.0 40 50 170.4 Assays Pending

 

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). Selected samples were assayed with a 1,000-gram Au-SCR24 method (screen fire assays).  Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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 - Exploration of 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:  This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 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.

 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Drill Hole From (m) To (m) Interval (m) Au Grade (g/t) Grade Thickness
(gram – metres)
22MJ021 11.0 26.5 15.5 13.09* 266
including 14.4 18.0 3.6 16.45
including 20.0 26.5 6.5 19.18
including 23.0 26.5 3.5 24.35
34.3 35.0 0.7 1.40
36.0 37.0 1.0 0.69
39.0 40.0 1.0 0.70
40.0 42.0 2.0 9.07
44.0 46.0 2.0 10.51
including 45.0 46.0 1.0 19.43
47.0 48.0 1.0 1.27
50.0 51.0 1.0 1.73
60.7 62.7 2.0 0.98
65.55 66.4 0.85 1.49
68.0 69.9 1.9 1.88
75.1 78.0 2.9 1.26
80.0 82.2 2.2 2.87
86.2 87.15 0.95 0.51
88.15 89.0 0.85 1.11
93.65 94.65 1.0 1.00

22MJ022 20.1 21.0 0.9 1.19 191
22.8 30.0 7.2 16.43
including 24.6 30.0 5.4 21.66
including 26.2 29.2 3.0 37.9
63.4 64.4 1.0 2.59
67.5 68.5 1.0 0.63
74.2 76.0 1.8 1.06
86.0 87.7 1.7 31.61
including 86.8 87.7 0.9 55.07
90.7 92.7 2.0 6.13
101.5 102.5 1.0 0.53

22MJ023 34.3 35.2 0.9 0.60 53
40.0 41.0 1.0 0.66
45.0 46.0 1.0 1.03
53.0 54.0 1.0 26.40
57.0 58.0 1.0 5.04
61.0 61.9 0.9 3.16
89.0 93.0 4.0 4.22
including 90.0 92.0 2.0 6.36
Notes: Drilling is believed to be perpendicular to the dip of the mineralization, however interval true widths are not yet known and will be confirmed with additional drilling and geologic modelling. In this table, the aggregate grade-thickness of the entire drill hole is provided. For each interval exceeding the 0.5 g/t Au cut-off, the interval thickness is multiplied by its gold grade, and the sum of all those intervals is reported as total Grade – Thickness in “gram – metres” of gold.
* Intercept includes a total of 1.7m of core loss – one interval of 0.9 and another of 0.8m. Both intervals were near the top of the hole (above 14.4 metres downhole). These lost intervals were assigned a grade of 0.0 g/t Au for all calculations.

VANCOUVER, BC – (January 10, 2023) – FireFox Gold Corp. (TSX.V: 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.

FireFox also announces the resignation of Mr. Timo Mäki as a director of the Company. The Company would like to express its heartfelt appreciation to Mr. Mäki for his contribution to the board of directors. FireFox wishes Mr. Mäki every success in his future endeavors.

Dr. Lips commented about joining the FireFox team, “It is a great pleasure to join FireFox in these exciting times. The large landholding that FireFox has secured across the Central Lapland Greenstone Belt is phenomenal. This area has always been on my radar since my initial compilations at BRGM of the mineral potential across Europe. Combined with our deep Finland expertise and locally based management team, the company holds all the key ingredients for future success.”

FireFox chairman, Patrick Highsmith, added, “We believe it is of great value to bring independent technical directors to the board of FireFox. Andor is a geologist who comes to the team with a substantial track record of success across industry, finance, and government. His experience in banking and investment funds further enhances the value of his perspective. We look forward to a tremendous 2023.

Issuance of Share Purchase Options

In association with this appointment and in keeping with its intended annual calendar, FireFox also reports that its board of directors has approved the grant of 3,900,000 incentive stock options to certain directors, officers, staff and consultants in recognition of their respective contributions to the development of the Company. This grant of options is subject to the terms and conditions of the Company’s incentive stock option plan, which has been approved by shareholders, and approval by the TSX Venture Exchange and  regulatory authorities. The options are valid for five years from the date of issuance and exercisable at a price of $0.12 per share, a 9% premium to the closing price of the stock on Friday, January 6, 2023.

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 Fireox 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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: 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, changes in government and regulations affecting the mining industry.

Forward-looking statements in this release may include statements regarding: the Company’s prospects for exploration success and its 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.

 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC – (December 14, 2022) – FireFox Gold Corp. (TSX.V: 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of 270,000 units under the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61 101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

 In association with the first tranche of this financing, subject to TSX-V acceptance, the Company will pay to qualified finders $14,801 in cash finder’s fees and will issue 185,010 finder’s warrants. The second tranche of this financing, subject to TSX-V acceptance, will result in payment of advisory fees of $6,660 and 83,250 warrants and finder’s fees of $11,040 along with 138,000 finder’s warrants. Each whole warrant issued to advisors and finders will be exercisable to acquire one common share of the Company at an exercise price of $0.12 for a term of 2 years from the date of issuance.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: 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 size and closing date of the Private Placement. 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

 

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC – (November 21, 2022) – FireFox Gold Corp. (TSX.V: FFOX; OTCQB: FFOXF)(“FireFox” or the “Company”) announces that, subject to regulatory approval, it intends to raise up to $500,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 6,250,000 units of the Company (“Units”) at a price of $0.08 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.12 per Warrant Share for a term of two years following the closing of the Offering..    

It is anticipated that the proceeds of the Private Placement will be used for general working capital and exploration activities at Mustajärvi and other Company projects in Finland. Prior to this financing, FireFox has 124.7 million shares outstanding, 14.8 million warrants outstanding, and 6.6 million stock options issued.

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. The Company anticipates that the Private Placement will close on or about November 30, 2022. The Company expects to pay finder’s fees in association with this financing.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: 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 size and closing date of the Private Placement. 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.

 

SODANKYLÄ, FINLAND – (November 18, 2022) – FireFox Gold Corp. (TSX.V: 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).

After observing apparent cross structures in the drill core from the East Target, the FireFox team designed a drill program with 5 holes to test the alternative direction and also explore for expansions of the new shallow high-grade zone. Drillholes 22MJ021, -22, and -23 were directed to the northeast instead of to the north-northwest, which has been the prevailing drill direction at Mustajärvi. Two additional holes (22MJ024 and -025) were drilled parallel to 22MJ006 to test for continuations of the high-grade zone to depth and to the southwest. The sixth hole was also aimed at testing for the cross structures, but at the Northeast Target, a few hundred metres away. All the holes in this program were of modest depth, five of the six ranged between 100 and 160m depth, and one hole was drilled to 267m. 

FireFox’s CEO, Carl Löfberg, commented about the recently completed drill program, “It is uncommon in gold exploration today to encounter such thick intervals of high-grade at less than 20 metres below surface, so we moved quickly to follow-up on our last drill results with these several shallow drill holes. It was also a great opportunity to test our observations that suggest some new controls on the mineralization in the East Target. Success in these recent drillholes would result in a considerable expansion of the newest high-grade zone. We look forward to reporting the results from this drill program in a few weeks.”

Geologic Details of the East Target

Drillhole 22MJ006 was the sixth drillhole along approximately 1.5km of strike of the Mustajärvi Shear Zone that penetrated more than 90 gram-metres of gold, expressed as grade – thickness (thickness of significant interval in metres multiplied by the weighted average gold content in grams per tonne). Most of these intervals have been reported from drill holes directed to the north-northwest, perpendicular to the Mustajärvi Shear Zone, because that has been shown to be an important controlling direction for the gold mineralization. In several instances, FireFox geologists have noted crossing structures that also appear to host significant alteration, veining, and gold. The most recent intercepts from the East Target indicate that the cross structures may be very important in this area and could expand the thickness of the mineralization.

The host rocks at the East Target also seem to include more sedimentary rocks (laminated siliciclastic rocks) and mafic volcanics or intrusions than have characterized either the Central Zone or the Northeast Target. These important observations about changes to the mineral system as it trends to the northeast were strong drivers for the latest follow-up drilling. 

ff news 17nov 1 min

Figure 1 - Mustajärvi Location Map with Oct 2022 Drilling

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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: 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 current and future drill program, including the extent and nature of exploration to be conducted in 2022 and 2023 and the anticipated results of the drill program. 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.

 

VANCOUVER, BC – (November 16, 2022) – FireFox Gold Corp. (“FireFox” or the “Company”) announces, effective November 15, 2022 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the “Private Placement”) announced on September 21, 2022.

FireFox has raised gross proceeds of $506,000 by issuing 5,060,000 units of the Company at a purchase price of $0.10 per unit. Each unit consists of one common share of the Company and one-half common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.18 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

FireFox paid to qualified finders $1,800 in cash finders fees and issued 18,000 finders warrants exercisable at $0.18 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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 expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

 

 

VANCOUVER, BC – (October 7th, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF) (“FireFox” or the “Company”)announces, effective October 6, 2022 that, subject to regulatory acceptance, it has completed the first tranche of the non-brokered private placement (the “Private Placement”) announced on September 21, 2022. The Company expects additional subscribers to join the financing, so it has elected to keep the Private Placement open for a second tranche. FireFox expects to complete the second tranche on or about October 21, 2022.

In this first tranche, the Company has raised total gross proceeds of $486,000 by issuing 4,860,000 units of the Company at a purchase price of $0.10 per unit. Each unit consists of one common share of the Company and one-half common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.18 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.

The Company intends to use the proceeds of the Private Placement general working capital, drilling on the Mustajärvi project, and exploration activities on other gold exploration properties in Finland.

Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of 250,000 units under the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61 101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

FireFox will pay to qualified finders $1,800 in cash finder’s fees and will issue 18,000 finders warrants exercisable at $0.18 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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 expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

 

 

VANCOUVER, BC – (Sept 21, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) announces that it intends to raise up to $1,000,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 10,000,000 units of the Company (“Units”) at a price of $0.10 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one-half common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.18 per Warrant Share for a term of two years following the closing of the Offering.

It is anticipated that the proceeds of the Private Placement will be used for general working capital, drilling on FireFox’s Mustajärvi project, and other exploration activities on the Company’s other gold exploration properties in Finland. Prior to this financing, FireFox has 119.5 million shares outstanding, 18.2 million warrants outstanding, and 7.6 million stock options issued.

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. The Company anticipates that the Private Placement will close on or about September 30, 2022. The Company expects to pay finder’s fees in association with this financing.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

 

Sample ID
From (m)
To (m)
Au FA/AA
(g/t)
Au FA/Grav (”Overlimits”)
(g/t)

Au Screen FA**
(g/t)

 

 

#1
#2
#3

D110166
24.15
25.05
>10.0
16.85
17.35
17.15
17.40
D110167
25.05
26.00
>10.0
16.75
17.00
16.35
15.85
D110168*
25.05
26.00
>10.0
18.70
18.20
18.20
439
D110171
26.00
27.00
>10.0
18.85
19.05
19.20
18.40
D110172
27.00
28.00
>10.0
15.85
15.85
15.65
16.00
D110173
28.00
28.80
>10.0
18.65
18.00
18.70
17.90
D110174
28.80
29.80
>10.0
59.10
59.80
60.20
63.0
D110175
29.80
30.30
1.205

 

 

D110176
30.30
31.30
2.90

 

 

D110177
31.30
32.30
6.27

 

 

D110178
32.30
33.20
6.41

 

 

D110179
33.20
34.20
>10.0
14.20
14.65
14.30
11.05
D110180
34.20
35.00
5.86

 

 

D110181
35.00
36.00
9.43

 

 

D110182
36.00
37.00
8.55

 

 

D110183
37.00
38.00
5.34

 

 

* - Sample is a field duplicate of D110167, each sample is half drill core representing 25.05 – 26.00 metres
** - Full screen fire assay procedure details are provided below, this value is total gold calculated from assays of the coarse and fine fractions.

SODANKYLÄ, FINLAND – (September 6, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) reports additional analyses from the recent drill program at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. FireFox previously reported its best drill intercept yet from Mustajärvi, a 13.85-metre interval of drill hole 22MJ006 that averaged 14.39 g/t gold beginning only 24.2m down hole (see Company news release dated July 13, 2022). A subsequent program of screen fire assays of the highly mineralized interval confirmed that the mineralization is remarkably consistent, but the tests also identified coarse gold in one of the samples (Table 1).

HIGHLIGHTS FROM SCREEN FIRE ASSAYS OF 13.85 METRE HIGH-GRADE INTERVAL IN 22MJ006

  • One sample from 25.05 to 26.00 metres depth returned a total gold grade of 439 g/t
    • This sample contained 423 milligrams of coarse gold
  • This bonanza grade sample was part of a field duplicate pair:
    • The duplicate twin contained total gold of 15.85 g/t
  • If all the screen fire results were incorporated into the broader high-grade interval, it would average 28.74 g/t over 13.85 metres
  • Most of the interval exhibited excellent consistency between original fire assay and screen fire assays
  • FireFox is working with its consultants and service providers to better understand and characterize the coarse gold at Mustajärvi

“The high-grade gold at Mustajärvi comes with its own special challenges, but the team has done an excellent job implementing a rigorous quality assurance protocol. These screen fire assay results remind us that this system contains significant coarse gold, and any noteworthy drill intercept may contain more gold than we first estimate,” commented Carl Löfberg, CEO of FireFox Gold. “The gold system in the East Target comes right to surface and we see evidence for more than one direction of structural control. We look forward to bringing the drill back to follow-up, as these shallow intercepts are open in several directions.”

The Company’s consulting geochemist and quality control expert, Mary Doherty1, remarked in her evaluation of the new drilling data from Mustajärvi, “The Firefox sampling, preparation and analytical procedures are very thorough and carefully thought out. The one interval with extremely high gold suggests the presence of coarse gold which is not unexpected and is well characterized. Precision for the other gold assays in the drill hole examined is very good at 7% precision and < 4% bias between sample groups.”

FireFox maintains an ongoing quality assurance program that includes screen fire gold assays on the high-grade intervals encountered at Mustajärvi. In this case, the team selected 8 samples from the 13.85-metre interval for screen fire gold assay. These samples all contained more than 10 g/t gold, as reported from an initial 50-gram fire assay and confirmed by triplicate 50-gram gravimetric “overlimit” fire assays.

As an additional component of its quality assurance program, FireFox designates approximately 3% of drilling samples as field duplicates. One of the field duplicates fell within this highly mineralized interval. In this instance, the other half of the sawed core is submitted blindly to the lab as a check of the total variability of gold, including that caused by the geological sample medium plus sample preparation and analysis. This resulted in the entire drill core being processed for the 0.95-metre interval in question. Hence, the discovery that this interval contained a coarse gold fragment (a “nugget”).

Native gold tends to be malleable, which means it may not be ground or reduced in size when subjected to pulverizing in a standard lab preparation procedure. The screen fire assay procedure (see details below) evaluates this component of unpulverized material for gold by passing the entire 1,000-gram sample through a 106-micron (Tyler 150 mesh) screen. Gold and other material that has not been sufficiently pulverized will be retained on the screen, then this entire “plus fraction” is fire assayed, reporting the contained gold in milligrams.

During the screen fire process, the assayers determined that there were 423 milligrams of coarse gold in the sample, a significant part of the 23.2 grams of material collected in the plus fraction. Interestingly, the fine fraction of material, which did pass through the screen, assayed consistently around 16 g/t gold. The weighted average of the gold in the fine fraction plus the gold in the coarse fraction results in a calculated total gold value of the sample of 439 g/t.

Table 1: Complete Listing of Gold Assays in High-Grade Interval from Drill Hole 22MJ006 

Sample ID From (m) To (m) Au FA/AA
(g/t)
Au FA/Grav ("Overlimits:)
(g/t)
Au Screen FA**
(g/t)
        #1 #2 #3  
D110166 24.15 25.05 >10.0 16.85 17.35 17.15 17.40
D110167 25.05 26.00 >10.0 16.75 17.0 16.35 15.85
D110168* 25.05 26.00 >10.0 18.70 18.20 18.20 439
D110171 26.00 37.00 >10.0 18.85 19.05 19.20 18.40
D110172 27.00 28.00 >10.0 15.85 15.85 15.65 16.00
D110173 28.00 28.80 >10.0 18.65 18.00 18.70 17.90
D110174 28.80 29.80 >10.0 59.10 59.80 60.20 63.0
 D110175  29.80 30.30 1.205        
D110176 30.30 31.30 2.90        
D110177 31.30 32.30 6.27        
D110178 32.30 33.20 6.41        
D110179 33.20 34.20 >10.0 14.20 14.65 14.30 11.05
D110180 34.20 35.00 5.86        
D110181 35.00 36.00 9.43        
D110182 36.00 37.00 8.55        
D110183 37.00 38.00 5.34        
* - Sample is a field duplicate of D110167, each sample is half drill core representing 25.05 – 26.00 metres
** - Full screen fire assay procedure details are provided below, this value is total gold calculated from assays of the coarse and fine fractions.

Significance of Coarse Gold at Mustajärvi

Coarse gold is something for which explorers must plan when drilling an orogenic gold system. However, visual logging will never identify all coarse gold in drill core or rock samples. Despite abundant high-grade gold assays, FireFox geologists believe they have recognized visible (coarse) gold in only three drill holes so far on the Mustajärvi Project, most notably in the first hole of the 2021 drill program (see Company news releases dated April 15, 2021 & June 17, 2021). Two of the three drill holes with likely visible gold were in the Northeast Target, and one hole in the East Target may have contained very small grains of visible gold (22MJ018). There was no such report in the log from 22MJ006. As noted, FireFox has rigorous procedures in place to help assure quality samples and the application of appropriate sample preparation and analytical procedures. The consistency and precision of the gold assays in this interval within 22MJ006 confirm that most of the gold in the East Target is fine-grained or in a mineral phase that is relatively homogeneous in the host rock.

Coarse gold occurs in isolated particles, blebs, wires, or inclusions that cannot be quantitatively estimated. The random element of coarse gold dictates that more is present in a mineral system than will ever be identified during drilling. Therefore, once it has been identified on a project, it is incumbent on the technical team to study and characterize the occurrences. This information may be used in the future to build a statistical model to support resource calculations. Based on that kind of work, a qualified person may elect to cap extremely high-grade assays in a resource model. The knowledge that coarse gold exists in a deposit implies that any significant gold intercept is subject to some uncertainty as to the actual contained gold grade.

FireFox’s quality control consultant has recommended that the Company maintain its current sampling procedures, laboratory method selection, and quality assurance protocol. As an extra measure of caution, she also recommended that the Company implement additional cleaning sand during sample preparation between samples within zones identified as likely to be high-grade. The wash sand can be assayed for gold to assess possible carryover between samples.

The Company also plans to work with its consultant and certain expert service providers to initiate another study to rigorously characterize the coarse gold in the high-grade zones at Mustajärvi. The exact nature of the follow-up study will remain confidential as it may constitute a competitive advantage for the Company in its ongoing work. Findings from the study will be evaluated and released, likely in 2023.

Geology and Geochemistry of the High-Grade Drill Intercept

Most of the gold mineralization at Mustajärvi occurs in volcaniclastic or tuffaceous rocks (Sodankylä Group) that occupy the northern footwall of a sheared contact with mafic volcanic and ultramafic rocks of the Savukoski Group to the south. A corridor along the northeast-striking shear zone has been shown by FireFox drilling to be albite-altered with variable silica and sericite for more than 2.0 kilometres. Gold occurs in at least three significant pods or clusters associated with quartz-carbonate-tourmaline-pyrite (QCTP) veins of variable width or with more intense alteration and disseminated pyrite (including semi-massive to massive pyrite). The three zones of drill-indicated gold (so far) are called the Central Zone, the Northeast Target, and the East Target. The most recent drill results have come from the East Target (Figure 1).

FF NR 2022 1

Figure 1 – Mustajärvi East Target Drilling On Magnetics Base Map

In this part of the East Target, FireFox geologists have logged the host unit as tuffites of intermediate composition. The sequence in drill hole 22MJ006 is pervasively altered by albite with variable but intense silica and sericite. There is increased pyrite from approximately 24.5 metres through approximately 36 metres downhole (Figures 2 and 3). The strongest gold values in the mineralized interval are associated with bands or clots of semi-massive to massive pyrite, which is sometimes oxidized in the shallow portions of these holes. The zone is also cut by modest QCTP veins with molybdenite. Structures are frequently in evidence, based on intense fracturing, open space, and intense oxidation.

Gold mineralization has been drilled at Mustajärvi along more than 2.0 kilometres of the Mustajärvi Shear Zone (MSZ). The mineralization has been consistent in its primary geochemical association: bismuth, tellurium, molybdenum, cobalt, nickel, and selenium. There is also low-level silver, copper, lead, zinc, arsenic, antimony, and rhenium. The altered shear zone is typically depleted in arsenic, copper, and zinc with only local minor enrichment in these elements with high gold. The 13.85 metre high-grade gold interval in 22MJ006 contains some of the highest molybdenum (757 ppm) and tellurium (274 ppm) geochemistry yet drilled at Mustajärvi.

One element of the geochemistry may be related to the consistency generally seen in the gold-mineralized intervals from Mustajärvi. Gold is closely associated with tellurium in all the drilling to date on the project. FireFox has seen gold within complex telluride minerals under microscope examination, both as free mineral grains and within pyrite. Gold has also been observed within the mineral molybdenite. Telluride minerals are known to behave in a much more brittle fashion than native gold and electrum, meaning that gold telluride minerals are more likely to be effectively reduced in size during pulverization. This behaviour could account for high-grade gold samples with good repeatability. The rare coarse native gold and electrum would account for the coarse particles captured by the screen fire assay procedure.

FF NR 2022 2

Figure 2 – Photo of drill core (sawed) from hole 22MJ006 – 24m to 30m down hole. (Click HERE for full sized image)

FF NR 2022 3

Figure 3 – Photo of drill core (whole) from hole 22MJ006 – 27m – 34m down hole. (Click HERE for full sized image)

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). Samples assaying above 10 g/t gold are automatically re-assayed by a 50 gm fire assay with gravimetric finish (method Au-GRA22). At FireFox’s request, these overlimit assays were completed in triplicate in order to evaluate the homogeneity of the gold in the prepared samples. Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

In this case, FireFox geologists requested that the samples exceeding 10 g/t gold be re-analysed by a 1,000-gm screen fire assay (Au-SCR24) on a new pulp collected from coarse reject. The following is the laboratory procedure as provided publicly by ALS Geochemistry:

The sample pulp is passed through a 106 µm (Tyler 150 mesh) stainless steel screen. Any material remaining on the screen (+) 106 µm is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen [(-) 106 µm fraction] is homogenized and two sub-samples (50g) are analyzed by fire assay with AAS finish (Au AA26 and Au AA26D). The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions.

The gold values for both the (+) 106 and (-) 106-micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.

Calculations:

Au-avg(ppm) = (Au-(1) + Au-(2)) / 2

AuTotal(ppm) = ((Au-avg(ppm) * Wt.Minus(g)) + (Au+(ppm) * Wt.Plus(g))) / (Wt.Minus(g) + Wt.Plus(g))

It should be noted that FireFox audited the local ALS sample preparation lab during 2021 and found it to be operating to a high standard. Additional follow-up interactions with the lab after receipt of these results also identified no problems with lab procedures. The consistency of the gold between the original assays and the screen fire assays, in most cases, is a good indication that the sample preparation is likely not introducing contamination. This is because screen fire assays are prepared from the original crushed reject material, which means that rock was not passed through the grinding mills in the first place. The pulverization process is almost always the source of carryover contamination.

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 into the analytical batches, none of which showed significant deviations from recommended values in the reported data.

1– Mary Doherty is an exploration geochemist and certified professional geologist with more than 35 years’ experience in mining and mineral exploration. She has recently held positions as Exploration Technologies Group Executive and Chief Geochemist for Newmont Goldcorp Mining Corp. and North American Business Development Manager for ALS Minerals. Ms. Doherty is currently an adjunct professor of exploration geochemistry at the Colorado School of Mines and principal of International Geochemical Consultants LLC. She is engaged by FireFox as a consultant but is otherwise independent of the Company.

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 approved 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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.

 

Sample ID
From (m)
To (m)
Au FA/AA
(g/t)
Au FA/Grav (”Overlimits”)
(g/t)

Au Screen FA**
(g/t)

 

 

#1
#2
#3

D110166
24.15
25.05
>10.0
16.85
17.35
17.15
17.40
D110167
25.05
26.00
>10.0
16.75
17.00
16.35
15.85
D110168*
25.05
26.00
>10.0
18.70
18.20
18.20
439
D110171
26.00
27.00
>10.0
18.85
19.05
19.20
18.40
D110172
27.00
28.00
>10.0
15.85
15.85
15.65
16.00
D110173
28.00
28.80
>10.0
18.65
18.00
18.70
17.90
D110174
28.80
29.80
>10.0
59.10
59.80
60.20
63.0
D110175
29.80
30.30
1.205

 

 

D110176
30.30
31.30
2.90

 

 

D110177
31.30
32.30
6.27

 

 

D110178
32.30
33.20
6.41

 

 

D110179
33.20
34.20
>10.0
14.20
14.65
14.30
11.05
D110180
34.20
35.00
5.86

 

 

D110181
35.00
36.00
9.43

 

 

D110182
36.00
37.00
8.55

 

 

D110183
37.00
38.00
5.34

 

 

* - Sample is a field duplicate of D110167, each sample is half drill core representing 25.05 – 26.00 metres
** - Full screen fire assay procedure details are provided below, this value is total gold calculated from assays of the coarse and fine fractions.

SODANKYLÄ, FINLAND – (August 25, 2022) – FireFox Gold Corp. (TSX.V: 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 g/t 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.

The strongest intercepts from both new holes are highlighted below, and additional details are provided in Table 1:

  • 22MJ017: 1.0m at 9.42g/t Au from 70.7m depth;
  • 22MJ018: 11.6m at 5.06 g/t Au from 10.3m depth, including
    • 4.2m at 10.60 g/t Au from 17.7m depth;
  • 22MJ018: 4.6m at 7.91 g/t Au from 77.2m depth, including
    • 1.7m at 11.19 g/t Au from 77.20m depth.

“These results cap off a very successful program at Mustajärvi that has seen us drill many new gold intervals including three new +100 gram-metre holes,” commented Carl Löfberg, President of FireFox Gold. “While our structural model holds up well in the East Target, the team has also noted some potentially important changes in host rock and alteration. The strike length of the system is impressive and each round of drilling yields high-grade gold intercepts. We are hard at work on the evolving interpretation of the results and planning for more drilling in the last quarter of the year."

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometres of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 11,644 metres to date. 

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold with significant mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the Eastern Target. The recently completed drill program at Mustajärvi included 23 diamond drill holes for a total of 4,624 metres between October and May, which included drilling at the Northeast Target and the recently reported drill tests at the Central Zone and Gabbro Target, but much of the focus was on the newly discovered East Target. 

The final two drill holes of the campaign were collared in the East Target (see Figure 1) and returned significant gold intervals as shown in Table 1 and described below.

Table 1: Summary of Significant Drill Intercepts Cut-off Grade 0.5 g/t Au

Drill Hole
From (m)
To (m)
Interval* (m)
Gold (g/t)
Grade - Thickness (gram - metres)
22MJ018
10.3
21.9
11.6
5.06**
58.7
including
17.7
21.9
4.2
10.6
 
including
1.3
21.3**
 
and including
19
20
1.0
7.39
 
and including
20.9
21.9
1.0
8.42
 
 
30.7
34
3.3
2.97
9.8
including
31.5
32.3
0.8
4.91
 
and including
33.2
34
0.8
8.57
 
 
46.6
47.6
1.0
6.10
6.1
 
62.7
63.7
1.0
0.89
0.90
 
77.2
81.8
4.6
7.91
36.3
including
77.2
78.9
1.7
11.19**
 
22MJ017
70.7
71.7
1.0
9.42**
9.42
* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modelling.
** Selected intervals were subjected to a 1,000gm screen fire assay designed to capture coarse gold

The East Target mineralization exhibits extensive albite – sericite alteration, as is typical along the MSZ, but iron oxide and iron carbonate veining is more common in this eastern part of Mustajärvi. Similar to previously reported holes from the East Target, the gold mineralization is associated with fractures and impregnation of partially oxidized pyrite along fractures, forming blebs, nests, disseminated and semi-massive mineralization within the host rock. The deeper mineralized intervals include the more typical quartz-carbonate-tourmaline-pyrite (QCTP) vein style of mineralization commonly seen at Mustajärvi.

Drill hole 22MJ018 was a twin hole designed to test for depth continuation of gold mineralization identified in drill hole 22MJ011, which was drilled to only 33 metres using a light hybrid drill rig. That hole intersected three significant gold intervals and ended in a 2-metre interval of semi-massive pyrite mineralization that assayed 5.11 g/t Au and was strongly enriched in silver (Ag), bismuth (Bi), tellurium (Te), selenium (Se), cobalt (Co), nickel (Ni), and tungsten (W) (see Company news Release dated July 13, 2022).

Picture1

Figure 1. Mustajärvi Project drilling locations with target zones over detailed ground magnetics (08/2022)

Drill hole 22MJ018 was collared in thin glacial sediments overlying intensely altered intermediate tuffites and intersected gold mineralization immediately beneath the glacial cover starting at 10.3 m down-hole. Like its predecessor 22MJ011, this hole returned several gold intervals in the top 35 metres, including 11.6 m averaging 5.06 g/t Au. The highest-grade intercept was 1.3 m at 21.3 g/t Au from 17.7 m depth. In addition, the hole successfully confirmed that gold mineralization continues past the depth of the previous hole by at least 46 metres. In fact, the upper 80 metres of the drill hole included a total of 16 assay intervals exceeding 1.0 g/t gold.  

The near-surface high-grade gold mineralization is associated with strong enrichment of Co, Ni and Te. The hole intersected semi-massive and massive pyrite intervals that returned 8.1m averaging 0.17% Co from 13.8m depth and 2.3m averaging 0.37% Co from 17.7m depth, including 1.3m averaging 0.46% Co from 17.7m depth.

At approximately 85 metres depth, this drill hole encountered a zone of intensely altered ultramafic volcanic rocks. The ultramafic rocks were only weakly anomalous in gold, but a 4.6 metre interval just above the ultramafics averaged 7.91 g/t gold. This association of disseminated pyrite and fuchsite (a green mica containing elevated chromium) in ultramafic rocks with nearby gold is noted at a number of other gold occurrences in Lapland, as well as other greenstone belts around the world. FireFox geologists have now noted the altered ultramafic rocks in several of the holes in the East Target.   

Drill hole 22MJ017 was collared 70 metres to the southeast from drill hole 22MJ018, also in thin glacial sediments (approximately 8.8 metres thick) and passed quickly into unaltered ultramafic volcanic rock. It was designed to test an interpreted magnetic low and possible splay in the MSZ. Drilling passed back into the intermediate tuffites, which are commonly albite-sericite altered and variably veined. One of the QCTP veins at approximately 70.7 metres downhole contained 9.42 g/t gold over 1.0 metre.

Deeper in the hole, faulting appears to increase, and the rock is commonly mylonitized. Thin units of mafic to ultramafic volcanics dominate the lithology below 125 metres depth, often cut by veins of various composition. There are multiple intervals of silica carbonate alteration with variable fuchsite, disseminated pyrite, and (rare) chalcopyrite. Once again, the abundant mylonite cutting chrome-altered mafic and ultramafic rocks appear to underly the gold mineralization in the East Target.

Table 2: Mustajärvi 2022 Collar Information (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m)
22MJ017 429154 7501012 320 45 169.6
22MJ018 429088 7501029 140 80 125.3

 

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). Selected samples were assayed with a 1,000 gram Au-SCR24 method (screen fire assays). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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.

 

SODANKYLÄ, FINLAND – (August 17, 2022) – FireFox Gold Corp. (TSX.V: 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 g/t 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 g/t 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.

“We believe that this high-grade interval in drill hole 22MJ015 may represent the continuation of a similar vein that we intersected previously”, commented Carl Löfberg, President of FireFox Gold. “If that is the case, then this vein would have a strike length of about 88 metres and remain open along strike to the NE as well as down-dip. This style of mineralization at the contact with the hangingwall ultramafic rocks is less common at Mustajärvi and its geometry is poorly understood at depth. The alteration and low-grade gold in the Gabbro Target also confirms that the Mustajärvi mineral system spans well over 2.0km. While we await results from two more holes in the East Target, it is clear that Mustajärvi holds a lot more potential.”

Table 1, below, summarizes significant intercepts from the recent drill results.

The recently completed drill program at Mustajärvi included 23 diamond drill holes for a total of 4,624 metres between October and May, testing the Eastern Target, the Gabbro Target and the Central Zone (see Figure 1). The results reported herein are from the Central Zone and Gabbro Target, and results are pending from two holes at the Eastern Target.

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometres of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 11,644 metres to date. 

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold with significant mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the Eastern Target.

Central Zone

Drill hole 22MJ015 was collared in the eastern part of the Mustajärvi Central Zone in thin glacial sediments (about 3.5 metres deep), overlying ultramafic volcanic rocks. The hole intersected a mineralized contact between ultramafic volcanic rocks and intermediate tuffites that yielded 1.0m at 46.93 g/t Au from 33.5m down-hole. Gold is associated with semi-massive pyrite mineralization at the contact zone between intensively altered ultramafic rock, with fuchsite, and intensively albitized intermediate tuffites. In addition, the contact zone mineralization is significantly enriched in silver, cobalt, nickel, and tellurium.

Drill hole 22MJ015 extends the Central Zone mineralization about 40 metres towards the northeast from previous FireFox hole 18MJ014. That hole encountered 0.35m averaging 12.26 g/t (See Company news release dated March 1, 2019). Outokumpu Oy also drilled gold at the same contact zone, cutting approximately 1.2m averaging 5.45 g/t gold (See FireFox NI 43-101 Technical Report on www.firefoxgold.com or SEDAR).

Drill hole 22MJ016 was collared in the western part of the Central Zone, approximately 250 metres to the southwest of drill hole 22MJ015. It was also collared in thin glacial sediments (approximately 5.8 metres deep), overlying ultramafic volcanic rocks. The hole intersected several strongly albitized intervals of alteration with a relatively small amount of pyrite mineralization. The best intercept returned an interval of 4.1 g/t gold over 1.15m starting from 94.35m down-hole. The gold in this interval is hosted in quartz-carbonate-tourmaline-pyrite (QCTP) veins related to intensively sericitized, brecciated tuffites with strong pyrite mineralization.

Gabbro Target

Drill holes 22MJ004, 22MJ008, 22MJ009, and 22MJ014 were designed to test various anomalies within the magnetic high on the western end of the permit, which has been shown to be a large mafic intrusive (gabbro). The gabbro is divided by a NE-SW trending structure, corresponding to a strong magnetic low. All these holes intersected contacts between the gabbro unit and altered intermediate tuffites of the Sodankylä group. Only hole 22MJ004 returned notably elevated gold with an interval of 0.95m averaging 0.546 g/t gold starting from 20.8m down-hole. Here, gold mineralization is related to disseminated pyrite hosted at the contact of altered mafic volcanic rocks in the hangingwall (Savukoski group) with metasediments in the footwall (Sodankylä group). No significant gold intercepts were reported from drill holes 22MJ009, 22MJ008 and 22MJ014.

Drill hole 22MJ009 intercepted several individual narrow sections of epidote-altered gabbro with narrow parallel dark quartz veins, resembling a sheeted vein structure, at 53.5m, 61.0m, 74.5m, and 93.0m down-hole. Geologists noted local weak pyrite in the wall-rock to the veins.

Drill hole 22MJ013 was collared about 160m north of hole 22MJ009 and targeted the interpreted northern contact of the gabbro. This apparent contact is marked by a strong magnetic low, which may be linked to another through-going structure. The hole returned 1.0m averaging 0.823 g/t gold starting from 44m down-hole. This mineralization is related to narrow QCTP veins, as commonly seen at Mustajärvi.

Table 1: Summary of Significant Drill Intercepts
Cut-off Grade 0.5 g/t Au

Drill Hole From (m) To (m) Interval* (m) Au Grade (g/t)
Central Zone
22MJ015 33.5 34.5 1.0 46.93**
  129.9 130.9 1.0 2.54
22MJ016 94.35 95.5 1.15 4.1
Gabbro Target
22MJ013 44.0 45.0 1.0 0.823
22MJ004 20.8 21.75 0.95 0.546
* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modelling. ** Selected intervals will be subjected to a 1,000gm screen fire assay protocol designed to capture coarse gold

Picture1

Figure 1. Mustajärvi Project diamond drilling locations and results status to date on magnetics base map (08/2022).

 

Table 2: Mustajärvi 2022 Collar Information (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m)
22MJ004 427396 7499721 335 45 304.5
22MJ008 427200 7499676 340 45 229.3
22MJ009 427327 7499893 340 45 200.3
22MJ013 427275 7500032 340 45 170.4
22MJ014 427434 7499631 340 45 209.2
22MJ015 427890 7500264 340 45 163.8
22MJ016 427680 7500130 340 45 230.5

 

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). Selected samples were assayed with a 1,000 gram Au-SCR24 method (screen fire assays). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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 and analytical results of these materials  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 of 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

 

SODANKYLÄ, FINLAND – (August 9, 2022) – 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.

Picture1

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.

August 9 Figure 2

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

 

SODANKYLÄ, FINLAND – (July 13, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is excited to report additional results from its 2022 core drilling program at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. Four holes returned significant near-surface, high-grade gold mineralization, highlighted by hole 22MJ006 in the East Target that returned a 13.85-metre interval averaging 14.39 g/t gold. Expressed in terms of grade-thickness, this interval measures 199 gram-meters of gold, the strongest mineralized interval yet drilled at Mustajärvi (see Table 1 and Figure 1).

The details of several key drill intercepts are highlighted below:

  • 22MJ006: 13.85m at 14.39 g/t Au from 24.2m depth, including
    • 5.65m at 25.02 g/t Au; including
    • 1.0m at 59.70 g/t Au
  • 22MJ006: 2.0m at 4.30 g/t Au from 11.0m depth
  • 22MJ005: 2.1m at 8.26 g/t Au from 33.6m depth, including
    • 1.15m at 12.53 g/t Au
  • 22MJ005: 0.8m at 65.28 g/t Au from 57.0m depth
  • 22MJ011: 8.1m at 3.03 g/t Au from7.9m depth
  • 22MJ011: 2.0m at 5.11 g/t Au from 31.0m depth

FireFox also reports results from seven additional drill holes in the first drill program at the Sarvi Project. There were no significant gold intercepts encountered in those holes, but work is ongoing to interpret those data and develop targets for the next round of drilling on the large property that adjoins Rupert Resources’ Area 1 discovery.

“These results continue to highlight the high-grade gold potential at Mustajärvi,” commented Carl Löfberg, President of FireFox Gold. “Gold mineralization intersected at the East Target starts immediately below shallow overburden and is characterized by multiple high-grade gold intervals that remain open at depth and along strike. We are still awaiting results from two more holes in the area, as well as new tests of the Gabbro Target and Central Zone."

So far this year, 19 diamond drill holes, totalling 2,930 metres have been completed at Mustajärvi testing the East Target, the Gabbro Target and the Central Zone. The results reported herein are from the East Target and results are pending from seven additional holes, including those testing the Gabbro Target, the Central Zone extensions and the last two drill holes from the East Target.

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometres of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled approximately 11,644 metres to date. 

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target. Four holes had previously been drilled into the East Target, with all four intersecting gold (see FireFox news releases dated August 17, 2021, January 25, 2022 and April 5, 2022). The Company drilled ten holes into the East Target during the recent program concluded in May (See Figure 1). Complete assays on these six holes were received by the Company on July 10, 2022, and assays are still pending from two holes in the area. Four of the recent holes returned significant gold intervals, as shown in Table 1, and summarized below.

Drill holes 22MJ005, 22MJ006, and 22MJ011 were designed to follow up on results reported from 21MJ015 in January 2022, including 2.45m at 7.97 g/t Au, 1.0m at 11.04 g/t Au, and 1.0m at 7.62 g/t Au – all of which were at less than 50m depth below surface.

Drill hole 22MJ005 was collared in thin glacial sediments overlying intensely altered intermediate volcanic tuffites. It intersected multiple near-surface gold mineralized intervals. The gold is associated with fractures and impregnation of partially oxidized pyrite along these fractures, forming blebs, nests, semi-massive and disseminated mineralization within the host rock. The interval also includes the more typical quartz-carbonate-tourmaline-pyrite (QCTP) vein style of mineralization commonly seen at Mustajärvi.

This hole also passed through a zone of altered ultramafic volcanic rocks with fuchsite and pyrite. This interval was not mineralized with gold, but the presence of highly altered ultramafic rocks is encouraging based on other gold occurrences in Lapland.

22MJ005 intersected seven intervals of gold mineralization ranging from 0.8 to 3m in length within the upper 65 metres of the 189-metre-long hole. The shallowest interval started at just 10m down-hole.

Drill hole 22MJ006 extended the near-surface mineralized zone to the north. Mineralization was similar to that observed in hole 22MJ005, comprised of abundant partially oxidized pyrite in blebs, nests, semi-massive, massive and disseminated forms with fewer QCTP veins. The host rocks are highly fractured tuffites of intermediate composition that are pervasively and intensely altered by albite. Three intervals of significant gold mineralization were returned from the upper 45m of the 71-metre-deep hole. The shallowest interval started at 11m down-hole, immediately beneath a thin veneer of glacial sediments.   

The high-grade gold mineralization is associated with strong bismuth (Bi), tellurium (Te), and molybdenum (Mo). There are visible blebs and stringers of molybdenite in the interval with concentrations up to 200 ppm Mo. In addition, the pyrite mineralization in this area is enriched in nickel (Ni) and cobalt (Co). Hole 22MJ006 had two intervals of cobalt mineralization within the high-grade gold zone: 1.85m averaging 0.16% Co from 24.15m and 0.36% Co over 3.8m from 26m depth, including 1.0m at 0.50% Co.

Drill hole 22MJ007 is the easternmost hole in the new East Target, located about 100m NE from drill hole 22MJ005. Drilling started in shallow glacial sediments (approximately 7m) and passed into intermediate tuffites. The alteration and chemistry of the narrow intercepts in this hole are similar to the other East Target gold zones, but most of the gold is deeper than the holes to the west. Nevertheless, these intercepts extend the strike of high-grade gold (>5 g/t) to more than 2.1 km along the MSZ.

Drill hole 22MJ011 was collared in shallow glacial cover (approximately 7m) over intermediate tuffs. The hole intersected three near surface intervals of gold mineralization similar in character to the other holes in the East Target. The drill hole was terminated at 33m within semi-massive pyrite mineralization that assayed 8.08 g/t Au and was strongly enriched in silver, bismuth, tellurium, selenium, cobalt, nickel, and tungsten.

Hole 22MJ011 was one of several holes in this campaign drilled with a light hybrid drill rig, which is used primarily for base-of-till drilling but is capable of reaching a maximum depth of 33m when drilling core to support bedrock mapping. Drill holes 22MJ012 and 22MJ020 were also drilled with the hybrid rig. Hole 22MJ011 was successful at intersecting potentially significant gold, and therefore, was subsequently twinned and deepened using a larger diamond drill rig in hole 22MJ018, for which results are pending.

Table 1: Summary of Significant Drill Intercepts
Cut-off Grade 0.5 g/t Au

Drill Hole From (m) To (m) Interval* (m) Au Grade (g/t) G-T (g-m)
22MJ006 11.0 13.0 2.0 4.30 8.6
including 11.0 12.0 1.0 7.01  
  24.15 38.0 13.85** 14.39 199.3
including 24.15 29.8 5.65** 25.02  
including 28.8 29.8 1.0** 59.70  
  42.0 45.0 3.0 1.30 3.90
22MJ005 10.0 13.0 3.0 2.34 7.0
including 12.3 13.0 0.7 5.23  
  18.8 21.7 2.9 1.56 4.5
  29.6 31.6 2.0 1.79 3.6
  33.6 35.7 2.1 8.26 17.4
including 33.6 34.75 1.15** 12.53  
  43.0 44.0 1.0 2.04 2.0
  57.0 57.8 0.8** 65.28 52.2
  61.9 65.0 3.1 0.90 2.8
22MJ011 7.9 16.0 8.1 3.03 24.5
  27.7 29.2 1.5 2.59 3.9
  31.0 33.0 2.0 5.11 10.2
including 32.5 33.0 0.5 8.08  
22MJ007 86.2 87.0 0.8 2.02 1.6
  91.0 92.0 1.0** 9.54 9.5
* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modelling. ** Selected intervals will be subjected to a 1,000gm screen fire assay protocol designed to capture coarse gold

 Picture1

Figure 1. Mustajärvi Project diamond drilling locations with magnetics and assay status as of July 12, 2022.

 

The rocks from deeper in these East Target drill holes are strongly sheared and locally brecciated, exhibiting abundant intense sericitization. Disseminated pyrite in the altered host rocks is also more common in this newly drilled mineralization, particularly in the deeper intercepts.

The FireFox team has noted several key differences between the mineralization in the East Target and the high-grade gold reported in 2021 from the Northeast Target, including:

  • Tourmaline is not as abundant in the East Target, possibly preceding main stage gold;
  • Gold is most closely associated with pyrite localized by fractures and forming as blebs, nests semi-massive, and massive forms;
  • Disseminated pyrite is more common in the East Target, with or without significant gold;
  • Altered ultramafic rocks with fuchsite and pyrite occur close to the gold in the East Target (and the Central Zone), but the ultramafic rocks have not yet been observed at the Northeast Target; and
  • Fluorite is associated with gold in both zones, but the fluorite at the East Target tends to be below the high-grade gold, whereas it always occurs above the high-grade QCTP veins in the Northeast Target.

The table below summarizes the location information for the 2022 Mustajärvi East Target drill holes.

Table 2: Mustajärvi East Target 2022 Collar Information (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m) Status
22MJ003 429080 7501043 140 65 19.85 Reported Earlier
22MJ005 429109 7501027 320 80 189 Reported Here
22MJ006 429109 7501027 320 45 71.3 Reported Here
22MJ007 429197 7501085 320 45 143.1 Reported Here
22MJ010 429061 7501037 140 80 19.55 Reported Here
22MJ011 429088 7501029 140 80 33 Reported Here
22MJ012 429069 7501059   90 10.8 Reported Here
22MJ017 429154 7501012 320 45 169.6 Assays Pending
22MJ018 429088 7501029 140 80 125.3 Assays Pending
22MJ020 429121 7501037 140 80 16.8 Reported Here

Sarvi Project Drillholes

FireFox further reports that the first round of drill testing of the Sarvi Project has been completed. In addition to follow-up of favourable trench results and other targets in the northwest of the property, several drillholes tested magnetic highs divided by a NE-SW structure with a corresponding magnetic low. Assays from all 12 holes have now been received, including the first five which were reported in FireFox news release dated May 27, 2022. No significant gold intercepts were reported from the most recent seven drill holes, however the program added considerable information to the geological database that will support continued target delineation and drilling. Drill collar information for all 12 holes can be found in FireFox news release dated May 27, 2022.

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). Samples assaying above 10 g/t gold are automatically re-assayed by a 50 gm fire assay with gravimetric finish (method Au-GRA22). At FireFox’s request, these overlimit assays were completed in triplicate in order to evaluate the homogeneity of the gold in the prepared samples. Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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 into the analytical batches, none of which showed significant deviations from recommended values in the reported data.

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 approved 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

 

 

VANCOUVER, BC – (July 8, 2022) – FireFox Gold Corp. (“FireFox” or the “Company”) announces, effective July 7, 2022 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the “Private Placement”) announced on June 14th, 2022. In completing the second tranche, FireFox has increased the total gross proceeds of the Private Placement to $502,010.

In this final tranche, the Company has raised gross proceeds of $50,000 by issuing 357,143 units of the Company at a purchase price of $0.14 per unit. 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 $0.21 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

FireFox will pay to qualified finders $2,520 in cash finders fees and will issue 15,000 finders warrants exercisable at $0.21 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: 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 expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. 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.

 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. 

VANCOUVER, BC – (July 4th, 2022) – FireFox Gold Corp. (“FireFox” or the “Company”) announces, effective June 29, 2022 that, subject to regulatory acceptance, it has completed the first tranche of the non-brokered private placement (the “Private Placement”) announced on June 14th, 2022. The Company intends to complete a second tranche of the Private Placement before July 14, 2022.

In this first tranche, the Company has raised total gross proceeds of $452,010 by issuing 3,228,643 units of the Company at a purchase price of $0.14 per unit. 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 $0.21 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of 387,143 units under the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61 101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

FireFox will pay to qualified finders $1,680 in cash finder’s fees and will issue 10,000 finders warrants exercisable at $0.21 for 2 years from the date of issuance in association with the first tranche of the Private Placement.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: 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 expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. 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.

 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

 

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC – (June 14, 2022) – FireFox Gold Corp. (“FireFox” or the “Company”) announces that it intends to raise up to $1,000,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 7,142,857 units of the Company (“Units”) at a price of $0.14 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.21 per Warrant Share for a term of two years following the closing of the Offering.

It is anticipated that the proceeds of the Private Placement will be used for general working capital and exploration activities on FireFox’s gold exploration properties in Finland. Prior to this financing, FireFox has 112.7 million shares outstanding, 27.1 million warrants, and 7.6 million stock options issued.

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. The Company anticipates that the Private Placement will close on or about June 28, 2022. The Company expects to pay finder’s fees in association with this financing.

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 www.firefoxgold.com 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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.

VANCOUVER, BC, June 02, 2022 – 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. 

The securities will be subject to a four month hold period, expiring October 02, 2022. This shares-for-debt arrangement is subject to the approval of the TSX Venture Exchange.

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 concerning the Company, please refer to the Company’s profile on the SEDAR website at www.sedar.com.

 

On behalf of the Board of Directors,

“Carl Löfberg”
Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT:

FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: 778-938-1994

Forward Looking Statements

The information in this news release 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, 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 current drill program, including the expected number, depth, location, and direction of the drill holes; the timing of assay results; and possible extensions of mineralization along with its thickness and quality. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary. The forward-looking statements contained in this press release represent the expectations of FireFox as of the date of this press release 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.

It should also be noted that while FireFox’s properties are sometimes adjacent to or nearby operating or historic gold mines or active gold projects being advanced by other companies, the mineralization on properties nearby FireFox’s land packages is not necessarily indicative of mineralization on FireFox’s properties.

SODANKYLÄ, FINLAND – (May 27, 2022) – FireFox Gold Corp. (TSX.V: 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).

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.    

The first hole at Sarvi, 22SA001, intersected low grade but significant gold mineralization across several intervals in an apparent downdip extension of the anomalous gold encountered in FireFox’s first trenches in the area (see Company news release dated January 20, 2022). The rocks in this area are tholeiitic basalt, graphite tuff, and iron formation, which are interpreted to straddle the contact with the Porkonen Formation. This is the formation that hosts much of the Kiistala Shear Zone and Kittilä Mine to the west and northwest from Sarvi.

The gold zones in this hole were often accompanied by highly elevated silver and base metals, as summarized below:

  • 17.0m at 0.134 g/t Au from 111.0m downhole depth, which was part of a thicker interval of high silver (25.5m at 1.94 g/t Ag);
  • 2.60m at 0.189 g/t Au from 145.0m downhole and 7.20m at 0.119 g/t Au from 158.0m downhole, both of which are within an interval of 45.0m of elevated silver (1.29 g/t Au);
  • Additional narrow intervals of highly anomalous gold, including 1.0m at 0.42 g/t Au from 218.0m downhole; and
  • Associated enrichment in arsenic (As), antimony (Sb), bismuth (Bi), copper (Cu), molybdenum (Mo), tellurium (Te), zinc (Zn), and other elements.

“The team has drilled at four separate target areas during this campaign, and it is appropriate to finish up at Sarvi and Mustajärvi. The initial results at Sarvi are encouraging as we encountered significant low-grade gold and silver mineralization associated with graphite-bearing tuffites and iron formation, a favorable setting for gold mineralization in Lapland. Our first-ever drill hole at Sarvi confirmed the anomalous gold encountered in our trenches, and we have many other targets to test based on the base-of-till and magnetic anomalies to the southeast from these first drill holes. It is also important that we have drilled significant new step outs in the East Target and Gabbro at Mustajärvi. We look forward to receipt of the remainder of our assays from drilling at both projects during the summer,” commented Carl Löfberg, President and CEO of FireFox.

Figure 1 - Sarvi Project with Geology and Drill Hole Locations

ff 26may2022 1

Sarvi Program Details

The first drill campaign at Sarvi included 12 widely spaced drill holes totaling 2327.8 metres. The FireFox team targeted these holes based on both geochemical anomalies from base-of-till (BOT) sampling and prospective structural features interpreted from detailed geophysical data. Results for the 5 holes in the northwest portion of the original Sarvi permit are presented here.

Portions of the tholeiitic basalt, mafic (graphite) tuff, and banded iron formation that are interpreted to underlie the northwestern portion of the Sarvi Project are believed to be part of the Porkonen Formation. The Kiistila Shear Zone, which hosts Agnico Eagle’s Kittilä Mine, cuts through the Porkonen Formation to the northwest from the Sarvi Project. FireFox geologists noted anomalous Au, Ag, As, Sb, Bi, Cu, Mo, Zn, and other elements in the BOT sampling in this part of the Sarvi Project. Prospecting also revealed localized areas of outcrop exhibiting silicification, partially oxidized sulfide minerals (gossan), and highly anomalous As and base metals. Follow-up trenching in 2021 confirmed the presence of elevated gold and associated elements, highlighted by 18.0m averaging 0.23 g/t Au. Drill hole 22SA001 confirms the continuation of this low-grade gold zone to depth.

The first drill hole passed through graphite-bearing tuff and schists in the upper portion of the hole with occasional semi-massive to massive pyrrhotite (lesser pyrite) that appear to be exhalative in nature. The exhalate horizons are sometimes cut by iron-carbonate veins and stockworks. The best gold zone is 17.0m at 0.134 g/t, but much of the upper portion of the hole is anomalous in Au, and gold enrichment is always associated with elevated Ag, As, Sb, Bi, Cu, Mo, Te, and Zn. At greater depths in the hole, sphalerite (zinc sulfide) is associated with the iron-carbonate veining. Copper and zinc are also broadly elevated in the hole, but isolated maximum values in the hole are 0.2% for Cu and 0.54% for Zn. 

Below the anomalous sulfide-rich zones in the tuff and schists the drill hole passed into more massive mafic volcanics without abundant sulfides. Given the wide spaced drilling and limited sampling in the area so far, this target remains open in all directions for follow-up exploration.     

Drill holes 22SA002, 003, and 004 were aimed at various anomalies from till and heavy mineral sampling. These holes penetrated similar volcanic geology, but with more massive volcanic units and much less evidence of exhalite or sulfide mineralization. Each of the holes exhibited anomalous geochemistry in pathfinder elements but without corresponding significant enrichment in gold or silver. 

Drill hole 22SA005 was located farther to the northeast to test anomalous BOT geochemistry and an interpreted structure. The hole encountered deeper water black shales and graphitic mudstones, but the hole collapsed in a fault zone and was terminated at 172m depth. The final sample in the hole assayed 31.2 g/t silver, but without corresponding enrichment in gold.

The remaining drill holes at Sarvi were drilled in a different geological setting on the southeastern third of the permit area.  The geology in that area is interpreted to be dominated by mafic volcanics, volcaniclastics, graphite schists, and sedimentary rocks. Most of the drilling in that area was targeted on geochemical BOT anomalies associated with magnetic lows and interpreted faults, some of which are projected from areas to the south being explored by Rupert Resources and B2 Gold. The results for holes 22SA006 to 22SA012 are not yet complete and will be reported separately.    

Table 1. Sarvi Collar Information (coordinates presented in EPSG:3067)

Drill Hole

Easting

Northing

Depth (m)

Azimuth (°)

Plunge (°)

22SA001

451740.4

7501785

253.7

140

45

22SA002

452260.5

7501192

271.4

135

45

22SA003

453513.1

7501236

214.7

100

45

22SA004

453606.7

7501589

232.8

360

45

22SA005

454323.6

7502130

171.7

360

45

22SA006

453834

7500785

139.8

180

45

22SA007

454429

7501047

214.6

180

45

22SA008

454535

7500809

200

125

45

22SA009

454528

7500890

99.7

180

45

22SA010

455178

7500633

178.2

300

45

22SA011

454850.4

7501168

145.7

120

45

22SA012

454574.9

7500582

205.5

310

45

Mustajärvi Update

Following the completion of the drilling at Sarvi, FireFox moved the drill rig back to the Mustajärvi Project. On April 5, 2022, FireFox reported results from two holes in the high-grade zone at the Northeast Target and one shallow hole in the East Target. The team has completed 10 additional holes at Mustajärvi so far with several more holes pending. The new drilling includes five holes into the East Target and five holes into the Gabbro Zone on the western end of the property (see Figure 2).

The focus of this drill campaign has been on new targets with significant potential to extend the thickness and strike length of known gold mineralization at Mustajärvi. The East Target has already yielded several significant intercepts of near-surface gold, such as 4.0m averaging 6.35 g/t of Au from 13.6m down hole, including 0.8m at 25.93 g/t Au (see Company news releases dated January 25 and April 5, 2022).

The program is on-going and expected to be completed by the end of the month.

Figure 2 - Mustajärvi Project Showing Current Drilling in Progress

ff 26may2022 2

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 sawed 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). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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.

QP Statement

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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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.

SODANKYLÄ, FINLAND – (May 12, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) reports that it has completed a detailed airborne geophysical survey focused on its vast Kolho Property in Lapland, Finland. This is the third phase of airborne surveying completed over the Company’s Northern Group of properties in the last two years and extends the contiguous coverage of the Company’s detailed magnetics data in the region to more than 250km2 (see Figure 1 below). FireFox is also pleased to announce that it is lodging several applications for exploration permits covering most of the Kolho reservation.

Carl Löfberg, President and CEO of FireFox commented “Our field mapping at the Kolho property had suggested that it was a structurally complex area with geological analogies to the settings of the region’s multi-million-ounce gold deposits.  This magnetics survey has confirmed structural similarities to both the Kittilä Mine and the Ikkari deposit, and identified new, previously unmapped structures, all of which provide exciting exploration targets for follow-up work.” 

Highlights of the magnetics data from the Kolho area include:

  • Similarities, in both in EM and Mag, between the eastern-central Kolho property and the setting of Rupert Resource’s Ikkari deposit (see Figure 2 below); and
  • Banded N-S features forming a trend running NW through the Sarvi-Lehto-Kolho properties show similarities to the Kittilä/Kiistala shear zone (see Figure 3 below); and
  • New unmapped structures were identified and provide further targets for exploration (e.g. SE Kolho with isoclinal folding and crosscutting features and/or central Kolho where two new major structural intersections were interpreted).

Based in part on these new geophysics, combined with data from reconnaissance geological traverses, mapping, and sampling, FireFox is making application for five separate exploration permits, which will substantially cover the Kolho exploration reservation and allow for detailed mechanized work including drilling. The FireFox technical team continues to evaluate the magnetics data to focus follow-up work planned for 2022-23. Two priority targets have been identified based on similarities in apparent structure and magnetics to the Ikkari discovery (see Figure 2 below). Additional targets will be generated in advance of the next phase of exploration, which is likely to include base-of-till (BoT) sampling that is expected to commence in the most prospective parts of the Kolho Property late this year. 

Airborne Magnetics Survey Details

The recently completed airborne magnetics survey covered more than 100km2 focused mainly on the Kolho Property in the eastern portion of the Northern Group. Including previous surveys completed in 2020 and 2021, the Company now has over 250km2 of contiguous magnetics survey data for the area.  The recent work was conducted by the Finnish company Radai, who have extensive experience in providing geophysical surveying using unmanned aerial vehicles (UAV). Further structural interpretations for the geophysical survey data were conducted by the technical team from GoldSpot Discoveries Corp. (TSX.V: SPOT).  

The Kolho Property is comprised of a vast area along a major geologic break – the eastern contact between the Kittilä suite and Savukoski group rocks. This contact is a major thrust verging to the east, towards the Sodankylä group quartzites and the Archean Pomokaira complex (granodiorites and tonalite gneisses). This contact zone forms a 23-kilometer-long thrust zone, which the Kolho Property straddles.

The Kittilä suite rocks are bordered by the Sodankylä and Savukoski group rocks in the east, and elsewhere by various types of granitoids. The Kittilä suite comprises volcano-sedimentary remnants of an oceanic island arc and an ophiolitic rim obducted onto passive margin terranes later intruded by post collisional granites. The Kolho Property is structurally complex and hosts a lithologic package analogous to that seen at Rupert Resources’ Area 1, which is a high-priority exploration model for all Lapland explorers.

Further data interpretation revealed multiple areas where these prospective lithologies are either significantly folded or cross-cut by several proposed structures. The more detailed data also revealed previously unmapped structures in the area.

Figure 1. FireFox UAV Magnetic Interpretation over Northern Properties

UAV MagneticS 

Figure 2. Regional Magnetics over Northern Properties

Rgional MagneticsS 

Figure 3. Regional Structural Overview

Rgional MagneticsS 

QP Statement

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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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.

 

SODANKYLÄ, FINLAND – (May 5, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to report that it has concluded its winter exploration program at the Sarvi Gold Project in Lapland, Finland. The program included a significant base-of-till (BoT) sampling campaign and a 12-hole maiden diamond drilling program (see Company news release dated January 20th 2022). Having met its work commitments under the option agreement with Magnus Minerals, the Company now intends to exercise the option to acquire a 100% interest in the group of properties that includes the Sarvi Project. The project includes three valid exploration permits that occupy approximately 8-km along the northern boundary of Rupert Resources’ Area 1 discovery.   

FireFox Chairman Patrick Highsmith commented, “The Sarvi Project is without a doubt one of our most exciting projects. Even before receiving results from the recent program, we are keen to exercise our option for the core Sarvi property to secure a 100% interest in the project almost five months ahead of schedule. The option also includes the Lehto property to the north, which hosts similar geology but where we have yet to do detailed work.” 

Results from the BoT sampling and core drilling are expected over the next two months. These initial results will be important to guide the focus of the phase 2 drilling program at Sarvi, which will commence in the fourth quarter of this year.

 

Option Exercise

On August 21, 2018, the Company entered into an option agreement (“the Seuru Option”) with Magnus Minerals Ltd. (“Magnus”) to acquire a 100% interest in mineral exploration reservations (properties) in the Central Lapland Greenstone Belt of northern Finland. Since then, some of the properties have been evaluated and dropped, while other reservations and permits have been added and are subject to the conditions of the agreement (please refer to FireFox’s management discussion and analysis filings for more details).

In order to exercise the Seuru Option, FireFox has completed the following commitments:

  1. issued 1,500,000 shares,
  2. made cash payments to Magnus totalling $150,000, and
  3. incurred C$1.5M in mineral exploration expenditures on the Seuru properties

FireFox will make a final payment to Magnus of $50,000 during May, ahead of the scheduled deadline of October 5, 2022.

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.  

 

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.

 

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

 

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.

SODANKYLÄ, FINLAND – (April 5, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to provide an update on winter drilling at its wholly-owned Mustajärvi and Jeesiö Projects. This report includes a summary of results from three more diamond core holes at Mustajärvi and seven core holes at the Utsamo and Saittavaara targets at Jeesiö. In total, these news holes constitute 2,157 metres (m) of drilling.

The results from the Phase 5 drill program at Mustajärvi included holes totaling 2,337m. The results from four earlier holes were announced in a Company news release dated January 25, 2022. The objectives of this program were to better define the controls on the bonanza grade mineralization in the Northeast Target and to test magnetic and structural features at the East Target to determine if a robust mineral system extends into that area (see Figure 1, below).

The three holes reported today include new gold intercepts around the high-grade zone in the Northeast Target and a very shallow new gold intercept in the East Target. At the East Target, a new hybrid drill rig intercepted gold associated with disseminated and vein pyrite in altered tuffites coming quite close to surface (22MJ003). Two new holes offsetting the high-grade zone in the Northeast Target (22MJ001 and 22MJ002) also encountered significant gold mineralization, confirming the northeast strike and southeast dip of the en echelon vein system.

Highlights of Phase 5 2022 Drilling at Mustajärvi

  • Drill hole 22MJ003 returned 4m averaging 6.35 grams per tonne (g/t) of Au from 13.6m down hole, including 0.8m at 25.93 g/t Au;
  • Drill hole 22MJ001 returned multiple narrow intercepts of 5.76 to 15.92 g/t Au, including
    • 1.9m averaging 8.96 g/t Au from 149.8m downhole, including 1.0m at 14.5 g/t Au; and
    • 1.0m at 8.09 g/t Au from 164.3m downhole; and
    • 1.25m at 8.32 g/t Au from 180.0m downhole, including 0.6m at 15.92 g/t Au; and
    • 1.35m at 5.76 g/t Au from 203m downhole;
  • Drill hole 21MJ002 intersected the high-grade zone up dip to the west in a narrow interval of 0.6m averaging 5.98 g/t Au from 154.3m downhole, as well as several narrow intercepts of 1.06 to 1.86 g/t Au shallower in the hole.

The early-stage drilling at the Jeesiö Project did not return significant gold intercepts, but the structural zone at the Utsamo Target continues to return encouraging evidence of faulting, alteration, and anomalous geochemistry.

“Drilling along the strike of the inferred mineralization on both the East Target and Northeast targets at Mustajärvi has not only confirmed the continuation of gold mineralization within the controlling structures but also aided in defining their orientation,” commented Carl Löfberg, President and CEO of FireFox. This information will help us target additional potential high-grade gold mineralization in future drill programs. We are very excited to see the results later in the spring when we focus the drill rig on the wide open, shallow mineralization at the East Target and on the new targets in the gabbro to the southwest of the permit.”

The drilling program has moved on to FireFox’s Sarvi Project. However, further drilling is planned at Mustajärvi later this spring. New drilling will focus on the East Target and new targets in the southwest part of the permit. The East Target has now yielded multiple intercepts of strong gold mineralization that are open in all directions.

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres (km) east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures that further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than 2km of the structure. The project remains at an early stage as FireFox and predecessor companies have only drilled approximately 9,357 metres to date.

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-km segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target. The Central Zone and Northeast Target both host bonanza grade gold associated with clusters of veins in the footwall of the shear zone and are separated by more than 700m. The Northeast Target hosts the best drill intercepts to date including drill holes 21MJ001 and 21MJ010, which both returned high-grade intervals equivalent to approximately 150 gram-metres of gold (expressed as gold grade * thickness of mineralization) (see Company news releases dated June 17 and September 9, 2021). The East Target was first identified in the phase 4 drill program when two holes were drilled based on the new structural model, and both intersected modest shallow gold-mineralized intervals (see Company news release dated August 17, 2021). The East Target represents the third zone of dilation along the MSZ predicted by structural model.

Within the East Target area, hole 22MJ003 was collared about 750m northeast of the high-grade zone and 55 m to the northwest of the previously released drill hole 21MJ015 (refer to Company news release dated January 25th, 2022).  This hole was a test of a new light hybrid drill rig designed for BOT sampling but having the capability to drill cost-effective diamond core to approximately 25m depth.   

This test was a success, resulting in a core hole completed to a depth of 19.8m that intercepted lithology and mineralization similar to that found in 21MJ015. Gold was hosted in strongly altered and kaolinized intermediate tuffite metavolcanics with vein and disseminated pyrite mineralization. The best interval in the hole was 6.35 g/t Au over 4.4m (including 0.8m at 25.93 g/t Au) from 13.6 metres down hole. This shallow intercept is considered significant as all four holes in the East Target have intercepted gold mineralization, which remains open in all directions (see Figure 1).

Figure 1. Mustajärvi Gold Project Drill Hole Plan Map

April 4 Figure 1 Final

In the Northeast Target area, drill holes 22MJ001 and 22MJ002 were collared in the vicinity of the bonanza grade mineralization in order to confirm and extend its strike. Drill hole 22MJ001 was collared 20m northeast of 21MJ010, and drill hole 22MJ002 was collared 10m to the west-southwest from 21MJ010.

Both of these drill holes encountered the extensive alteration system cut by multiple quartz-carbonate-tourmaline-pyrite (QCTP) veins with significant gold grades (see Figure 2). Based on apparent strike, dip, depth, and vein mineralogy, the team is confident that these intercepts confirm continuity of the high-grade zone, even though grade and thickness vary, as previously reported. The strongest gold intercepts come from 22MJ001, including: 1.9m averaging 8.96 g/t Au starting 149.8m downhole, which includes 1.0m at 14.50 g/t Au; 1.0m at 8.09 g/t Au from 164.3m downhole; 1.25m at 8.32 g/t Au from 180.0m downhole, including 0.6m at 15.92 g/t Au; and 1.35m at 5.76 g/t Au from 203.0m depth. This hole extends the mineralized zone by approximately 12m to the east-northeast from high-grade intercepts in 21MJ010.

Drill hole 22MJ002 was collared 10m to the west-southwest from hole 21MJ010 and intersected several narrow QCTP-veins within the strongly altered intermediate tuffite. The best interval yielded 0.6m averaging 5.98 g/t Au from 154.3m downhole. This intercept appears to be up dip from the original high-grade intercepts.  Shallower in the hole, there were other notable intervals within the hole including: 0.95m at 1.86 g/t Au from 133.7m downhole, 0.8m at 1.86 g/t Au from 136.2m, and 0.5m at 1.06 g/t Au from 139.9m downhole.

Interpretation of the results suggests that the Northeast Target gold-controlling structure trends sub-parallel with the main shear zone and lithological contact in a southwest-northeast direction and dips toward the east-southeast dip. The axis of the high-grade portion of this system is believed to represent an en-echelon structure that plunges approximately 35°-40° the northeast.

Figure 2. Mustajärvi Cross-Section, Northeast Target

firefox news2

Jeesiö Drill Program Update

FireFox has also received results for the reconnaissance drilling campaign that commenced late in 2021 at the Company’s 100% held Jeesiö Project (see Company News Release dated November 11th, 2021).  A total of seven holes were drilled, including five at the Utsamo target totaling 1,113m and two at the Saittavaara target totaling 400m (see Table 1).

Previous drilling at the Utsamo target intersected significant fault zones, which are believed to be part of the Sirkka Shear Zone. The recent Utsamo drilling program was aimed at multi-element anomalies from BOT sampling completed across the structural zone and additional interpreted structures from the geophysical data (see Figure 3). The BOT anomalies included multiple pathfinder elements for orogenic gold, such as gold, tellurium, bismuth, arsenic, and antimony (see Company news release dated October 26th, 2021). Drill holes 21JEE004 and 21JEE005 targeted one of the strongest BOT geochemical anomalies in the northwestern part of the Utsamo target area. Both drill holes intersected thin intervals of albitized metasediments with disseminated and vein-related pyrite, but no significant gold. Drill hole 21JEE006 targeted the same interpreted structure, farther to the northwest from 21JEE004 and 21JEE005. This drill hole intersected a significant fault zone, and the drilling was terminated due to technical issues at 208.8m downhole.

Drill hole 21JEE007 was collared in the central part of the Utsamo target testing another geochemical anomaly, approximately 1.08km southeast from 21JEE004. This drill hole intersected a package of strongly faulted and altered metasediments with varying mafic volcanic and intrusive rocks but no significant gold. Drill hole 21JEE008 was targeted on another interpreted structural feature that apparently cuts an interpreted gabbroic intrusive in the southeast of the target area. The drilling did not confirm the presence of a structure.

Drill holes 21JEE009 and 21JEE010 were drilled at the Saittavaara Prospect, approximately 10km south of Utsamo, where a near-surface zone of 4.0m averaging 2.03 g/t Au, including 2.0m at 3.18 g/t Au was reported from scout drilling in 2021 (see Company news releases dated August 3rd, 2021). Despite favorable indications from the geophysics, the drilling did not encounter the same strong deformation or alteration previously seen in the area.

Figure 3. Jeesiö Project Drill Holes, Utsamo Target

April 4 Figure 3

 

Table 1. Collar Information (coordinates presented in EPSG:3067)

Drill Hole

Easting

Northing

Azimuth (°)

Plunge (°)

Final Depth (m)

Mustajärvi Drill Holes

22MJ001

428471

7500700.7

327

71

349.5

22MJ002

428447

7500681.1

340

70

274.4

22MJ003

429080

7501043

140

65

19.85

Jeesiö (Utsamo) Drill Holes

21JEE004

470026.5

7489087

227

-45

234.8

21JEE005

469947.3

7489074

227

-45

238.4

21JEE006

469636

7489102

227

-45

208.8

21JEE007

470829.7

7488357

225

-45

204.6

21JEE008

472242

7487137

0

-45

226.7

Jeesiö (Saittavaara) Drill Holes

21JEE009

469853.4

7478346

60

-45

204.4

21JEE010

470061.4

7478293

240

-45

195.5

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. FireFox geologists maintained chain of custody and applied 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.

Methodology & Quality Assurance

FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were first 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). Gold values which exceeded 10 ppm were assayed in triplicate by fire assay with a gravimetric finish (method Au-GRA22, Au-GRA22d and Au-GRA22t). Selected samples were assayed with a 1,000-gram Au-SCR24 method (screen fire assays) based on the presence of visible gold. Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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.

SODANKYLÄ, FINLAND – (January 25, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to announce results for the first four diamond core holes from the phase 5 drilling program at the Company’s 100%-held Mustajärvi Gold Project. This round of drilling included three holes in the same section of the Northeast Target from which bonanza-grade gold was previously reported and one hole at the East Target. All four holes returned significant gold assays (grades exceeding 3.0 g/t). The new hole in the East Target was especially interesting as it represents a step-out of more than 100 metres (m) from the nearest drilling, over 750m from the high-grades in the Northeast Target, and approximately 1.6 kilometers from the Central Zone. Two additional holes from the Northeast Target at Mustajärvi are awaiting results.

HIGHLIGHTS OF THE PHASE 5 DRILLING

  • Drill hole 21MJ014 confirmed the presence of the bonanza grade zone at the Northeast Target by intercepting 1.5m at 45.85 g/t Au from 168.5m depth, including 0.5m at 130.5 g/t Au - total grade-thickness of gold mineralization at 102 gram-metres
  • Drill hole 21MJ013 extended the bonanza grade zone with an intercept of 0.75m of 41.46 g/t Au from 157.15m depth
  • Confirmed the presence of at least one additional gold-bearing vein system in the Northeast Target dipping north, as opposed to the prevailing south dip of the veins reported to date
  • The first intercept of high-grade mineralization in the East Target in drill hole 21MJ015, with 1.0m at 11.04 g/t Au from 51.8m depth, including 0.6m at 14.8 g/t Au

Carl Löfberg, President and CEO of FireFox, commented, “We are very pleased with the work by our technical team to unravel the complex structural controls on the high-grade gold at the Northeast Target. Their initiative has resulted in more bonanza grade intercepts and clear direction on where to drill next. The shallow high-grade intercepts at the East Target may be even more significant as that drill hole extends the Mustajärvi system to more than 1.6km of strike with gold intercepts of greater than 10 g/t. Mustajärvi is only one of four permitted FireFox projects in Lapland, but we are reaping the benefits of what we learn here in our drilling elsewhere.”

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometers east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures that further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometers of the structure. The project remains at an early stage as FireFox and predecessor companies have only drilled approximately 8,700 metres to date. 

FireFox’s structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target. The Central Zone and Northeast Target both host bonanza grade gold associated with clusters of veins in the footwall of the shear zone and are separated by more than 500 metres. The Northeast Target hosts the best drill intercepts to date including phase 4 holes 21MJ001 and 21MJ010, which both returned high-grade intervals equivalent to approximately 150 gram-metres of gold (expressed as gold grade * thickness of mineralization) (see Company news releases dated June 17 and September 9, 2021). The East Target was first identified in the phase 4 drill program when two holes were drilled based on the new structural model, and both intersected modest shallow gold-mineralized intervals (see Company news release dated August 17, 2021).

A primary objective of the phase 5 Mustajärvi drill program was to better define the controls on the bonanza grade mineralization in the Northeast Target. A secondary objective was to test magnetic and structural features at the East Target to determine if a robust mineral system extends into that area. Table 1 provides a summary of gold intersections exceeding 3.0 g/t.

Details of the Northeast Target

The first three holes of this program were 21MJ012 – 14. These three holes were collared approximately on the northwest line of section that hosted the bonanza grade gold in 21MJ001 and 21MJ010 (See Figure 1). This drilling confirmed that the Mustajärvi gold mineralization is predominantly hosted in strongly albitized (sodic alteration) tuffites and meta-sedimentary rocks of the Sodankylä Group. These host rocks are commonly cut by veins of various composition and different orientations, and gold is closely linked to the presence of pyrite. The first two holes (21MJ012 and -013) aimed to test the downdip extension of the high-grade zone to the south. The third hole (21MJ014) was designed as a “scissor hole”, drilled in the opposite direction of the other holes on the section, to test for mineralization having a different structural control, i.e., north dipping veins. The scissor hole was also aimed at the bonanza grade zone and offered the opportunity to test for pinching and swelling in the main south dipping vein system.

Figure 1. Mustajärvi Gold Project Drill Hole Plan Map

firefox news1

These three holes into the Northeast Target demonstrated that the high-grade zone is open along strike to the northeast and southwest, but that the zone is controlled by flexures and cross cutting structures giving it a much flatter dip than the host veins. As can be seen in the cross section (Figure 2), there are now numerous strong gold intercepts between 100 and 170m below surface. Drill holes 21MJ013 and -014 both delivered narrow bonanza grade intercepts associated with the key horizon. This sort of apparent elevation control is common in orogenic gold systems. The gold occurs in multiple veins and vein sets but is controlled by a zone of dilatancy striking parallel to the shear zone (NE-SW). There are likely to be multiple en echelon vein sets, and the potential for additional high-grade mineralization has already been demonstrated with the previously reported high-grade at the Central Zone and the new encouraging results at the East Target.

Figure 2. Mustajärvi Cross-Section, Northeast Target

firefox news2

Drill holes 21MJ012 and -013 were collared close to drill holes 21MJ001 and -010 and drilled with the same azimuth but at different plunges to facilitate testing of the continuity of mineralization to depth. These holes began in the Savukoski Group mafic volcanics and passed into the Sodankylä Group intermediate tuffites at depth. The intermediate tuffites are pervasively albitized throughout and include quartz veins with differing mineralogy that often localize and intensify silica-sericite alteration. Gold continues to be associated with quartz-carbonate-tourmaline-pyrite (QCTP) veins.

Drill holes 21MJ012 and -013 included numerous narrow gold intercepts above 1.0 g/t. The best intercept in 21MJ012 was 0.9m at 3.6 g/t Au, and the strongest result in 21MJ013 was 0.75m at 41.46. The mineralogy of these higher-grade intercepts was consistent with the previous Mustajärvi drilling. Among the pyrite and telluride minerals in the veins, FireFox geologists also documented the presence of molybdenite.

Drill hole 21MJ014 was collared 16 metres north-northwest from drill hole 21MJ006, but it was drilled to the south-southeast to verify the indications from earlier drilling that multiple vein directions exist in the Northeast Target. Since it was collared farther north, this hole remained in the altered tuffites of the Sodankylä Group. The hole intersected 14 mineralized intervals/veins with grades over 1 g/t Au. Mineralization is again consistently related to quartz-carbonate-tourmaline vein systems with disseminated, patchy and (sometimes) massive pyrite. The best interval was intersected at 168.5 to 172.6m downhole depth and it included QCTP veins with disseminated and locally semi-massive to massive pyrite. FireFox geologists confirmed the presence of multiple micro-grains of visible gold among the pyrite-rich section of the hole. While anomalous gold spanned this entire interval, the strongest gold grades occurred over 1.5m that averaged 45.85 g/t Au from 168.5m depth, including 0.5m at 130.5 g/t Au (the highest single assay yet received from drilling at Mustajärvi). Other high-grade intercepts in this hole, also related to QCTP veins, included 1.0m at 19.17 g/t Au from 131.3m and 0.8m at 13.01 g/t Au from 325.65m downhole. Taken together, these high-grade intercepts make 21MJ014 the third FireFox drill hole with greater than 100 gram-metres of gold in grade thickness (102 gram-metres).     

The high-grade intercepts in 21MJ013 and -014 between 157 and 173m downhole depths are interpreted to be extensions of the high-grade zone reported from drill holes 21MJ001 and -010. FireFox is drilling oriented core and is investing considerable effort to build a three-dimensional model of the Mustajärvi mineral system. Based on this work, FireFox’s preliminary interpretation is that the high-grade zone at the core of the Northeast Target results from a swarm of en echelon veins and that the strongest gold grades appear to be in a relatively flat horizon that trends parallel to the MSZ. The team awaits assays from two additional holes in this zone that will test this part of the system to the northeast and southwest from the high-grade discovery holes.

East Target Results

The East Target is approximately 1.5km northeast from the original site of the Mustajärvi discovery at the Central Zone. FireFox identified the target for drilling based on a kink in the MSZ and an interpreted dilatant zone that was associated with anomalous gold in base-of-till sampling and a magnetic low. Phase 4 drilling included two holes in the area, both of which intersected narrow intercepts of significant but low-grade gold. Drill hole 21MJ004 returned 2.90m of 1.30 g/t Au, while 21MJ005 intercepted 1.0m of 3.79 g/t Au (see Company news released dated August 17, 2021).

Ongoing work on the MSZ and the East Target has revealed likely cross structures striking north to northeast through this part of the system, and a pronounced magnetics low occurs just east of last year’s drilling. Drill hole 21MJ015 was designed to test this area. The hole was collared approximately 100m east of 21MJ004 and directed to the northwest. In total, the hole encountered seven vein systems with grades over 1 g/t Au and several more with grades between 0.5 -1 g/t Au. The best results come from an interval beginning at 45.5m downhole, 2.45m that averaged 7.97 g/t Au.  However, other narrow intervals of note include 0.6m at 14.8 g/t Au from 51.8m and 1.0m at 7.62 g/t from 22.1m downhole. These intercepts are consistent with early results from the Central Zone and the Northeast Target, and these gold values clearly demonstrate the presence of another potentially significant gold bearing vein system that is open in all directions.  

The lithology in the hole was dominated by the intermediate tuffites of the Sodankylä Group, and the rocks are almost pervasively altered by albite and silica, with locally intense sericitization. Mineralization was encountered in this hole at a relatively shallow depth (<30m downhole), but the sulfide content became more localized or decreased below approximately 70m.

This zone is remarkably consistent with mineralization elsewhere along the +2.1km mineralized strike of the Mustajärvi Shear Zone. Gold enrichment is normally related to QCTP veins with disseminated, patchy and locally semi-massive pyrite mineralization. The intensity of the veining in the upper portions of this hole is very high with significant development of vein breccias. While most of the gold appears to be hosted by south dipping veins (near perpendicular to the core axis), there is also evidence of significant veining parallel to the core axis (north dipping). While hematite (iron oxide) is noted at the Northeast Target, hematite and specular hematite are more common and abundant in the East Target.

Table 1: Summary of Significant (>3.0 g/t Au) Drill Intercepts Cutoff Grade 1.0 g/t Au

Drill Hole From (m) To (m) Interval* (m) Gold (g/t)
21MJ012 196.9 197.8 0.9 3.6
 
21MJ013 124.45 125.15 0.7 5.84
and 157.15 157.9 0.75 41.46
and 160.7 161.2 0.5 4.59
 

21MJ014

131.3 132.3 1.0 19.17
and 153.75 154.3 0.55 6.4
and 168.5 170 1.5 45.85**
including 168.5 169.0 0.5 130.5**
and 325.65 326.45 0.8 13.01
 
21MJ015 22.1 23.1 1.0 7.62
and 45.55 48.0 2.45 7.97**
and 51.8 52.8 1.0 11.04**
including 51.8 52.4 0.6 14.80
* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modelling. ** These intervals were subjected to a 1,000gm screen fire assay protocol designed to capture coarse gold

The table below summarizes the location information for these drill holes.

Table 2: Collar Information (coordinates presented in EPSG:3067).

Drill Hole Easting Northing Azimuth (°) Plunge (°) Final Depth (m)
21MJ012 428480 7500631 340 70 515.4
21MJ013 428463 7500668 340 70 445.1
21MJ014 428406 7500804 155 55 413.6
21MJ015 429125 7501011 318 45 319.4

 

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 first 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). Gold values which exceeded 10 ppm were assayed in triplicate by fire assay with a gravimetric finish (method Au-GRA22, Au-GRA22d and Au-GRA22t). Selected samples were assayed with a 1,000 gram Au-SCR24 method (screen fire assays) based on the presence of visible gold. Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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.

SODANKYLÄ, FINLAND – (January 20, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”)  is pleased to announce that the winter drilling program is progressing as planned with approximately 3,800 metres drilled to date on three separate projects. The Company is now set to begin its first drilling at the Sarvi Project, which adjoins Rupert Resources’ Area 1 property. The first phase of diamond drilling at Sarvi is slated to start before the end of January and will include up to 500m in the northwestern portion of the project, where trenching and base-of-till (BOT) sampling have identified several gold and multielement anomalies. There is an ongoing BOT sampling program at Sarvi and results are not yet available for the southern and eastern portions of the property (see Figure 1, below). The Company expects to bring the drill rig back to Sarvi during the second quarter for an estimated 2,000 metres of additional drilling.

Carl Löfberg, President and CEO of FireFox, commented, “Our winter drill program is going very well so far. In fact, for the first time in FireFox’s history we have a core rig operating at the same time as two base-of-till drilling rigs. We have already drilled three of our four permitted projects and are now advancing towards the first drilling on our Sarvi Project. Our integrated interpretation of geophysics, mapping, BOT sampling, and new trenching data has dramatically improved our understanding of the geology and targets at Sarvi. Our team believes that the southern portion of the Sarvi Project occupies a similar geologic setting to Rupert’s Area 1 Project, so this is a very exciting time in the company’s short history.”     

The Sarvi Project is part of the Company’s large land package covering part of the Kittilä Suite of volcanic rocks in the Central Lapland Greenstone Belt. The project is centred on the Sarvi exploration permit, and also includes the Sarvi-2 tenement to the north and Keulakko to the west. The Company was recently granted exploration permits for the latter two properties, expanding its ability to conduct mechanized exploration and drilling across all three properties, a total of 21 km2.

Sarvi Work Program and Results to Date

FireFox conducted an airborne magnetic survey covering the Sarvi area in 2020. The processing and interpretation of these data identified several possible NW-SE trending structures that intersect E-W and NE-SE trending major structures that appear to be earlier. These structures define some major lithologic contacts and also crosscut the dominantly mafic volcanic terrane. The later crosscutting structures may be part of the so called D3 event, or third stage of deformation, which has been linked to major gold mineralizing events in Lapland.   Comparable structural settings have been reported at Rupert Resources’ Area 1 target to the south, where several significant gold occurrences have been discovered recently (See Figure 1 on Rupert Resources’ news release dated January 18th, 2022).

FireFox cautions that proximity to a discovery or mineral resource, does not ensure 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.

In early 2021, Firefox followed up with a more detailed ground magnetic survey to better delineate these structural targets. In addition, exploration trenching and an ongoing BOT sampling program have identified anomalies that are often coincident with key structural features and may be related to the D3 event.

During reconnaissance geologic mapping and rock sampling, the Firefox team identified an area in the northwest of the Sarvi permit with thin overburden and anomalous results from rock chip and till sampling. A total of eight trenches spanning 475m were excavated, mapped, and sampled on this target. The trenching campaign exposed a volcano-sedimentary unit including significant thicknesses of graphite schist. FireFox geologists collected 169 channel/chip samples and 73 grab samples from the trenches. Most anomalous gold samples were hosted within graphitic schist, with the highest interval averaging 0.23 g/t gold over 18m (including 10m averaging 0.31 g/t gold). The anomalous gold was correlated with elevated arsenic, silver, copper, molybdenum, and other elements. The team recorded detailed information on the geology, alteration, veining, and structures from the trenches that will guide future drill targeting on these gold anomalies.

Firefox has also completed roughly one third of the planned stage 1 BOT sampling program at Sarvi. To date, the Company has collected approximately 1,200 BOT samples, of which 769 analytical results have been received, mostly in the northwest portion of the project. The program will continue across the property and with infill BOT sampling on closer spacing around the emerging targets in the northwest. So far, the BOT results have returned potentially significant anomalies in gold, silver, arsenic, antimony, copper, molybdenum, bismuth, tellurium, and other elements. The team continues to receive results from the lab on a regular basis, so analysis and interpretation remains preliminary. However, the anomalous results occur in clusters, often associated with interpreted structures and geologic contacts from the geophysics.   

Figure 1. Sarvi Project Area, Winter 2022 Program Progress

Sarvi Program Jan 20 2022 NR Map V2

Winter Drill Program Update

As announced on November 11, 2021, FireFox completed the first pass of the phase 5 drilling program at its 100%-held Mustajärvi Gold Project, including 1,694 metres in four holes.  Since then, an additional two holes have been completed, totaling 624 metres.  

In November and December, FireFox drilled 1,113 metres in 5 drill holes at the Utsamo Prospect, northern Jeesiö Project. The Utsamo drilling was based primarily on the gold and multielement BOT anomalies reported in the October 26, 2021 news release. FireFox plans to continue BOT sampling at Utsamo to delineate additional drill targets associated with the complex structural setting there.

Less than 10 kilometres to the southwest of Utsamo, FireFox also completed two additional scout drill holes totaling 400m at the Saittavaara Prospect, also within the large Jeesiö Project. This target was drilled for the first time earlier in 2021 and yielded gold mineralization of more than 0.9 g/t in two of three holes, as reported on August 3rd.

Assays and interpretation are pending for all drill holes.

Methodology & Quality Assurance

BOT sampling targets the basal till and bedrock interface using a percussion drill mounted on a tracked vehicle. FireFox geologists supervised sampling procedures and maintained chain of custody according to best industry practice and with due attention to quality assurance and quality control. The BOT program includes collection of field duplicates and insertion of certified reference materials and blank samples into the laboratory submittals. FireFox team members transported the rock samples to an ALS sample prep lab in Sodankylä and BOT samples to the ALS sample prep lab in Outokumpu.

The lab dried (60° C) and screened the till samples to -180 µm and analyzed them by the AuME-TL43 method, utilizing an aqua regia digestion with an ICP-MS finish. Bedrock samples, including grab samples, channel samples and chip samples were dried and crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to a facility in Ireland for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61). 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.

No QA/QC issues were identified from a review of the analytical data discussed herein.

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 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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

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.

SODANKYLÄ, FINLAND – (November 11th, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”)  is pleased to provide an update on its diamond drilling campaign that is underway testing up to four of the Company’s gold properties in Finland’s Central Lapland Greenstone Belt, as announced on October 6th, 2021.

FireFox has completed the first pass of the phase 5 drilling program at its 100%-held Mustajärvi Gold Project, including 1,664 metres in four holes (see Figure 1 and Table 1). Drilling was primarily focused at the Northeast Target where the Company previously reported 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). A fourth hole was drilled to probe for the heart of the new East Target, located approximately 750 metres east from 21MJ001 (see news release dated August 17, 2021). All results are pending as these four holes are at various stages of logging, cutting, and sampling or are newly arrived at the laboratory for sample preparation and analysis.

Carl Löfberg, President and CEO of FireFox, commented, “The main strategy for this round of drilling at Mustajärvi was to add closely spaced step-out holes around the high-grade zone to gain a better understanding of its dimensions and controls. We have further tested the overall size of the mineralized system by adding another hole in the East Zone, one hundred metres from the encouraging results from earlier in 2021. While the Mustajärvi core is being processed and analyzed, we are moving ahead to evaluate the exciting new targets at Utsamo. We shall return to Mustajärvi for more drilling later in this drill program.”

The drill rig has now mobilized to the Utsamo Prospect at the Jeesiö Gold Project, where base-of-till (BOT) sampling from 2020 and 2021 identified strong gold and multielement anomalies, likely associated with multiple interpreted splays of the Sirkka Shear Zone (see Company news release dated October 26th, 2021). Drilling will commence immediately with up to six holes planned, for a total of approximately 1,300 metres in two areas (see Figure 2).

The priority is the group of holes aimed at the prominent multi-line BOT anomaly near the northwest limits of the sampling, which is comprised of associated gold and pathfinder elements along the margin of a magnetic low. The second group will include a few drill holes farther south and east aimed at structural and geophysical targets with associated BOT anomalies. The Utsamo Corridor includes more than 5 kilometers along the inferred path of the Sirkka Shear Zone as it bends through the project area. FireFox’s gold targets have resulted from an integrated interpretation of geological, geophysical, and geochemical data.

The drill campaign is expected to continue through January 2022 with two additional target areas likely to see drilling:

  • The 100%-held Sarvi Project, adjoining Rupert Resources’ Area 1 discovery zone, where FireFox is currently engaged in a detailed BOT sampling program to define targets; and
  • The Saittavaara Prospect in the southern Kataja Belt of the Jeesiö Project, which 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 as reported on August 3rd.

Figure 1- Drilling at the Mustajärvi Gold Project

nov10 1

Figure 2- Drill Targets at the Utsamo Target Area

nov10 2

Table 1: Mustajärvi Phase 5 Collar Information. Coordinates presented in EPSG: 3067.

Drill Hole

Easting

Northing

Azimuth (°)

Plunge (°)

Final Depth (m)

21MJ012

428480.1

7500631.0

340

70

504.3

21MJ013

428463.3

7500668.0

340

70

435.1

21MJ014

428406.0

7500804.0

155

65

405.1

21MJ015

429125.4

7501011.8

318

45

319.4

Corporate Update

FireFox also announces that the Board of Directors has approved the grant of stock options to certain directors, officers, employees, and consultants of the Company allowing for the acquisition of up to, in the aggregate, 2,500,000 shares of the Company. The grant is pursuant and subject to the terms and conditions of the Company's existing stock option plan. The options are exercisable at a price of $0.30 per share, an 11% premium to the closing price on the previous trading day, for a period of five years from the date of grant and are subject to the approval of the TSX Venture Exchange and all regulatory approvals.

Quality Assurance

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 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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

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.

SODANKYLÄ, FINLAND – (October 26, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) today reported the results of its recently completed base-of-till (BOT) sampling program at the Utsamo Prospect in the northeast part of the Company’s 100% owned Jeesiö Gold Project. The data include strong gold and multielement anomalies associated with multiple interpreted splays of the important Sirkka Shear Zone (SSZ).

The most prominent feature emerging from the survey is a multi-line anomaly near the northwest limits of sampling that is comprised of a spatial association among gold and several other trace elements. There are at least two other robust anomalies farther south and east. Each of the major anomalies is associated with major interpreted structures and magnetic anomalies that could be favorable settings for gold deposits (see Figure 1). The core drill will arrive at Utsamo in November, so the FireFox team is readying drill sites based on these BOT data.

Key takeaways from the Utsamo BOT survey include:

  • High contrast gold anomalies against a very low background, the maximum gold value in the 2021 data is just under 1 ppm (0.919 ppm);
  • Well-developed spatially associated anomalies in key pathfinder element such as: tellurium, bismuth, arsenic, antimony, silver, and molybdenum;
  • Statistical and spatial associations in the geochemistry assist in mapping geology, as well as mineralization, beneath the glacial sediments; and
  • The high priority BOT anomalies correlate with important faults and geophysical anomalies that were already believed to have potential for gold mineralization.

Carl Löfberg, President and CEO of FireFox, commented, “We have recently seen the value of quality BOT sampling with the Rupert discovery at Area 1, and now the FireFox team has delivered some great results at Utsamo. We knew that Utsamo occupied a major structural corridor where the Sirkka Shear Zone bends from dominantly east-west to dominantly north-south. Now we can see geochemical evidence of a gold system that heightens the importance of the 2021 drilling that is about to begin. We are excited for the Utsamo target to become our second prospect tested this fall, as the drill will soon depart Mustajärvi.”

Base of Till Program Summary and Interpretation

Similar to other gold exploration projects in the Central Lapland Gold Belt (CLGB), such as Rupert Resources’ Area 1 Discovery, this part of the Jeesiö Project is covered by glacial sediments of varying depths. BOT sampling is a very useful tool to prospect through this cover by capturing samples of the basal till or bedrock. Sometimes the BOT anomalies may be transported “down-ice” by glacial processes and subsequent groundwaters, but in other cases the anomalies may be very near their source. This is partially due to the fact that this part of Lapland is near the origin of the glaciers.   

 

Figure 1. Location Map of New Exploration Permits at Sarvi and Lehto

figure 1 firefox

 

The Utsamo Corridor is a five-kilometre-long zone of complex folds, faults and shears developed along a flexure in the SSZ. A BOT survey with numerous survey lines and closely spaced sample sites was planned to test prospective geological, structural, and geophysical targets within the structural corridor. Between March and August of this year the FireFox team completed the detailed BOT sampling program with 1,012 sample points in an area spanning approximately 3.5 by 4 kilometres where bedrock is covered by an estimated 5 to 30 metres of glacial overburden. This brings the total BOT samples at Utsamo to 1,233.

ALS Global labs analyzed the BOT samples using an aqua regia digestion and ultra-trace analysis for gold and a suite of 50 elements.  FireFox employed industry standard quality assurance protocols during the sampling program, including the inclusion of analytical control samples. The quality of the data was found to be good. There are numerous gold anomalies across the survey area and they are not confined to a single geologic unit but appear to be related to faults and major interpreted lithologic contacts. While the maximum gold values reach as high as 0.919 ppm, the most prospective anomalies are likely where gold anomalies correlate with other important pathfinder elements such as arsenic, bismuth, tellurium, and antimony. 

The FireFox team and its technical advisors employed principal components and factor analysis of the large multielement database to identify targets and map geology. The statistical analysis captured at least two multi-element associations that may be related to buried gold systems. One statistical factor that is believed to be significant in the Utsamo targets includes a simple gold (Au) – tellurium (Te) association. There is another more complex association that maps more extensive anomalous patterns, including elements such as antimony (Sb), molybdenum (Mo), arsenic (As), mercury (Hg), bismuth (Bi), lead (Pb), tellurium (Te), and zinc (Zn). By grouping these multielement responses into one statistical factor, referenced here as the “Mineralization Factor”, more information can be conveyed in a single map, as shown in Figure 1.

The strongest anomalies for this associated group of elements form an arcuate pattern in the northeast part of the target area that is coincident with several gold anomalies. The 2019 drill campaign tested a very small part of this area with three holes, but the anomaly strengthens considerably over a 500-metre trend farther to the northwest from the previous drilling. While the 2019 drilling did not intercept significant gold, those three core holes did confirm the presence of a significant fault in the area (see Company news release dated January 21, 2020) cutting through intermediate to mafic volcanic rocks cut by ultramafic dikes or sills. Confirming the presence of a fault in this area makes the continuation of this anomaly to the northwest even more interesting, particularly given the prevailing ice transport direction in the area coming from the northwest. FireFox intends to drill test this target during November and December. 

There are other significant anomalies visible on the map of the Utsamo Corridor.  The southeastern anomaly is very interesting as the multielement association correlates with several gold anomalies associated with another likely splay of the SSZ.  There is also a prominent northeast trending fault that has been interpreted from the magnetics data cutting through the area. Here too FireFox has previously drilled in the area. The four holes shown on the map were drilled in late 2020 and news released on March 5, 2021. The target at the time was an interpreted structural zone cutting through a metasedimentary and volcanic rock package. The reconnaissance drilling was helpful in confirming a fault in the area as well as moderate hydrothermal alteration and associated anomalous trace element geochemistry. The potential drill targets for the 2021 - 2022 drill program will be shifted back to the southeast closer to the interpreted cross fault and anomalous BOT results.   

Methodology & Quality Assurance

The basal till and bedrock interface was targeted using a percussion drill mounted on a tracked vehicle. 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 collection of field duplicates and insertion of certified reference materials and blank samples into the laboratory submittals. FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were first crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to the ALS facility in Loughrea, Ireland to be measure for gold and a package of 50 other elements to ultra-trace levels after aqua-regia digestion by ICP-MS (method AuME-TL43). 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.

No QA/QC issues were identified from a review of the analytical data.

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 the Jeesiö Project

The 100%-controlled Jeesiö Gold Project covers approximately 142km2 of the prospective Central Lapland Greenstone Belt, proximal to other exciting recent gold discoveries in Finland. The Jeesiö properties are positioned along the major regional structure known as the Sirkka Shear Zone, a trans-crustal structure that controls the emplacement of most of the orogenic gold deposits in Lapland. The main Jeesiö targets include the Utsamo and Kataja Belt areas. Utsamo is situated directly between Aurion Resources’ Risti and Launi gold occurrences, while Kataja is only two kilometres southwest from the gold-bearing quartz-sulfide vein system at Launi.

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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439


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.

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). 

Quality Assurance 

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 

CONTACT: 

FireFox Gold Corp. 

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Telephone: +1-778-244-8439 

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. 

SODANKYLÄ, FINLAND – (September 9th, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to announce the results of the final four holes of the Phase 4 diamond drilling program at its 100%-owned Mustajärvi Project. These results confirm a considerable down dip extension of previously drilled high-grade gold. Drill hole 21MJ010 intersected multiple significant gold intervals, the highlight of which was 7.69g/t gold over 16.45 metres, including 42.47 g/t gold over 0.9 metres.

Modeling of 21MJ010 appears to confirm the down-dip continuation and thickening of the bonanza-grade zone intercepted by drill hole 21MJ001, which yielded 1.35 metres at 93.88 g/t gold as reported by FireFox on June  17, 2021 (see Figure 1, below).

In addition, drilling encountered several new intervals of alteration and gold mineralization at depth that may suggest growing potential with depth.

Carl Löfberg, President and CEO of FireFox, commented about the latest encouraging results, “This extension of high-grade gold to depth at Mustajärvi is a real breakthrough for FireFox. Not only has our team been able to predict, test, and intercept new high-grade gold occurrences along strike for more than a kilometre, but we can also now visualize and model a strong mineral system growing in thickness with depth. A core rig will arrive back on site in early October, and we will proceed with a pattern of closely spaced step out holes to fully evaluate this high-grade zone. We shall also be testing new targets at depth and farther to the northeast.”  

Table 1: Summary of Significant (>1.0 g/t Au) Drill Intercepts

Drill Hole

From (m)

To (m)

Interval* (m)

Gold (g/t)

21MJ009

66.3

67.0

0.7

2.21

21MJ010

100.8

101.9

1.10

4.44

 

154.15

170.60

16.45

7.69

including

155.30

155.95

0.65

28.57

and

157.4

158.0

0.60

24.70

and

159.90

160.85

0.95

12.70

and

162.0

167.0

5.00

5.56

and

168.4

170.6

2.20

22.34

including

168.4

169.3

0.90**

42.47

 

323.0

324.0

1.0

9.10

 

345.0

347.0

2.0

3.92

* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modeling.

**Including 0.4m of core loss

 

Figure 1. Mustajärvi Cross-Section A-A’ with Holes 21MJ001, 21MJ006 and 21MJ010

Mustajarvi Cross SectionS
Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometers east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometers of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled less than 7,000 metres to date. 

FireFox has developed a structural model that has identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. There are three main areas of gold mineralization along a 2.1-kilometre trend, namely the Central Zone, the Northeast Target, and the new East Target (see Figure 2).

Figure 2. Mustajärvi Drilling and Structures on Magnetic Data

 Mustajarvi drill holes S

The Central Zone and Northeast Target both host bonanza grade gold associated with clusters of veins in the footwall of the shear zone but are separated by more than 500 metres.   These two areas have been tested by several programs since 2018 that have expanded the lateral extent of known mineralization in multiple directions.

The Northeast Target returned the best intercepts in both the 2019 and 2020 drill programs, and the Phase 4 program has further improved the grades and intervals.  Holes 21MJ001 (reported June 17, 2021) and hole 21MJ010 both returned bonanza grades and approximately 150 gram-metres of gold (expressed as total grade * thickness of mineralization).  

Drill hole 21MJ010 was collared 57 metres north-northwest from drill hole 21MJ001 and was drilled with a steeper plunge, in order to confirm the continuation of the mineralization to depth. Interpreting these new data in the context of ongoing three-dimensional modeling, the FireFox technical team has concluded that the high-grade vein system at the Northeast Target continues and thickens down dip (see Figure 1). However, more drilling is required to confirm the true thickness and extent of this high-grade gold system.

Hole 21MJ010 was collared in hanging wall Savukoski mafic volcanics and intersected the intermediate tuffs of the Sodankylä Group at approximately 74m depth. This is consistent with most of the drilling along the Mustajärvi Shear Zone (MSZ), which meanders and forms splays along the zone that often coincides with this major contact. The footwall Sodankylä Group rocks are pervasively albitized along this corridor, exhibiting both brittle and ductile deformation fabrics, but the dominant foliation is nearly perpendicular to the core axis.

The upper contact of the more intense gold mineralization is marked by bladed calcite with open space, similar to the upper zone observed in hole 21MJ001. The gold is hosted in multiple quartz–carbonate-tourmaline-pyrite (QCTP) veins, including disseminated and locally semi-massive to massive pyrite. Among the pyrite and telluride minerals in the veins, the team has also confirmed the presence of molybdenite. The veins have similar characteristics to those intersected up dip in hole 21MJ001.  The high-grade vein system strikes approximately 50° NE and dips 60° SE. 

The intensity of albite alteration (+ sericite and silica) increases downhole. The two deeper gold intercepts reported at 323m and 345m, respectively, are significant.  The upper zone is another relatively narrow QCTP vein, which appears to include very fine-grained visible gold, but the deeper intercept is associated with more subtle disseminated pyrite in albite-altered tuffite with tourmaline veinlets. So far, it has been rare at Mustajärvi to see gold associated with disseminated sulphides.

The FireFox team believes that the increasing intensity of alteration with depth in the Northeast Target may be favorable for the depth potential of the system. Drill hole 21MJ010 is the deepest hole drilled in this area to date, and it stands out as having passed through 20 mineralized veins, each with at least anomalous gold content.

Drill hole 21MJ011 tested the Company’s structural model by drilling the area between the interpreted dilatant zones of the Central Zone and Northeast Target.  Several moderately albitized and broken zones with limited tourmaline veining and narrow quartz veins were intersected, but no significant gold intervals were detected.

The only hole of the Phase 4 program to target the Central Zone was 21MJ009. This hole was drilled more steeply than prior holes in an area of previously reported high-grade gold. Several strongly albitized intervals contained evidence of multiple phases of deformation, likely confirming the presence of the down dip extension of the shear zone. However, there were relatively small amounts of pyrite and tourmaline, and correspondingly low grades of gold intercepted, with only one notable interval of 2.21g/t over 0.7 metres recorded at 66.3 metres downhole. 

Finally, drill hole 21MJ008 was drilled near the far southwest extent of the Mustajärvi permit. The hole was located proximal to a gold-in-till anomaly and drilled to test for the presence of the MSZ passing through the gabbro. Although locally strongly albitized gabbro was intersected, no significant gold grades were returned.

The table below summarizes the location information for these drill holes.

Table 2: Collar Information

Drill Hole

Easting

Northing

Azimuth (°)

Plunge (°)

Final Depth (m)

21MJ008

427153

7499366

360

45

166.6

21MJ009

427715

7500196

340

72

311.9

21MJ010

428456

7500686

338

70

350.5

21MJ011

427960

7500341

343

45

152.2

Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals.  Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 first crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to a facility in Ireland for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61).

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 includes the insertion of certificated standard material and blanks into the analytical batches, and none of the analytical control samples in these reports showed 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 approves, the technical information in this news release.

Firefox Gold Webinar

The Company is also pleased to announce that President and CEO, Carl Lofberg and Chairman, Patrick Highsmith will be presenting the latest update from the Company's Finland projects in a live webinar taking place on Monday, September 13th, 2021, at 1 p.m. PT / 4 p.m. ET. The webinar will be hosted by Focus Communications Investor Relations (FCIR) and Cory Fleck of the Korelin Economics Report. Participants are encouraged to submit any questions for the company prior to the event by e-mailing FCIR at This email address is being protected from spambots. You need JavaScript enabled to view it..

Event Details

Date:  Monday, September 13th, 2021

Time:  1 p.m. PT/ 4 p.m. ET

Registration:  https://event.webinarjam.com/channel/FFOX

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

CONTACT:

FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 possible new targets for future drill programs; the current and future work program, including the extent and nature of exploration to be conducted in 2021 - 2022 and the potential expansion of the same, and the significance of the most intense alteration and mineralization occurring at depths below previous drilling at the Northeast Target. 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.

 

SODANKYLÄ, FINLAND – (August 24th, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) announces the commencement of systematic mechanized exploration on its 100%-controlled Sarvi Project, which adjoins Rupert Resources’ Area 1 discovery zone. FireFox geologists began ground geophysics during the winter of 2021, followed immediately by mapping and sampling earlier this summer, and they have now escalated work to include: bottom-of-till (BOT) sampling and excavator trenching at high-priority targets on the newly granted exploration permit.

The expansion of work at Sarvi comes immediately on the heels of two permit issuances by the Finnish Safety and Chemicals Agency (Tukes). This level of permit allows mechanized exploration, including drilling. The applications for exploration permits at the Sarvi and Lehto properties were made in November 2019 after preliminary interpretations of regional data and reconnaissance traverses yielded several attractive targets warranting follow-up. The Sarvi permit encompasses 944 hectares and is accessed via all-season secondary roads from the Sodankylä – Kittilä highway. The Lehto permit covers approximately 494 hectares and is also accessible by road. There remain several FireFox permit applications surrounding Sarvi, and new reservations farther north tie the area together into a very large holding (See Figure 1 below).

Carl Löfberg, FireFox’s President and CEO, commented on the significance of the Sarvi Project, “The granting of the exploration permit at Sarvi marks our fourth drill-ready project, and the team is already hard at work confirming and expanding upon several prospects. Sarvi hosts an attractive interaction of multiple episodes of structure with favorable host rocks. We are very excited to deploy our teams with drills and excavators to investigate the several gold and arsenic anomalies we have been developing. We expect to finalize initial targets and commence core drilling at Sarvi by November.”

Summary of Sarvi and Lehto Properties

The Sarvi and Lehto properties are key parts of the Company’s large Northern Group land package in the eastern succession of the Kittilä Suite mafic volcanic rocks. Both properties are subject to the Seuru Option agreement with Magnus Minerals (See Company news release dated August 30, 2018), and FireFox expects to vest in 100% equity under the agreement early in 2022.

In August 2020, FireFox completed a detailed unmanned airborne vehicle (UAV) magnetic survey over the Sarvi Project. Integrating these data with other regional surveys and data from the Geological Survey of Finland (GTK), FireFox interpreted several possible NW-SE trending structures intersecting E-W and NE-SE structures that are believed to be older. The youngest major event in this area may be the prolific D3 structures that appear to control much of the gold in the Central Lapland Gold Belt (CLGB), but additional work is required to confirm this. Several gold and arsenic anomalies at Sarvi are related to the northwest trending faults. Similar structural trends have been reported by Rupert Resources across Area 1 and in particular at the Ikkari Discovery, which lies only 5km south of the tenement boundary.

FireFox cautions that proximity to a discovery or mineral resource, does not ensure 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.

In early 2021, FireFox augmented the already-extensive magnetics data at Sarvi with a detailed ground magnetic survey on 50-metre line spacing. This detailed approach to magnetics has led to drilling success at the Company’s Mustajärvi Gold Project, where the fine-scale magnetic lows have proven to host high-grade vein systems. FireFox geologists believe that detailed ground geophysical surveys play an important role in focusing upcoming BOT sampling, trenching, and diamond drilling where glacially-deposited sediments cover the bedrock.

Figure 1. Location Map of New Exploration Permits at Sarvi and Lehto

figure 1

While FireFox’s structural model is evolving, the intersection of D3 or D4 with earlier brittle faulting has led to numerous discoveries in the CLGB. Till sampling and prospecting at Sarvi have already identified gold and arsenic anomalies, most of which are associated with interpreted major faults. Highlights so far include rock chip samples of 1.47 g/t gold and 1.86% copper, and highly anomalous counts of gold micro-nuggets (accompanied by arsenic) in heavy mineral samples and till (See Figure 2 below).

This part of the CLGB is nearly unique in the FireFox portfolio as having an association of very high arsenic with gold in mafic volcanic rocks, without the high bismuth and tellurium that occurs at Mustajärvi and other prospects. This is the geochemical signature of the orogenic gold deposits at the Kittilä Mine, and the presence of graphite-bearing tuff in both areas is also noteworthy. The abundant mafic lithologies that are mapped at Sarvi, including tholeiitic basalt, are encouraging because these rocks can be excellent hosts of gold mineralization due to how they accommodate deformation and react with mineralizing fluids.

FireFox’s fall and winter drill program is to commence in early October. The current plan is to test new targets at Sarvi with a modest sized program starting in November and a second follow-up program in Q1 2022.
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.

Figure 2. Detailed Magnetics and Preliminary Structures at Sarvi Project

figure 2

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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 current and future work program, including the extent and nature of exploration to be conducted in 2020, as well as the planned drilling meterage on the properties described. 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.

SODANKYLÄ, FINLAND – (August 17, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) is pleased to announce that it has extended the drill-indicated gold system by an additional 650 metres along trend from the Northeast Target at its 100%-owned Mustajärvi Project in the Central Lapland Gold Belt of Finland (See Figure 1). Drill hole 21MJ004 was drilled 654 metres northeast of the previously reported bonanza-grade hole 21MJ001 (see Company news release dated June 17, 2021) and yielded 2.9 metres at 1.30 g/t gold. Drill hole 21MJ005, which was collared 580 metres from 21MJ001, returned 3.79 g/t gold over a 1 metre interval from 15m downhole, sitting atop a wider zone of weakly anomalous gold.

Figure 1. Mustajärvi Drill Holes and Targets

figure 1

Key Implications from the Newest Mustajärvi Results Include:

  • New gold mineralization revealed along the probable continuation of the shear zone delineates a stretch of more than 2.1 kilometers with gold-bearing drill intercepts;
  • Quartz-carbonate-tourmaline-pyrite veins at new East Target are lower grade (so far) but consistent in mineralogy and geochemistry with high grade veins at Central Zone & Northeast Targets;
  • The veins have variable continuity, but the larger and more sulfide-rich veins have been intersected in four drill holes (21MJ001, 21MJ002, 21MJ006, and 21MJ010) and appear to become higher grade with depth;
  • Predictive 3D modeling of dilational jogs along the Mustajärvi Shear Zone continues to yield altered country rock and significant gold in drilling, even while exploring beneath overburden; and
  • Geophysics and 3D modeling of the results indicate multiple untested targets in the vicinity of the Northeast and East Targets – another sizable drill program is planned for winter of 2021 – 2022.

“These two holes were the first to test for mineralization in this newly modeled part of the shear zone, so we are very excited to confirm new gold intercepts with similar alteration, vein mineralogy, and geochemistry to the established high-grade areas in the Central Zone and the Northeast Target. These first gold hits at the East Target are important because we know that persistence and hard work yielded bonanza grade intercepts at both the Central and Northeast Targets. Adding these new targets to the close step-outs planned around 21MJ001, we have some incredible targets lined up for the fall and winter drill program, which is fully funded,” commented Carl Löfberg, President and CEO of FireFox.

In addition to the East Target holes, drill hole 21MJ006 was collared 170 metres northwest from 21MJ001, along the same drill section of the Northeast Target. It appears to have been successful in intersecting the lower grade up-dip continuation of the vein system that contained the bonanza grade, here averaging 3.0 metres of 1.31 g/t gold. Also reported herein is hole 21MJ007, which targeted interpreted structures within the gabbro on the western end of the property, but for which no significant gold results were received.

The individual veins encountered in the northeast part of the project have variable continuity, but some have been intersected along strike for more than 70 metres. The vein system hosting bonanza-grade gold that was intercepted in 21MJ001 also appears to have been intercepted down-dip in 21MJ010 (for which assays are pending). These gold-bearing veins occur in swarms with potential for expansion along strike and at depth. In addition to 21MJ010, analytical results and geological interpretations are pending for three additional holes, 21MJ008, 21MJ009 and 21MJ011.

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometers east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. The Sodankylä Group rocks, which are primarily to the north of the shear zone in the footwall and host most of the known mineralization, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite – sericite alteration in the footwall along more than two kilometers of the structure. The project remains at an early stage as FireFox and predecessor companies have drilled less than 7,000 metres to date.

FireFox has developed a structural model that has identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. The main areas of mineralization, so far, are the Central Zone and the Northeast Target, both of which host bonanza grade gold associated with clusters of veins in the footwall of the shear zone but are separated by more than 500 metres. Including drill intercepts southwest of the Central Zone and extending through the Northeast Target, the MSZ hosts high-grade (>5 g/t) gold in arrays of narrow quartz veins along a corridor of more than 1.5 kilometers. The FireFox team predicted another dilatant zone with similar characteristics 500 to 600 metres farther northeast from the Northeast Target (See Figure 2). Drill holes 21MJ004 and 21MJ005 were the first holes to test this area and the results confirm this zone as a new and additional zone of gold mineralization (the East Target) – extending the favorable trend to more than 2.1 kilometers.

Figure 2. Mustajärvi Structural Interpretation

figure 2

The Central Zone and Northeast Target have been tested by several programs since 2018 that have expanded the lateral extent of known mineralization in multiple directions. The Northeast Target returned the best intercepts in both the 2019 and 2020 drill programs, including bonanza grades in the first hole of this Phase 4 program. The initial success at the East Target has prompted planning for considerable new work.

Drill hole 21MJ004 was collared in a structural block interpreted to host the continuation of the MSZ and was directed to the northwest. The hole appears to initiate in Sodankylä Group metasedimentary rocks, variably altered intermediate tuffites, and did not pass through a major lithologic contact with mafic volcanics. The gold mineralization was hosted within an intensively deformed interval that included abundant hematite and quartz-carbonate-tourmaline-pyrite (QCTP) veining at 150.35 to 153.25 metres down hole. The 2.9-metre interval averaged 1.30 g/t gold with a few additional metres of weakly anomalous gold below. There are also several broader intervals of weakly anomalous gold higher up in the hole. The veins encountered in drill hole 21MJ004 have a similar composition to the QCTP veins noted in the Northeast Target, but hematite is notably more abundant at the East Target.

Hole 21MJ005 was collared very close to an interpreted trace of the shear zone. The hole intercepted shallow mineralization within intensively altered intermediate tuffites, where the highest gold grades were encountered at 15 to 16 metres down hole, yielding 3.79 g/t gold. Elevated gold values expanded the anomalous zone down hole to 28.4 metres, including several samples with 0.32 to 0.75 g/t Au. The shallow mineralization encountered in hole 21MJ005 was associated with breccias and QCTP veins and abundant hematite.

Drill hole 21MJ006 was drilled along the same northwest drill fence that includes 21MJ001 and 21MJ010. It was targeted on a base of till (BOT) gold anomaly and expected to test for the up-dip continuation of the vein system with visible gold reported in 21MJ001. The hole intercepted a 3-metre interval of thin QCTP veins at the approximate location where the bonanza vein was projected to occur. This 3-metre zone from 56 to 59 metres downhole averaged 1.31 g/t gold. There are numerous other narrow quartz-carbonate and quartz-tourmaline veins cutting through the altered tuffites in this hole associated with several intervals of weakly anomalous gold, including samples with 0.32 to 0.69 g/t.

Drillhole 21MJ007 was one of the first drill tests of geochemical and geophysical anomalies associated with the gabbro near the west end of the property. It was collared more than 1.5 kilometers west of the Northeast Target. While no significant gold has been encountered yet in the gabbro, the lower third of the hole encountered pervasive strong albitization.

FireFox geologists report that the three zones now known to host significant gold at Mustajärvi are quite comparable in their lithology, alteration, vein mineralogy, geochemisty, and their structural architecture. The interpreted dilational jogs correlate well with magnetic lows (Figure 2), and it is noteworthy that the strongest magnetic lows in the East Target (northeast of 21MJ004) have not yet been tested. A preliminary mineralogical report on the Northeast and East Target gold intercepts reveals that gold occurs both as free gold and as inclusions in pyrite and hematite. The Mustajärvi gold system continues to be consistently enriched in bismuth, tellurium, and cobalt, but the ongoing data compilation is highlighting many other geochemical features that may be useful pathfinder elements to help vector towards stronger gold mineralization. The team is also planning an induced polarization/resistivity (IP) survey over the Northeast and East Targets, as the pyrite-rich mineralization should generate strong anomalies. Combined with mapping and three-dimensional modeling, the new data are expected to yield more strong drill targets for the fall and winter drilling.

The table below summarizes the location information for these drill holes.

Table 1: Collar Information

Drill Hole

Easting

Northing

Azimuth

(°)

Plunge

(°)

Final Depth (m)

21MJ004

429026.0

7500993.2

335

45

211.9

21MJ005

428849.7

7501105.8

333

45

120.5

21MJ006

428416.6

7500790.2

340

45

123.9

21MJ007

427193.3

7499874.2

345

45

200.1

 

Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 first crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to a facility in Ireland for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61).

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 includes the insertion of certificated standard material and blanks into the analytical batches, and none of the analytical control samples in these reports showed 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 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

CONTACT:

FireFox Gold Corp.

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

 

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: the receipt of the assay results, 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 geophysics and drilling, expectations for the receipt of assays on samples already submitted to the lab; the belief as to the location of the most prospective gold targets; the location of possible new targets for the 2021 - 2022 drill program; the current and future work program, including the extent and nature of exploration to be conducted in 2021 - 2022; and the potential expansion of the same and the significance of the most intense mineralization occurring at depths below previous drilling at the Northeast Target. 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.

SODANKYLÄ, FINLAND – (Aug 3, 2021) – FireFox Gold Corp. (TSX.V: FFOX) (OTCQB: FFOXF) (“FireFox” or the “Company”) recently completed a three-hole reconnaissance diamond drill program at the Saittavaara Prospect on its 100%-owned Jeesiö Project in Lapland. Saittavaara is a prospect near the southern boundary of Jeesiö, along the highway from Sodankylä to Kittilä (Figure 1: https://bit.ly/3rKZg4g). These three holes, totaling 309.1 metres, are the first known drilling in the area by any operator. Two of the three holes encountered gold mineralization of more than 0.9 grams per tonne (g/t). Drill hole 21JE002 intercepted a near-surface zone of 4.0m averaging 2.03 g/t Au, including 2.0m at 3.18 g/t Au.

Confirming gold in bedrock with the first shallow drill holes in the area is significant because it highlights the potential of the untested anomalies farther north on this trend (Figure 2: https://bit.ly/3jpOMnp). There are numerous higher-grade gold bearing rock chip samples associated with D3 and D4 structures farther northeast from the initial Saittavaara occurrence.

Carl Löfberg, FireFox’s President & CEO, explained the significance of FireFox’s new results, “The drilling at Saittavaara during May 2021 was simple and efficient, easily accomplished during a short break from the Mustajärvi program. In previous programs our geologists sampled a lot of gold in veins and boulders at Saittavaara and Katajavaara. Drilling into this zone of quartz-sericite-pyrite alteration with 3.0 g/t gold mineralization is very encouraging as we follow the major structures and geophysical targets along trend towards Katajavaara. It is exciting to confirm a second project now with significant gold in drill holes, only a short drive down the highway from Mustajärvi.”

Target Development at Saittavaara

The area is believed to lie within highly deformed metasedimentary rocks that are cut by later D3 and D4 shear zones. Rejuvenated interest in the area came from the last FireFox sampling campaign of 2019 that returned 6.4 g/t Au from a boulder at Katajavaara (approximately 2 kilometres north of the Saittavaara occurrence).

The prospectivity of Saittavaara was enhanced by results from reconnaissance mapping and sampling during 2020 that returned rock chip samples of 2.60 and 2.75 g/t Au from angular quartz boulders and outcrop with significant iron staining and fresh pyrite. Saittavaara is the southernmost of three prospects in a belt spanning approximately three kilometres, where rock samples returned highly anomalous gold values from 0.2 to 10.5 g/t (“the Kataja Belt”) (See Company news release dated October 6, 2020). The anomalies at Saittavaara are part of a structural corridor trending northeast towards the higher-grade gold samples at Katajavaara. In addition, these prospects are situated only a few kilometers from the high-grade gold reported at Aurion Resources’ Launi Prospect.

FireFox cautions that proximity or similar geology to another prospect or mine 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.

FireFox’s high-resolution airborne magnetics survey further heightened interest as the team noted apparent lithologic contacts with structurally controlled magnetic lows. The FireFox teams moved forward with additional geophysics and plans to test the surface gold sampling with a reconnaissance drill program in Spring 2021.

During late 2020, FireFox commissioned a small-scale 2D pole-dipole gradient array induced polarization/resistivity (IP) survey with GRM Services. The single-line IP survey was a trial to investigate if the gold samples at surface had roots in outcrop. The data showed a near‐surface high-resistivity, high-chargeability feature that corresponded well with the pyrite-bearing quartz veins and silicified sediments that hosted the gold in sampling. The survey also suggested the presence of deeper anomalies in the area, but the design of the test survey was insufficient to resolve the deeper targets for drilling. Firefox intends to expand the IP survey over more of the mineralized trend later in 2021.

Drill Program Details

FireFox’s 2021 drill program directed three shallow reconnaissance drill holes at the gold in rock samples and geophysical anomalies at Saittavaara. The drill sites are on high ground in a boulder field close to the highway. Since FireFox has a permit application pending over the Kataja Belt, the team proceeded with this small-scale drill program after securing permission from the surface landowners, in accordance with common practice in Finland. The Company reports that much more work is expected to follow-up on this drilling and to test the additional gold anomalies from rock sampling.

Drill hole 21JEE002 intersected intensively sheared and sericitized quartzite from just below shallow overburden. There are several quartz veins with strongly sheared and silicified wall rock. Geologists have described the zone of intense shearing and obvious deformation as a mylonite. The mylonite zone continues from near-surface to approximately 18m downhole depth. As disseminated pyrite is prevalent but variable, the alteration may be termed quartz-sericite-pyrite (QSP), which is commonly seen in orogenic gold deposits. A massive to milky quartz zone with disseminated pyrite between 11 and 17 metres downhole carries the best gold grades, averaging 1.48 g/t over its entirety. The siliceous interval continues downhole to 84.2m, including additional narrow zones of more intense QSP alteration at 25.0m and 66.0m depth with gold values of 1.05 and 0.527 g/t, respectively. Pyrite is most abundant in the shallower higher-grade interval. At approximately 84.2m the mylonite zone passes into an unaltered greywacke unit.

Table 1: Summary of Significant Intercepts from Drill Hole 21JEE002 (Cutoff grade of 0.5 g/t Au)

Drill HoleFrom
(m)
To
(m)
Interval*
(m)
Gold
(g/t)
21JEE002 13 17 4 2.03
Including 14 16 2 3.18
  25 26 1 1.06

* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modeling.

Drill hole 21JEE001 was drilled west towards 21JEE002 in a scissor fashion since the orientations of the quartz veins and structures in the area were not known. It encountered similar lithology including QSP-altered and veined quartzites from surface to approximately 37m depth downhole. The drill hole intersected several quartz veins with more abundant pyrite down to approximately 14.40m. The best gold mineralization was associated with multiple quartz-pyrite (oxidized) veins over approximately 4 metres from 25.0 to 29.0m downhole, including one metre that assayed 0.96 g/t Au. The quartzite gives way to weakly silicified graywacke sediments at approximately 37m downhole.

Drill hole 21JEE003 was collared approximately 500 metres northeast of the first two holes. It encountered a narrow mylonite zone near surface, but consisted mainly of unaltered greywacke from 9.0 to 98.35m downhole, followed by a mafic intrusion with patchy quartz-carbonate veins to the end of the hole. There were no significant gold assays returned.

Table 2: Collar Information (coordinates presented in EPSG:3067)

 

Drill HoleEastingNorthingAzimuth
(°)
Plunge
(°)
Final Depth
(m)
21JEE001 470013 7478248 270 45 106.8
21JEE002 469953 7478242 90 45 97.6
21JEE003 470436 7478520 90 45 104.7

Structural Interpretation

The FireFox technical team has conducted a preliminary structural interpretation from magnetics and other data across the Jeesiö Project (Figure 2), and more specifically around the Kataja Belt. Geologists note at least two major structural fabrics based on the data so far, including: D3 deformation with a north to northeast trend, and D4 deformation indicative of regional strain oriented NW-SE. The magnetics data reflect likely transform faulting (D4) of the earlier shear zones (D3).

The significance of D3 structures has been frequently discussed by FireFox and other Lapland explorers, as they are well-known to host the economic gold mineralization in the northern part of the Central Lapland Gold Belt at Agnico Eagle´s Kittilä Mine. The Kittilä Mine is hosted along the NE-striking Kiistala Fault, an important early thrust fault that was likely reactivated by later D3 shearing.

Both D3 and D4 structures can be observed in the Kataja Belt, however the limited outcrop means it is not yet possible to relate the structural fabric or vein orientations measured at Saittavaara to the numerous other gold anomalies and emerging targets in the area. Further bedrock mapping and structural geology work are in progress.

Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 collection of field duplicates and insertion of certified reference materials and blank samples into the laboratory submittals.

FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were first 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). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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.

No QA/QC issues were identified from a review of the analytical data with this drilling.

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
CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 follow-up drilling; plans to review the future modeling and exploration program in light of the results disclosed herein; the belief as to the location of the most prospective gold targets; the location of possible new targets for the next drill program; and the current and future work program, including the extent and nature of exploration to be conducted in 2021. 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.

 

 

 

SODANKYLÄ, FINLAND – (June 17, 2021) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox” or the “Company”) has completed the expanded 11 hole Phase 4 diamond drill program (2,364 metres) at its 100%-owned Mustajärvi Project in the Central Lapland Greenstone Belt of Finland. Today the Company reports assay results for the first three holes of the program. Hole 21MJ001 is a significant highlight yielding 1.35m averaging 93.88 g/t gold, including 0.65m at 129.5 g/t gold. This interval was previously reported to host visible gold in a quartz-carbonate-tourmaline (QCT) vein with abundant pyrite (see Company news release dated April. 15, 2021). With the two additional high-grade gold intervals of 5.27 g/t and 26.9 g/t, this drill hole included a total of more than 150 gram – metres of gold.

Near surface high-grade intervals were encountered in both of the first two holes of the program, as shown in Table 1. These drill holes extend high-grade gold in the Northeast Target by an additional 150 metres along strike to the northeast (See Figure 1: https://bit.ly/3cLi1OX). This newly discovered veining and alteration occurs at depths less than 200m below surface and remains open down dip and to the northeast (See Figure 2: https://bit.ly/3pZvCYi). The FireFox team is anxious to follow up with closely spaced drilling to test this new high-grade zone, the richest yet discovered at Mustajärvi.

“Since 2018 we have methodically built up our knowledge of the geology and structure, vectoring towards the heart of this high-grade gold at Mustajärvi. Our modeling is clearly paying off, and we are thrilled that the initial hole in the 2021 drill program has resulted in the first 100-gram-metre interval at the project. The Northeast Target is proving to be very exciting, and we look forward to results from the remaining two holes in this area, as well as the step-outs farther northeast along the shear zone,” commented Carl Löfberg, President and CEO of FireFox.

Table 1: Summary of Significant High-Grade (>4.0 g/t Au) Drill Intercepts

Drill Hole

From (m)

To

(m)

Interval*

(m)

Gold

(g/t)

21MJ001

172.90

174.15

1.25

5.27**

 

184.15

185.50

1.35

93.88**

including

184.15

184.85

0.70

60.8**

and

184.85

185.50

0.65

129.5**

 

220.35

221

0.65

26.9

 

21MJ002

139.5

141.5

1.00

13.27

 

161.9

163.6

1.70

11.16

* Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modeling.

** Based on the presence of visible gold in the drill core, these intervals were subjected to a 1,000 gram screen fire assay protocol designed to capture coarse gold.

Upon completion of this 11-hole drill program, FireFox has now drilled approximately 6,250 metres at Mustajärvi, emphasizing the still-early stage of technical work on this project that has consistently yielded near-surface intercepts of gold above 10 g/t. The Central Zone was the site of approximately 700 metres of shallow drilling by Outokumpu in the 1990s, which yielded numerous historic intercepts of more than 10 g/t (See the Company’s NI 43-101 technical report on Mustajärvi at www.firefoxgold.com or on SEDAR). There was also very small-scale exploitation of gold from a pit in the Central Zone. FireFox reported rock chip results from the pit area that included 10 samples assaying more than 10 g/t gold, including one sample with 140.5 g/t gold (See Company news release dated Jan 3, 2019).

The strongest mineralization along the Mustajärvi Shear Zone can be shown to plunge gently to the northeast from the surface outcrop in the Central Zone. The system has not yet been tested below 200 metres vertically below surface. Gold mineralization is believed to occur in zones of dilatancy along host structures and/or subject to other controls on gold precipitation. FireFox’s evolving structural model, combined with the growing database of geological details and multielement geochemistry, is improving the team’s understanding of the veins and alteration zones. Important next steps will include tight step-out holes around this new 150 gram-metre drill hole.

Mustajärvi Project and Drill Program Details

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometers east of Kittilä. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. FireFox has developed a structural model that has identified dilatant zones along the major structure where higher grade gold is concentrated (See Figure 3: https://bit.ly/3cM1NoL).

During the 2019 and 2020 seasons, exploration drilling at the project advanced to the northeast from the Central Zone to the Northeast Target, more than 500 metres along the shear zone, based on geophysical data and gold in bottom-of-till (BOT) sampling. These zones host high-grade (>4 g/t) gold in narrow quartz veins along more than 1.5 kilometres of the hydrothermally altered shear zone from the southwest to northeast. The Northeast Target returned the best intercepts in both the 2019 and 2020 drill programs. Holes 21MJ001 to 21MJ003, reported here, are in the Northeast Target area.

The Phase 4 program targeted the brittle altered metasediments in the footwall of the shear zone. The individual veins appear to have variable continuity, but some have been intersected along strike for more than 70 metres. The highest-grade vein intercepted in 21MJ001 appears to have been intercepted in 21MJ010 (for which assays are pending), and the vein remains open to depth and along strike (See Figure 2). These veins seem to occur in clusters with potential for expansion along strike and at depth. Analytical results and geological interpretations are pending for eight additional holes, 21MJ004 to 21MJ011.

Drill holes 21MJ001 and 21MJ002 were planned to test the continuation of the vein system intercepted in drill hole 20MJ009, which returned 2.0m at 33.25 g/t Au (see Company news release dated Jan. 27, 2021). Drill hole 21MJ001 is 155 metres ENE from 20MJ009 and drill hole 21MJ002 is approximately midway between the two holes (83m ENE from 20MJ009). Drill hole 21MJ003 was aimed at the western side of the Northeast Target area and did not intersect significant veining or gold mineralization (See Table 2).

Table 2: Collar Information (coordinates presented in EPSG:3067)

Drill Hole

Easting

Northing

Azimuth

(°)

Plunge

(°)

Final Depth (m)

21MJ001

428479.7

7500633.6

340

45

292.60

21MJ002

428410.2

7500615.8

343

45

240.8

21MJ003

428174.5

7500533.7

338

45

193.0

Each of the drill holes reported here passed through the Savukoski Group ultramafic-mafic volcanics and across the contact into strongly altered Sodankylä Group metasediments and metavolcanics. The strongest mineralization to date at Mustajärvi has occurred in the footwall Sodankylä Group rocks, which are to the north of the shear zone. In this area, the Sodankylä Group includes metamorphosed sedimentary and volcaniclastic rocks. Along the alteration zone associated with the shear zone, these rocks have been made brittle by pre-gold pervasive alteration, including albite, silica, and sericite. Where these altered rocks are shattered, brecciated, and veined, high grade veins have been reported.

In drill hole 21MJ001, the targeted volcano-sedimentary series was encountered at approximately 104m down hole and continued to the termination of the hole at 292.6m. This section of rocks is pervasively altered with moderate to high intensity of albite, silica, and sericite. The altered rock sequence is cut throughout its width by QCT veins, quartz tourmaline, and quartz veins that contain semi-massive to massive zones of pyrite over narrow widths. There are additional sulfide, or possibly tellurium and bismuth-bearing minerals (not yet confirmed), that are common in the most intensely mineralized rocks. Gold correlates strongly with the presence of pyrite and other sulfide, sulfosalt, or bismuth-tellurium bearing minerals. Intense sericitic alteration with disseminated pyrite and narrow quartz tourmaline veins (up to 1cm) can be observed deeper in the hole. All the high-grade gold intercepts in this area are low in arsenic but high in bismuth and tellurium.

Drill hole 21MJ001 intersected several gold mineralized intervals, with the highest-grade interval occurring at 184.5 metres downhole depth in a pyrite rich, brecciated and complex quartz-tourmaline pyrite vein. Visible gold was observed within this quartz-tourmaline-carbonate vein at 185.4-185.5 m. (see Figure 2). It should be noted that multiple zones of low-grade anomalous gold occur throughout the altered rocks in this hole, sometimes spanning 10 to 12m and including a single interval of 1.68 g/t gold.

The best interval in hole 21MJ002 occurred at 161.9 metres downhole, grading 1.7m averaging 11.16 g/t gold. This intercept was hosted within strongly albitized metasediments, which were brecciated by several quartz-tourmaline-pyrite veins. There is another narrow high-grade interval at 139.5m depth, which contained 1.0m at 13.27 g/t gold. The larger of these two mineralized veins appear to align with the highest grade intercept in 21MJ001 and may indicate continuity of the veining over that 72m intervening distance. 21MJ002 also included several zones of low-grade anomalous gold over 15 to 20m and including isolated samples of 1.35 and 3.3 g/t gold.

Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. 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 first 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). Gold values which exceeded 10 ppm were assayed in triplicate by fire assay with a gravimetric finish (method Au-GRA22, Au-GRA22d and Au-GRA22t). Selected samples were assayed with a 1,000 gram Au-SCR24 method (screen fire assays) based on the presence of visible gold. Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

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.

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

CONTACT:

FireFox Gold Corp.

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Telephone: +1-778-244-8439

 

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: the receipt of the assay results, 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 follow-up drilling around the new intercepts; the expectation for receipt of assays on drill holes already completed, sampled, and submitted to the lab; plans to review the future modeling and exploration program in light of the results disclosed herein; the belief as to the location of the most prospective gold targets; the location of possible new targets for the next drill program; the current and future work program, including the extent and nature of exploration to be conducted in 2021; and the potential expansion of the same and the significance of the most intense mineralization occurring at depths below previous drilling at the Northeast Target. 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.

VANCOUVER, BC – June 14, 2021 – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)("FireFox" or the “Company”) is pleased to announce that it has received final approval to list on the OTC Markets Group's OTCQB Venture Market in the United States under the symbol “FFOXF”. FireFox will commence trading on the OTCQB on June 15, 2021 with 99,117,263 shares outstanding, while continuing to trade on its home exchange in Canada, the TSX Venture Exchange. FireFox is a gold exploration company at the forefront of the new gold rush in northern Finland.

Patrick Highsmith, FireFox’s Chairman, commented, “We are excited to upgrade onto the OTCQB Venture Market in the United States, bringing the compelling FireFox story to an even broader audience of institutional and retail investors. It is an added benefit to increase our visibility in the United States since our largest shareholder, Crescat Capital, is based in Denver, Colorado.”

The OTCQB is recognized as an established public financial market for international companies to trade in the United States through a quality investment experience. The OTCQB Venture Market offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base on an established public market. The OTCQB offers transparent trading in early stage firms, such as exploration companies, while ensuring that listed businesses must pass background checks, meet certain minimum reporting requirements, and undergo annual verification.

About FireFox Gold Corp.

FireFox Gold Corp is focused on gold exploration in Finland, where it is advancing 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

CONTACT:

FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding the ability of the Company to close the Offering, the anticipated terms of the Offering, the anticipated use of proceeds from the Offering, the anticipated size of the lead order, and the proposed timing of the Offering are "forward-looking statements". Forward-looking information can be identified by the use of words such as “will” or “believe” or variations of such words or statements that certain actions, events or results “will” be taken, occur or be achieved. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because FireFox can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from FireFox’s expectations.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, FireFox disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, FireFox undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC – (April 30, 2021) – FireFox Gold Corp. (TSX.V:FFOX)(“FireFox” or the “Company”) announces that effective today, subject to regulatory acceptance, it has completed the non-brokered private placement (the “Private Placement”) announced on April 8, 2021 ($2.0M) and subsequently increased to $3.0M on April 22, 2021.

The Private Placement raised total gross proceeds of $3,000,000 by issuing 16,666,664 units at a purchase price of $0.18 per unit. Each unit consists of one common share of the Company and one half of 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$0.27 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.

The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox’s gold exploration properties in Finland.

M Partners Inc. and other firms acted as finders in this placement. In association with this financing, subject to TSX-V acceptance, the Company will pay to qualified finders $67,533 in cash finder’s fees and will issue 312,655 finders warrants exercisable at $0.18 for 2 years from the date of issuance. 

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company is focused entirely on gold exploration in Finland where it is exploring its 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 concerning the Company, please refer to the Company’s 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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1 778-244-8439

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 expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2021. 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Not for distribution to United States news wire services or for dissemination in the United States.

VANCOUVER, BC - April 22, 2021 – FireFox Gold Corp. (TSX.V: FFOX) ("FireFox" or the “Company”) is pleased to announce that, due to strong investor demand, it has increased its previously announced non-brokered private placement to 16,666,666 units of the Company (“Units”) at a price of $0.18 per Unit for gross proceeds of approximately $3.0 million (the “Offering”). Each Unit consists of one common share of the Company (“Common Share”) and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant being exercisable to acquire one Common Share (a “Warrant Share”) at an exercise price of $0.27 per Warrant Share for a term of two years following the closing of the Offering.

FireFox is also pleased to announce that Tin International AG, a subsidiary of the Duetsche Rohstoff Group, has increased their previously announced lead order up to 4,444,444 Units or $800,000.  Upon closing of the Offering, Tin International AG is expected to own approximately 4.5% of the issued and outstanding shares of FireFox.

The proceeds of the Offering will be used for general working capital and exploration activities on FireFox’s gold exploration properties in Finland.  Prior to the Offering, FireFox has 81.8 million Common Shares outstanding, as well as 33.2 million warrants and 6.6. million options to acquire Common Shares outstanding.  

The Offering is expected to close on or about April 27, 2021. All securities issued pursuant to the Offering shall be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.  For further details relating to the Offering please refer to the Company’s news release dated April 8, 2021.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding the ability of the Company to close the Offering, the anticipated terms of the Offering, the anticipated use of proceeds from the Offering, the anticipated size of the lead order, and the proposed timing of the Offering are "forward-looking statements". Forward-looking information can be identified by the use of words such as “will” or “believe” or variations of such words or statements that certain actions, events or results “will” be taken, occur or be achieved. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because FireFox can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from FireFox’s expectations.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, FireFox disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, FireFox undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SODANKYLÄ, FINLAND – (April 15, 2021) – FireFox Gold Corp. (TSX.V: FFOX) (“FireFox” or the “Company”) is pleased to report that it has encountered coarse visible gold (VG) in the first drill hole of a newly commenced phase 4 diamond drilling program at its 100%-owned Mustajärvi Gold Project in the Central Lapland Greenstone Belt of northern Finland. The visible gold occurs as six discrete flakes (up to 1.0mm across) in a quartz-carbonate-tourmaline vein (QCT vein) within a 32-metre-wide zone of variably veined and altered metasedimentary rocks. The drill core is being logged and prepared for sampling, so no assays are available yet to confirm the quantity or extent of gold in the drill hole.

FireFox has reported numerous drill intercepts of relatively narrow high-grade gold mineralization (as shown in Table 1) at the Mustajärvi Project since its first drill program in 2018, but this is the first visible gold reported by FireFox geologists at the project. Drill hole 21MJ001 is a significant step-out (150 metres) to the northeast from a recently reported high-grade intersection in drill hole 20MJ009 (2.0m at 33.25 g/t gold, see Company news release dated January 27, 2021) (see Figure 1: https://bit.ly/3uQyuYF ).

Highlights:

  • Hole 21MJ001 intercepted visible gold (at least six discrete flakes up to 1.0mm across) at a depth of approximately 185.5m downhole (see Figure 2: https://bit.ly/32guK6w)
  • The VG occurs in a 1.4 metre (m) section of QCT-veins from 184.2 to 185.6m depth
  • QCT veins also host the high-grade gold mineralization previously reported in drill holes 20MJ009, 19MJ006, and others in the Central Zone
  • There are several QCT veins of variable thickness within altered metamorphosed sedimentary and volcaniclastic rocks from 165.6m to the end of this hole at 199.4m downhole (see Figure 3: https://bit.ly/3adj2Of)
  • This hole is a step-out of approximately 150m from drill hole 20MJ009 along the northeast trending Mustajärvi Shear Zone
  • Drill hole 21MJ001 was completed in the early hours of April 11, 2021, so assays have not yet been completed to confirm the quantity or extent of gold in the drill core

“We are very excited to report the first visible gold from drilling at the Mustajärvi Project. The new drilling has encountered significant zones of intense alteration and veining along trend but beyond the extents of previous drilling,” commented Carl Löfberg, President and CEO of FireFox. “In light of this favorable geology, we shall move quickly to secure assays on these samples and to carefully consider our plans for the current drill program.”

Preliminary Geologic Details of Drill Hole

The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometers east of Kittilä. The project remains in the early stages of exploration, having only seen approximately 4,170m of drilling by FireFox since 2018. The property straddles the Mustajärvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures which further dissect the project into separate structural zones. FireFox has developed a structural model that has identified dilatant zones along the major structure where higher grade gold is concentrated. Company geologists believe that the most prospective gold targets are in the Sodankylä Group metasedimentary rocks, which are to the north of the shear zone in the footwall. In this area, the Sodankylä Group includes metamorphosed sedimentary and volcaniclastic rocks. At Mustajärvi, the most quartz-rich portions of these rocks have become brittle due to pre-gold pervasive alteration with silica and albite, and host higher-grade gold where they have been shattered, brecciated, and veined.    

The 2021 drill program is targeting the brittle rocks in these interpreted dilatant zones at the Northeast Target, the Central Zone with its historic surface workings, and possibly at new targets farther to the northeast and southwest. These high-grade gold (>5 g/t) pods are known to occur along a distance of more than 1.5 kilometres of the hydrothermally altered shear zone from the southwest to northeast on the project. The sparsely drilled Northeast Target is one of these pods, and the area returned the best intercepts in both the 2019 and 2020 drill programs (see Table 1). The current Phase 4 drilling program was planned to include approximately 1,400 metres of diamond core drilling, but the program may be expanded. The first hole, 21MJ001, is in the Northeast Target area, approximately 150m northeast from drill hole 20MJ009, and nearly 750m from the Central Zone of gold mineralization.  

Table 1: Highlights of Previous Mustajärvi High-Grade Drill Intercepts

Drill

Hole

Easting

Northing

Azimuth

(°)

Plunge

(°)

Depth

(m)

From

(m)

To

(m)

Interval*

(m)

Gold

(g/t)

Central Zone

18MJ002

427702

7500228

340

45

82.1

34.35

34.7

0.35

11.63

18MJ010

422728

7500162

340

45

154.8

125.5

127.5

2.00

45.05

20MJ008

427716

7500191

340

45

200

97.5

98.0

0.5

11.20

Northeast Zone

19MJ006

428296

7500537

340

45

179

125.75

127.9

1.95**

12.0

 

 

 

 

including

126.25

127.1

0.85

24.7

20MJ009

428335

7500581

340

45

178.5

65.0

67.0

2.0

33.25

 

 

 

 

 

 

146.5

147.0

0.5

9.36

* - Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be
confirmed with additional drilling and geological modeling.

** - Including 0.2m of core loss

Please see the original news releases for additional details: Holes 18MJ002 and 18MJ010 reported January 21, 2019; 19MJ006,
reported January 15, 2020; and 20MJ008 & 20MJ009 reported January 27th, 2021.

In drill hole 21MJ001, the targeted volcano-sedimentary series was encountered at approximately 104m down hole and continued to the termination of the hole at 199.4m. This section of rocks is pervasively altered with moderate to very abundant amounts of silica, albite, sericite, and pyrite. The altered rock sequence is cut throughout its width by QCT veins, quartz tourmaline, and quartz veins that contain abundant to semi-massive and massive zones of pyrite (see Figure 3). There are additional sulfide, or possibly telluride and bismuth-bearing minerals (not yet confirmed), that are common in the most intensely altered and veined rocks. Intense sericitic alteration with disseminated pyrite and narrow quartz tourmaline veins (up to 1cm) can be observed at the bottom of the drill hole.

It may be significant that the most intense mineralization occurs at depths below previous drilling at the Northeast Target. Six individual zones of very well developed tourmaline and pyrite alteration can be distinguished within the albite-sericite altered tuffs and sediments from 172.8-184.2m. Near the top of this zone there is an occurrence of bladed calcite textures in a vein (see Figure 4: https://bit.ly/3uLMbrC). This is often an indication of separation of liquid and vapor phases during vein formation, which may occur in the epizonal portion of orogenic gold deposits.

Visible gold appears as six individual flakes, up to 1.0mm in size, observed on the core surface. These are hosted in a milky-colored carbonate-rich portion of a QCT vein. The vein is 1.4m-thick (184.2 - 185.6m) in total, with an approximately 5cm-wide zone of milky carbonate hosting the VG occurrence. Pyrite is abundant throughout the vein, increasing to semi-massive in places. The VG at 185.5 metres downhole occurs in close proximity to semi-massive pyrite and unconfirmed silver-colored minerals within a QCT vein.

The previous holes in the Northeast Target also hosted high-grade mineralization in quartz tourmaline and QCT veins. However, the altered and veined volcano-sedimentary package encountered in 21MJ001 is interpreted to be stratigraphically below the mineralization encountered in 19MJ006 and 20MJ009. Previous drilling reported brecciated zones in altered metasediments with abundant quartz tourmaline veins and pyrite. FireFox geologists have confirmed that the alteration and veining in the vicinity of the VG occurrence is geologically similar to the previously reported mineralization along the Mustajärvi Shear Zone and at the Northeast Target.

The drill rig has moved to drill hole location 21MJ002 (See Figure 1), which is approximately midway between drill hole 20MJ009 and 21MJ001. Company geologists are working diligently to complete the drill logging and sampling process for 21MJ001 so that samples will be delivered to the lab promptly.  

FireFox cautions the reader that the samples from this new core hole have not yet been assayed. Hence, descriptions of mineralization and comparisons to previously reported mineralized intervals cannot be relied upon. However, the reported visible gold has been visually confirmed by experienced Company geologists, including FireFox’s Exploration Manager and General Manager of Exploration. The team further collaborated closely through a photographic review with senior technical advisors (Dr. Richard Goldfarb and Dr. Quinton Hennigh) and senior geologists on the board of directors (Timo Maki and Patrick Highsmith) who all confirmed the presence of coarse visible gold in the drill core.

Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted geological and geotechnical logging and photographed the core. Company geologists will select and mark sample intervals prior to sawing of drill core and sampling for analysis.  After insertion of quality controls samples into the shipment, the samples will be promptly delivered to an accredited laboratory for gold and multielement analyses.  

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 reviewed and approved all of the geological data and observations disclosed in this news release. The review process included a rigorous analysis of photographs, telephone discussions with geologists on site, and consultation with senior technical advisors to the Company. Mr. Highsmith has visited the Mustajärvi Project and reviewed drill core in person from earlier drill programs. Mr. Highsmith is not independent of the Company, as he owns shares and is a member of the board of directors.     

About the Mustajärvi Gold Project

The Mustajärvi Gold Project (the “Project”) consists of an exploration permit and exploration permit application totaling 2.68 km2. The project area is flat, glacial till-covered terrain in the Lapland region of northern Finland, 17km east of the town of Kittilä, with road and power on the property. The Project is situated in the Central Lapland Greenstone Belt, which hosts several recent gold discoveries. The Project occupies more than two kilometres strike length of the Mustajärvi Shear Zone, which is believed to be a splay of the Venejoki Thrust Zone and related to the Sirkka Thrust Zone, an important host to gold mineralization in the belt.  The observed gold mineralization, structural setting and work to date support the potential for a high-grade orogenic gold deposit on the Mustajärvi property.

For additional details on the Project, please visit the Company’s website www.firefoxgold.com.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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: the receipt of the assay results, 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 move quickly to complete the drill logging and sampling process so that samples will be delivered to the lab promptly so that the Company can secure assays on the samples; plans to review the current drill program in light of the results disclosed herein; the belief as to the location of the most prospective gold targets; the location of possible new targets for the 2021 drill program; the current and future work program, including the extent and nature of exploration to be conducted in 2021; and the potential expansion of the same and the significance of the most intense mineralization occurring at depths below previous drilling at the Northeast Target. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary.

FireFox cautions the reader that the samples from this new core hole are currently being logged and prepared for sampling, so no assays are available yet to confirm the quantity or extent of gold in the drill hole. Hence, descriptions of mineralization and comparisons to previously reported mineralized intervals cannot be relied upon.

Further, although drilling is believed to be perpendicular to the dip of the mineralization,  true widths are not yet known and will be confirmed with additional drilling and geological modeling.

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.

 

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, BC – (April 8, 2021) – FireFox Gold Corp. (TSX.V: FFOX) (“FireFox” or the “Company”) announces that it intends to raise up to $2,000,000 by way of a non-brokered private placement (the “Private Placement”). The Private Placement will consist of up to 11,111,111 units of the Company (“Units”) at a price of $0.18 per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one-half of one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a “Warrant Share”) at an exercise price of $0.27 per Warrant Share for a term of two years following the closing of the Offering.

Tin International AG, a subsidiary of the Deutsche Rohstoff Group, will take part in the financing as a lead order, subscribing for approximately 3,333,333 Units or $600,000. Deutsche Rohstoff is a German natural resource holding company specializing in oil and gas in the United States as well as investment in gold and strategic metals. Upon closing of the Private Placement, Tin International AG is expected to own approximately 3.6% of the issued and outstanding shares of FireFox. 

Carl Löfberg, FireFox’s President and CEO, commented, “We are very pleased to add a quality strategic corporate investor to our shareholder registry, which already includes several very strong institutional gold investors. Together, we continue to execute on our strategy in Lapland, securing a vast land package and continually advancing our projects towards discovery.”

The proceeds of the Private Placement will be used for general working capital and exploration activities on FireFox’s gold exploration properties in Finland. Prior to this financing, FireFox has 81.8 million shares outstanding, 33.2 million warrants, and 6.6 million stock options issued.

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. The Company anticipates that the Private Placement will close on or before April 22, 2021.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 amount and timing of the current financing, current and future work program, including the extent and nature of exploration to be conducted in 2021. 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.

VANCOUVER, BC – (March 10th, 2021) – FireFox Gold Corp. (“FireFox” or the “Company”) reports that recent additions to its exploration tenement holdings have boosted its total holdings related to gold exploration in the Central Lapland Greenstone Belt, Finland (CLGB) to approximately 800 km2. Since the middle of 2020, FireFox has added almost 500 km2 of exploration reservations and permits to its tenure in the CLGB (See Figure 1: https://bit.ly/3cdL3pm).

Important new reservations were granted in late January and early March including Mantovuoma (“Manto”), Paartoselkä (“Paarto”), Kuussatta and Nunara. These most recent additions to the portfolio are significant because of their alignment with major gold-hosting structures and/or their proximity to the Kittilä Mine. The Company has also cemented its control of a huge block of prospective Kittilä Suite volcanic rocks north from Rupert’s Area One discovery around its existing Sarvi and Lehto permit applications.

Carl Löfberg, Chief Executive Officer of FireFox Gold Corp., commented: “The new gold rush in Lapland has resulted in a very tight land situation. The FireFox team has again proven itself to be one of the most nimble local experts in Finnish gold exploration by expanding our portfolio in key target areas. These huge new exploration reservations enable us to expand our strategy by considering strategic partnerships and joint ventures on some properties. We continue to aggressively explore our flagship projects and are looking forward to our core drilling program in April.” 

FireFox has now added substantive new projects that have seen millions of dollars of historical exploration by GTK, Outokumpu, and others. These additions expand upon the Company’s flagship assets at Jeesiö, Sarvi, and Mustajärvi. Many of the key targets at these flagship projects are associated with the Sirkka Shear Zone (SSZ) and its associated splays, whereas most of the additional projects are hosted in the Kittilä Suite volcanic rocks, which host Agnico’s Kittilä Mine. The high-quality Finnish technical databases and drill core archives contain extensive information on most of the new projects, including significant gold showings in historic till sampling and core drilling.  The table below summarizes the most recent additions to FireFox’s portfolio.

Table 1. Recently Granted FireFox Gold Tenements in the Central Lapland Greenstone Belt

Properties

Size (km2)

Date Granted

Lehto 2

23.0

Nov 2020

Kelontekemä

71.1

July 2020

Keulakkopäänrinne

4.8

Sept 2020

Kolho

148.1

Sept 2020

Kuussatta

80.2

Mar 2021

Mantovuoma

87.9

Mar 2021

Nunara

9.5

Jan 2021

Paartoselkä

71.0

Mar 2021

Total

495.6

 

Technical Highlights of Selected New Properties

Most impressive in the new map of FireFox’s CLGB tenements is the large corridor of exploration reservations in between Rupert’s Area One discovery and Agnico’s Kittilä Mine in the north. In addition to the Company’s original Sarvi and Lehto options, the FireFox team has secured 100% control of exploration rights spanning much of the Kittila Suite volcanics and numerous prospective D3 structures.  The new exploration reservations in that area include Kolho, Lehto2, Keulakkopäänrinne (“Keula”) and the recently added Kuussatta and Paarto.   

The huge Kolho Property is particularly important as it occupies a structural corridor dominated by major thrust faults and cross structures, similar to the host structures at Rupert’s Ikkari Discovery and the other Area One Targets.  Kolho itself covers almost 150 km2 and has seen only minor historical exploration, despite FireFox geologists noting significant alteration during its 2020 reconnaissance traverses.

The significant Manto Property approaches from the southwest to within 10km of the Kittilä Mine, and it has seen significant historic exploration and drilling. The Geological Survey of Finland (“GTK”) reports a drill-delineated gold occurrence along the SSZ at Loukinen (included near the southwest limits of the reservation) having an average grade of 0.5 g/t Au. The GTK databases indicates there are a few thousand meters of shallow core drilling on several prospects, including intercepts of more than 1.0 g/t Au. There is also gold in till samples up to 11 g/t associated with a geophysical anomaly in the northwest portion of the property.

The Nunara Property also hosts exciting geology and interesting historical gold anomalies. Much of the property straddles the SSZ and includes the zone where the SSZ intersects with the Venetjärvi Thrust Fault (VTF). That major structural intersection passes through an area of mapped meta-komatiites, ultramafic volcanic rocks known to host significant gold in other orogenic gold systems. In fact, the GTK describes a noteworthy occurrence of listwanite, an unusual carbonate-altered ultramafic rock that is sometimes associated with orogenic gold deposits.  Given the numerous gold and micro-nugget anomalies in the GTK data from this area, FireFox is planning ground geophysics and prospecting along interpreted crossing D3 structures at Nunara.

FireFox cautions that these data should not be relied upon. While the Company believes the data was collected professionally and with industry-standard methods, much of the information is reported from historical workers prior to the advent of Canadian National Instrument 43-101. Further, FireFox acknowledges that proximity or similar geology to an active or past-producing mine 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. These data and facts were simply used as elements of the prospectivity analysis of these properties.

Quality Assurance

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, 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. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes approximately 180,000 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 current and future work program, including the extent and nature of exploration to be conducted in 2021, as well as the planned drilling meterage on the properties described. 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.

VANCOUVER, BC – (March 5th, 2021) – FireFox Gold Corp. (“FireFox” or the “Company”) announces the commencement of a new, detailed, bottom-of-till (BOT) sampling campaign at its 100%-controlled Jeesiö Gold Project in the Central Lapland Greenstone Belt, Finland. The BOT program builds on recently completed reconnaissance drilling, with a focus on testing an important structural corridor that passes through the Utsamo Target. Utsamo is situated between Aurion Resources’ Risti and Launi gold occurrences, and previous field campaigns have returned numerous samples with anomalous gold, including up to 4.6 g/t gold in surface sampling (see FireFox news release dated September 3, 2019).

Carl Löfberg, Chief Executive Officer of FireFox Gold Corp., commented: “Jeesiö is a fantastic project with multiple gold targets in different settings over a huge area. Much of the area in the north of the project is covered with glacial sediments, but where outcrop and boulders occur, we have seen considerable gold. Rupert Resources recently documented that their persistent use of BOT sampling integrated with geophysics led to the new discoveries through glacial cover at Area 1. This detailed survey at Jeesiö will be our first systematic work under the glacial cover in this area, and we look forward to generating priority drill targets from these results.”  

The BOT program, which is expected to continue into April 2021, will aim to test the five-kilometre-long Utsamo Corridor of complex faults and shears that are believed to occupy a flexure in the Sirkka Shear Zone (SSZ). BOT sampling is a shallow, percussion drilling method that allows for sampling below thick overburden in areas of limited outcrop, such as exists at Utsamo. The previous BOT campaign was reconnaissance in nature, comprised of only two parallel sampling lines 2.5 kilometres apart. That work led to shallow drill holes that penetrated a thick section of fault gouge on a likely splay of the SSZ but no significant gold. Firefox will use this BOT campaign to build a more detailed structural map of the Utsamo Corridor with associated gold and alteration.

The program will also test the northwest continuation of the so-called “Hinge Zone” approximately two kilometres southwest of the Utsamo Corridor (see Aurion Resources news release dated December 3rd, 2020). Aurion has encountered high-grade gold in quartz veins associated with the Hinge Zone at Launi. Multiple parallel brittle-ductile faults have been identified passing through the Jeesiö Project, sometimes associated with high-grade gold in rock chips (up to 4.6 g/t). The BOT sampling program will test these structures beneath the glacial cover.

BOT Program Details

The BOT program design includes up to 700 closely spaced sample points in an area where bedrock is covered by an estimated 5 to 30 metres of glacial overburden (See Figure 1: https://bit.ly/3rhDp3f). The basal till and bedrock interface will be targeted using a percussion drill mounted on a tracked vehicle. Company geologists will submit the resulting samples for gold and ultratrace multi-element analyses.

The BOT-sampling lines were planned to test the prospective stratigraphy and structural targets passing through the Utsamo Corridor, which have been prioritized based on geophysical data and previous mapping and drilling, including:

  • Structural intersections, particularly those related to late D3 structures – magnetics and EM;
  • Magnetic lows along structures parallel or sub-parallel to the SSZ;
  • Conductors/apparent resistivity lows and in-phase anomalies; and
  • Other structural trends identified from multiple sources (e.g. Hinge Zone trend).

Jeesiö Reconnaissance Drill Program Review

In the fourth quarter of 2020, FireFox completed a 455-metre reconnaissance drill program in the Utsamo area. The Company targeted the SSZ with four shallow diamond drill holes (20JEE001-20JEE004) in a widely spaced modified fence designed to cut as much of the structural corridor as practical (see Figure 1: https://bit.ly/3rhDp3f). These drill holes did not encounter significant gold mineralization, but there were narrow anomalies in base metals and gold pathfinder elements associated with hydrothermal alteration. The drilling intersected a lithological package consisting of sericite-altered arkosic quartzites interlayered with lesser intermediate tuffites, hypabyssal mafic sills and mafic to ultramafic volcanics.

Drill hole 20JEE001 was drilled directly into a fault zone characterized by extensive shearing (clay alteration), iron carbonate alteration, and strong oxidation of both the arkosic quartzites and mafic-ultramafic rocks. Further towards the southwest along the drill profile, drill holes 20JEE002-20JEE004 intersected arkosic quartzites which were intruded by mafic sills.

Further geological interpretation will follow as this structural trend plunges beneath glacial cover to the northwest where the extensive BOT survey is underway. 

About the Jeesiö Project

The 100%-controlled Jeesiö Gold Project covers approximately 142kmof the prospective Central Lapland Greenstone Belt, proximal to other exciting recent gold discoveries in Finland. The Jeesiö properties are positioned along the major regional structure known as the Sirkka Shear Zone, a trans-crustal structure that controls the emplacement of most of the orogenic gold deposits in Lapland. The main Jeesiö targets include the Utsamo and Kataja Belt areas. Utsamo is situated directly between Aurion Resources’ Risti and Launi gold occurrences, while Kataja is only two kilometres southwest from the gold-bearing quartz-sulfide vein system at Launi.

Quality Assurance

Dr. Petri Peltonen, Technical Advisor to FireFox Gold, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Peltonen has helped with the collection and interpretation of the technical data generated on the Jeesiö Project, has reviewed and approves, the technical information in this news release.

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, 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. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 170,000 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

CONTACT:

FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 current and future work program, including the extent and nature of exploration to be conducted in 2020, as well as the planned drilling meterage on the properties described. 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.

VANCOUVER, BC – (February 1st, 2021) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to report that it has completed its earn-in requirements and exercised the option for a 100% interest in the Jeesiö Gold Project in Lapland, Finland. The exercise comes more than six months ahead of schedule.

FireFox Chairman Patrick Highsmith commented, “Jeesiö is one of our core projects, occupying approximately 142km2 right in the heart of Finland’s new gold rush, with exciting targets at both the Utsamo and Kataja zones. Having completed a significant exploration program in 2020 and in position to secure our ownership, it makes perfect sense to exercise the option now. Our next program is a detailed bottom-of-till sampling program and we are planning to follow that with more core drilling in the spring.”

FireFox entered into the RJY option agreement with Magnus Minerals Ltd (“Magnus”) for the Riikonkoski, Jeesiö, and Ylöjӓrvi gold projects in August of 2017. In order to complete the option, FireFox was required to issued six million common shares and make cash payments of C$250,000 to Magnus, and to incur C$2.5 million in exploration expenditures on the projects. Magnus had extended the dates for expenditures and payments so that the final commitments were not due until August 31, 2021. FireFox met its expenditure requirements in December 2020, and with C$100,000 left in cash payments, due February 28th and August 31st, 2021, elected to complete the payments immediately and exercise the option. FireFox is obligated to pay Magnus an additional payment, equal to the value of 1,000 troy ounces of gold, within 12 months of the commencement of commercial production from the properties. In addition, Magnus retains a 1.5% net smelter return royalty (“NSR”), which may be reduced to 1% by the payment to Magnus of 1,000 troy ounces of gold within 90 days of publishing a positive feasibility study. FireFox maintains the Riikonkoski and Ylöjӓrvi Projects but they are not currently a focus for the Company. 

About the Jeesiö Project

The Jeesiö Gold Project covers approximately 142km2 of the prospective Central Lapland Greenstone Belt, proximal to other exciting recent gold discoveries in Finland. The Jeesiö properties are positioned along the major regional structure known as the Sirkka Shear Zone, a trans-crustal structure that controls the emplacement of most of the orogenic gold deposits in Lapland. The main Jeesiö targets include the Utsamo and Kataja Belt areas. Utsamo is situated directly between Aurion Resources’ Risti and Launi gold occurrences, while Kataja is only two kilometres southwest from the gold-bearing quartz-sulfide vein system at Launi.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 170,000 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 current and future work program, including the extent and nature of exploration to be conducted in 2020, as well as the planned drilling meterage on the properties described. 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.

VANCOUVER, BC – (January 27th, 2021) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to report the results of its nine-hole (1,370 metre) phase 3 core drilling program at its 100% owned Mustajärvi Gold Project in the Central Lapland Greenstone Belt, Finland (“Mustajärvi” or the “Project”). The Project continues to yield shallow narrow high-grade intercepts, such as 2.0m at 33.25 g/t gold and 0.5m at 9.36 g/t gold in drillhole 20MJ009 and 0.5m at 11.20 g/t gold in 20MJ008.

New high-grade intercepts extend the strike of known high-grade gold along the shear zone to more than 1.5 kilometres (see Figure 1: https://bit.ly/36bdH8c). One of these new intercepts falls within the Central Zone, which has previously yielded intercepts as high as 2.0m at 45.1 g/t gold in drillhole 18MJ010 (see Company news release dated Jan. 21, 2019).   

“The results from our third drill program at Mustajärvi continue to be encouraging, and our understanding of the complex structural controls is growing,” commented Carl Löfberg, President and CEO of FireFox. “Notably, the Northeast Target, which has seen very little work so far, is returning very interesting gold results. The team is engaged in detailed geological and structural modeling aimed at updating our interpretation of the key controls on the high-grade gold. The detailed ground magnetics has been helpful in identifying these structures, and we expect to conduct additional geophysical surveys and till sampling before the next phase of drilling.”

Table 1: Summary of Significant High-Grade (>4.0 g/t Au) Drill Intercepts

Drill Hole Depth (m) From (m) To (m) Interval* (m) Gold (g/t)
20MJ005 176.2 148.5 148.9 0.4 8.86
20MJ008 200.0 63.7 65.0 1.3** 6.64
  and 97.5 98.0 0.5 11.20
20MJ009 178.5 65.0 67.0 2.0 33.25
  and 85.0 86.0 1.0 4.47
  and 146.5 147.0 0.5 9.36
           
* - Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geological modeling.
** - Including 1.1m of core loss

Details of Drilling and Geology

Mustajärvi occupies a major right-lateral shear zone that is sympathetic to the trans-crustal Venejoki Thrust Zone. The Mustajärvi Shear Zone (MSZ) has associated second and third structures that dissect the Project into separate structural zones. After FireFox’s structural modeling exercise during the summer of 2020, the 2020 drill holes were designed to test the interpreted dilatant zones created by the complex structural setting. There are many such narrow traps for high-grade gold mineralization along the structure, and these high-grade pods are now known to occur from drillhole 20MJ005 to 20MJ009, spanning more than 1.5 kilometres of the shear zone from southwest to northeast. 

The 2020 drilling occurred in four areas of the property, (see Figure 1: https://bit.ly/36bdH8c) testing several different types of targets identified in previous drilling and last summer’s exploration program at Mustajärvi.

The sparsely drilled Northeast Target returned the best intercepts in this drill program. Drillhole 20MJ009 was a solitary hole aimed at the MSZ, collared approximately 580 metres northeast from the Central Zone and 58 metres northeast from drillhole 19MJ006 (12 g/t Au over 1.95 metres; see Company news release dated Nov. 26, 2019).

Drillhole 20MJ009 passed through the Savukoski Group ultramafic volcanics and across the sheared contact into the Sodankylä Group siliciclastic metasediments. It encountered several gold mineralized intervals, the most important of which occurred at 65.0 metres downhole depth (2.0m at 33.25 g/t Au) in a zone of multiple generations of quartz veining and abundant pyrite, including very high tellurium and bismuth. There is extensive clay alteration in the high-grade zone, perhaps related to supergene weathering effects. This interval is geologically similar to the high-grade mineralization reported from drillhole 19MJ006.  

Further downhole, there are several narrow high-grade intercepts, including 1.0m at 4.47 g/t gold at 86.0 metres depth and 0.5m at 9.36g/t gold at 146.5 metres downhole depth. As with several of the drillholes, there are also thicker zones of alteration and weaker gold mineralization, such as at 93.0 metres downhole depth, where there is a weakly gold-mineralized zone over 6.0 metres associated with quartz-tourmaline veining and breccia. This interval included assays of 1.53g/t and 0.84 g/t gold, again with anomalous bismuth and tellurium.

Drillhole 20MJ008 was collared along the MSZ, 32 metres northwest of hole 18MJ010, which cut 2.0 metres of massive pyrite averaging 45.1 g/t gold. At 63.0 metres downhole depth in 20MJ008, a highly fractured zone of massive pyrite yielded 1.3m at 6.64 g/t gold (including 1.1 metres of core loss). Deeper in the hole (97.5 metres downhole), another intercept cut 0.5m at 11.2 g/t gold. Like much of the higher grades in the Central Zone, the best gold mineralization is associated with massive to semi-massive pyrite in strongly altered siliciclastic metasediments and highly-enriched bismuth and tellurium, up to 445 ppm Bi and 340 ppm Te.

Southwest of the Central Zone, the MSZ bends to the south where it encounters interpreted cross structures and is marked by a strong IP geophysical anomaly. Three drillholes in the 2020 program were aimed at these targets along the shear zone. Drillhole 20MJ005 was collared approximately 150 metres southeast from the shear zone. The hole intersected albitized, silicified and iron-carbonate altered pyrite-bearing ultramafic tuffites of the Sodankylä Group. At 148.5 metres downhole depth, a 0.4 metre pyrite-rich interval included 8.9 g/t gold, accompanied by 0.25% cobalt, anomalous nickel, bismuth, and tellurium. Higher in the hole, there are several zones of anomalous gold including an approximately 10-metre-thick interval (inclusive of 1.2 metres of core loss) with assays as high as 0.641 g/t gold. Two additional holes in the area (20MJ004 and 20MJ006) intersected the sheared contact between mafic volcanics and metasediments, including quartz-pyrite±tourmaline veins, but only weakly mineralized for gold.

The remaining drillholes did not return significant gold intercepts but contributed to mapping the MSZ and confirming alteration in the gabbro on the west end of the Project.

Table 2 includes the coordinates, direction, and dip of the phase 3 drill holes on the Project.

Table 2: Phase 3 Drill Collars. Coordinates presented in EPSG:3067

Drill Hole Easting Northing Azimuth (°) Dip (°)
20MJ001 427597 7500274 335 45
20MJ002 427640 7500291 335 45
20MJ003 427057 7499762 330 45
20MJ004 427454 7499826 330 45
20MJ005 427508 7499742 330 45
20MJ006 427438 7499877 330 45
20MJ007 427557 7500041 330 45
20MJ008 427716 7500191 340 45
20MJ009 428335 7500581 340 45

Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox’s exploration team conducted the geological and geotechnical logging and selected the assay intervals.  Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. FireFox geologists maintained chain of custody and sampling procedures reported in this news release 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 first crushed to -2 mm, split and pulverized, before being shipped to a facility in Ireland for gold by fire assay of 30 gm aliquots with AAS finish (method Au-AA23). Gold values which exceeded 10 ppm were assayed with fire assay and gravimetric finish (method Au-GRA21). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61). 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.

Dr. Petri Peltonen, Technical Advisor to FireFox Gold, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Peltonen has supervised the collection and interpretation of the technical data generated on the Mustajärvi Project and has helped prepare, and approves, the technical information in this news release.

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, and approves, the technical information in this news release.

About the Mustajärvi Gold Project

The Mustajärvi Gold Project (the “Project”) consists of an exploration permit and exploration permit application totaling 2.68 km2. The project area is flat, glacial till-covered terrain in the Lapland region of northern Finland, 17 kilometres east of the town of Kittilä, with road and power on the property. The Project is situated in the Central Lapland Greenstone Belt, which hosts several recent gold discoveries. The Project occupies more than two kilometres strike length of the Mustajärvi Shear Zone, which is believed to be a splay of the Venejoki Thrust Zone and related to the Sirkka Thrust Zone, an important host to gold mineralization in the belt.  The observed gold mineralization, structural setting and work to date support the potential for a high-grade orogenic gold deposit on the Mustajärvi property.

For additional details on the Project, please visit the Company’s website www.firefoxgold.com.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 170,000 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 current and future work program, including the extent and nature of exploration to be conducted in 2020, as well as the planned drilling meterage on the properties described. 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.

VANCOUVER, BC – (January 25th, 2021) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to announce two additions to its exploration team in Finland.  Dr. Sven Hönig joins the team as General Manager of Exploration, responsible for executing the Company’s gold discovery strategy in Finland. Dr. Hönig will report directly to the President and CEO. Mikko Nenonen is the new Exploration Manager and will be leading the Company’s exploration projects and reporting to Dr. Hönig. Dr. Petri Peltonen, formerly the Exploration Manager, will continue with the Company as a Technical Advisor.

FireFox CEO Carl Löfberg commented, “We thank Petri for his many contributions to our progress in Lapland, and we look forward to his continued input as part of our outstanding technical advisory team. We are pleased to welcome Sven and Mikko, both of whom bring excellent technical skills and a commitment to discovery. Sven’s structural geology skills will be a most welcome addition to our technical team.”

Dr. Hönig brings more than 12 years of diverse international mineral exploration experience, most recently as Senior Geologist for Kazzinc, a large-scale fully integrated producer of zinc, lead, copper and gold that is 69.7% held by Glencore. Sven has a strong background in structural geology and interpretation that he has applied to a variety of deposit types, including orogenic and intrusion-related gold. He also spent time on FireFox’s projects while working with GoldSpot Discoveries Corp. during a collaborative evaluation and targeting exercise. Having acted as chief geologist, project manager and project geologist, he has participated in all aspects of exploration, in projects ranging from grass roots to advanced stage. Sven is fluent in English, Russian, Czech and Slovak. He holds a doctorate from Masaryk University, Brno, Czech Republic, where he studied mineralized subvolcanic systems. He is a fellow of the Society of Economic Geologists, the Society for Geology Applied to Mineral Deposits, the Geological Society of London, and Czech Association of Economic Geologists.

Mr. Nenonen adds a strong background in of all aspects of mineral exploration in Finland, particularly in the Lapland region where FireFox is focusing its exploration efforts. Since 2018, Mikko has worked as a geologist on a variety of gold, nickel-copper and vanadium projects for Magnus Minerals Ltd. (“Magnus”), a highly successful private Finnish mineral prospect generator. Magnus provides technical services to FireFox, and as such, Mikko has been a part-time project geologist to FireFox for over two years, managing many aspects of both the exploration programs and stakeholder engagement. Prior to his work with Magnus, Mikko garnered gold experience exploring the Kittilä region of Lapland with Agnico Eagle Finland. Mikko is a native Finnish speaker who is fluent in English and proficient in Swedish. He holds a Master of Science in Geology and Mineralogy from the Faculty of Technology at the University of Oulu.

Corporate Update

In association with these appointments, FireFox also announces that the Board of Directors has approved the grant of stock options to certain officers, employees, and consultants of the Company allowing for the acquisition of up to, in the aggregate, 300,000 shares of the Company. The grant is pursuant and subject to the terms and conditions of the Company's existing stock option plan. The options are exercisable at a price of $0.205 per share for a period of five years from the date of grant and are subject to the approval of the TSX Venture Exchange and all regulatory approvals.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 170,000 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

CONTACT:
FireFox Gold Corp.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1-778-244-8439

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 current and future work program, including the extent and nature of exploration to be conducted in 2020, as well as the planned drilling meterage on the properties described. 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.

VANCOUVER, BC – (December 1st, 2020) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to announce that Janice Craig, CPA, CGA, is joining the FireFox team as Chief Financial Officer and Corporate Secretary, effective December 1st, 2020.  Andrew MacRitchie has served as CFO since the Company’s inception in 2017 and is leaving to focus on other opportunities.

“The Board would like to extend its gratitude to Andrew not only for his excellent performance as CFO, but, also for his valuable role as a co-founder of the Company, where his unwavering support and perseverance helped build FireFox into the exciting company that it is today,” commented FireFox CEO Carl Lofberg. “We are now looking forward to having Janice on board and I believe that her diverse experience in high growth corporate and entrepreneurial environments will contribute to the future success of FireFox.”

Ms. Craig is a Chartered Public Accountant who has held management roles in several publicly listed mining companies over her career working on gold, tungsten and coal projects in North America, Central America and Europe. In addition, her most recent role was Interim Finance Lead at Canadian Nuclear Labs, where she managed an annual budget of over $1B for a business of 3,500 individuals. She brings to the table a strong background in financial reporting, strategic planning, cash management and change management. Ms. Craig has also utilized her leadership and communication skills on non-profit boards and committees for over 14 years.

Other Business

FireFox also announces that the Board of Directors has approved the grant of stock options to certain officers, employees, and consultants of the Company allowing for the acquisition of up to, in the aggregate, 500,000 shares of the Company. The grant is pursuant and subject to the terms and conditions of the Company's existing stock option plan. The options are exercisable at a price of $0.25 per share for a period of five years from the date of grant and are subject to the approval of the TSX Venture Exchange and all regulatory approvals.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture stock exchange under the ticker symbol FFOX. The Company has been exploring for gold in Finland since 2017 where it holds a project portfolio that includes over 170,000 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