Sarvi Gold Project Overview
The 100%-held Sarvi Project is adjacent to the Agnico Eagle’s Ikkari property and within 5km of the discovery zone, which, along with Agnico Eagle’s Kittilä deposit to the northwest, provides an important exploration model. Sarvi is still relatively under explored but results to date provide good indications of gold deposit potential, including: high-grade gold intervals in 2026 drilling near the location of gold in historic drill holes; gold in micronuggets; and compiled exploration results from base-of-til sampling, trenching, geophysical surveying and mapping.
Ownership, Location, and Infrastructure
The Sarvi Project is in Lapland, the northernmost province of Finland. The project is bisected by a road and power line accessible and the area is serviced by two local towns, Kittila and Sodankylä. Agnico Eagle’s Kittilä Mine property, an underground gold mine and Europe’s largest primary gold producer, is situated approximately 20km to the northwest.
The Sarvi project includes the Sarvi group of permits (the central Sarvi exploration permit as well as Sarvi-2 immediately to the north and Keulakko permit adjacent to the west), plus the separate Lehto permit to the north, for a total permitted area of 26 km2. (The Sarvi and Lehto permits are subject to 1.5% NSR on production, see the latest MDA for details.) The Sarvi group share an 8km southern border with the Agnico Eagle property areas that host the Ikkari deposit, formerly owned by Rupert Resources.
Exploration Highlights
The Sarvi group covers a portion of the Kittilä Suite of volcanic rocks, which is cut by numerous breaks in the magnetics data, interpreted to be major faults and shear zones.
Historical drilling reports from the Geological Survey of Finland (2009) include assayed intervals of 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). Firefox considers these historical results, geological reports and assay data to be credible; however, as the work was completed by prior operators and the reports have not been independently verified by the Company’s Qualified Person, FireFox is unable to rely upon the data.
The 887-metre 2025 drill program focused on an area close to the historic GTK drilling, and the first holes returned significant gold as well as massive sulphide, as reported January 21, 2026. Drill hole 25SA003 hit a 3.2-metre-thick breccia zone with abundant sulphide mineralization from 73.4 m depth, including 0.85 m of massive sulphides from 75.2 m depth. The interval returned 1.75 m averaging 27.48 g/t Au, including 0.8 m at 53.50 g/t Au. The mineralization is associated with enrichment of silver, copper, arsenic, bismuth, antimony, and tellurium. The hanging wall breccia is also enriched in gold, hosting anomalous gold grades up to 0.3 g/t.
Through the beginning of 2026 FireFox completed detailed magnetics from both drone-based and ground surveys combined with almost 1,600 base-of-till (BoT) samples to establish initial targets. Less than 3000 metres of drilling were completed in the first two campaigns in 2022 and 2023. Initial holes in the central-east permit area returned narrow drill intercepts of elevated gold, silver, and various pathfinder elements (see Company news release dated May 27, 2022). In 2023, a small drill program farther east encountered copper-silver dominant mineralization with anomalous gold (see Company news release dated June 29, 2023).
For additional details please see the latest Presentation and MDA.
1 Results from other companies in Finland, including properties proximal to those controlled by FireFox, are not indicative of expected FireFox results, as there has been insufficient exploration on the properties held by FireFox. FireFox further cautions that similar geology, geological setting, or proximity to a discovery or mineral resource do 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. 2 From Technical Report, news releases and corporate presentation on http://agnicoeagle.com and www.sedarplus.ca, originally filed by Rupert Resources.
