VANCOUVER, Sept. 18, 2019 /CNW/ - FireFox Gold Corp. ("FireFox" or the "Company") is pleased to report that diamond core drilling has started at its 100% owned Mustajärvi Gold Project in the Central Lapland Greenstone Belt, Finland. This phase of drilling consists of nine planned drill holes, with total length of approximately 1,500 metres. The program has two primary objectives: (1) to follow up the high-grade mineralization intersected earlier this year, and (2) to increase the strike length of the mineralization by stepping out beyond the historic mineralization located near the center of the Mustajärvi property.
The first four drill holes will follow up the high-grade gold mineralization (2m @ 45.1 g/t Au) intersected during the Company´s Phase 1 drilling last winter (see FireFox news release dated 21 Jan, 2019). Of these four holes, two will target the continuation of this high-grade gold zone another 25m and 50m down dip, respectively. The remaining two holes are planned to test the strike extent of this mineralization 25m east and west.
The fifth hole will test the continuation of mineralization encountered in two historical Outokumpu drill holes, one of which intersected 2.7m @ 14.6 g/t Au. Drill hole six will be an attempt to duplicate an Outokumpu hole that intersected 12m @ 2.7 g/t Au despite suffering severe core loss up to 50%. The aim of these holes is to better understand the true width and grades of the near-surface mineralization.
Cautionary note: The historic Outokumpu drilling suffered from significant core loss due to faulting and fracturing; reported widths may not represent true thickness. While the Company believes the preceding historical drilling and sampling data are reliable, readers are cautioned that a "qualified person" (as defined by National Instrument 43-101) has not yet completed sufficient work to verify the historical information, and therefore the information should not be relied upon. Outokumpu data retrieved from the Geological Survey of Finland (GTK) database.
The remaining three holes are step-out holes further away from the central Mustajärvi mineralization. Two drill holes will be located approximately 450m northeast from known drilling. These holes will target an interpreted dilational jog along the shear zone which is associated with two distinct geochemical gold-in-till anomalies. Another drill hole will be located 250m southwest of the central Mustajärvi drill holes. It will target an interpreted flexure in the Mustajärvi shear zone that is associated with a strong IP chargeability anomaly and low resistivity values.
Assay results from these holes are expected during late October and early November.
About the Mustajärvi Gold Project
The Mustajärvi Gold Project (the "Project") consists of an exploration permit and exploration reservations covering over 15km2. The project area is flat, glacial till-covered terrain in the Lapland region of northern Finland, 17 km 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 Venejoki Thrust Zone, which is believed to be a splay of 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.
Dr. Petri Peltonen, Exploration Manager of 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 in the Company's field program 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 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 150,000 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,
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.
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.
SOURCE FireFox Gold Corp.
For further information: FireFox Gold Corp., Email: [email protected], Telephone: 604-558-7687