VANCOUVER, Nov. 6, 2019 /CNW/ - FireFox Gold Corp. ("FireFox" or the "Company") (TSXV: "FFOX") is pleased to report that it has completed as scheduled the Phase 2 drill program at its Mustajärvi Gold Project and is awaiting assay results. The drill rig has now been moved to the Jeesiö Gold Project to test the newly identified Utsamo area. Both projects are situated in the heart of the Central Lapland Greenstone Belt in Finland.
Carl Löfberg, Chief Executive Officer of FireFox Gold Corp. commented: "We are pleased to be starting our second drill program this fall as we planned. This is our first time drilling at Jeesiö, and we are excited to follow-up the multiple anomalies we identified at the new Utsamo area."
Up to three reconnaissance drill holes totaling approximately 350 metres will be drilled at the Utsamo area. The drill program is focused on the northern part of the 2.8-kilometre-long structural feature identified earlier this year, which is believed to represent the continuation of the Sirkka Shear Zone (see FireFox news release dated September 3rd, 2019). There, both gold in Bottom-of-Till (BOT) samples and anomalous Ionic Leach samples are spatially associated with the boundaries of magnetic bodies and contacts between low and high resistivity domains. These apparent drill targets are interpreted to represent the contact zone between hydrothermally altered metasediments and gabbroic sills – a common association of gold deposits in the region.
Additional target development work is on-going at the Jeesiö Project. Currently, a 250 metre trench sampling program is underway at the Homelampi target where BOT sampling returned anomalous gold including up to 1070ppb (see FireFox news release dated December 27th, 2018). The Homelampi target is located approximately five kilometres to the southwest of Utsamo.
Mustajärvi Drill Program Update
All together nine diamond core drill holes, with total length of 1431 metres, tested the 100%-owned Mustajärvi Project in the Phase 2 program. The drill program was designed to follow-up the high-grade mineralization intersected earlier this year, and to increase the strike length of the mineralization by stepping out beyond the historic mineralization located near the center of the property (see FireFox news release dated September 18th, 2019). Geological and structural logging of core has been completed, and assay results are expected toward the end of November.
For additional details on the Projects, 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