VANCOUVER, BC – (July 29, 2019) – FireFox Gold Corp. (“FireFox” or the “Company”) is pleased to announce that it has commenced a new field program at its fully permitted Jeesiö Gold Project in the Central Lapland Greenstone Belt in Finland. The program is directed at the major structure previously identified by the Company, which is thought to be the continuation of the Sirkka Shear Zone (see FireFox Gold Corp. news release dated Mar. 22, 2019). The Sirkka Shear Zone is the major deep crustal shear zone that provides the structural control for numerous gold deposits in Central Lapland.
The new program is focused on the Utsamo gold target at Jeesiö. At Utsamo, the Company has identified a 2.8 kilometre-long structurally distinct zone, associated with numerous gold anomalies in till, that follows the contact between mafic intrusive rocks and metasediments. This feature is believed to be the continuation of the Sirkka Shear Zone. The prospectivity of the Utsamo target is highlighted by the discovery of a gold-bearing quartz vein system by another company about 1.7 km to the south-southeast, where several boulders and surface samples assayed as high as 74 g/t Au and 379 g/t Au (see Aurion Resources news release dated Feb. 12, 2019). FireFox cautions that, while Aurion’s discovery indicates potential for the Utsamo target, Aurion’s results may not be indicative of the mineralization on FireFox’s Utsamo target.
A detailed IP survey will be conducted at the northern part of the 2.8 km long structurally distinct zone at Utsamo. FireFox previously completed ground magnetic surveys of the target area, including a second survey with additional 54 line-kilometres in late winter of this year. The magnetic survey results will be combined with the IP results to delineate the drill hole collars for a drill program later this year. In addition, detailed sampling and analysis using MMI (Mobile Metal Ion) methodology will be conducted across the structure to help define future drill targets. MMI is an advanced geochemical exploration technique well suited for aiding in the identification of buried mineral deposits.
At the southern part of Utsamo, the Firefox Gold field team has recently completed detailed targeting applying available geochemical and geophysical data together with a high-resolution LIDAR remote sensing survey. Several secondary-targets have been identified that will be subjected to detailed mapping and surface sampling.
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 100,000 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.
FireFox Gold Corp.
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 completion of the Offering and the timing thereof and the use of proceeds therefrom. 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.