FireFox Identifies Flexure in Major Structure Crossing its Jeesiö Gold Project in Finland
TSX VENTURE: FFOX
VANCOUVER, March 22, 2019 /CNW/ - FireFox Gold Corp. (TSX-V: FFOX, FSE: A2PDU7) ("FireFox" or the "Company") is pleased to announce that new ground magnetic surveys have verified a major structure thought to be the continuation of the Sirkka Shear Zone through its Jeesiö gold project in the Central Lapland Greenstone Belt (CLGB) of northern Finland. The Sirkka Shear Zone is the major deep crustal shear zone that provides the structural control for numerous gold deposits in Central Lapland.
Late last year FireFox outlined five promising new gold targets on the Jeesiö property based on results from its Bottom-of-Till (BOT) sampling program and a compilation of gold and geochemical data from historic sampling (See Company news release dated Dec. 27, 2018). The Company immediately prioritized the Utsamo and Homelampi targets for follow-up work and conducted ground magnetic surveys at both targets. At Utsamo, the survey results identified a 2.8 km 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 (See Figure 1: https://bit.ly/2YdaPlt ).
"We believe that our Utsamo Target occupies an important flexure in the Sirkka Shear Zone where it deflects from easterly to a southeasterly strike," commented Carl Lofberg, CEO of FireFox Gold. "These types of large regional shear zones control many of the world-class orogenic gold districts throughout the world, and inflection points such as this often focus much of the tonnage and grade."
The prospectivity of the Jeesiö Project, and the Utsamo Target particularly, is further highlighted by the discovery of a gold-bearing quartz vein system by another company, about 1.7 kilometres to the south-southeast (see Aurion Resources news release dated Feb. 12, 2019). A number of boulders and quartz vein surface samples from this area reportedly assayed as high as 74 g/t Au and 379 g/t Au. Both target areas appear to be related to the Sirkka Shear Zone (See Figure 2: https://bit.ly/2JslqpH ).
Dr. Richard Goldfarb, technical advisor to FireFox Gold, commented on the new interpretation: "Along a major structure, such as the Sirkka Shear Zone, areas of greater geological complexity, both structurally and lithologically, are favorable locations for mineralization. Gold-transporting fluids traveling along primary faults will be largely focused along curvilinear segments of the structures, where segments of this main structure are characterized by major bends where spaces are preferentially opened. The Utsamo Target represents the location of just such a flexure along the Sirkka Shear Zone."
The Company is continuing its exploration activities at the Jeesiö Project. Additional ground magnetic surveys are ongoing and induced polarization (IP) surveys are planned to delineate drill targets for later this year. FireFox geologists have also prepared plans for the summer detailed mapping and sampling programs.
Additional details on the project are available from the Company's website, here.
Methodology and Quality Assurance
The ground magnetic survey at Jeesiö NE included a total of 35 east-west oriented lines with lengths ranging between 1.0 and 1.8 kilometres. Line spacing was 50 metres, for a total of approximately 50 line-kilometres covering an area of ~300 hectares. The sampling crew employed industry standard controls on the survey quality, including the use of a base station.
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 actively 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.
On behalf of the Board of Directors,
Chief Executive Officer
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: exploration results, 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 potential scale and orientation of the mineral system, future exploration programs and the timing thereof, including follow-up drill testing of exploration targets, operational plans and Finnish mining prospects. Although we believe the expectations reflected in our forward-looking statements are reasonable, actual 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.