FireFox Gold Refines Utsamo Target and Plans Drill Program at Jeesiö Gold Project, Finland
TSX VENTURE: FFOX
VANCOUVER, Sept. 3, 2019 /CNW/ - FireFox Gold Corp. ("FireFox" or the "Company") is pleased to provide an update on the 2019 field program at its fully permitted Jeesiö Gold Project in the Central Lapland Greenstone Belt, Finland.
The Company has compiled results from recently completed geophysical and geochemical surveys and further delineated the major crustal structure that is believed to be the continuation of the Sirkka Shear Zone (see FireFox news release dated Mar. 22, 2019). The Sirkka Shear Zone provides the structural control for most known gold deposits in Central Lapland. In particular, the compilation has highlighted an interpreted contact zone that is often characteristic of the gold deposits associated with the Sirkka structure. FireFox is now planning a drill program to test the northern part of the Jeesiö Project in October.
"The Utsamo area of our Jeesiö Project is evolving into an exciting drill target," commented Carl Löfberg, Chief Executive Officer of FireFox Gold Corp. "Results to date, from our multidisciplinary exploration program, have repeatedly focused us towards an important structural corridor that is believed to be a major control of gold deposition in the region."
Integrated Exploration Program
The ongoing exploration program has been focused on the Utsamo target at Jeesiö. FireFox geologists have been conducting conventional prospecting and reconnaissance geological mapping in the area. The team has collected almost 200 samples of quartz veins and hydrothermally altered quartzite, including one sample that contained 4.6 g/t Au. This newly identified mineralization consists of strong sulfide-carbonate-altered quartzite. Follow-up sampling and trenching are currently underway in this southern portion of the Utsamo target area.
Approximately 3km north, the Company has identified a 2.8 km long structural feature, associated with numerous gold and geophysical anomalies. Results have now been received for detailed geochemical and geophysical surveys in addition to geological mapping of the area that was conducted during the summer of 2019.
A detailed Induced Polarization (IP) survey was conducted at the northern part of this 2.8 km long structural and geophysical feature. The area of interest is characterized by a band of low magnetism with discrete magnetic inliers that passes through more magnetic rocks. The results imply that the targeted structural corridor is characterized by low resistivity, and that the gold bearing Bottom-of-Till (BOT) samples are spatially associated with the sharp northeastern contact between low and high resistivity domains. This boundary is interpreted to represent the contact zone between hydrothermally altered metasediments and gabbroic sills – a common association of gold deposits in the region.
Much of the target area is covered by marshland where residual soils and till may not available for sampling. The FireFox team is assessing overburden geochemical methods to assist in targeting through the cover. As part of those tests, geologists collected approximately 103 samples along 6 lines across the targeted structure and submitted them for partial leach geochemistry and ultrasensitive analysis by Inductively Coupled Plasma – Mass Spectrometry (ICP-MS). The preliminary results of the partial leach geochemistry resemble the nearby BOT geochemistry, highlighting anomalous gold, copper, and other elements along the interpreted contact zones.
The new IP and geochemical results appear to be helpful in focusing the exploration along the nearly 3 km target corridor of metasediments and gabbro. FireFox geologists continue working in the area to enhance the focus and the targets for future drill testing.
FireFox expects to proceed with drill testing of targets in the northern part of the Jeesiö Project in October.
The IP survey configuration applied at Jeesiö was double offset dipole-dipole 3D IP (2.5D data acquisition) with 40m receiver dipoles and 50m transmitter dipole. The receiver dipoles were moved along the survey lines (16 x 2 dipoles for two 640-metre lines) and all dipoles were active for every reading.
FireFox employs quality assurance practices to monitor the reliability of laboratory results. These practices include the insertion of analytical control samples into all laboratory submittals. Results reported here have complied with FireFox's quality assurance standards. Labtium Laboratory Oy performed fire assay for gold on 25 g aliquots followed by ICP-OES determination (method 704P; detection limit 0.01ppm). Labtium Laboratory Oy is an independent facility accredited to the SFS-EN ISO/IEC 17025:2005 standard. The quality system of Labtium also complies with the requirements of the Standards Council of Canada (CAN-P-1579) "Guidelines for Accreditation of Mineral Analysis Testing Laboratories".
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 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.