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,
"Carl Löfberg"
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.
SOURCE FireFox Gold Corp.