FIREFOX
GOLD GROWS LAND
POSITION IN CENTRAL
LAPLAND GREENSTONE BELT
OF
NORTHERN FINLAND
SODANKYLÄ,
FINLAND – (September 16th,
2020) --
InvestorsHub NewsWire -- FireFox Gold Corp. TSXV:FFOX ("FireFox"
or the "Company") is pleased to announce that it has added two
new properties to
its
exploration
portfolio in the Central Lapland Greenstone
Belt (CLGB) of Finland (see Figure 1:
https://bit.ly/2E4DOD5). During the course of
FireFox's 2020 summer field season, the Company has applied for and
been granted two new exploration reservations, the Kolho and the
Kelontekemä Properties.
These new
reservations bring FireFox's tenement holdings in northern Finland
to approximately 1,720 km2,
among the largest holdings of gold explorers in Lapland.
Field programs
have been initiated at both properties.
Figure
1
Kolho
Property - Eastern
margin of CLGB
On
September 3rd,
the Finnish mining authority
granted FireFox
Gold a large new exploration
reservation
covering
approximately 148.15 km2
within the
counties of Kittilä and Sodankylä. The new property lies
approximately 21 km from the Kittilä mine
(Agnico Eagle) and 4 km from the Pahtavaara Mine (Rupert
Resources). Geologically, the area is located along the
eastern margin of the Kittilä Suite of
rocks. The
area is characterized by a major thrust fault between
allochthonous oceanic crust (Kittilä Suite) thrusted onto older
rocks to
the east.
The
Kittilä
Suite
consists of
Kautoselkä and Vesmajärvi mafic volcanic rocks and Porkonen mafic
graphite tuffs (the same sequence
of rocks
hosting the gold deposits at
the Kittilä Mine). The leading edge of the
thrusted sheet consists of
Savukoski
Group ultramafic
volcanics, Matarakoski
black schists
and Sodankylä Group arkosic quartzites
(the lithological
association that hosts Rupert's Ikkari
discovery). The autochthonous rocks to
the east are comprised of older Archean basement
rocks.
FireFox
cautions that proximity or similar
geology to an
active or past-producing mine
does not
indicate that mineralization will occur on FireFox's property, and
if mineralization does occur, that it will occur in sufficient
quantity or grade that would result in an economic extraction
scenario. These facts were simply used as
elements of the prospectivity analysis of these
properties.
In
spite of its
prospective lithological and structural setting, the Kolho area has
not seen significant
gold exploration
activity in the past. FireFox has already initiated a mapping and
sampling campaign in Kolho. Associated with the
NW-SE
striking
shear
zone, the
teams have identified brittle
quartz-limonite-pyrite veins, sheeted veins and quartz stockwork
within moderately to strongly silicified mafic volcanics and tuffs.
Assays for the first round of rock
samples are
pending. FireFox geologists
have
also
identified
and assayed 128 historical
bottom-of-till (BOT) samples collected by the Geological
Survey of Finland (GTK), for gold and
pathfinder elements. The GTK samples yielded
anomalous gold
and multielement
anomalies
warranting further prospecting.
Kelontekemä
Property
– West
of Jeesiö Project
On July
27th,
the Finnish mining authority granted
FireFox Gold another new exploration
reservation
encompassing
approximately 71.06 km2
in the counties
of Kittilä
and Sodankylä. The new property
lies
between
the Company's Jeesiö
(east)
and Mustajärvi
(west) Projects, just south of the Sirkka Shear Zone. Apart from a few gold
anomalies in till samples, there is no evidence of
significant historic gold exploration at Kelontekemä,
but FireFox teams are conducting reconnaissance mapping and
sampling in the area as part of the 2020 field season.
This application
was competitive with other groups, such as Rupert Resources,
who hold ground
to the east and north.
Quality
Assurance
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.
Dr.
Petri Peltonen, Exploration Manager of FireFox Gold, is a qualified
person as defined by National Instrument 43-101. 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.
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 170,000
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, please refer to the Company's website
and profile
on the SEDAR website at
www.sedar.com.
On
behalf of the Board of Directors,
"Carl Löfberg"
Chief
Executive Officer
CONTACT:
FireFox Gold
Corp.
Email:
info@firefoxgold.com
Telephone:
+1-778-244-8439
Forward Looking Statements
The
information herein 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, the extent of work stoppage and
economic impacts that may result
from the COVID 19 virus, 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 and future work program, including the extent and nature of
exploration to be conducted in 2020, as well as receipt
of survey results on
the
properties described. Although we believe the expectations
reflected in our forward-looking statements are reasonable, results
may vary. The forward-looking statements contained herein represent
the expectations of FireFox as of the date of dissemination 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.